Automotive Valves Market Growing Demand for Engine Systems in Automotives

As demonstrated by Precision Business Insights (PBI), the latest report, automotive valves market is expected to be valued at USD 24,632.9 million in 2023, growing at 4.2% CAGR from 2024 to 2030. The factors positively impact the growth for the global automotive valves market include rising vehicle sales, developing adoption of hybrid electric vehicles (HEVs), increasing demand for automation comport as well as automation vehicles, elation of the vehicles and the use of advanced technology to produce valves.

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The Automotive Valves Market Detailed Segmentation:
Based on the valve type, the market is segmented into the following:
• A/c valve
• Brake valve
• Engine valves
• Thermostat valve
• Fuel system valve
• Water valve
• AT control valve
• Tire valve
• Solenoid valve
• Exhaust gas recirculation valve
• Others

Based on the application, the market is segmented into the following:
• Engine System
• Brake System
• HVAC System
• Tyres System
• Body Systems
• Others

Based on the function, the market is segmented into the following:
• Electric
• Pneumatic
• Hydraulic
• Others

Based on the vehicle type, the market is segmented into the following:
• Light Commercial Vehicle
• Heavy Commercial Vehicle
• Passenger Vehicles

Solenoid Valves to Dominate the Automotive Valves market:
Based on the Valve type, the global automotive valves market is segmented into A/c valve, Brake valve, Engine valves, Thermostat valve, Fuel system valve, Water valve, AT control valve, Tire valve, Solenoid valve, Exhaust gas recirculation valve and Others. Among all of these solenoid valves are anticipated to account for a larger revenue share in the global orphan drugs. Solenoid valves are used in various applications in contemporary cars to improve their performance and efficacy. For instance, in year 2022-2023, the price of the pig iron has increased to 37-45% every year in April-December. The rise in the cost of the chief valves such as solenoid valves Fuel system valves have increased to 45-52% year on year in april-december. Solenoid makes up 39% of the average car, whereas tire valve makes up 15%. The increase in the raw material cost has been focused on high valve prices.

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Based on the geography the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

Asia Pacific Automotive Valves Market:
The Asia Pacific market is expected to increase in the automotive valves market over the forecast period. The Asia Pacific market is expected to grow in the next seven years of forecast years due to rise in the vehicle sales, developing adoption of hybrid electric vehicles (HEVs), increasing demand for automation comport as well as automation vehicles, elation of the vehicles and the use of advanced technology to produce valves. The Asia-Pacific holds a remarkable market share for the automotive valves market because developing countries emerges as a hub for automobile manufacturers due to increasing urbanization, industrialization and rising GDP. For instance, in year 2022, the passenger cars production in China stood at 25.7 million units. While the commercial vehicle production was 5.7 million units. India recorded the total vehicle fabrication at around 27.2 million units. Moreover, large demand for passenger vehicles will be the major drive for the growth of the automotive valves market.

Additionally, the rise in demand for LCVs and heavy trucks in India is anticipated to be an important factor in the growth of the automotive valves market. Moreover, Governments in developing countries are also implementing favorable regulations. For instance, Stringent government regulations concerning the safety of the environment vitalize the manufacturers to produce fuel efficient and eco-friendly vehicles. Sequentially have resulted in the increasing in the implementation automotive valves. North America held considerable market share during the estimated period owing to the presence of well-developed industrial infrastructure, technology advancement, regulatory incentives are key market players in this region.

Strategic New Product Launches, Mergers, Acquisitions, and Concurrence are the key tactics adopted by market players:
In the recent research the automotive valves market further divulge that the key players are intensively adopting strategies such as the launch of newer engine systems, smart vehicles, HEVs launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, On July 2022, Robert Bosch penned tactic alliance Dayun automobiles. The alliances will center on areas such as smart transportation, connected mobility, autonomous driving, integrated chassis and electronic control system.

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Some of the major key players in the Automotive Valves Market are Eaton, BorgWarner Inc.,, Denso Corporation, Alfa Laval a b, Schaeffer AG, Robert Bosch GmbH, Denso Corporation Continental Ag, Valeo SA, Eaton Corporation PLC, Delphi Automotive PLC, Aisin Seiki Co., Ltd., Hitachi Automotive System Ltd.

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This release was published on openPR.