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Valve Seat Inserts: Evolving Trends and Technological Advancements
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According to The Business Research Company's, The valve seat inserts market size has grown steadily in recent years. It will grow from $5.67 billion in 2023 to $5.94 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to automotive industry growth, environmental regulations, maintenance and replacement needs, increasing focus on fuel efficiency and engine performance, and expansion of aftermarket sales channels.
The valve seat inserts market size is expected to see steady growth in the next few years. It will grow to $7.20 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to advances in material science, shifting consumer preferences, changes in raw material prices, availability, the growth of electric vehicles, and industry collaborations. Major trends in the forecast period include the adoption of additive manufacturing, focus on lightweight materials, integration with engine design, digitalization and simulation, and continued focus on surface treatments.
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Market Drivers and Trends:
The increasing demand for passenger cars and commercial vehicles is expected to propel the growth of the valve seat insert market going forward. Passenger cars refer to automobiles designed primarily for the transportation of passengers rather than goods. Commercial vehicles are automobiles used for transporting goods or passengers for business purposes. The demand for passenger cars and commercial vehicles is rising for several reasons, including economic growth, urbanization, and regulatory changes. Valve seat inserts are integral to both passenger and commercial vehicles by improving durability, enhancing performance, aiding in heat management, facilitating maintenance, and supporting emissions control. Their use ensures reliable engine operation across various applications and operational conditions. For instance, in October 2022, according to a report released by the Department of Infrastructure, Transport, Regional Development, Communications, and the Arts, an Australia-based government department, in Australia, the number of registered passenger vehicles rose from 14.86 million in 2021 to 15.08 million in 2022. Additionally, registrations for light commercial vehicles increased from 3.66 million to 3.82 million over the same period. Therefore, the increasing demand for passenger cars and commercial vehicles is driving the growth of the valve seat insert market.
Major companies operating in the valve seat insert market are developing innovative products, such as valve seat cutter blades, to make cutting hardened and multi-alloy valve seat materials easier. Valve seat cutter blades are tools used in engine maintenance and machining processes. These blades are typically part of a valve seat cutting tool set used to re-machine or cut valve seats in cylinder heads. For instance, in July 2021, Goodson, a US-based provider of specialized tools, launched the Saber Tooth Valve Seat Cutter Blade. It is designed to enhance valve seat cutting with a special alloy that eases the process on hardened and multi-alloy materials. These blades offer up to 30% longer life. The transition to SABER TOOTH blades will begin with seat cutter blades, identifiable by a sticker with the SABER TOOTH logo on the packaging.
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Major Key Players of the Market:
Eaton Corporation, GKN Automotive, Cooper Corp., AVL List GmbH, Mahle GmbH, Nittan Valve Co Ltd, Federal-Mogul Corporation, Fuji Oozx Inc, Del West Engineering Inc., Garima Global Pvt. Ltd, Manley Performance Products Inc., Sealed Power Corporation, Ashok Trading Corporation, Serdi LLC, Dura-Bond Bearing Company, Goodson Tools & Supplies, Erling, Arrow Precision Ltd, Qualcast LLC, Summit Valve Train LLC
Valve Seat Inserts Market 2024 Key Insights:
• The valve seat inserts market size is expected to see steady growth in the next few years. It will grow to $7.20 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%.
• Passenger Cars And Commercial Vehicles Propel Growth Of The Valve Seat Inserts
• Product Innovations Transforming Valve Seat Inserts
• Asia-Pacific was the largest region in the valve seat inserts market in 2023
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