Automotive Engine Valves Market to Benefit from Rising Need to Curb Carbon Emission
Automotive Engine Valves Market Size was valued at USD 30.05 Billion in 2023. The Automotive Engine Valves market industry is projected to grow from USD 31.25 Billion in 2024 to USD 41.13 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.49% during the forecast period (2024–2032).
Growth Boosters and Main Barriers
Leading global automakers are continuously adopting the latest production technologies and better quality materials to tackle the conventional impediments of automotive engine valves. These efforts are proving to be beneficial for these valves, securing their applications in future engines. Some of the most noteworthy technologies in the market for variable valve timing include Timing Variator, Vanos, VTEC and VVti, among others.
With the mounting concerns regarding the vehicle fuel efficiency along with the surge in government backed pollution policies, manufacturers are making use of automotive engine valves to enhance the fuel efficiency and also bring down the carbon emission footprints. The automotive engine valve market growth is also backed by the growing need to curb vehicular carbon emissions and better fuel efficiency. Also, more and more companies are adopting engine downsizing, which has led to massive investments in R&D of the latest variable valve timing techniques to boost the engine’s performance.
On a dim note, the COVID-19 outbreak has had a detrimental effect on the automotive industry worldwide, which has led to assembly plants lockdown in the United States, manufacturing interruptions in Europe as well as disruption in Chinese components exports. With the vigorous pressure on the industry, the coming years can note a downshift in the demand among end-users. To deal with the situation, automotive engine valves market players are embracing merger & acquisition activities as the top strategy to compensate for the revenue loss incurred in recent times.
Market Segmentation
The market for automotive engine valves can be considered for two key segments, namely technology and fuel types.
The technologies that have been studied by experts include Spring Return Valves, Tappet Valves, Quattrovalvole Valves and Desmodromic Valves. Tappet valves control the majority of the global market, given their extensive use in engines. Moreover, these types of valves are able to bear extreme stress and temperature, while opening and closing of the exhaust valves, which also elevates their demand in the market.
The fuel types include gasoline engine as well as diesel engine. The mounting demand for dependable power supply, high power generation capacity, and the expansion of manufacturing industries are the top growth boosters in the diesel engine market.
Regional Outlook
The regional study of the automotive engine industry covers APAC or Asia Pacific, the Americas, Europe, and RoW and the Rest of the World.
Asia Pacific can take over the leading position in the global market during the assessment period, with North America and Europe coming in second and third, respectively. The APAC market’s superlative growth in the global market is the result of the high production levels of diesel vehicles and the robust demand for fuel-efficient vehicles. The prevalence of strict emission norms imposed by the government prompt a huge number of renowned variable valve timing systems manufacturers to make sizeable investments in the automotive industry. Further, low cost labor and consistent government backing for industrialization in India and China also induce major market growth within the region.
In North America, the rampant demand for electric cars and a favorable economy outlook have taken the automotive engine market to great heights in recent years. The tremendous growth of the automotive industry in the region has led to more demand for a variety of automotive components including advanced electronics components and engine valves and powertrain components. The rising installation of advanced technology features like automatic transmission, start-stop systems and Anti-lock braking system (ABS) also add to the demand for automotive engine valves.
Top Market Vendors
Several top companies listed under Automotive Engine Valves market industry as follows;
The top market vendors identified by MRFR include Continental AG (Germany), Federal-Mogul Holdings Corp (U.S.), Hitachi Ltd (Germany), Eaton Corporation PLC (U.S.), Aptiv PLC (U.K.), FTE Automotive GmBH (Germany), Denso Corporation (Japan), Knorr-Bremse AG (Germany), to name a few.
Industry Developments
April 2020
Vyrus recently launched a motorcycle called Alyen 988, which consists of the Desmodromic valve layout. It is an automotive engine valve that does not require springs and possesses a valve closing lobe.
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