Europe is projected to hold the largest share of 22% in the VVT actuators market during the forecast period. Due to the presence of some of the most well-known manufacturers in this region, the demand for VVT actuators has increased. The majority of passenger buses and cars in the European areas have VVT actuators, which encourage fuel efficiency.
Furthermore, VVT Actuators are witnessing high demand in Eastern Europe, not just from the automotive and marine industries but also from the aerospace industry.
VVT Actuators enable mechanisms such as advancing or retarding valve timings, and also change or overlap or even lift valves in some applications. VVT actuators controls valve timing and contributes significantly to fuel efficiency improvement and emission reduction by optimally adjusting the opening and closing timing of intake and exhaust valve, as per the need of driving condition. These actuators mostly operates hydraulically and typically uses oil pressure to change the position of a phaser mechanism.
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The technology has been widely used across a variegated range of Japanese and European engines which includes Honda, Nissan, Toyota, Audi, BMW, Mercedes and Volkswagen. However, over the last few years many local manufacturers have also incorporated VVT actuators with their engines. The global VVT actuator market is expected to witness decent growth over the forecast period.
VVT Actuators Market: Drivers & Restraints
The major factors boosting the growth of VVT Actuators market is rising automation across automobile industry. With rising disposable income, the global automobile market is expected to continuously increase over the forecast period. A large chunk of this demand is anticipated to come from the developing nations of Asia pacific and Latin America.
This coupled with increasing focus on improving fuel efficiency and incorporating automation for better control, together will drive the market for VVT Actuators. Also, as local and regional car manufacturers also increasingly incorporate VVT actuators, demand is on the go.
Furthermore, it is anticipated that many countries will mandate the incorporation of VVT actuator in passenger automotive vehicles, on the backdrop of increasing fuel efficiency, which will significantly fuel the global market for VVT actuators.
Further, with the advent of driverless cars demand for VVT Actuators become unavoidable and the factor is expected to fuel the global VVT Actuators market over the end years of forecast period. However, high cost of VVT Actuators, still keeps the technology tapered with high end vehicles.
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VVT Actuators Market: Regional Outlook
Geographically, VVT Actuators market has been categorized into seven key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa.North America anticipated to be the global leader in terms of demand for VVT Actuators. The region has endorsed some of the most advanced technologies in vehicle automation, and caters wide-scale technological adoption rate.
Further with the advent of companies into driverless vehicles, demand in the regions VVT actuators market is anticipated to shoot up over the end of forecast period. Western Europe being home to some of the most prominent global car manufacturers also caters huge demand for VVT Actuators, as many passenger cars and buses in the regions comes equipped with this technology, amid saving significantly on fuel efficiency.
With increasing demand for cars in Asia Pacific Exc. Japan (APEJ) region, amid rising disposable income, demand for cars with high end features such as VVT Actuators is also on the rise. A large chunk of demand for VVT actuators is expected to come particularly from China and India based automobile manufacturers, as they shift towards global standards.
Latin America, on similar lines as APEJ is expected to boost its demand for automotive vehicles over the forecast period, fuelling more demand for VVT Actuators in the region. Eastern Europe also attracts high demand for VVT Actuators not only from automotive segments, but also from Marine and Aerospace segment.
The Middle East and Africa, VVT Actuators market is also expected to witness gradual growth over the forecast period, as global car manufacturers are expected to gradually set up their manufacturing bases in the region, over the last years of the forecast period.
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VVT Actuators Market: Key Players
Some of the players identified in Global VVT Actuators market are:-
- Mitsubishi Electric Corporation
- Camcraft, Inc.
- Metal Seal Precision, Ltd.
- Mikuni American Corporation
- Zhejiang DiMa Vehicle Industry Company
- Autorun
- GOGO Automatic Company Ltd
- Delphi Automotive LLP
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