The global automotive valves market is expected to grow at a CAGR of 2.3% from 2022 to 2027, reaching a market size of USD 28.2 billion by 2027. The growth of the automotive valves market is driven by several factors, including increased vehicle sales, the demand for HVAC systems, stricter emission regulations, and the growing adoption of electric vehicles.
Among the different types of automotive valves, solenoid valves are projected to grow at the highest CAGR during the forecast period. Solenoid valves have a wide range of applications and offer fast response times. They are used in various components such as door locks, steering locks, starter motors, fuel valve control, and anti-lock braking systems (ABS). As vehicles become more electrified and advanced, there is a shift from conventional mechanical actuators to electromagnetic actuators like solenoid valves. This trend, along with the increasing use of high-end features in vehicles, is expected to drive the demand for automotive valves.
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Hybrid Electric Vehicles (HEVs) are expected to hold the largest share in the automotive valves market and present promising opportunities for component manufacturers. HEVs use automotive valves in both Internal Combustion Engine (ICE) vehicles and Battery Electric Vehicles (BEVs). These valves include HVAC valves, solenoid valves, brake combination valves, and tire valves. HEVs incorporate advanced technologies such as regenerative brakes, electric motor drives, and automatic start/stop systems. The rise of HEVs is particularly prominent in the Asia Pacific region, driven by stringent emission standards and government incentives. The increasing sales of HEVs in the region will contribute to the growth of the automotive valves market.
The Asia Pacific region is expected to be the largest market for automotive valves during the forecast period. This is due to the presence of rapidly developing economies like China and India, which are home to major OEMs and have implemented initiatives to attract electric vehicle manufacturing. China is anticipated to be the largest market for automotive valves in the Asia Pacific, while India is expected to experience the fastest growth. The demand for passenger vehicles and light commercial vehicles, as well as heavy trucks in India, will drive the market growth. Japan is also a significant market in the region, followed by South Korea.
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Major players in the automotive valves market include Continental AG, Robert Bosch, Denso Corporation, and BorgWarner, among others. These companies are profiled in the report and play a crucial role in driving innovation and providing solutions in the automotive valves market.
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