Market Size of Automotive Valves Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Automotive Valves Market Analysis
The automotive valves market was valued at USD 31.20 Billion in 2021 and is expected to reach USD 39.48 Billion by 2027, registering a CAGR of 4% during the forecast period.
The Covid-19 pandemic adversely affected the valves market. This was mainly attributed to the halt in production of both valves and the complete vehicles as a result of worldwide lockdown and social distancing norms implemented due to the pandemic. This has led to an economic downfall of the automotive industry as a whole, and the automotive valves consequently. However, the automotive industry is recovering from the pandemic and witnessed a 5% increase in vehicle sales in 2021 as compared to 2020. This is further expected to continue during the forecast period.
Over the long term, an increase in vehicle production directly increases the demand for valves which in turn is likely to witness major growth for the market. The automobile sector has been concentrating on lowering vehicle emissions. OEMs are working to produce technologically innovative and lightweight car components that will meet the new emission criteria. The valve is one of these components, and it is used to regulate, direct, or control the flow of a fluid (gases, liquids, fluidized solids, or slurries) by opening, closing, or obstructing the flow.
Automotive valves have a direct impact on the performance and responsiveness of several vehicle systems. From mechanical valves to advanced electro-mechanically controlled valve points, the global automotive valves market has evolved. The rise in the use of solenoid valves in electric vehicles increases the performance of the vehicle, which is likely to witness significant growth in the market.
Growing vehicle manufacturer trends toward lightweight vehicles to increase the vehicle fuel efficiency which enhances the demand for lightweight components. However, emission legislation in developed nations is likely to witness major growth in the market during the forecast period.
Automotive Valves Industry Segmentation
Automotive valves are the mechanical component that is used in an internal combustion engine which allows the flow of fuel in and out through the engine cylinder during the operation.
The Automotive Valves Market is segmented by Application Type, vehicle type, function type, Sales channel, and geography. Based on the application type, the market is segmented into Engine Valves, Air Conditioning Valves, Fuel System Valves, EGR Valves, and Others. Based on the Vehicle Type, the market is segmented into Passenger Cars and Commercial Vehicles. Based on the Function Type, the market is segmented into Pneumatic, Hydraulic, and Electric. Based on the Sales Channel, the market is segmented into OEM and Aftermarket. Based on Geography, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. For each segment, the market sizing and forecast have been done on the basis of value (USD Billion).
| Application Type | |
| Engine Valves | |
| Air Conditioning Valves | |
| Fuel System Valves | |
| EGR Valves | |
| Others |
| Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
| Function Type | |
| Pneumatic | |
| Hydraulic | |
| Electric |
| Sales Channel | |
| OEM | |
| Aftermarket |
| Geography | ||||||||
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Automotive Valves Market Size Summary
The automotive valves market is poised for significant growth, driven by the recovery of the automotive industry post-Covid-19 and the increasing demand for vehicles. The market is experiencing a shift towards more technologically advanced and lightweight components, such as valves, which are crucial for regulating fluid flow and enhancing vehicle performance. The push for reduced vehicle emissions and improved fuel efficiency is prompting original equipment manufacturers (OEMs) to innovate in valve technology, including the integration of solenoid valves in electric vehicles. This trend is further fueled by the growing consumer preference for electric vehicles, leading manufacturers to develop specialized valves for these new models. As a result, the market is witnessing a robust demand for both new and aftermarket valves, with a particular emphasis on solenoid and air conditioning valves to enhance vehicle comfort and performance.
Regionally, the Asia-Pacific is leading the automotive valves market, supported by a strong presence of vehicle and component manufacturers, particularly in China and India. The rise in electric vehicle sales and the expansion of small and medium-scale industries in these regions are contributing to the market's growth. Europe is also experiencing significant revenue growth, driven by stringent emission standards and the presence of major vehicle manufacturers and suppliers. Key players in the market, such as Bosch, Hitachi Astemo, BorgWarner, Denso Corporation, and Eaton Corporation, are actively engaging in mergers and acquisitions to meet the anticipated demand from both internal combustion engine and electric vehicles. These strategic moves, along with innovations like variable valve actuation technology and new exhaust gas recirculation valves, are expected to further propel the market forward during the forecast period.
Automotive Valves Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value- USD Billion)
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2.1 Application Type
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2.1.1 Engine Valves
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2.1.2 Air Conditioning Valves
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2.1.3 Fuel System Valves
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2.1.4 EGR Valves
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2.1.5 Others
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2.2 Vehicle Type
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2.2.1 Passenger Cars
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2.2.2 Commercial Vehicles
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2.3 Function Type
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2.3.1 Pneumatic
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2.3.2 Hydraulic
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2.3.3 Electric
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2.4 Sales Channel
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2.4.1 OEM
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2.4.2 Aftermarket
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2.5 Geography
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2.5.1 North America
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2.5.1.1 United States
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2.5.1.2 Canada
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2.5.1.3 Rest of North America
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2.5.2 Europe
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2.5.2.1 Germany
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2.5.2.2 United Kingdom
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2.5.2.3 France
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2.5.2.4 Russia
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2.5.2.5 Spain
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2.5.2.6 Rest of Europe
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2.5.3 Asia Pacific
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2.5.3.1 India
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2.5.3.2 China
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2.5.3.3 Japan
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2.5.3.4 South Korea
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2.5.3.5 Rest of Asia Pacific
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2.5.4 Rest of the World
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2.5.4.1 South America
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2.5.4.2 Middle-East and Africa
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Automotive Valves Market Size FAQs
What is the current Automotive Valves Market size?
The Automotive Valves Market is projected to register a CAGR of 4% during the forecast period (2024-2029)
Who are the key players in Automotive Valves Market?
Denso Corporation, Hitachi Astemo , BorgWarner Inc., Robert Bosch GmbH and Eaton Corporation are the major companies operating in the Automotive Valves Market.
