The inlet/outlet valves or engine valves segment by product type is anticipated to grow at a significant pace over the forecast period. Increasing production of vehicle engines owing to rising demand for vehicles across the globe is a major factor which is fuelling the demand for inlet/outlet valves. Furthermore, increasing awareness amongst the population regarding preventing maintenance of vehicle is likely to increase the consumption of inlet/outlet valves over the forecast period.
The global automotive valve market is segmented into material type such as steel, titanium, nickel alloy and others. Steel segment is expected to flourish during the forecast period. Steel and steel alloys are used in most of inlet valves and some of exhaust valves due to their high strength operating temperature. Moreover, selection of materials for automotive valves can vary according to type of engine and requirement.
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Global Automotive Valve Market is expected to grow at 4.3% CAGR during the forecast period. Moreover, the global automotive valve market is expected to reach at a valuation of USD 32.8 Billion by the end of 2024. The market is expected to expand on the back of growing automotive market across the globe. In addition to this, increasing sales of sport cars and swelling demand for high performance engines are some major factors which are strengthening the market of automotive valves.
Increasing Average Life of Vehicles
Continuous advancements in automotive industry are increasing the vehicle lifespan. Further, increasing average age of vehicles is increasing the demand for automotive replacement parts such as automotive valves, automotive filter and others. Moreover, increasing number of vehicles is a major factor which is likely to increase the demand for automotive valves in future.
Increasing Sales of Sport Cars
Rising disposable income of the consumers coupled with consumer’s inclination towards luxurious life style is increasing the demand for sport cars. Further, Increasing demand for high performance car is a key factor which is anticipated to drive the growth of global automotive valve market over the forecast period.
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However, factors such as implementation of new technologies with the vehicle engines and increasing downsizing of the vehicle engine are likely to decrease the demand for the automotive valves in the near future.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global automotive valve market which includes company profiling of Continental AG, Eaton Corporation, Denso Corp., Valco Instruments Co. Inc., Robert Bosch GmBh, Hitachi Ltd., Aisin Seiki Co., Ltd., Borg Equipment & Supply Co Inc., Tenneco Inc. and Federal-Mogul Corp. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive valve market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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