Automotive Variable Valve Timing Market Size (2024 - 2029)

Automotive Variable Valve Timing Market Analysis

The automotive variable valve timing market was valued at USD 64.20 billion in 2021, and it is expected to reach USD 96.35 billion by 2027, registering a CAGR of 7% during the forecast period.

The COVID-19 pandemic's impact on the automotive sector led to the shutting down of assembly plants, manufacturing interruptions, and ceased export of Chinese components in the face of the lockdown situation across the world. This resulted in a significant drop in vehicle sales in early 2020, fueled by oil price fluctuations and economic slowdown in various regions. The automotive industry is recovering from the pandemic, as vehicle sales has been increased by 5% across the globe in 2021. Such an increase in vehicle sales witnessed major growth for the market.

Over the medium term, the enactment of stringent emission norms and an increase in demand for the lightweight vehicle are likely to increase the demand for variable valve timing. Growing consumer trend toward fuel-efficient vehicles, which in turn is likely to witness major growth for the market. An introduction to advanced technology such as cam phasing is likely to increase the hybridization of the vehicle, which is likely to witness significant growth for the market.

Regulatory bodies are enacting stringent rules for the emission of harmful gases from vehicles to control such situations. An automotive variable valve timing system reduces the overall carbon emission from a vehicle. This sequentially, anticipated to boost the market growth during the forecast period. The market is further driven by an increase in sales of special utility vehicles and crossover models, especially in the passenger cars segment.

The Asia-Pacific region is dominating the automotive variable valve timing market followed by Europe and North America over the forecast period. Rapid growth in the sale of passenger vehicles is one of the prime factors that boost the market growth in these regions.

Automotive Variable Valve Timing Industry Segmentation

Variable valve timing is an opening and closing of the valve at different engine speeds. Such opening and closing of the valve allows more air-fuel mixture into the engine cylinder. Variable valve timing (VVT) is used to improve performance, fuel economy, or emissions. The scope of the report covers segmentation based on phaser type, vehicle type, and geography.

Based on the phaser type, the market is segmented into hydraulic cam phasers and electric cam phasers. Based on the vehicle type, the market is segmented into passenger cars and commercial vehicles, and based on geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the world. For each segment, market sizing and forecast have been done on the basis of value (USD billion).