PUBLISHER: The Business Research Company | PRODUCT CODE: 1270512
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270512
“Automotive Valves Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive valves market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive valves? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automotive valves market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the automotive valves market are Robert Bosch GmbH, Continental AG, Denso Corporation, BorgWarner Inc., Schaeffler AG, Eaton Corporation plc., Federal-Mogul Corporation, MAHLE GmbH, Jinan Worldwide Auto-Accessory Limited ICP, Magna International Inc., SSV Valves, G&S Valves, Crown International, IVAM srl, Valeo S.A., Aptiv PLC., Tenneco, and Cummins Inc.
The global automotive valves market is expected to grow from $28.64 billion in 2022 to $30.02 billion in 2023 at a compound annual growth rate (CAGR) of 4.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive valves market is expected to grow to $35.69 billion in 2027 at a CAGR of 4.4%.
The automotive valves market consists of sales of poppet valve, sleeve valve, rotary valve and reed valves. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Automotive valves refer to the mechanical components manufactured by automotive valve manufacturers that are used in internal combustion engines to allow or restrict the flow of gas or fluid back and forth between the cylinders or combustion compartments while the engine is running. An automobile valve works in a similar way that other valves do. The performance of several systems such as engine valves and ignition systems directly depend on the automotive valves.
Asia-Pacific was the largest region in the automotive valves market in 2022. The regions covered in the automotive valves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types in automotive valves are engine valves, air-conditioner valves, brake valves, thermostat valves, fuel system valves, solenoid valves, exhaust gas recirculation valves, tire valves, and AT control valves. Engine valves are mechanical devices used in internal combustion engines to control the flow of gas or liquid into and out of the cylinders or combustion chambers while the engine is running. The propulsion and components involved are the internal combustion engine (ice) and electric vehicle that are used in various vehicle types such as passenger cars, light commercial vehicles, buses, and trucks. The various applications involved are engine systems, HVAC systems, brake systems, and others.
The growing adoption of hybrid electric vehicles (HEVs) is expected to propel the growth of the automotive valves market going forward. A hybrid electric vehicle (HEV) is a vehicle that combines an internal combustion engine (ICE) propulsion system with an electric propulsion system. Automotive valves from both internal combustion engine (ICE) and battery electric vehicles (BEV) vehicles are used in HEVs. which include HVAC valves, solenoid valves, brake combination valves, and tire valves. The automotive valves support HEV with their smooth functioning. For instance, according to Gadgets 360, an Indian-based media brand, the US sales of hybrid vehicle sales jumped 76 percent to 801,550 vehicles in 2021, whereas hybrid electric vehicles in the United States with 5.8 million units sold in December 2020. Therefore, the growing adoption of hybrid electric vehicles (HEVs) is driving the growth of the automotive valves market.
Product innovations are a key trend gaining popularity in the automotive valve market. Major players in the automotive valves sector are focused on product innovations to sustain their marketplace. For an instance, in October 2021, Emerson, a US-based machinery manufacturer, launched the first comprehensive valve assemblies. These Innovative features can improve critical performance specifications in safety instrumented systems by up to 50%. This valve will fulfill safety integrity level (SIL) 3 as per the IEC 61508 standard of the International Electrotechnical Commission. Without this system, consumers will have to define every single valve component, buy each one separately, then put them all together to make a functional whole. This form of custom assembly will not offer all the advantages of the Digital Isolation assembly, even if the procedures are followed exactly.
In September 2021, Kitz Corporation, a Japan-based manufacturer of valves acquired TOA Valve Engineering Inc. for an undisclosed amount. With this acquisition, both companies aim to further boost their corporate value and expand their businesses by mutually sharing strategies, technologies, and strengths related to valves. TOA Valve Engineering Inc. is a Japan-based industrial valve manufacturing company.
The countries covered in the automotive valves market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The automotive valves market research report is one of a series of new reports from The Business Research Company that provides automotive valves market statistics, including automotive valves industry global market size, regional shares, competitors with automotive valves market share, detailed automotive valves market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive valves industry. This automotive valve market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.