The Automotive Valves Global Market Report 2023, provides comprehensive information on the automotive valves market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global automotive valves market size is expected to grow from $28.64 billion in 2022 to $30.02 billion in 2023 at a compound annual growth rate (CAGR) of 4.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global automotive valves market is expected to grow to $35.69 billion in 2027 at a CAGR of 4.4%.
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Product innovations are a key trend gaining popularity in the automotive valve market. Major players in the automotive valves sector are focused on product innovations to sustain their marketplace. For an instance, in October 2021, Emerson, a US-based machinery manufacturer, launched the first comprehensive valve assemblies. These Innovative features can improve critical performance specifications in safety instrumented systems by up to 50%. This valve will fulfill safety integrity level (SIL) 3 as per the IEC 61508 standard of the International Electrotechnical Commission. Without this system, consumers will have to define every single valve component, buy each one separately, then put them all together to make a functional whole. This form of custom assembly will not offer all the advantages of the Digital Isolation assembly, even if the procedures are followed exactly.
The automotive valves market is segmented:
1) By Product Type: Engine Valves, Air-Conditioner Valves, Brake Valves, Thermostat Valves, Fuel System Valves, Solenoid Valves, Exhaust Gas Recirculation Valves, Tire Valves, AT Control Valves
2) By Propulsion and Component: Internal Combustion Engine (ICE), Electric Vehicle
3) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Buses, Truck
4) By Application: Engine System, HVAC System, Brake System, Other Applications
Asia-Pacific was the largest region in the automotive valves market in 2022.
The table of contents in TBRC’s automotive valves market report includes:
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