Pune, India, Feb. 03, 2022 (GLOBE NEWSWIRE) -- The global Variable Valve Timing (VVT) Market size is expected to reach USD 48.82 billion by 2028 from USD 35.20 billion in 2021, exhibiting a CAGR of 4.8% during the forecast period. The stringent emission norms coupled with OEMs growing inclination towards innovative engine technology will have a tremendous impact on the global market, states Fortune Business Insights, in a report, titled “Variable Valve Timing Market, 2021-2028.” The market size stood at USD 34.94 billion in 2020.
Key Development:
July 2020: HARLEY-DAVIDSON, an American motorcycle manufacturer, filed a V-Twin engine patent with variable valve timing. The company intends to update its engine lineup because of tightening emissions standards around the globe.
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Inflated Demand for Omni-Channel Insights to Boost Market
An automotive variable valve timing system extends motor life by effectively enhancing discharges, efficiency, or execution. VVT systems in automobiles improve the motorcycle, improve combustion, reduce fuel consumption, reduce emissions, minimize discharges, and improve the motor force. They also support the reduction of sparkle plug start faults and the enhancement of the emanation controller system. Furthermore, the variable valve timing system benefits in the adjustment of valve timing in accordance with the I.C. engine cycle, decreasing carbon emissions and therefore boosting the variable valve timing (VVT) market growth. However, the rising electric vehicle adoption may hinder market growth.
The report provides the following:
- Meticulous examination of all market segments;
- Careful study of the trends and other factors influencing the growth of the market;
- Actionable research into the regional developments and competitive milieu of the market; and
- Comprehensive analysis of the overall industry outlook and market prospects.
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Market Segments:
Based on phaser type, the market is segmented into hydraulic cam phasers and electric cam phasers. The hydraulic cam phaser type segment holds the major share in the market.
Based on technology, the market is segmented into cam-phasing and cam-phasing plus changing. Based on the valvetrain type, this market is segmented into Double Over Head Cam (DOHC) and Single Over Head Cam (SOHC).
Based on the vehicle type, this market is segmented into passenger cars and commercial vehicles. The passenger car segment is expected to hold the largest variable valve timing market share due to the high sales of passenger vehicles across the globe. Based on the geography, this market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
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Lower Vehicle Loan Interest Rates to Promote Industry in Asia Pacific
In the next years, the Asia Pacific market will dominate the industry and be the fastest-growing. This is because emerging markets such as India, Japan, South Korea, and China are present. Furthermore, emerging countries in South Asia and ASEAN have a high need for VVT systems. Increased consumer per capita income, tailored finance schemes, and lower vehicle loan interest rates are some of the key reasons boosting passenger car manufacturing, which is expected to drive the worldwide automotive VVT market in the area during the forecast period.
Key Companies Engage in Expansion Strategies to Strengthen Position
With prominent companies including Mitsubishi Electric Corporation, Schaeffler Technologies AG & Co. K.G., DENSO CORPORATION, BorgWarner Inc., and Eaton, this industry is extremely competitive and fragmented. To increase their market position, prominent firms are focused on acquisitions and collaborations.
The Report Lists the Key Companies in the Market:
- Mitsubishi Electric Corporation (Tokyo, Japan)
- Schaeffler Technologies AG & Co. KG (Herzogenaurach, Germany)
- DENSO CORPORATION (Aichi, Japan)
- BorgWarner Inc. (Michigan, U.S.)
- Hitachi Ltd. (Tokyo, Japan)
- Eaton (Dublin, Ireland)
- Hilite International (Texas, U.S.)
- Mikuni American Corporation (California, U.S.)
- TOYOTA MOTOR CORPORATION (Aichi, Japan)
- Camcraft (Illinois, U.S.)
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Table Of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Developments
- Distribution Analysis
- Impact of COVID-19
- Global Variable Valve Timing Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Phaser Type
- Hydraulic Cam Phaser
- Electric Cam Phaser
- Market Analysis, Insights and Forecast – By Technology
- Cam-Phasing
- Cam-Phasing Plus Changing
- Market Analysis, Insights and Forecast – By Valvetrain Type
- Double Over Head Cam (DOHC)
- Single Over Head Cam (SOHC)
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Car
- Commercial Vehicle
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
TOC Continued…
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