Automotive Valves Global Market Report 2024

The global automotive valves market has grown strongly in recent years. It will grow from $30.35 billion in 2023 to $31.9 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The expansion observed during the historical period can be attributed to several factors, including the increase in global vehicle production, the implementation of stringent emission standards, a heightened awareness of climate change, the growing adoption of electric vehicles, and an increasing demand for fuel-efficient vehicles.

The global automotive valves market is expected to see strong growth in the next few years. It will grow to $38.97 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. Anticipated growth in the forecast period can be attributed to the shift towards electric and hybrid vehicles, progress in autonomous vehicle technologies, a strategic emphasis on lightweighting and innovative materials, the incorporation of smart valve technologies, and the alignment with global sustainability initiatives. Key trends expected in the forecast period encompass a heightened focus on lightweighting and materials innovation, the integration of smart valve technologies, a commitment to global sustainability initiatives, and the transformative impact of digitalization and Industry 4.0 on the automotive sector.

The automotive valves market is anticipated to experience significant growth driven by the increasing adoption of hybrid electric vehicles (HEVs). HEVs combine internal combustion engine (ICE) propulsion with an electric propulsion system, utilizing automotive valves from both ICE and battery electric vehicles (BEVs). These valves, including HVAC, solenoid, brake combination, and tire valves, contribute to the seamless operation of HEVs. For instance, in 2021, the US witnessed a substantial surge in hybrid vehicle sales, marking a 76 percent increase to 801,550 vehicles, while the sale of hybrid electric vehicles in December 2020 reached 5.8 million units, as reported by Gadgets 360, an Indian-based media brand. Consequently, the escalating adoption of HEVs is a pivotal driver behind the growth of the automotive valves market.

The automotive valves market is poised for growth due to increased automobile production, signaling expansion within the automotive industry. Elevated vehicle manufacturing correlates with heightened demand for crucial components like automotive valves, integral for ensuring proper vehicle functionality. For example, according to the European Automobile Manufacturers Association, global motor vehicle production in 2021 reached 79.1 million units, reflecting a 1.3% increase from 2020. Additionally, the Indian automobile industry produced a total of 22.93 million vehicles encompassing passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles from April 2021 to March 2022, according to Invest India, a national investment facilitation agency. Therefore, increased automobile production significantly impacts the growth trajectory of the automotive valves market.

A notable trend in the automotive valve market is the focus on product innovations by major industry players to maintain their competitive edge. Companies within the automotive valves sector are concentrating on innovative product development to fortify their market position. For instance, in October 2021, Emerson, a US-based machinery manufacturer, introduced comprehensive valve assemblies equipped with innovative features that enhance critical performance specifications in safety instrumented systems by up to 50%. These valves meet safety integrity level (SIL) 3 as per the IEC 61508 standard of the International Electrotechnical Commission. Offering a complete solution, these Digital Isolation assemblies alleviate the need for consumers to define and purchase individual valve components separately, ensuring functional and advantageous integration compared to custom assemblies.

Key players within the automotive valves market are concentrating on developing cutting-edge products like Exhaust Gas Recirculation (EGR) valves, aiming to secure a competitive edge. These new EGR valves are engineered to curtail emissions across various engine types, fostering cleaner and more energy-efficient mobility solutions. For instance, in February 2022, BorgWarner, a US-based provider of innovative mobility solutions, expanded its product range by introducing over 80 new EGR valves. This extensive addition aligns with BorgWarner's commitment to fulfilling the market's demand for cleaner and more energy-efficient mobility solutions. Complying with stringent OE quality standards, these valves are accessible to aftermarket customers globally and encompass approximately 50% of vehicles within the EU.

In September 2021, Kitz Corporation, a Japan-based valve manufacturer, successfully acquired TOA Valve Engineering Inc. for an undisclosed sum. This strategic acquisition aims to enhance the corporate value of both entities by fostering mutual sharing of strategies, technologies, and strengths pertaining to valve manufacturing. TOA Valve Engineering Inc., another Japan-based industrial valve manufacturer, joins forces with Kitz Corporation to drive further business expansion and reinforce their market positions through collaborative efforts.

Major companies operating in the automotive valves market report are Catalent Inc., Eurocaps Ltd., Capsugel Healthcare Ltd., Aenova Group GmbH, Sirio Pharma Co. Ltd., Procaps Laboratories Inc., Captek Softgel International Inc., Fuji Capsule Co. Ltd., Hunan ER-KANG Pharmaceutical Co. Ltd., Patheon NV, Curtis Health Caps SA, Delpharm Holding SAS, Estrellas Life Sciences Pvt. Ltd., Elnova Pharma LLP, Soft Gel Technologies Inc., Weihai Baihe Biology Technological Co. Ltd., United Laboratories, Robinson Pharma Inc., Thermo Fisher Scientific Inc., Best Formulations Inc., DCC PLC, Biophar Lifesciences Pvt. Ltd., Swisschem Healthcare, Krishlar Pharmaceuticals, Amzor Healthcare Pvt. Ltd., Medgel Pvt. Ltd., Amway Corp., Welex Laboratories Pvt. Ltd., NutraScience Labs Inc., Nutrifynn Caps Inc., NutraPak USA, Nutrafill LLC, Nutricap Labs LLC, Nutra Manufacturing Inc., Ion Labs Inc., Vitakem Nutraceutical Inc., Private Label Nutraceuticals LLC, NutraLab Canada Ltd., Makers Nutrition LLC

Asia-Pacific was the largest region in the automotive valves market share in 2023. The regions covered in the automotive valves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automotive valves market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Key product types within the realm of automotive valves include engine valves, air-conditioner valves, brake valves, thermostat valves, fuel system valves, solenoid valves, exhaust gas recirculation valves, tire valves, and AT control valves. Engine valves, as an example, are mechanical devices crucial for controlling the inflow and outflow of gas or liquid within the cylinders or combustion chambers of internal combustion engines during operation. These valves play a pivotal role in various vehicle types, such as passenger cars, light commercial vehicles, buses, and trucks, powering both internal combustion engines (ICE) and electric vehicles. Applications of automotive valves span across engine systems, HVAC systems, brake systems, and other critical automotive functionalities.

This report provides automotive valves market statistics, including automotive valves industry global market size, regional shares, competitors with automotive valves market share, detailed automotive valves market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive valves industry. This automotive valve market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The automotive valves market consists of sales of poppet valve, sleeve valve, rotary valve and reed valves. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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