Automotive Valves Market Insight| Key Players: Robert Bosch (Germany), Continental AG (Germany), Denso Corporation (Japan), Aisin Corporation (Japan) and BorgWarner (US).

The global Automotive Valves Market size is projected to grow from USD 25.1 billion in 2022 to reach USD 28.2 billion by 2027, at a CAGR of 2.3%, according to a new report by MarketsandMarkets™. The key driving factors behind the growth of the Automotive Valves Market are the rise in sales of vehicles, demand for HVAC systems, growing emission regulations and increasing adoption of electric vehicles.

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320 - Tables
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Solenoid valve - Expected to grow at the highest CAGR

The automotive solenoid market is expected to grow with the highest CAGR during the forecast period owing to its fast and wide field of uses. It is used in door locks, steering locks, starter motors, fuel valve control, and an anti-lock braking system (ABS). The automotive solenoid is considered suitable for electronic uses. The market is expected to witness a gradual shift from conventional mechanical actuators to electromagnetic actuators such as wastegate and VGT. Further, with electrification and the use of higher-end body control features in vehicles, solenoid valves are expected to find more uses in vehicle operation. These factors are expected to boost the demand for automotive valves in the market during the forecast period.

Hybrid Electric Vehicle (HEV) is expected to hold the largest share of the market and promising segment for component manufacturers

In this, automotive valves of both ICE vehicles and BEVs are used. These include HVAC valves, solenoid valves, brake combination valves, and tire valves. Modern HEVs are enabled with efficient improved technology such as regenerative brakes, electric motor drives, and automatic start/shutoff. Regenerative brakes convert the vehicle's kinetic energy into electric energy to recharge its electric battery. Like PHEVs, most of the systems in HEVs need automotive valves to support their smooth functioning. The market for this is the fastest growing in North America. However, Asia Pacific registered itself as the biggest market for HEVs. The rise of HEVs in the region is due to stringent emission standards imposed by various governments in the region. Additionally, several incentives are provided to emphasize hybrid vehicles. The total sales of HEVs in the Asia Pacific in 2020 were 13.8 million units, and in 2021, it was approximately 15.3 million units. With the growth of the HEV market, the Automotive Valves Market will grow during the forecast period.

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Asia-Pacific: Largest market for automotive valves

The Asia Pacific region is expected to be the largest market for Automotive Valves Market during the forecast period. The Asia Pacific is home to some of the fastest-developing economies of the world, such as China and India owing to the presence of various OEMs such as Tata Motors, Toyota, and others. Additionally, they have adopted various initiatives to attract major OEMs for the manufacture of electric vehicles in domestic markets and are emphasizing on fast adoption of electric vehicles. China is anticipated to be the largest market for automotive valves in the Asia Pacific, whereas India is evaluated to be the fastest-growing market during the forecast period. The rise in demand for passenger vehicles will be a significant driver of the growth of the market. The rise in demand for light commercial vehicles and heavy trucks in India is also expected to be a major factor in the growth of the Automotive Valves Market in the next few years. The Japanese market is evaluated to be the second largest in the Asia Pacific (APAC) succeeded by India and South Korea.

Automotive Valves Market by Propulsion and Component (ICE, EV), Vehicle Type (Passenger Cars, LCV, Trucks, and Buses), EV (BEV, PHEV, HEV), Application (Engine, HVAC, Brake), Function, Engine Valve Type and Region

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