Question

Is there any Possibility that it can Generate Compressed HTML from the GridVIew ???

Answer 1

I do not suggest to do that, but I can give an idea for how I will try to do that:
You can render the GridView in a string, make the compression and then show it to the page.

TextWriter stringWriter = new StringWriter();

    HtmlTextWriter GrapseMesaMou = new HtmlTextWriter(stringWriter);

    cGridView.RenderControl(GrapseMesaMou);

    // this is the string that you show on page (eg place it on a literal)
    string cFinalResults = CompressHtml(stringWriter.ToString());

    // not show it any more...
    cGridView.Visible = false;

one html compressor: http://code.google.com/p/htmlcompressor/

I do not know if this can work smoothly for all cases, but you can give it a try to see if it is what you look for.