By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia Pacific automotive grille market accounted for ~52% in 2022. The automotive industry is transforming rapidly, and China is one of the main drivers to bring that transformation. The local automakers are innovating with vehicles to fulfil the future demands of roads by developing vehicles for shared mobility. The country is witnessing the exit of some automotive companies to reduce their supply chain dependence in the country, which will likely affect the country’s market soon.
India represents the fourth-largest automobile industry globally, with more than 3.4 million cars sold in 2019. Over the past few years, there has been an increasing demand from consumers for features, like infotainment systems with navigation facilities, convenience, and connectivity. By 2019, car manufacturers, like Maruti Suzuki, Hyundai, Kia, MG, Tata, Mahindra, and Toyota, started offering touchscreen infotainment systems with pre-downloaded maps, and customers have the facility of upgrading the maps whenever there is a new update.
Furthermore, the growing affluent populations, higher consumer spending on luxury goods, and spiked luxury car sales are some of the major factors that are expected to drive the growth of the automotive grille market in India over the forecast period.
Figure2: Automotive Grille Market, by Region, 2024 & 2032 (USD Million)
Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Europe automotive grille market accounts for the second-largest market share. Germany is a leader in producing passenger cars among all member countries in the European Union. Currently, three major companies - Volkswagen, Daimler AG, and BMW, dominate the German automotive industry. Statistics in country’s automotive sector show that Germany produces over 6 million vehicles annually, including passenger and commercial vehicles. Automakers are constantly upgrading the exteriors, and to provide best exterior experience to customers, major automakers in the market are developing new technologies and materials to stay ahead of their competitors.
Moreover, other countries expected to have good growth prospects for automotive grille are Finland, Belgium, Hungary, Ireland, etc. However, the reimposition of the lockdown in major economies of Europe is expected to hinder the market growth in the short-term, as the countries are facing this turbulence in the smooth operation of facilities and dealerships.
North America automotive grille market is expected to grow at the fastest CAGR between 2022 and 2032. The United States is one of the largest automotive industries in the world. Until 2019, the new vehicle sales across the country had increased significantly. However, during 2019, factors, such as slowdown in the economy, high non-housing debt, diminished retail spending, and rising defaults, led to a decrease in vehicle sales across the country.
Major automakers in the country are investing in the expansion of their facilities and in latest technologies to make the vehicles future-ready and provide the best driving experience to customers. The growing market for premium cars and increased preference toward employing trucks and other commercial vehicles with aftermarket exteriors products may drive the automotive grille market in the country over the forecast period.
