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

Engine Valves Market size was valued at USD 5.89 billion in 2021 and is poised to grow from USD 6.2 billion in 2022 to USD 7.01 billion by 2030, growing at a CAGR of 2.3% in the forecast period (2023-2030).

Mahle Group, Knorr-Bremse AG, Hitachi Ltd., Federal-Mogul Holdings Corp., and Eaton Corporation Plc dominate the 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. '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', '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.'

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 growing popularity of SUVs along with increasing availability of low-cost, compact, and tiny SUVs is expected to boost the market growth.

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.