New York, US, June 22, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Automotive Electronic Expansion Valve Market Information by Type, Application, and Region - Forecast till 2030”, the Automotive Electronic Expansion Valve Market Could thrive at a rate of 6% between 2022 and 2030. The market size will be reaching around USD 1.13 Billion by the end of the year 2030.
Automotive Electronic Expansion Valve Market Synopsis
An Automotive Electronic Expansion Valve is a crucial component in automotive air conditioning systems that regulates the flow of refrigerant. It controls the amount of refrigerant entering the evaporator, maintaining optimal cooling efficiency. This electronically controlled valve adjusts refrigerant flow based on real-time conditions, such as temperature and pressure, ensuring precise and efficient cooling performance in vehicles.
The uses and applications of Automotive Electronic Expansion Valves are primarily focused on automotive air conditioning systems. They are commonly found in passenger cars, commercial vehicles, and other automotive applications where climate control is essential. The expansion valves play a crucial role in maintaining the desired cabin temperature by precisely regulating the flow of refrigerant through the evaporator. This ensures efficient cooling, improved fuel efficiency, and enhanced comfort for vehicle occupants.
Automotive Electronic Expansion Valve Market Competitive Landscape:
The affluent companies in the Automotive Electronic Expansion Valve industry include
- Fujikoki
- SANHUA
- DunAn
- Saginomiya
- Parker
- Emerson
- Castel
- CAREL INDUSTRIES
- VOLGA
- Danfoss Group
- Among others.
Get Free Sample PDF Brochure:
https://www.marketresearchfuture.com/sample_request/10617
Recent development
This innovative expansion valve incorporates state-of-the-art electronic control algorithms and sensors to optimize cooling system performance. It enables more precise regulation of refrigerant flow, resulting in improved energy efficiency and enhanced cooling capacity. This development highlights the continuous efforts of key market players to introduce advanced technologies and enhance the performance of automotive air conditioning systems.
COVID 19 Analysis
The COVID-19 pandemic had a significant impact on the Automotive Electronic Expansion Valve Market. The global automotive industry witnessed a temporary decline in production and sales due to lockdown measures, disrupted supply chains, and decreased consumer spending. As a result, the demand for automotive electronic expansion valves was affected. However, as economies recover and automotive production resumes, the market is expected to rebound. Post-COVID, the market is likely to witness increased demand for energy-efficient and advanced air conditioning systems in vehicles, driving the adoption of electronic expansion valves.
Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: USD Significant Value |
| CAGR during 2022-2030 | 6% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application |
| Key Market Opportunities | Temperature control quality · Flexible arrangement |
| Key Market Dynamics | The rising demand for silent, compact\r\n · Independent engine cooling systems |
Browse In-depth Market Research Report (111 Pages) on Automotive electronic expansion valves Market:
https://www.marketresearchfuture.com/reports/automotive-electronic-expansion-valve-market-10617
Market USP Covered:
Automotive Electronic Expansion Valve Market Drivers:
There are three market-driving factors contributing to the growth of the Automotive Electronic Expansion Valve Market. Firstly, the increasing demand for comfort and luxury features in vehicles drives the adoption of advanced air conditioning systems, including electronic expansion valves. Vehicle manufacturers are incorporating these valves to provide superior cooling performance and enhanced comfort for passengers. Secondly, the growing awareness and concerns regarding environmental sustainability are pushing the automotive industry to develop more energy-efficient solutions. Electronic expansion valves play a significant role in improving the energy efficiency of air conditioning systems, reducing fuel consumption, and minimizing environmental impact. Lastly, stringent regulations and standards related to vehicle emissions and energy efficiency drive the demand for advanced air conditioning technologies, including electronic expansion valves.
Automotive Electronic Expansion Valve Market Restraints:
There are market restraints for the Automotive Electronic Expansion Valve Market. One significant challenge is the high cost associated with electronic expansion valve systems compared to conventional mechanical valves. This cost factor can limit the adoption of electronic expansion valves, particularly in price-sensitive market segments. Additionally, the complexity of electronic expansion valve systems requires specialized skills for installation, maintenance, and repair, which can pose challenges in terms of the availability of trained technicians and increased service costs. Moreover, the market may face challenges related to compatibility issues with existing vehicle platforms and the need for integration with other electronic systems in vehicles.
Ask for Customization:
https://www.marketresearchfuture.com/ask_for_customize/10617
Automotive Electronic Expansion Valve Market Segmentation
By Type
By Type, the segment includes Electromagnetic and Electric.
By Application
By Application, the segment includes Commercial Vehicle and Passenger Cars.
Regional Insights
Europe showcases a strong presence in the Automotive Electronic Expansion Valve Market. The region's focus on energy efficiency and stringent environmental regulations promotes the adoption of electronic expansion valves in automotive air conditioning systems. With a commitment to reducing carbon emissions and improving sustainability, European countries encourage the implementation of advanced technologies that optimize energy usage.
Asia Pacific is experiencing remarkable growth in the Automotive Electronic Expansion Valve Market. The region's expanding automotive industry, particularly in countries like China, Japan, and India, contributes significantly to the market's growth. Rising consumer demand for improved comfort and convenience features in vehicles drives the adoption of electronic expansion valves. As disposable incomes rise and lifestyles become more affluent, the demand for advanced air conditioning systems increases.
Buy Now Premium Research Report:
https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=10617
North America benefits from the presence of major automotive manufacturers and a high demand for comfort features, Europe emphasizes energy efficiency and environmental regulations. Asia Pacific leverages it is expanding automotive industry and increasing consumer demand for enhanced comfort and convenience. The combined growth in these regions reflects the global significance and promising future of the Automotive Electronic Expansion Valve Market.
Related Reports:
Micro Mobility Market Research Report Information By Application, By Types, By End Users, And By Region– Market Forecast Till 2030
Electric Motorcycle Market Research Report Information By Vehicle Range, By Battery Type, By Voltage, And By Region– Market Forecast Till 2030
Electric Truck Market Research Report Information By Propulsion Type, By Type, By End User By Range By Battery Capacity and Region - Forecast till 2030
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
