The valve seat inserts market is predicted to be worth US$ 6,121.3 million in 2023 and rise to US$ 8,974.3 million by 2033. The global industry recorded a CAGR of 3.9% from 2018 to 2022.
Sales of valve seat inserts are projected to increase significantly due to the expansion of warehouse space globally. With the high demand for forklift truck replacements in developed economies, the burgeoning e-commerce industry uplifts the market.
FMI predicted that the output of industrial trucks is likely to rise 4 to 6% annually. This projects the demand for valve seat inserts. Carbide valve seat inserts are preferred over traditional steel or iron inserts due to their superior wear and corrosion resistance. Together with the expanding trend towards making cars lighter, there is a growing demand for carbide products on the market.
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Profitable Market Opportunity
The companies are making significant investments to enhance their manufacturing capabilities. High revenue is made possible by innovative products that use new materials. To take advantage of the continually rising demand for valve seat inserts.
Key Takeaways
- By 2033, the valve seat inserts market in the United Kingdom is likely to expand with a CAGR of 2.7%.
- In 2023, the United States is likely to expand in the valve seat inserts sector, with a share of 12.1%.
- The valve seat inserts market was flourishing with a size of US$ 5,881.9 million in 2022.
- By 2033, the valve seat inserts industry in China is likely to expand, with a CAGR of 4.6%.
- In 2023, Australia is projected to expand in the valve seat inserts business, with an expected share of 0.4%.
- The market is anticipated to expand at a valuation of US$ 6,865.79 billion by 2026, owing to technological advancements such as turbocharging.
- By 2033, India is projected to expand significantly in the valve seat inserts sector, with a share of 5.1%.
- Japan’s valve seat inserts market share is projected to increase by 8.8% in 2023.
- By 2033, iron alloys are anticipated to control the market in terms of material type, with a projected share of 51.3% in 2023.
- Based on the end-use industry, the automotive sector is likely to dominate the market with a share of 73% in 2023.
Effective Approaches by Key Players
To address the issues raised by current manufacturing methods, producers are likely to concentrate on creating valve seat inserts utilizing novel technologies, such as powder metallurgy. By releasing high-end products, industry participants maintain the uniqueness of their products and solidify their positions in the global market.
Key Players are:-
MAHLE GmbH, Tucker Valve Seat Company, Indian Seats & Guides Company, Nippon Piston Ring Co., Ltd, Dura-Bond Bearing Company, BLW Engine Valves, Federal-Mogul LLC, MS Motorservice International GmbH, Microfinish, Kavya International, Perfect Alloy Components Pvt. Ltd., Coopercorp Engine Components, Summit Valve Train LLC, XLP Engineers Pvt. Ltd., S.B. INTERNATIONAL, INC., Fondera Limited.
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Recent Developments
- The product line for valve seat inserts was expanded by Federal-Mogul LLC in 2018 with the launch of the MoS2 coated inserts. These inlays offer enhanced durability and performance. In 2019, Tenneco Inc., a significant global manufacturer of automotive parts, acquired Federal-Mogul.
- In 2019, Trelleborg purchased an advanced composite component producer, Automatic Dynamics. The company’s ability to produce lightweight materials for high-performance industries like aerospace and defense was enhanced by the acquisition.
Key Segments
By Sales Channel:
- OEM
- Aftermarket
By Material Type:
- Iron Alloys
- Steel
- Nickel-based Alloys
- Others
By Engine:
- Gasoline Engine
- Diesel Engine
- Gas Engine
By End Use:
- Automotive
- Passenger Cars
- Light Commercial Vehicle
- Heavy commercial vehicle
- Off-Highway
- Two-wheelers
- Marine
- Industrial Machinery
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East & Africa (MEA)
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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