The automotive industry has been focusing on reducing the emission levels of vehicles. Original equipment manufacturers (OEM) are striving to develop technologically advanced and lightweight vehicle components, which can adhere to the new emission standards. One of these components is the valve, which is used for opening, closing, or obstructing the flow of a fluid (gases, liquids, fluidized solids, or slurries) to regulate, direct, or control the flow. The performance and responsiveness of different systems of the vehicle directly depend on the automotive valves. The automotive valves market has evolved from the mechanical valve to advanced electric mechanically controlled valve points. The increase in demand for fuel-efficient and lightweight vehicle components, legislation for emissions in developed countries, and increasing vehicle production are the key factors that will drive the automotive valves market.
The Automotive Valves Market, by value, is projected to grow at a CAGR of 4.1% during the forecast period, to reach USD 32.51 Billion by 2022. The global automotive valves market is segmented by region, product type, application type, function type, vehicle type, and electric vehicle type.
The global automotive valves market, by product type, is dominated by the engine valve in 2017, followed by solenoid valves, A/C valve, an automatic transmission (AT) control valve, respectively. The market for engine valve is estimated to have the largest share of the automotive valves market during the next five years. The growth of this segment can be attributed to the increased production of vehicles with advanced engine systems. The solenoid valves market is projected to grow at the highest CAGR during the forecast period due to increased electrification of vehicles.
The global automotive valves market, by vehicle type, is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger car segment is estimated to account for the largest share of the automotive valves market, followed by light commercial vehicles (LCV) and heavy commercial vehicles (HCV).
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The global automotive valves market is dominated by key players such as Continental AG (Germany), BorgWarner (U.S.), Denso Corporation (Japan), and Delphi Automotive (U.K.) among others.
By electric vehicle type, the market is segmented into the hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV), and battery electric vehicle (BEV). The HEV segment accounts for the largest share of the automotive valves market, by electric vehicle type, and is anticipated to dominate the market during the forecast period. Also, in terms of growth, the automotive valves market for HEV is projected to grow at the highest CAGR, followed by PHEV and BEV, respectively. The increasing government support for green vehicles is propelling the demand for electric vehicles, which, in turn, is increasing the demand for automotive components such as actuators and valves.
By application type, the engine system valve dominates the global automotive valves market in 2017 and is projected to remain predominant during the forecast period. The automotive valves market for the HVAC system is estimated to grow at the highest rate, followed by the brake system and others. By function type, the global automotive valves market is segmented into electric, hydraulic, pneumatic, mechanical, and others. The market for electric valves, which include solenoids, is projected to grow at a higher CAGR as compared to others.
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Asia-Pacific is estimated to account for the largest share, by value and volume, of the automotive valves market in 2017. In terms of growth, the Asia-Pacific market is projected to grow at the highest CAGR during the forecast period. Developing economies such as China and India are expected to play a major role in the backdrop of increasing vehicle production. Also, increasing installation of upgraded technology features such as Anti-lock braking system (ABS), automatic transmission, and start-stop systems is expected to add to the demand for supporting valves.
Automotive valves manufacturers
Automotive component manufacturers
Automotive valves component suppliers
Raw material suppliers for valve systems
Traders and distributors of automotive valves
Tier 1, Tier 2, and Tier 3 suppliers
Distributors and suppliers of automotive components/parts