The is foreseen to increase its growth rate while riding on rising vehicle production, emission legislations, and the surge in the demand for light weight vehicle and fuel-efficient components. The automotive sector emphasizing on the reduction of the emission levels of automobiles could augur well for the market. The market could gain traction on the back of original equipment manufacturers (OEMs) looking to develop cutting-edge and light weight vehicle components such as valves. The responsiveness and performance of different systems of a vehicle hold a direct relation with automotive valves.
The demand for electric vehicles could be propelled by the implementation of government initiatives supporting the production of green vehicles. This could in turn benefit the demand for valves, actuators, and other automotive components. Supporting valves are forecasted to invite a hefty demand with the soaring installation of upgraded technology features such as start-stop systems, automatic transmission, and anti-lock braking system (ABS).
According to Transparency Market Research (TMR), the global automotive valves market could expand at a 4.9% CAGR during the forecast period 2017–2022. By the final forecast year, the market is projected to collect a revenue of US$34.2 bn growing from a US$27.0 bn earned in 2017.
Global Automotive Valves Market: Major Insights
The need for improved fuel efficiency and reducing the impact of vehicular carbon emission footprint is prognosticated to create a host of favorable opportunities in the world automotive valves market.
The introduction of novel variable valve timing (VVT) techniques for improving the performance of engines on the whole could be another factor elevating the growth of the market. This is expected to be led by the concept of engine downsizing adopted by leading manufacturers.
The world automotive valves market is envisaged to be divided into AT control valve, water valve, tire valve, exhaust gas recirculation valve, solenoid valve, fuel system valve, thermostat valve, brake valve, air conditioning (A/C) valve, and engine (inlet and outlet) valve, according to product classification. The market for engine (inlet and outlet) valve could exhibit a dominating revenue growth with an 18.0% share anticipated to be earned by 2022.
As per segmentation by vehicle, the automotive valves market could be segregated into plug-in hybrid electric vehicles (PHEVs), hybrid electric vehicles (HEVs), battery electric vehicles (BEVs), heavy commercial vehicles (HCVs), light commercial vehicles (LCVs), luxury passenger cars, premium passenger cars, mid-size passenger cars, and compact passenger cars.
According to sales channel, there could be OEM and aftermarket segments offering growth opportunities in the market. By function, the market could be cataloged into electric, pneumatic, hydraulic, and mechanical and pilot-operated.
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Geographically, the world automotive valves market is envisioned to be segmented into the Middle East and Africa (MEA), North America, Asia Pacific except Japan (APEJ), Latin America, Europe, and Japan. Out of these regions, APEJ could showcase a superior growth at a 5.1% CAGR.
Global Automotive Valves Market: Vendor Landscape
Profiles of top companies, viz. Continental AG, Delphi Automotive, Hitachi Ltd., Denso Corporation, Federal-Mogul LLC, Eaton, FTE Automotive, MAHLE GmbH, FUJI OOZX, Inc., and Knorr Bremse AG, are thoroughly studied in the publication.