The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Exploring the Thriving Automotive Valves Market

The automotive valves market has experienced robust growth in recent years, showcasing a promising trajectory. From $30.35 billion in 2023, it is projected to reach $31.9 billion in 2024, with a compound annual growth rate (CAGR) of 5.1%. This expansion owes much to various factors, including rising global vehicle production, stringent emission standards, climate change awareness, growing adoption of electric vehicles, and the demand for fuel-efficient vehicles.

Anticipated Growth and Trends in the Automotive Valves Market

Looking ahead, the automotive valves market is poised for even stronger growth, with estimates indicating a climb to $38.97 billion by 2028, maintaining a CAGR of 5.1%. This surge is expected due to several factors, such as the transition to electric and hybrid vehicles, advancements in autonomous vehicles, focus on lightweighting and material innovations, integration of smart valve technologies, and global sustainability initiatives. Major trends in this forecast period include a focus on lightweighting and material innovations, integration of smart valve technologies, global sustainability initiatives, and the impact of digitalization and Industry 4.0.

Growing Adoption Of Hybrid Electric Vehicles (HEVs)

The increasing adoption of hybrid electric vehicles (HEVs) is a significant driver propelling the growth of the automotive valves market. HEVs combine internal combustion engine (ICE) propulsion systems with electric propulsion systems, utilizing automotive valves from both ICE and battery electric vehicles (BEVs). These valves, including HVAC valves, solenoid valves, brake combination valves, and tire valves, play crucial roles in supporting HEV functionality. The surge in HEV adoption is evident, with statistics showing a substantial rise in hybrid vehicle sales, particularly in markets like the United States.

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Emerson Introduces Cutting-Edge Valve Assemblies, Redefining Safety And Efficiency Standards

Product innovation emerges as a key trend in the automotive valves market, with major players focusing on enhancing their offerings. In October 2021, Emerson, a US-based machinery manufacturer, unveiled comprehensive valve assemblies designed to elevate safety and efficiency standards. These innovative features promise to enhance critical performance specifications in safety instrumented systems, aligning with SIL 3 standards as per the IEC 61508 standard of the International Electrotechnical Commission.

Kitz Corporation Completed Acquisition Of Toa Valve Engineering Inc

September 2021 witnessed Kitz Corporation, a Japan-based valve manufacturer, completing the acquisition of TOA Valve Engineering Inc. This strategic move aims to bolster corporate value and expand business opportunities by leveraging synergies, technologies, and strengths in the valve sector. TOA Valve Engineering Inc., a Japan-based industrial valve manufacturer, brings complementary expertise to the table, enriching Kitz Corporation’s portfolio.

Segmentation of the Automotive Valves Market

Understanding the diverse landscape of the automotive valves market is pivotal for stakeholders. The market is segmented based on product type, propulsion and component, vehicle type, and application. This segmentation allows for a nuanced analysis of market dynamics and facilitates targeted strategies for growth and expansion. Notably, Asia-Pacific emerges as the largest region in terms of automotive valves market share, highlighting the region’s pivotal role in driving industry trends and developments.

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The Automotive Valves Global Market Report 2024  provides an overview of the automotive valves market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automotive valves market forecast analyzes automotive valves market size, automotive valves market share, leading competitor and their market positions.

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