USD 5.89 billion
Engine Valves Market Size, Share, Growth Analysis, By Engine Valves Type(Monometallic, Bimetallic, Hollow), By Vehicle Type(Passenger Cars, Commercial Vehicles), By Function Type(Pneumatic, Hydraulic, Electric), By Sales Channel(OEM, Aftermarket), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2059 |
Region:
Global |
Published Date: April, 2024
Pages:
223
|Tables:
115
|Figures:
79
Engine Valves Market Insights
Global Engine Valves Market size was valued at USD 6.2 billion in 2022 and is poised to grow from USD 6.34 billion in 2023 to USD 7.62 billion by 2031, growing at a CAGR of 2.3% in the forecast period (2024-2031).
A valve, a vital component of a car's combustion engine, controls the flow of fuel and exhaust gases into each cylinder. Engine valves are crucial to the efficient operation of an automobile's engine because they control the flow of fuel and exhaust gases into and out of the cylinder. The timing of an engine valve determines the ideal air-to-fuel ratio for a certain vehicle. By doing so, emissions are reduced and the engine is helped to run as efficiently as possible. Vehicle production is increasing globally, which is ultimately increasing the demand for engine valves. The market for engine valves is expanding as a result of regulations controlling carbon emissions and consumer demand for high-performance engines. Also, due to manufacturers' demand for energy-saving technology, such as engine downsizing, the market is expected to develop throughout the anticipated period. Moreover, the global market is being also driven by expanding automotive output and rising disposable income in developed nations, which is causing a rise in demand for vehicles with high power engines.
US Engine Valves Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Bimetallic
Fastest Growth
Bimetallic
Growth Rate
2.3% CAGR
Global Engine Valves Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
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Engine Valves Market Segmental Analysis
Global Engine Valves Market is segmented based on Engine Valves Type, Vehicle Type, Function Type, Sales Channel and region. Based on Engine Valves Type the market is segmented into Monometallic, Bimetallic, and Hollow. Based on Vehicle Type the Engine Valves Market is segmented into Passenger Cars, Commercial Vehicles. Based on Function Type the Engine Valves Market is segmented into Pneumatic, Hydraulic, and Electric. Based on Sales Channel the market is segmented into OEM, Aftermarket. Based on region the global Engine Valves Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Engine Valves Market Analysis by Vehicle Type
During the projected period, the passenger car is expected to dominate the market for engine valves. Due to a combination of factors including a growing demand for personal transportation and an increase in per capita income, the passenger car segment has experienced the most growth.
Automakers are also emphasizing commercial vehicles in an effort to gain market share overall. The expansion of commercial vehicle production will depend heavily on emerging economies like China and India. Manufacturers of commercial vehicles are attempting to reduce the overall cost of their vehicles.
Global Engine Valves Market By Component, 2022 (%)
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Engine Valves Market Regional Insights
When it comes to revenue of market throughout the anticipated timeframe, the Asia-Pacific region is anticipated to dominate the market. The market is expected to increase considerably due to the significant presence of automakers and suppliers in the region. Due to the rise in vehicle production, China has one of the largest automotive marketplaces. As a result, valves are in high demand all throughout the country. There is a 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 commercial and large commercial vehicles nationwide.
The North American engine valves market is expected to experience significant growth due to the presence of established automotive industries and high demand for advanced engine technologies. The United States is the largest market in this region, accounting for a significant share of the market. The growth in the region is also attributed to the increasing demand for high-performance vehicles and strict emission regulations.
Global Engine Valves Market By Geography, 2022-2030
- Largest
- Fastest
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Engine Valves Market Dynamics
Engine Valves Market Drivers
- Car valves are among the indispensable parts which are significant for vehicle working and have no substitute. For instance, the inlet and exhaust functions of a gasoline engine cylinder require approximately four valves. For various engine designs, the number, size, shape, and material of the valves can vary, but they are all necessary for the engine's smooth operation. A typical automobile has between 40 and 60 valves, which cannot be replaced. The production of automobiles is directly related to the expansion of valves. Demand for valves rises in response to an increase in production. For instance, according to “Organisation Internationale des Constructeurs d’Automobiles” (OICA), China produced around 19 994 081 passenger vehicles in 2020, and increased its production and produced 21 407 962 passenger vehicles in 2021. Similarly, India produced around 2 836 534 passenger vehicles in 2020, and increased its production and produced 3 631 095 passenger vehicles in 2021. Thus, as per the data published by OICA, for year 2020 to 2021, the production of passenger vehicles in china was increased by 7% where as in India it was increased by 28%. Thus, increase in production of vehicles is ultimately increasing the demand for valves. Also, Due to shifting demographics and an improving economy as a whole, the automobile markets in India and China are experiencing higher growth rates than those in other nations.
