What are the Historical Developments and Current Growth Metrics of the Automotive Valves Market?
The automotive valves market has seen considerable growth due to a variety of factors.
• There has been a consistent expansion in the size of the automotive valves market in recent times. It is projected to inflate from a valuation of $31.44 billion in 2024 to an estimation of $32.89 billion in 2025, witnessing a compound annual growth rate (CAGR) of 4.6%. The enlargement during the historical period can be credited to the surge in worldwide vehicle production, rigid emission norms, consciousness about climate change, increased acceptance of electric vehicles and the requirement for fuel-efficient vehicles.
What is the Forecasted Market Size and CAGR for the Automotive Valves Market?
The Automotive Valves market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the automotive valves market is projected to experience robust growth, expanding to an estimated worth of $41.35 billion in 2029 with a compound annual growth rate (CAGR) of 5.9%.
The anticipated surge during the forecast period is largely due to the shift towards electric and hybrid vehicles, progress in self-driving vehicles, the emphasis on lightweight and innovative materials, the inclusion of intelligent valve technologies, and worldwide sustainability efforts. Significant trends anticipated during the forecast period encompass the focus on lightweight and material innovations, the integration of intelligent valve technology, global sustainability initiatives, and the impact of digitalization and Industry 4.0.
What Key Factors and Trends Are Driving The Growth Automotive Valves Market?
The increased popularity and acceptance of hybrid electric vehicles (HEVs) is predicted to stimulate the expansion of the automotive valves market in the future. A hybrid electric vehicle (HEV) integrates an internal combustion engine (ICE) propulsion system and an electric propulsion system. Automotive valves employed in both ICE and battery electric vehicles (BEV) models are utilized in HEVs. These include HVAC valves, solenoid valves, brake combination valves, and tire valves, all contributing to the smooth operation of HEV. For instance, a report published by the U.S. Energy Information Administration Government Agency in January 2024 highlighted that in 2023, hybrids, plug-in hybrids, and BEVs represented 16.3% of all new light-duty vehicle (LDV) sales, an increase from 12.9% in 2022. The proportion of these vehicles reached a high point, amounting to 17.9% of total LDV sales in the latter half of 2023. Consequently, the escalating uptake of hybrid electric vehicles (HEVs) is fueling the progress of the automotive valves market.
What Are The Market Segments In The Automotive Valves Market?
The automotive valves market covered in this report is segmented –
1) By Product Type: Engine Valves, Air-Conditioner Valves, Brake Valves, Thermostat Valves, Fuel System Valves, Solenoid Valves, Exhaust Gas Recirculation Valves, Tire Valves, AT Control Valves
2) By Propulsion and Component: Internal Combustion Engine (ICE), Electric Vehicle
3) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Buses, Truck
4) By Application: Engine System, HVAC System, Brake System, Other Applications
Subsegments:
1) By Engine Valves: Intake Valves, Exhaust Valves
2) By Air-Conditioner Valves: Expansion Valves, Service Valves
3) By Brake Valves: Proportioning Valves, Anti-lock Brake System (ABS) Valves
4) By Thermostat Valves: Mechanical Thermostat Valves, Electronic Thermostat Valves
5) By Fuel System Valves: Fuel Injectors, Fuel Pressure Regulator Valves
6) By Solenoid Valves: Normally Closed Solenoid Valves, Normally Open Solenoid Valves
7) By Exhaust Gas Recirculation (EGR) Valves: Vacuum EGR Valves, Electronic EGR Valves
8) By Tire Valves: Valve Stems, TPMS (Tire Pressure Monitoring System) Valves
9) By AT Control Valves (Automatic Transmission Control Valves): Pressure Control Valves, Shift Control Valves
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What Trends Are Shaping The Automotive Valves Market?
The focus on product innovations is a predominant trend noticeable in the automotive valve market. Big industry players are dedicating resources towards innovative product developments to maintain their market standing. To exemplify, TLX Technologies, a machinery manufacturer based in the USA, in June 2024, launched a new line of modular valve products tailor-made for Electric Vehicle (EV) thermal management systems. These specially engineered modular valves enhance the effectiveness of EV cooling systems by providing accurate control over coolant flow, thereby improving battery performance and overall vehicle safety. These modular solutions contribute towards optimizing thermal management in electric vehicles and help improve energy efficiency and extend the longevity of essential components like batteries and electric motors. TLX's innovation underscores its commitment to bolstering the growing EV market with advanced and adaptable thermal management solutions.
Who Are the Key Players In The Automotive Valves Market?
Major companies operating in the automotive valves market include:
• Denso Corporation
• Robert Bosch GmbH
• Continental AG
• Eaton Corporation
• Aisin Seiki Co. Ltd.
• Schaeffler AG
• Mahle Group
• BorgWarner Inc.
• Federal-Mogul Holdings LLC
• Hitachi Automotive Systems
• Johnson Electric
• FTE Automotive
• Knorr-Bremse AG
• Valeo SA
• Mikuni Corporation
• Hilite International
• Rheinmetall Automotive AG
• ElringKlinger AG
• Magna International Inc.
• Camshaft Machine Company
• GKN Driveline
• AVK Holding A/S
• Cummins Inc.
• Tenneco Inc.
• Dana Incorporated
• WABCO Holdings Inc.
• Rotex Automation
• Fujikiko Co. Ltd.
What Are The Regional Insights Into The Automotive Valves Market?
Asia-Pacific was the largest region in the automotive valves market share in 2024. The regions covered in the automotive valves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
