The automotive engine valve market is valued at USD 6.2 billion as of 2022, up from USD 5.89 billion in 2021. The market is projected to grow at a CAGR of 2.3% during the forecast period, reaching an anticipated valuation of USD 7.78 billion by 2032.
Automotive engine valves play a crucial role in sealing combustion gases during the engine’s combustion process, preventing overheating. This key function is expected to drive demand for automotive engine valves over the forecast period.
There are various types of automotive engine valves and materials, offering customization and flexibility, which are attractive features for vehicle manufacturers.
Additionally, these valves help reduce vehicle size without compromising performance, enhancing the vehicle’s look and feel. This is expected to boost sales of automotive engine valves during the forecast period.
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Rapid technological advancements are also having a positive impact on the automotive engine valve market. Governments worldwide are implementing regulations to combat air and noise pollution, and automotive engine valves are effective in managing both. This is expected to drive their adoption.
Increasing disposable income has made vehicles more affordable for consumers, further boosting demand for automotive engine valves, a critical vehicle component. Moreover, the rise in the adoption of autonomous vehicles is expected to drive the automotive engine valve market growth.
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 USD 5.89 billion as of 2021.
- The market is valued at USD 6.2 billion as of 2022.
- The automotive engine valve market is expected to reach a valuation of USD 7.78 billion 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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