Global automotive valves market size is expected to grow at a CAGR of 5% until 2024 due to growing automotive industry, increasing vehicle production and growing demand for automotive components. Moreover, the increasing demand for light weight vehicle components and fuel-efficient vehicles drives the automotive valves market. In terms of electric vehicle type, hybrid electric vehicles (HEV) category accounted for the largest share among all the electric vehicle types in 2019 and it is expected to dominate the electric valves market among all the electrical vehicles type throughout the forecast period as well.
Asia-Pacific Automotive Valves Market is projected to account for a considerable portion of the global automotive vales market during the forecast period. Growth of the Asia-Pacific automotive valves market is mainly attributable to the increasing vehicle production in the developing economies of the Asia-Pacific region, such as India, China and Japan. Furthermore, increasing installation of upgraded technology features such as ABS, automatic transmission and start-stop systems is expected to add to the demand for supporting valves, globally.
Some of the major key players operating in Automotive Valves are Cummins Inc., Aisin Seiki Co. Ltd., Hitachi Ltd., BorgWarner Inc., Valeo S.A., Aptiv PLC, Robert Bosch GmbH, Continental AG, Denso Corporation, Eaton Corporation plc among others.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of leading manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service offerings, distribution channels and presence of all major players operating in global automotive valves market.
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TechSci Research calculated the market size of global automotive valves market using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
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