- The market is also expanding due to rising demand for solenoid valves and electric vehicles. Solenoids are used in a number of modern automobile applications to boost efficiency and performance. Starter solenoid functions, automatic transmission control, dual-clutch transmission control, turbocharger control, variable valve timing, EGR control, evaporative emission control (EVAP) system, fuel ignition coils, and engine fuel shut off valve, ABS, air suspension system, and HVAC system are some of the main applications. Consumer preference for new, improved transmission systems like AMT, DCT, and CVT, which give the vehicle better control and acceleration, is expected to support the demand for solenoids. This is primarily due to transmission systems' ability to control torque in real time with each gearshift. When gears are changed, friction losses are reduced and quickly synchronized with the torque needed for the new gear. This makes it take longer for the torque to synchronize with the new gear. Since the majority of the work involved in shifting gears is controlled by sensors, solenoids, and computers, this has increased vehicle fuel efficiency and eliminated the possibility of human error.
Engine Valves Market Restraints
- The price of raw materials has gone up over the past year. For instance, between April and December of the year 2021 and 2022, the price of important raw materials like steel and pig iron increased by 35-40% year over year. The engine valves market is experiencing slowing growth as a result of rising raw material costs. The average automobile is 39% steel, while 11% aluminum. The high cost of steel has been the focus of the rise in the cost of raw materials; as per a Bank of America examination delivered last month, the typical expense per pound of steel utilized in car fabricate has risen 106% year over year. This is "quite concerning" in light of the average vehicle's high steel content, according to the analysis. Suppliers and original equipment manufacturers (OEMs) are expected to bear the brunt of rising material costs, with the latter absorbing even more of the indirect costs incurred by the former. The pandemic's damage to the supply chain and rising inflation costs present challenges for both groups. The automotive value chain already faces significant obstacles due to supply chain disruptions and manufacturing stoppages, in addition to rising costs of raw materials.
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Engine Valves Market Competitive Landscape
Mahle Group, Knorr-Bremse AG, Hitachi Ltd., Federal-Mogul Holdings Corp., and Eaton Corporation Plc dominate the global engine valves market. FTE automotive GmbH, Denso Corporation, FUJI OOZX Inc., and Delphi Automotive PLC, are some of the other major players engaged in the market. In order to meet the anticipated high demand for valves from both new electric vehicles and vehicles with conventional internal combustion engines, many businesses have chosen the merger and acquisition strategy. For instance, Eaton Corporation expanded its European business segments in April 2022 to include e-mobility and vehicle groups. In Karlsruhe, Germany, the company opened a new office and research facility. The existing engineering and manufacturing facilities in Montrottier, France, and Tczew, Poland, will be enhanced by this expansion.
Engine Valves Market Top Player’s Company Profiles
- Eaton Corporation plc
- Federal-Mogul LLC
- Mahle GmbH
- Hitachi Automotive Systems Americas Inc.
- BorgWarner Inc.
- Aisin Seiki Co. Ltd.
- Denso Corporation
- Valeo SA
- Cummins Inc.
- Knorr-Bremse AG
- Schaeffler AG
- Tenneco Inc.
- Continental AG
- KSPG AG
- Woodward Inc.
- FUJI OOZX Inc.
- India Pistons Limited
- Rane Engine Valve Limited
- TRW Automotive Inc.
- Ferrea Racing Components
Engine Valves Market Recent Developments
- In April 2022, Eaton Corporation increased its focus on vehicle groups and e-mobility in Europe. The company opened a brand-new office and research facility in Karlsruhe, Germany. The existing engineering and production facilities will be supported by the expansions in Montrottier, France, and Tczew, Poland.
- In February 2022, By adding over 80 new part numbers to the product portfolio, Borgwarner introduced a new line of exhaust gas recirculation valves in February 2022. These brand-new EGR valves contribute to cleaner and more energy-efficient mobility by lowering emissions from the majority of engine types.
Engine Valves Key Market Trends
- The growing popularity of SUVs along with increasing availability of low-cost, compact, and tiny SUVs is expected to boost the market growth.
- The demand for air conditioning and solenoid valves, which are used to improve vehicle performance and comfort, is likely to rise as vehicle manufacturers move toward producing electric vehicles. The market is likely to expand significantly as a result of this.
Engine Valves Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to global Engine Valves market our analysis, the market is expected to witness significant growth due to the increasing demand for vehicles, growing consumer trend toward electric vehicles, and the Growing vehicle manufacturers' trends toward manufacturing electric vehicles. The market is highly competitive, with key players focusing on product innovation, strategic partnerships, and collaborations to expand their market presence.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 5.89 billion |
| Market size value in 2031 | USD 7.01 billion |
| Growth Rate | 2.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Engine Valves Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Engine Valves Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Engine Valves Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Engine Valves Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Engine Valves Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Engine Valves Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Engine Valves Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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