The automotive engine valve market was worth USD 6.2 billion in 2022, up from USD 5.89 billion in 2021. It’s expected to grow steadily at a CAGR of 2.3% per year, reaching USD 7.78 Billion by 2032.
Engine valves are essential for keeping combustion gases sealed during engine operation, which helps prevent overheating. This vital function is expected to boost demand for engine valves in the coming years.
There are various types and materials of engine valves available, allowing for customization and flexibility. Additionally, these valves can help reduce vehicle size without compromising performance, enhancing both the look and functionality of vehicles. This versatility is likely to drive sales of automotive engine valves throughout the forecast period.
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Furthermore, technological advancements are happening at a rapid pace, and this is touted to have a positive impact on the automotive engine valve market.
Governments across the world are laying down rules to combat air pollution as well as noise pollution. The best thing associated with automotive engine valves is that they effectively manage both. This is expected to drive the adoption of automotive engine valves 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 consumers to afford vehicles. The automotive engine valves are one of the major components of vehicles.
Additionally, an increase in the adoption of autonomous vehicles is expected to drive the automotive engine valve market.
Key Takeaways from the Automotive Engine Valve Market Report:
- 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 USD 5.89 billion as of 2021.
- The market is valued at USD 6.2 billion as of 2022.
- The automotive engine valve market is expected to reach a valuation of USD 7.78 billion 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, OEMs are expected to have the highest market share.
Competitive Landscape:
The automotive engine valve market is seeing several mergers and acquisitions. Apart from that, strategic partnerships are also seen 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 the German federal state of Baden-Wurttemberg.
In August 2022, Hitachi launched Grid-eXpand to accelerate grid expansion for a Carbon-Neutral future.
Leading Key Players:
The automotive engine valve market features several leading key players, including 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, and Continental AG. These companies are at the forefront of innovation, leveraging advanced technologies to enhance engine efficiency and performance. Their strong market presence is bolstered by strategic collaborations, extensive research and development efforts, and a commitment to high-quality manufacturing standards.
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Automotive Engine Valve Market Segmentation:
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
- Middle East & Africa (MEA)
- Europe
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