The automotive engine valve market was valued at USD 5.89 Billion in 2021. As of 2022, the valuation has increased to USD 6.2 Billion. The automotive engine valve market is expected to grow at a CAGR of 2.3% during the forecast period. The market is expected to reach a valuation of USD 7.78 Billion by 2032. This growth can be attributed to the following factors:
| Attributes | Value |
|---|---|
| Automotive Engine Valve Market Valuation (2021) | USD 5.89 Billion |
| Automotive Engine Valve Market Valuation (2022) | USD 6.2 Billion |
| Automotive Engine Valve Market Projected Size (2032) | USD 7.78 Billion |
| Automotive Engine Valve Market Anticipated CAGR (2022-2032) | 2.3% |
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Electric car valves are being developed by valve manufacturers in response to the rising consumer trend toward electric automobiles. The requirement for engine valves for already used engine-powered cars is expected to rise throughout the projected period as a result of several vehicle manufacturers' plans to migrate from engine-powered to electric vehicles.
For example, The European Union resolved in June 2022 to ban the sale of combustion-engine automobiles in Europe by the year 2035. Light commercial vehicles and gasoline and diesel automobiles would no longer be sold, according to the Union. Also, BYD stopped making internal combustion engine vehicles in April 2022. From now on, the firm makes battery electric and plug-in hybrid automobiles.
The need for valves such as air conditioning valves and solenoid valves to improve convenience and vehicle performance is projected to rise as car manufacturers shift more of their production toward electric vehicles. This market is probably going to increase significantly as a result.
However, because there are so many ICE vehicles still on the road, it is projected that the market for aftermarket valves will remain strong throughout the projection period. During the projection period, demand for aftermarket valves is expected to rise as a result of valve manufacturers' competitive pricing on aftermarket valves.
When it comes to revenue throughout the anticipated time frame, the Asia-Pacific region will dominate the market for automotive valves. The industry is anticipated to increase significantly due to the significant presence of automakers and suppliers in the area.
Due to the rise in vehicle manufacturing, China possesses one of the largest automotive marketplaces. As a result, valves are in high demand throughout the country. There is substantial demand for valves nationwide as a result of the increase in sales of electric vehicles.
India's small and medium-scale industries are growing quickly, which will likely lead to significant market expansion. The demand for valves is probably going to rise along with the demand for light industrial and large commercial vehicles nationwide.
Due to shifting demographics and a generally improved economy, the vehicle markets in China and India are expanding faster than those in other nations. China produced 21.5 million passenger cars in 2021, 5.7 million commercial vehicles, and 21.5 million passenger cars.
Around 23.7 million vehicles were produced in India overall. With such developments in the APAC automotive engine valve market, the region will continue to dominate the global market during the forecast period.
The biggest advantage of employing automotive engine valves is that they seal the combustion gases during the combustion and compression process. This is extremely crucial for providing safety to the vehicles. This is expected to drive the sales of automotive engine valves during the forecast period.
Additionally, the automobile market is expected to grow in the future, and the different kinds of automotive engine valve types, and automotive engine valve materials are something that is expected to drive sales. This provides wide variety, and in some cases, the ability to customize as well. This is expected to drive the demand for automotive engine valves in the coming years.
Moreover, the automotive engine valves play a crucial role in reducing the size of the vehicles. One of the biggest assets of employing them is that they assist in reducing the size of the engine without changing the power. This as well is expected to drive the sales of automotive engine valves during the forecast period.
Furthermore, there are technological advancements happening at a rapid pace. These technological advancements are shaping up the automobile sector as well. This is visible in the way manufacturers are employing the necessary methods to improvise the engine valves. This as well might drive the demand for automotive engine valves during the forecast period.
Additionally, there are stringent rules that are being set up by the government to promote the adoption of eco-friendly vehicles. This step is taken at a time when leaders across the world are taking sustainable measures for a better future. This might as well drive the sales of automotive engine valves during the forecast period.
Moreover, there has been a rapid increase in the disposable income. This has ultimately increased the sales of vehicles. These vehicles do make use of engine valves, which is expected to surge the automotive engine valve market.
However, there are a few factors that are leading to the lack of growth in the automotive engine valve market. One of them being overheating. This has been specifically observed in the case of hollow valves.
This overheating has certainly hit the growth prospects of the automotive engine valve market.
This is observed from the fact that the Year-on-Year growth rate from 2021 to 2022 was a good 5.2%. But, the expected CAGR for the forecast period has been slashed down to 2.3%, which is a matter of grave concern for the automotive engine valve market. This might negatively impact the demand for automotive engine valves during the forecast period.
Principal Consultant
There has been a growing clamor for the adoption of alternate fuels. This is expected to influence the design and development of automotive engine valves.
Pollution reduction remains the foundation of all these developments, and this will lead to reducing sulfur content, once the developments are implemented. This might drive the sales of automotive engine valves during the forecast period.
