Automotive Valve Market Overview
Automotive
Valves Market is expected to reach USD 29.9 billion by 2032 and grow at CAGR of
2.1%. Automotive valve market 2023 at a significant rate between 2023 and 2032 (assessment
period). We will provide COVID-19 impact analysis with the report, along with
all the key developments since the coronavirus disease outbreak.
Key Boosters and Primary
Restraints
The COVID-19 outbreak has exponentially disrupted the global economy.
Automotive and various component manufacturing plants have been closed down post
the lockdown imposed due to the pandemic, downfall in the consumer demand and
the drop in the vehicle sales have severely impacted the automotive valve
market. SARS-CoV-2 has affected the stakeholders that are part of the market,
who are now dealing with both short and long term impact of the novel
coronavirus. The COVID-19 impact on the automotive valve market has meant lack
of raw material, production shifting to countries outside China, financial crunch
and delayed launches.
Since most of the European and US automotive manufacturing is facing
massive uncertainty and is waiting for the production to resume soon, the
demand and supply ratio is observing a large gap in the market. This situation
has led to a weakened growth of the automotive valve market. On the bright
side, with many of the leading manufacturers emphasizing on the safety and protection
of the employees, tracking the employee health status, following every virus control
protocols and planning flexible work from home models, there might be hope for
the automotive valve market in the coming period.
Get A Free Sample Report of Automotive
Valve Market
Furthermore, the surge in the regulations and rules imposed by governments
as well as ruling authorities pertaining to environment safety are prompting manufacturers
to develop efficient and eco-friendly vehicles, which boosts the demand for automotive
valves. Apart from this, many of the renowned players are coming up new product
launches and innovations that can help them boost their market position.
For instance, in July 2020,
Kawasaki launched its latest KX250 with various enhancements, some of which are
large-diameter exhaust and intake valves, which facilitate more air as well as
strengthened strong power.
Renowned Industry Companies
Some of the renowned industry companies are Cummins Inc. AG
(Germany), Automotive Valves Pvt. Ltd. (India), Nextech Engineering (India),
Aisin Seiki Co., Ltd. (Japan), Federal-Mogul (U.S.), Valeo S.A. (France),
Delphi Automotive (U.K.), SSV Valves (India), AVR Valves Pvt. Ltd. (India), SMB
Engine Valves (India), Continental BorgWarner (U.S.), Robert Bosch GmbH
(Germany), Johnson Electric Group (Hong Kong), Denso Corporation (Japan), and
more.
Recent News
June 2020
Triumph Group has entered a
four-year long contract to provide hydraulic valves to Lockheed Martin. Triumph
will be providing hydraulic utility actuation/HUA valves, which will part of
the F-35 program.
Market Segmentation
The automotive valve industry can be considered for product,
function, application as well as vehicle type.
The products mentioned in the market study include EGR valve, solenoid,
engine valve, brake combination valve, and more. Solenoid segment can head the
global market during the assessment period as these products are user-friendly
and are lightweight.
The segments depending on function include pneumatic, electric and
hydraulic. The market is projected to be led by the electric segment owing to
the better efficiency benefit of this particular valve.
The primary applications of automotive valve are Brake, HVAC and
Engine. Between these, the engine application is set to be the leading segment
as valves help stop or allow the fluid flow in engines.
Regional Insight
The automotive valve market can be regionally distributed with
respect to North America, Asia Pacific/APAC, Europe, and RoW/Rest of the World.
Over the coming years, APAC can most likely be the market leader
as the production of commercial and passenger vehicles has increased
drastically in recent years. MRFR expects China to be the most profitable
market in the region, given the rise in the number of automotive OEMs shifting
their manufacturing hubs in the country, which is leading to surge in the
production of vehicles. This can be a favorable scenario when it comes to the demand
of valves. Also, the ring automation trend and the frequent advancements in technology
also favor the automobile valves market in this region.
North America can potentially take the second lead in the global market
as a result of the rising sale of the latest vehicle models, which can result
in the expansion of the auto components supplier pool here. The high spending by
automakers on innovation and researches can also be beneficial for the
automotive valve market in North America. The escalating preference for low
emission automobiles has also caused a rise in the demand for automotive valves,
which means excellent growth prospects in the following years.
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