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Automotive Valves Market Analysis by Global Segments, Growth, Size and Forecast 2022
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The demand for electric vehicles could be propelled by the implementation of government initiatives supporting the production of green vehicles. This could in turn benefit the demand for valves, actuators, and other automotive components. Supporting valves are forecasted to invite a hefty demand with the soaring installation of upgraded technology features such as start-stop systems, automatic transmission, and anti-lock braking system (ABS).
According to Transparency Market Research (TMR), the global automotive valves market could expand at a 4.9% CAGR during the forecast period 2017–2022. By the final forecast year, the market is projected to collect a revenue of US$34.2 bn growing from a US$27.0 bn earned in 2017.
Global Automotive Valves Market: Major Insights
The need for improved fuel efficiency and reducing the impact of vehicular carbon emission footprint is prognosticated to create a host of favorable opportunities in the world automotive valves market. The introduction of novel variable valve timing (VVT) techniques for improving the performance of engines on the whole could be another factor elevating the growth of the market. This is expected to be led by the concept of engine downsizing adopted by leading manufacturers.
The world automotive valves market is envisaged to be divided into AT control valve, water valve, tire valve, exhaust gas recirculation valve, solenoid valve, fuel system valve, thermostat valve, brake valve, air conditioning (A/C) valve, and engine (inlet and outlet) valve, according to product classification. The market for engine (inlet and outlet) valve could exhibit a dominating revenue growth with an 18.0% share anticipated to be earned by 2022.
As per segmentation by vehicle, the automotive valves market could be segregated into plug-in hybrid electric vehicles (PHEVs), hybrid electric vehicles (HEVs), battery electric vehicles (BEVs), heavy commercial vehicles (HCVs), light commercial vehicles (LCVs), luxury passenger cars, premium passenger cars, mid-size passenger cars, and compact passenger cars. According to sales channel, there could be OEM and aftermarket segments offering growth opportunities in the market. By function, the market could be cataloged into electric, pneumatic, hydraulic, and mechanical and pilot-operated.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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