Moreover, the automotive engine valves will also lead to a reduction in noise pollution. The reason is that noise-producing parts like rocker arms, and valve cams are not used in automotive engine valves. This coupled with the ability to reduce pollution has captured the attention of investors to a great extent in the automotive engine valve market.
Furthermore, the lubrication system performs with a higher efficiency with the application of an automotive engine valve. The reason is that they make it easier for the pushrods to bring the oil to the top end rather than pushing it in the passageways and blocking the smooth functioning of the engine. This might as well drive the demand for automotive engine valves during the forecast period.
Additionally, the presence of more valves would ensure that the flow of intake and exhaust gases drastically improves, thereby enhancing the output and increasing the combustion process.
Based on the research conducted by FMI, the autonomous vehicles market is expected to grow at a CAGR of 10.9% during the forecast period.
One of the most important benefits of automotive engine valves in the usage of autonomous vehicles is that they drastically reduce noise pollution. This is expected to drive the sales of automotive engine valves during the forecast period.
Additionally, autonomous vehicles or either partially or fully automated. This is to reduce human intervention. The automotive engine valves, as the name suggests, are automated in nature. With the increasing application of Automation and Robotics, engine valves are expected to undergo massive technological upgradation.
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Increased usage of electric cars
There has been an increase in the adoption of electric cars. These as well offer a number of advantages like environment-friendly operation, affordable pricing, etc. However, when it comes to the usage of automotive engine valves, it is a matter of concern.
The requirement of a number of valves in electric cars is much less as compared to conventional cars, which might run at even 4 valves. This might pose a challenge to the demand for automotive engine valves during the forecast period.
Inflation and the rising cost of raw materials
The covid 19 pandemic followed by the Russia-Ukraine war has massively affected the supply chain activities as a result of which the raw materials are not able to reach the market. This has led to a massive increase in the price of raw materials.
There are also cases where the raw materials are not present because of the above-mentioned factors, as a result of which the manufacturing process has taken a massive hit. This might present restraints in the sales of automotive engine valves during the forecast period.
Increased technical problems associated with valves
As the valves become older, they might create certain issues. Some of them are continuous replacement, extreme sensitivity to voltage fluctuations, unintended partial closure of the valve, and defective armature tubes.
Additionally, if the engine becomes heated up, it might lead to valves being unable to function properly, and making certain types of sounds. This might potentially hamper the automotive engine valve market during the forecast period.
There is a buzz in the automotive engine valve market regarding the development of different kinds of valves. These new generation valves would support high flow capacities. These have been developed with a coil rating of 3W / 5 VA.
Additionally, the 2 way and 3-way solenoid valves have been developed for operating mini cylinders. These valves are believed to be suitable for water, air, and different kinds of vacuum applications. These are some of the trends that are driving the automotive engine valve market.
The bimetallic engine valves are expected to have the highest share in the automotive engine valve market followed by the mono-metallic valves. The reason being the bimetallic valves provide extremely high-temperature resistance and high corrosion resistance. Additionally, these are known to possess high tensile strength.
However, if we talk about mono-metallic valves, even these are known to provide high resistance and anti-friction capabilities.
The problem associated with the usage of hollow valves is that these are prone to overheating. Therefore, these are not preferred to that extent.
In fact, based on research conducted by FMI, hollow valves had a share of around 25% of global revenues in 2017. Owing to the problems associated with hollow valves, these are expected to grow at a subpar CAGR of 4.7%.
The compact passenger is expected to be the largest segment during the forecast period. This is because of the huge number of sales that happen on a year-on-year basis. Apart from that, compact passenger cars are much more affordable as a result of which they are most commonly seen plying on roads.
The mid-sized passenger cars are expected to follow compact passenger cars during the forecast period.
Despite the fact that the aftermarket sales channel is much cheaper as compared to OEM, it is expected that the OEM sales channel are expected to have a higher share in the automotive engine valve market during the forecast period.
The reason is that the OEM parts are manufactured solely by the manufacturers themselves, and these are designed to fit with the other parts of the vehicle. Moreover, this would also help the customer save a lot of time as they themselves do not have to indulge in the quality check aspects.
Titanium is expected to have the highest share in the automotive engine valve market. Because it has the ability to handle both strength and weight. Moreover, these are chemical, corrosion, and heat resistant.
In fact, Titanium has the ability to withstand a temperature much greater than 500oC. Additionally, Titanium is weldable, possesses excellent fabricability, and is effective in challenging industrial applications.
Titanium is expected to be followed by steel. The reason being it offers excellent heat and corrosion resistance. Moreover, it is also known for its weldability and machinability.
Fast infrastructural development, increasing disposable income, and increasing investments by the ruling authorities and the corporate giants in the automobile and related sector is expected to make Asia Pacific the largest market during the forecast period. It is also expected to be the fastest-growing market during the forecast period.
India and China are the largest players in this region and are virtually driving the entire Asia-Pacific market.
By looking at the developments happening in China, it can certainly be inferred that a deal regarding opening a new automobile factory is signed on a consistent basis.
