New York, June 27, 2023 (GLOBE NEWSWIRE) -- The “Global Automotive Engine Valve Market” published by Consegic Business Intelligence, stated that the market was worth USD 5,149.23 million in 2022 and is expected to reach over USD 7,385.55 million by the year 2030, growing at a CAGR of 4.7%.
Automotive engine valves also, known as check valves, are utilized for air injection in vehicles as part of emission control and exhaust gas recirculation systems. Engine valves are employed in a wide variety of combustion engines including diesel, gasoline, kerosene, natural gas, or propane. Engine valves play a crucial role in internal combustion engines to optimize the flow of fluid or gas in the combustion chambers.
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The growing adoption of automobiles among consumers for commuting purposes is driving the growth of the market. Automotive valves have a direct impact on the performance and responsiveness of several vehicle systems. Therefore, the growing need for high-performance automotive engine valves to improve the operational efficiency of the vehicle is accelerating the growth of the market. For instance, in March 2020, Cummins Inc. launched a new Exhaust Throttle Valve (ETV) for after-treatment thermal management in medium-duty engine applications.
The growing emphasis on emissions reduction by vehicles is expected to present growth opportunities for the automotive engine valve market during the forecast period. Developing valves that enable more precise control over air-fuel mixture and exhaust gas recirculation help manufacturers to meet stringent emission standards. However, the increasing adoption of electric vehicles among consumers is retraining the growth of automotive engine valve market.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 7,385.55 million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 4.7% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Continental AG, Cummins Inc., BorgWarner, Denso Corporation, Eaton Corporation PLC, Federal-Mogul Holdings Corp, FTE Automotive GmBH, Hitachi Ltd., Johnson Electric Group, Knorr-Bremse AG, Robert Bosch GmbH, Schaeffler AG |
| By Product Type | Monometallic Valves, Bimetallic Valves, and Hollow Valves |
| By Vehicle Type | Compact Passenger Cars, Mid-Sized Passenger Cars, Premium Passenger Cars |
| By Material Type | Steel, Titanium, and Nickel Alloy |
| By Fuel Type | Diesel and Gasoline |
| By Sales Channel | OEM and Aftermarket |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Automotive Engine Valve Market Growth Drivers:
- The growing adoption of vehicles among consumers for commuting and short-distance travelling is driving the growth of the market.
- The technological advancements in engine design and performance of the vehicle is accelerating the growth of the market.
- The rising government regulations to reduce carbon emissions from automobiles is propelling the growth of automotive engine valve market.
Restraints
- The growing adoption of electric vehicles among consumers is hindering the growth of the market.
Opportunities
- The growing emphasis on emissions reduction by vehicles is expected to present growth opportunities for the automotive engine valve market during the forecast period.
- Adoption of digital valves is expected to present new opportunities for market growth.
Global Automotive Engine Valve Market Segmentation Details:
Based on Product Type, the monometallic valves segment contributed the largest shares to the market growth in 2022. The ability of monometallic valves to offer durability, high-temperature resistance, and excellent sealing properties under high-stress conditions is driving the growth of the market. Moreover, monometallic valves provide reliable performance for automotive engines, resulting in market growth.
Based on Vehicle Type, the mid-sized passenger cars segment accounted for the maximum revenue share in the year 2022. The increasing adoption of mid-sized passenger cars due to their low cost and affordability is driving the growth of the market. Accordingly, the demand for engine valves including sleeve valve, rotary valve, and reed valve for mid-sized passenger cars is propelling the market growth. Therefore, manufacturers are increasingly producing a wide range of engine valves for both gasoline and diesel engines, resulting in market growth.
Based on Material Type, the steel segment accounted for the maximum revenue share in the year 2022. The ability of steel valves to allow efficient functioning of engines under conditions of severe heat and corrosive stress is driving the growth of the market. Moreover, the application of magnetic and non-magnetic steels for inlet and exhaust valves in IC engines is proliferating the growth of the market.
Based on Fuel Type, the gasoline segment accounted for the maximum revenue share in the year 2022. The application of spark-ignited ICE engine in gasoline-powered vehicles increases the demand for high-performance engine valves for optimization of air flow into the combustion chamber. Therefore, the increasing demand for efficient transmission of fuels in the engine is driving the growth of the market.
Based on the Sales Channel, the OEM segment accounted for the maximum revenue share in the year 2022. OEMs provide automotive engine valves at affordable price points, thereby creating a large consumer base. Moreover, OEMs are investing heavily in building brand recognition to allow automotive manufacturers to purchase engine valves directly from OEM, resulting in market growth.
Based on region, Asia-Pacific accounted for the largest revenue share in the year 2022. The expansion of manufacturing facilities and investments in the automotive sector is driving the growth of automotive engine valve market in the region. Moreover, the increasing adoption of automobiles among consumers for personal and commercial purposes is accelerating the growth of the market.
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Recent Developments
- In April 2022, Cummins Inc. completed the acquisition of Jacobs Vehicle Systems (JVS). The acquisition of JVS produces USMCA-qualified engine components including engine braking and cylinder deactivation systems for aftermarket automotive products.
Key Market Highlights
- Globally, the automotive engine valve market is divided based on product type into monometallic valves, bimetallic valves, and hollow valves.
- In the context of vehicle type, the market is segregated into compact passenger cars, mid-sized passenger cars, premium passenger cars.
- In the context of material type, the market is separated into steel, titanium, and nickel alloy.
- Based on the fuel type, the market is bifurcated into diesel and gasoline.
- Based on sales channel, the market is separated into OEM and aftermarket.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
- Asia-Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in automotive engine valve market.
List of Major Global Automotive Engine Valve Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
• Continental Automotive Technologies GmbH
• BorgWarner
• Denso Corporation
• Eaton Corporation PLC
• Federal-Mogul Holdings Corp
• FTE Automotive GmBH
• Hitachi Ltd
• Johnson Electric Group
• Knorr-Bremse AG
• Robert Bosch GmbH
• Schaeffler AG
• Cummins Inc.
Global Automotive Engine Valve Market Segmentation:
- By Product Type
- Monometallic 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 Fuel Type
- Diesel
- Gasoline
- By Sales Channel
- OEM
- Aftermarket
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Key Questions Covered in the Automotive Engine Valve Market Report
- What is automotive engine valve?
- The automotive engine valves play a crucial role in controlling the flow of fuel and exhaust gases in an engine cylinder. Automotive engine valves transmit air through the inlet and exhaust valves into the chamber.
- What are some of the most important applications of automotive engine valve and how do they impact the industry's growth potential?
- Automotive engine valves have crucial role in the internal combustion engine to allow or stop the flow of fluid or gas from cylinders or combustion chambers. Moreover, engine valves reduce the emissions from the automobiles by improving the performance of the engine.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the automotive engine valve growth in the coming years?
- Asia-Pacific accounted for the largest revenue share in the year 2022. The growing demand for automobiles in countries such as India, China, and Japan for commuting and day-to-day travelling is driving the need for automotive engine valves market.
- Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?
- North America is anticipated to register the fastest CAGR growth during the forecast period. The emission control standards set by the government in the United States is contributing to the development of high-performance automotive engine valves.
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