Press release
Automotive Valves Market: Asia-Pacific Region to Emerge Lucrative
Global Automotive Valves Market: SnapshotThe global automotive valves market is anticipated to be pampered by the soaring demand for automobiles underlining the significance of the valves in evaluating their performance. Automobiles equipped with ecofriendly and advanced engines being highly demanded are envisioned to subsequently benefit the growth of the market. Owing to the inclination of consumers toward electric automobiles, solenoid valves could welcome a growing demand in the market.
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The electrification of automobiles, introduction of sophisticated technology, and increased manufacturing are projected to be crucial factors important for the growth of the market. New government regulations enforced on automobile manufacturers for safeguarding the environment could augment the demand for automotive valves with the production of efficient and environment-friendly automobiles.
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Engine Valve Flaunts Staggering Revenue Beating other Products
The world automotive valves market is foreseen to be classified according to four categories, viz. product, vehicle, sales channel, and function. As per the product classification, the market could be segregated 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. Amongst these, engine (inlet and outlet) valve could rake in a higher share in the market while growing at a 5.2% CAGR.
APEJ Continues to Record Overpowering Growth at Decent CAGR
APEJ is prognosticated to boast of a stronger revenue growth throughout the forecast timeframe. By the concluding forecast year, the regional market could stockpile a US$12.6 bn at an impressive CAGR. Expanding at a slightly higher CAGR than APEJ’s, North America is predicted to collect an over half of the revenue expected to be garnered by the emerging region by 2022 end.
Some of the competent companies exploring the worldwide automotive valves market could be Continental AG, Delphi Automotive, Hitachi Ltd., Denso Corporation, Federal-Mogul LLC, Eaton, FTE Automotive, MAHLE GmbH, FUJI OOZX, Inc., and Knorr Bremse AG.
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