Quite recently, Tesla decided to triple the deliveries of China-made cars after an upgrade in Shanghai Plant. Apart from that, companies like Great Wall and BYD are also on a mission to expand their presence.
If we see things from India's perspective, Gilles Mabire, the CTO of Continental AG mentioned India as the ‘playground for developing autonomous technology for Continental’. This statement holds a lot of water, because of the huge amount of money pushed in via FDI. Moreover, there is a consistent push to integrate HPC with the vehicles.
This will help in the manufacturing of better-quality vehicles, where tracking even the smallest things on the road would become much easier. This would drastically reduce road mishaps. The increasing adoption of these cars would definitely have a positive impact on the automotive engine valve market share.
There is not much development happening in the start-up environment of the automotive engine valve market.
The increased adoption of electric cars and the requirement for lesser valves in the upcoming cars might be the reason why nobody is willing to invest.
But, with automation increasing at a huge rate, and technological advancements happening on an almost daily basis, the potential start-ups can turn the tide in their favor.
If the proper implementation of robotics is made in this space, nothing can stop the growth of the automotive engine valve market. The reason is that the operation of these valves should be in complete synchronization with other parts, and robotics can do wonders with proper application.
With an attempt to diversify their offerings, the key players are investing to offer related products like wheel bearings and wheel hubs. They are also entering into strategic partnerships with other key players to further strengthen the partner network. This is expected to add significant value to the key players.
Some of the recent developments in the automotive engine valve market are:
The Mahle Group has always wanted to make a key difference in the transportation sector. They believe that it can be achieved by making transportation more efficient, environmentally friendly, and comfortable. They have continuously optimized combustion engines, and have always promoted the usage of alternate fuels.
Their competence lies in Engine systems and components, and thermal management. Owing to its expertise in electrical and electronic components and systems, Mahle can offer integrated system solutions for e-mobility. Mahle components and systems have been used across the racetracks and off the road worldwide.
On 5th September’22, Mahle developed technologies for clean shipping. The components used in the fuel cells make zero emissions possible using Hydrogen.
Continental AG is a huge player in this market. They believe in creating highly developed, intelligent technologies for mobility and transporting materials. They aspire to carry forward the image of being a highly reliable and respected partner by creating the highest possible value.
They have always laid emphasis on safety and zero accidents. They also strive to provide high comfort and save time while traveling. Moreover, they have always believed in creating a sustainable future.
Continental AG has always believed in thinking and acting holistically, and in a networked manner, as a result of which they are faster than others when it comes to transforming ideas to mass production.
On 7th July’22, Continental AG acquired American Belting Manufacturer WCCO Belting to further strengthen its agricultural business.
Denso Corporation is a pioneer in the automotive engine valve market. Denso has always made efforts to provide each person with their optimal mode of transportation. They have always wanted to enable people to travel where they want to, thereby ensuring that the things they want are delivered to them.
On 22nd July’22, Denso Corporation, BluE nexus corporation, and AISIN Corporation announced that they had jointly developed a new 1-motor hybrid transmission, which would be used for Toyota’s new crown CROSSOVER RS.
The automotive engine valve market is expected to grow at a CAGR of 2.3% during the forecast period
The automotive engine valve market is expected to be valued at USD 7.78 billion by 2032.
The automotive engine valve market is valued at USD 6.2 million as of 2022.
Asia Pacific is the largest automotive engine valve market.
The main factors are the ability to seal the combustion gases and the increased adoption of autonomous vehicles.
1. Executive Summary | Automotive Engine Valves Market 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in US$ Million) Analysis 2017 to 2021 and Forecast, 2022 to 2032 8. Market Background 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type 9.1. Mono metallic valves 9.2. Bimetallic valves 9.3. Hollow valves 9.4. Others 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Vehicle Type 10.1. Passenger Cars 10.1.1. Compact Passenger Cars 10.1.2. Mid-sized Passenger Cars 10.1.3. Premium Passenger Cars 10.1.4. Luxury Passenger Cars 10.2. Light Commercial Vehicles 10.3. Heavy Commercial Vehicles 11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Material Type 11.1. Steel 11.2. Titanium 11.3. Nickel Alloy 11.4. Other Materials 12. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Sales Channel 12.1. OEM 12.2. Aftermarket 13. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region 13.1. North America 13.2. Latin America 13.3. Europe 13.4. East Asia 13.5. South Asia and Pacific 13.6. Middle East and Africa (MEA) 14. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17. South Asia and Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032 18. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032 19. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032 20. Emerging Countries Market Analysis 21. Market Structure Analysis 22. Competition Analysis 22.1. Continental AG 22.2. Mahle Group 22.3. Knorr-Bremse AG 22.4. Hitachi Ltd. 22.5. FUJI OOZX Inc. 22.6. FTE automotive GmbH 22.7. Federal-Mogul Holdings Corp 22.8. Eaton Corporation Plc. 22.9. Denso Corporation 22.10. Delphi Automotive PLC 23. Assumptions and Acronyms Used 24. Research Methodology
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November 2022
REP-GC-247
250 pages
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Automotive Engine Valve Market
