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The global automotive valves market is projected to grow at a CAGR of 2.3% from 2022 to 2027, to reach USD 28.2 billion by 2027
Advance technologies such as antilock braking system (ABS), automatic transmission control, start stop system are pushing the market for automotive valves. Further, the steadily increasing vehicle production and vehicle electrification coupled with rising stringent emission standards is pushing the automotive manufacturers to make more fuel-efficient vehicles, which is further driving the market for automotive valves.
New York, Sept. 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Valves Market by Propulsion and Component, Vehicle Type, EV, Application, Function, Engine Valve Type and Region - Global Forecast to 2027" - https://www.reportlinker.com/p05001222/?utm_source=GNW
Asia Pacific is expected to be the overall largest market for automotive valves, by value and volume
Asia Pacific is projected to grow at highest CAGR during forecast owing to huge automotive production in China, India, Japan and South Korea among others. Additionally, the countries like China, India and Japan are booming economies which bring immense opportunities for components for advanced vehicles equipped with features such as ABS, automatic transmission, safety systems and others which is expected to further support the market.
The huge vehicle production in Asia Pacific offers high growth opportunities for automotive valves market.Suitable investment policies as well as the availability of cheap labor have made the region ideal for the automotive OEMs investments.
Many American and European automobiles manufacturers have established their production units to developing countries in Asia Pacific. China is largest vehicle manufacturers in Asia Pacific, in 2021 55.8% of total vehicle production was done in China. The top three vehicle producing countries are China, Japan, and South Korea.
Engine valve is expected to dominate the market during the forecast period.
Engine valves (inlet and outlet) holds the largest market share, by volume, by volume, in the global automotive market succeeded by solenoid valve, fuel system valve and others.The ranking is expected to be same during the forecast period.
A standard car can consist of up to 16-20 engine valves, depending on cylinder configuration as well as engine design.The moderate increase global vehicle production at rate of 5%-7% will boost the automotive valve market.
Furthermore the addition of new vehicle per year is anticipated to add more volume to the market during the forecast period.
Increasing electrification of vehicles to uplift the demand for automotive valves in long term Since the last few years, OEMs have been adopting advanced technologies to meet the stringent emission regulations, better ergonomics, safety regulations, and increasing demand for comfort and convenience.Vehicle electronics play an important role in the improvement of vehicle performance.
Additionally, vehicle electrification is the key enabler of alternate fuel vehicle technologies.The electrification of the vehicle helps in a variety of automotive systems, efficient operation of engine, heating and air conditioning systems, and other functions which make use of less fuel and reduced emissions.
The advanced hybrid powertrains need an array of electronics for their functioning, which includes solenoid valves, sensors, actuators, and other components. In the near future, the mechanical components will be replaced by electronic components, which will help in making the vehicle lighter and fuel efficient and reduce emissions.
The study contains insights of various industry experts, ranging from component suppliers to Tier I companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: OEMs – 26%, Tier I – 65%, Others– 9%
• By Designation: CXOs level – 35%, Manager level – 50%, Executive – 15%
• By Region: North America – 39%, Europe – 24%, Asia-Pacific – 33%, ROW – 4%
Major players profiled in the report are:
• Continental AG (Germany)
• Robert Bosch (Germany)
• Denso Corporation (Japan)
• Aisin Corporation (Japan)
• BorgWarner (US)
• Valeo (France)
• Hitachi Ltd. (Japan)
• Eaton (Ireland)
• Tenneco (US)
Research Coverage:
The study covers the automotive valves market across segments.It aims at estimating the market size and future growth potential of this market across different segments such as Propulsion & component, application, function, EV type, Vehicle type, material, engine valve technology and region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
• The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall automotive valves market and its subsegments.
• This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05001222/?utm_source=GNW
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