The automotive engine valve market is valued at US$ 6.2 billion as of 2022. In 2021, it had a valuation of US$ 5.89 billion. The market is projected to grow at a CAGR of 2.3% during the forecast period. By 2032, the market is anticipated to hold a valuation of US$ 7.78 Billion.
They play a crucial role in sealing the combustion gases when the engine undergoes the combustion process. This ensures that the engine does not get overheated. This is expected to drive the demand for automotive engine valves during the forecast period.
Moreover, there are different kinds of automotive engine valve types and automotive engine valve materials. This provides the option of customization as well as flexibility.
Additionally, they are also effective in reducing the size of the vehicle without impacting its performance. This gives a look and feel to the vehicle. This is expected to drive the sales of automotive engine valves during the forecast period.
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Furthermore, technological advancements are happening at a rapid pace, and this is touted to have a positive impact on the automotive engine valve market.
Governments across the world are laying down rules to combat air pollution as well as noise pollution. The best thing associated with automotive engine valves is that they effectively manage both. This is expected to drive the adoption of automotive engine valves during the forecast period.
There has also been an increase in the disposable income of consumers as compared to what it was a few years back. This has allowed consumers to afford vehicles. The automotive engine valves are one of the major components of vehicles.
Additionally, an increase in the adoption of autonomous vehicles is expected to drive the automotive engine valve market.
Key Takeaways from the Automotive Engine Valve Market Report:
- The automotive engine valve market is expected to grow at a CAGR of 2.3% during 2022-2032.
- The automotive engine valve market was valued at US$ 5.89 bn as of 2021.
- The market is valued at US$ 6.2 bn as of 2022.
- The automotive engine valve market is expected to reach a valuation of US$ 7.78 bn by 2032.
- Based on the product type, bimetallic valves are expected to have the highest market share during the forecast period.
- Based on the vehicle type, compact passenger cars are expected to have the highest market share during the forecast period.
- Based on the material type, titanium is expected to have the highest market share during the forecast period.
- Based on the sales channel, OEMs are expected to have the highest market share.
Competitive Landscape:
The automotive engine valve market is seeing several mergers and acquisitions. Apart from that, strategic partnerships are also seen to develop the best quality valves for the customers.
Some of the recent developments in the automotive engine valve market are:
In August 2022, Knorr-Bremse announced that it would equip Alstom Coradia stream trains for the German federal state of Baden-Wurttemberg.
In August 2022, Hitachi launched Grid-eXpand to accelerate grid expansion for a Carbon-Neutral future.
Leading Key Players:
- Mahle Group
- Knorr-Bremse AG
- Hitachi Ltd.
- FUJI OOZX Inc.
- FTE automotive GmbH
- Federal-Mogul Holdings Corp
- Eaton Corporation Plc.
- Denso Corporation
- Delphi Automotive PLC
- Continental AG
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Automotive Engine Valve Market Segmentation:
By Product Type:
- Mono Metallic 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 Sales Channel:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa (MEA)
- Europe
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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