Global Automotive Water Valve Market Growth, Evolving Technology, Profit Analysis Trends and Demands 2019 to 2026
Rise in vehicle electrification is primarily driving the global automotive water valve market. Increase in electrification boosts the load over the vehicle engine, which in turn demands a proper cooling system. Therefore, a precise and accurate water valve is of high importance for the engine cooling system and HVAC system. The valve being used must be capable to withstand high pressure generated during peak demands. Essential properties of a water valve are resistance to oxidation, chemical stability to withstand variety of coolants, high strength to withstand high pressure, and long lifespan. Development of lightweight materials, increased demand for vehicle HVAC and engine cooling, and integration of mechanical components with electronic features are expected to offer lucrative opportunities for the automotive water valve market. Asia Pacific and Latin America are witnessing a surge in per capita income, development of road infrastructure, and presence of global vehicle manufacturers. Consequently, demand for vehicles is increasing at a prominent pace across these regions. This is driving the global water valve market at a steady pace.
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The global automotive water valve market can be segmented based on type, material, sales channel, vehicle type, and region. In terms of type, the global automotive water valve market can be classified into three segments. Solenoid water valves are widely being utilized in automobiles for engine cooling and HVAC system. These valves are lightweight and easy to operate. Demand for these valves in the automotive industry is increasing due to their simplicity. Electric valves are generally of two types: always open or always close. These valves are operated by electric motors.
In terms of material, the global automotive water valve market can be categorized into two segments. Plastic water valves are widely employed due to their light weight and typically higher strength. Plastic valves are chemically inactive and can sustain typically higher pressure.
Based on sales channel, the global automotive water valve market can be bifurcated into two segments. The OEM segment accounts for a major share of the market, in terms of revenue, as water valves in a vehicle are OEM-fitted and have a long life. Passenger vehicle are witnessing an increase in integration of HVAC systems, which in turn is propelling the global automotive water valve market. The passenger vehicle segment held a major share of the market owing to the higher number of passenger vehicles than commercial vehicles.
In terms of geography, the automotive water valve market can be segmented into five prominent regions. North America and Europe witness significant penetration of HVAC systems in vehicles. Therefore, these regions hold a prominent share of the global automotive water valve market. The rate of incorporating an HVAC system into the vehicle is rising rapidly in Asia Pacific, which is likely to offer numerous opportunities for the global water valve market.
Key players operating in the global automotive water valve market include Bergstrom Inc., JAKŠA d.o.o., Rheinmetall Automotive AG, Continental AG, MAHLE GmbH, Flomatic Corporation, BorgWarner Inc., Emerson Electric Co., Bergstrom Climate Control Systems, HAWE Hydraulics Pvt. Ltd., ARaymond, Eaton, Stant Corporation, and Husco Inernational.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
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The report provides the following information:
Tailwinds and headwinds molding the market’s trajectory
Market segments based on products, technology, and applications
Prospects of each segment
Overall current and possible future size of the market
Growth pace of the market
Competitive landscape and key players’ strategies
The main aim of the report is to:
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Understand the opportunities and pitfalls awaiting them
Assess the overall growth scope in the near term
Strategize effectively with respect to production and distribution
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