As per the report published by FMI, the global automotive proportioning valves market is projected to have a rapid-paced CAGR of 11.8% during the forecast period. The current valuation of the market is US$ 195.1 Million in 2022. The market value of automotive proportioning valves is anticipated to reach a high of US$ 285.4 Million by the year 2032.
Automotive proportioning valves are gaining traction as they are being widely used in the vehicle’s brake systems for lowering the brake fluid applied to the axle set of the brake systems.
According to the findings of Future Market Insights, an unprecedented surge for the product is underpinned by the rising demand for high-speed racing cars and stringent regulations to mandate the fitment of proportioning valves in passenger and commercial vehicles.
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The demand for automotive proportioning valves is also anticipated to gain momentum owing to the need for maintaining a stable balance during emergency braking situations. They are likely to balance the brakes of the vehicles, simultaneously regulating the master cylinder’s fluid flow, and allowing the rear brakes to engage immediately before the front disc.
It is anticipated by the expert analysts at FMI that many unfavorable aspects are hampering the growth of the global automotive proportioning valves. Higher competitive costs, strict pollution regulations, and the use of electric vehicles are likely to stifle the market growth for automotive proportioning valves.
FMI has analyzed that certain technological advancements like the emergence of modern braking systems, and the demand for solenoid valves, with increasing passenger car manufacturing are inevitable to break through and open up new prospects for the market participants. Furthermore, the market is predicted to witness positive growth due to the expansion of the automotive industry and growing sales of LCVs and SUVs.
Key Takeaways from the Automotive Proportioning Valves Market
- During the forecast period, the automotive proportioning valves market will expand at a CAGR of 11.8% (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.
- The LCV segment on the basis of vehicle type, is likely to dominate the market creating an incremental opportunity of nearly US$ 1,603.9 Mn from 2022 to 2032.
- The OEM segment by sales channel is set to account for more than 90.2% of the global automotive proportioning valves market.
“Key companies are deploying safe and advanced technology for increased safety regulations for passengers and drivers. Key market players are capitalizing on surging sales of LCVs and SUVs in emerging nations to increase their revenue.” – Says an FMI Analyst
Competition Landscape in the Automotive Proportioning Valves Market
Demand for more innovative designs and an increasing focus on manufacturing low-cost machinery and equipment are projected to continue to provide profitable business prospects for big players and new entrants in the industry.
Leading players in the global market are increasingly focusing on investing huge sums in research and development activities to introduce state-of-the-art products. They are also engaging in partnerships and collaborations with domestic players to co-develop new automotive components to cater to the ever-increasing demand from customers.
General Motors, ACDelco, Knorr-Bremse AG, Emmerson Electric Co., Wilwood Engineering, Inc., Heidts Automotive LLC, Veoneer-Nissin Inc, IBARA SEIKI CO., LTD., Baer Brakes, and Baer Inc. are some of the key players in the market.
Recent Developments in the Automotive Proportioning Valves Market:
- In March 2021, Bendix Commercial Vehicle Systems, LLC notified the National Highway Traffic Safety Administration (NHTSA) that the company will recall 2,090 Bendix SC-3 check valves which are part of an air-brake system, mainly due to manufacturing problems.
- In 2020, Danfoss bought Eaton’s hydraulics business to focus on its core business, which includes valves and similar other products.
- In April 2020, Veoneer announced an initial agreement to transfer its braking control business in the United States to ZF Friedrichshafen AG for global market development.
About Future Market Insights (FMI)
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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