The automotive engine valve market is valued at US$ 6.2 bn as on 2022. In 2021, it had a valuation of US$ 5.89 bn. The market is projected to grow at a CAGR of 2.3% during the forecast period. By 2032, the market is anticipated to hold a valuation of US$ 7.78 bn.
They play a crucial role in sealing the combustion gases, when the engine undergoes combustion process. This ensures that the engine does not get overheated. This is expected to drive the demand for automotive engine valve during the forecast period.
Moreover, there are different kinds of automotive engine valve types, automotive engine valve material. This provides the option of customisation as well as flexibility.
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Additionally, they are also effective in reducing the size of the vehicle without impacting its performance. This gives a look and feel to the vehicle. This is expected to drive the sales of automotive engine valve during the forecast period.
Furthermore, technological advancements are happening at a rapid pace, and this is touted to have a positive impact on the automotive engine valve market.
The governments across the world are laying down rules to combat air pollution as well as noise pollution. The best thing associated with automotive engine valve is that it effectively manages both. This is expected to drive the adoption of automotive engine valve during the forecast period.
There has also been an increase in the disposable income of consumers as compared to what it was a few years back. This has allowed the consumers to afford vehicles. The automotive engine valves are one of the most major components of vehicles.
Additionally, an increase in the adoption of autonomous vehicles is expected to drive the automotive engine valve market.
Thus, from the FMI analyses, it can be inferred that increasing disposable income, coupled with increase in the adoption of automobile systems, and many other factors are expected to drive the automotive engine valve market.
Key Takeaways
- The automotive engine valve market is expected to grow at a CAGR of 2.3% during 2022-2032.
- The automotive engine valve market was valued at US$ 5.89 bn as on 2021.
- The market is valued at US$ 6.2 bn as on 2022.
- The automotive engine valve market is expected reach a valuation of US$ 7.78 bn by 2032.
- Based on the product type, bimetallic valves are expected to have the highest market share during the forecast period.
- Based on the vehicle type, compact passenger cars are expected to have the highest market share during the forecast period.
- Based on the material type, titanium is expected to have the highest market share during the forecast period.
- Based on the sales channel, OEM are expected to have the highest market share.
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Competitive Scenario
The automotive engine valve market is seeing a number of mergers and acquisitions. Apart from that, strategic partnerships are also seen with a view to develop the best quality valves for the customers.
Some of the recent developments in the automotive engine valve market are:
- In August 2022, Knorr-Bremse announced that it would equip Alstom Coradia stream trains for German federal state of Baden-Wurttemberg.
- In August 2022, Hitachi launched Grid-eXpand to accelerate grid expansion for a Carbon-Neutral future.
Key Segments in the Automotive Engine Valve Market
By Product Type:
- Mono Metallic Valves
- Bimetallic Valves
- Hollow Valves
By Vehicle Type:
- Compact Passenger Cars
- Mid-Sized Passenger Cars
- Premium Passenger Cars
By Material Type:
- Steel
- Titanium
- Nickel Alloy
By Sales Channel:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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Key Companies Profiled
- Mahle Group
- Knorr-Bremse AG
- Hitachi Ltd.
- FUJI OOZX Inc.
- FTE automotive GmbH
- Federal-Mogul Holdings Corp
- Eaton Corporation Plc.
- Denso Corporation
- Delphi Automotive PLC
- Continental AG
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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