The 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.
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.
The global automotive valves market is envisaged to parade a valuation of US$34.2 bn by the end of 2022 at a CAGR of 4.9% between 2017 and 2022. In 2017, the market was valued at a US$27.0 bn.
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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.
The international automotive valves market is prophesied to see a product segmentation 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. By 2022, engine (inlet and outlet) valve could achieve a larger revenue of US$6.1 bn.
By vehicle, 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 are anticipated to divide the international automotive valves market.
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By sales channel, OEM and aftermarket could be the two chief segments for the international automotive valves market.
The analysts authoring the report on the worldwide automotive valves market study some of the vital industry players. Readers could gain important knowledge about companies such as Continental AG, Delphi Automotive, Hitachi Ltd., Denso Corporation, Federal-Mogul LLC, Eaton, FTE Automotive, MAHLE GmbH, FUJI OOZX, Inc., and Knorr Bremse AG.