Automotive Valves Market Growth, Analysis Unlocking the Potential for Smart Mobility
A research report by Spherical Insights & Consulting indicates that the global automotive valves market is expected to grow from USD 28.3 billion in 2022 to USD 42.39 billion by 2032, reflecting a Compound Annual Growth Rate (CAGR) of 3.8% over the forecast period.
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Automotive valves are versatile components used in internal combustion engines (ICE) and electric vehicles (EV) to control the flow of gases, liquids, and other fluids. The demand for automotive valves is rapidly growing, driven by the expansion of global car production. Factors such as stricter carbon emissions regulations and the rising need for high-performance engines are contributing to this growth. The automotive valves market is also benefiting from increased vehicle production and higher disposable incomes in developed countries, which is fueling demand for high-powered vehicles. Additionally, the market is experiencing steady growth due to the rising production of cars, higher adoption rates of electric and hybrid electric vehicles (HEVs), increasing consumer demand for comfort, supportive government policies, and rising vehicle automation levels. Moreover, the growing consumer preference for fuel-efficient, durable, and technologically advanced vehicles is expected to further drive the expansion of the global automotive valves market during the forecast period.
Browse key industry insights spread across 200?pages with 110?market data tables and figures & charts from the report on?"Global Automotive Valves Market Size, Share, and COVID-19 Impact Analysis, By Product (Tire Valves, A/c Valves, Brake Valves, Water Valves, Solenoid Valves, AT Control Valves, Engine Valves, Thermostat Valves, Fuel System Valves, Exhaust Gas Recirculation Valves, Others), By Actuation Method (Electric, Pneumatic, Hydraulic, Others), By Application (Engine System, HVAC System, Brake System, Others), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The engine valves segment is the dominant player in the global automotive valves market, holding the largest revenue share of 38.6% during the forecast period.
This is due to the essential role engine valves play in vehicle operation. As critical components in internal combustion engines, the demand for engine valves continues to grow alongside the global increase in vehicle production. There is also consistent demand for efficient and durable engine valves across all vehicle types, ranging from passenger cars to commercial vehicles.
The electric valves segment is witnessing significant growth, with a notable compound annual growth rate (CAGR) during the forecast period.
This surge is driven by the growing adoption of electronic control systems in modern vehicles. As vehicle electrification, enhanced connectivity, and advanced vehicle management systems become more widespread, electric valves, known for their rapid response and precise control, are becoming more common.
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The engine system segment is expected to hold the largest market share in terms of application.
This is due to the fact that internal combustion engine vehicles require multiple intake and exhaust valves. Given the high volume of vehicle production and the critical need for these valves in engines, the engine system segment is expected to dominate the market throughout the forecast period.
Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is leading the market, accounting for over 38.7% of the market share during the forecast period. This dominance is primarily driven by substantial vehicle production in countries like China and India, along with the presence of major automakers in Japan and South Korea. China's large automotive output and its expanding middle class, which drives greater demand for vehicles, significantly contribute to the region's market leadership
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Key Market Developments
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Automotive Valves Market based on the below-mentioned segments:
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Automotive Valves Market, Product Analysis
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Automotive Valves Market, Actuation Method Analysis
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Automotive Valves Market, Application Analysis
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Automotive Valves Market, Vehicle Type Analysis
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Automotive Valves Market, Regional Analysis
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