The automotive valves market, by value, is projected to grow at a CAGR of 4.1% during the forecast period, to reach USD 32.51 Billion by 2022.
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The report "Automotive Valves Market by product (Solenoid, EGR Valve, Brake Combination Valve, AT Control Valve, Engine Valve), Vehicle (PC, LCV, HCV, EV), Application (Engine, Brake, HVAC), Function (Hydraulic, Pneumatic, Electric), and Region - Global Forecast to 2022"
The global automotive valves market is projected to grow at a CAGR of 4.1% from 2017 to 2022, to reach a market size of USD 32.51 Billion by 2022.
Browse 99 Market Data Tables and 46 Figures spread through 170 Pages and in-depth TOC on "Automotive Valves Market by product (Solenoid, EGR Valve, Brake Combination Valve, AT Control Valve, Engine Valve), Vehicle (PC, LCV, HCV, EV), Application (Engine, Brake, HVAC), Function (Hydraulic, Pneumatic, Electric), and Region - Global Forecast to 2022"
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The major factors driving the growth of the automotive valves market are the increasing production levels of vehicles, electrification of vehicles, installation of HVAC systems in commercial vehicles, and stringent emission norms introduced by the government to improve fuel economy.
Solenoid valve – Expected to grow at the highest CAGR
Automotive solenoid valves are conventional components which are used in most of the standard vehicles in applications such as door locks, steering locks, starter motors, fuel valve control, and anti-lock braking system (ABS) to name a few.
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The solenoid valve market is expected to grow at a higher CAGR as compared to other valves, both in terms of value and volume. Also, the solenoid valve is gaining preference over other valves as it is fast in operation and suitable for electronic functions such as door lock and ABS.
The market is expected to witness a gradual shift from conventional mechanical actuators to electromagnetic actuators such as waste gate and VGT. The automotive solenoids are expected to enhance the products’ properties, and their application in automotive would result in better quality of engines, low emission, increased automation, and safety and security application.
These factors are expected to fuel the demand for solenoid valve in the global automotive valves market during the forecast period.
Hybrid Electric Vehicle – A promising segment for component manufacturers
Hybrid Electric Vehicle (HEV) accounts for the largest share of the automotive valves market among the electric vehicle types (BEV, HEV, and PHEV). It is estimated to continue its dominance in the automotive valves market during the forecast period.
Also, in terms of growth, PHEV is projected to grow at the highest CAGR followed by BEV and PHEV, respectively. Increasing government support for green vehicles is propelling the demand for electric vehicles, which in turn is increasing the demand for automotive components such as actuators and valves.
Asia-Pacific: Largest market for automotive valves
Asia-Pacific is estimated to hold the largest share, by value and volume, of the automotive valves market in 2017. Also, in terms of growth, Asia-Pacific is projected to grow at a higher CAGR as compared to other regions.
Developing economies such as China and India are expected to play a major role due to increasing vehicle production. Also, increasing installation of upgraded technology features such as ABS, automatic transmission, and start-stop systems is likely to add to the demand for supporting valves.
The report profiles all major players in the automotive valves market, including Continental AG (Germany), Hitachi Ltd. (Japan), Denso Corporation (Japan), and BorgWarner (U.S) among others.
The report also covers a comprehensive study of the key vendors operating in the automotive valves market. The competitive landscape is divided into four distinct categories, namely, dynamic differentiators, visionary leaders, emerging companies, and innovators.
The evaluation is done by taking various factors into account such as product development, R&D expenditure, business strategies, product revenue, and organic and inorganic growth.
The report also explains the qualitative aspects of the automotive valves market with respect to advanced features and applications. It covers Porter’s five forces analysis, competitive landscape, and company profiles of major players in the automotive valves market.
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