According to Future Market Insights (FMI), the automotive brake valve market is poised to reach US$ 12,109 million by the end of 2032. The automotive brake valve market is projected to exhibit a CAGR of 5.9% over the forecast period (2022-2032).
The market is growing as a result of severe regulations requiring the installation of anti-lock braking systems (ABS) in passenger cars and commercial vehicles as well as rising demand for quick racing cars. Integrated electronic braking systems and the growing use of electrohydraulic brake valves in brake systems are other factors driving market demand.
Additionally, due to the rise of the automotive industry and increased sales of SUVs and LCVs, notably in East Asia and Europe, the market is forecast to have favourable growth during the course of the assessment period. As governments throughout the world tighten safety standards for drivers and passengers, top manufacturers are exploiting cutting-edge technologies to comply with the strict constraints. This will likely lead to a rise in market demand.
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Key Takeaways from Market Study
- During the forecast period, the automotive brake valve market will expand at a CAGR of 9%(2022-2032).
- By material type, steel is estimated to account for the highest share of more than 33%under the material segment in terms of value in 2022.
- On the basis of vehicle type, the LCVs will dominate the market creating an incremental opportunity of nearly US$ 1,603.9 Mnfrom 2022 to 2032.
- By sales channel, OEM is set to account for more than 2%of the global automotive brake valve market.
- Based on product type, the ABS modular valves held the largest market share and are projected to lead over the forecast period.
“With increased safety regaultions for drivers and passengers, key companies are deploying their advanced and safest technology to ensure the automotive brake system. Some of the key players are capitalizing on surging sales of SUVs and LCVs in emerging nations to increase their revenue”: says a Future Market Insights analyst.
Market Landscape
The automotive brake valve market is identified to be consolidated, comprising market players such as Wabtec Corporation, Master Power Brakes, and Parker Hannifin Corp. Market players forming supply contracts with local and regional automotive ancillaries are expected to drive market growth. Furthermore, tie-ups between ABS and brake valve manufacturers are fueling automotive brake valve market growth. Moreover, the continual dependency of local automotive OEMs on aftermarket sales will surge demand for automotive brake valves during the forecast period.
Know More About Automotive Brake Valve Market!
The research report analyses the market demand trend for the automotive sunroof. The global automotive brake valve market is based on macroeconomic factors, market trends & market background. As per Future Market Insights’ research scope, the automotive brake valve market report is studied and analyzed in the following segments such as by product type, vehicle type, material type, sales channel, and regions. The automotive brake valve market report gives us qualitative and quantitative information about the leading companies, incumbants, and their strategic moves to gain competitive edge.
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Key Segments Covered in Automotive Brake Valve Valve Industry Analysis
Product Type:
- Combination Valves
- Quick Release Valves
- Metering Valves
- ABS Modular Valves
- Foot & Hand Valves
- Parking Brake Valve Valves
- Emergency Valves
- Check Valves
- Spring valves
- Proportional valves
Vehicle Type:
- Compact Cars
- Mid-Sized
- Luxury Cars
- SUVs
- HCVs
- LCVs
Material Type:
- Steel
- Copper
- Brass
- Alloys
Sales Channel:
- OEM
- Aftermarket
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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