The automotive engine valve market is valued at USD 6.2 billion in 2022, an increase 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 vital role in sealing combustion gases during the engine’s combustion process, effectively preventing overheating. This essential function is expected to drive demand for automotive engine valves throughout the forecast period.
With various types of engine valves and materials available, manufacturers can customize and adapt their offerings, enhancing their appeal to vehicle producers. Additionally, these valves contribute to reducing vehicle size without sacrificing performance, improving both aesthetics and functionality. This factor is anticipated to further boost sales of automotive engine valves in the coming years.
Technological advancements are positively influencing the automotive engine valve market. Governments worldwide are introducing regulations aimed at reducing air and noise pollution, and automotive engine valves are essential in addressing these challenges. This regulatory environment is expected to increase their adoption.
Furthermore, rising disposable income is making vehicles more accessible to consumers, leading to heightened demand for automotive engine valves, which are crucial components of vehicles. The growing adoption of autonomous vehicles is also projected to drive the growth of the automotive engine valve market.
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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
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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