The global market for automotive valve is predicted to showcase significant CAGR over the assessment period (2017-2023), asserts Market Research Future (MRFR) owing to the innovation in technology. Automotive valves are basically electromechanical devices which allow or stop the flow of the liquid, gas, or loose dry materials in the vehicle. Automotive manufacturers are developing advanced technology-based automotive valve which depends upon the requirement of the vehicle.
Drivers and Restraints
The primary factors responsible for the expansion of automotive valve market are growth in the automotive industry, innovation in technology, and development of lightweight components. In order to reduce the weight of the vehicles to improve performance and efficiency, automotive manufacturers are developing lightweight components. Manufacturers are also extending their product line by manufacturing highly efficient products like advanced electric mechanically controlled valves. Also, the increased production of commercial and passenger in emerging countries will result in the increased demand for automotive valves during the assessment period.
The growing demand for low emission automobiles can also augment the demand for automotive valve during the review period. Moreover, continuous innovations in automobiles, improved technology, and increasing production of vehicles is another factor stimulating the market growth. Also, government mandates to safeguard the environment is increasing the demand for eco-friendly vehicles which is responsible for fuelling the automotive valve market.
Meanwhile, the high cost associated with the technologies and fluctuating prices of valve components are some of the major factors inhibiting the market growth during the assessment period. Also, with the increasing number of electric vehicles, the market is likely to hamper since such vehicles require less number of valves as compared to conventional fuel powered vehicles.
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Global Automotive Valve Market Segmentation
The global market for automotive valve has been segmented on the basis of vehicle type, product, application, function, and region.
By mode of product, the global automotive valve market has been segmented into EGR valve, brake combination valve, solenoid, engine valve, and others. Among these, the segment for solenoid is anticipated to dominate the market over the review period as it is light in weight and safe to use.
By mode of function, the global automotive valve market has been segmented into electric, hydraulic, and pneumatic. Among these, the electric segment is predicted to dominate the global market owing to the improved efficiency used in the valve.
By mode of application, the global automotive valve market has been segmented into brake, engine, and HVAC. Among these, the engine segment is anticipated to dominate the global market as they are extensively used in engine in order to stop or allow the flow of the fluid.
Geographically, the market for automotive valve spans across Asia Pacific, North America, Europe, and Rest-of-the-World.
The Asia Pacific region is predicted to dominate the automotive valve market owing to the growing production of commercial and passenger vehicles. In this region, China is predicted to dominate the market as automotive OEMs are setting up manufacturing hubs in China, resulting in an increased demand for valves and production of vehicles.
The North American region is anticipated to be the second largest market owing to the rising demand for new vehicles which will result in the growth of auto components suppliers. The growing investment by the auto manufacturers will lead to innovation and also improve the demand for automotive valves in this region.
Camcon Automotive, a British company, has built the first fully electronic engine valve system, uncoupled from the crankshaft, which offers unprecedented control over the combustion cycle. On top of power and emissions improvements, it opens up some of the wonderful capabilities such as giving 4-stroke engines brief 2-stroke power boosts.
The prominent players operating the global automotive valve market are Robert Bosch GmbH (Germany), Nextech Engineering (India), Continental AG (Germany), SMB Engine Valves (India), AVR Valves Pvt. Ltd. (India), Johnson Electric Group (Hong Kong), Automotive Valves Pvt. Ltd. (India), Federal-Mogul (U.S.), Delphi Automotive (U.K.), Denso Corporation (Japan), Cummins Inc. Valeo S.A. (France), BorgWarner (U.S.), SSV Valves (India), Aisin Seiki Co. Ltd. (Japan), and more.
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