The global automotive VVT & start-stop system market is projected to grow at a CAGR of 5.7%, reaching USD 58.8 billion by 2027 from an estimated USD 42.3 billion in 2021. The key factors that drive the market for VVT & start-stop systems are the demand for improving fuel efficiency and performance, stringent emission norms, and the increasing hybridization of vehicles.
Rise in hybridization of vehicles
The primary source of vehicle propulsion is the ICE, which is powered by fuels such as gasoline, diesel, ethanol, and Compressed Natural Gas (CNG). The need for emissions reduction, air quality improvement, and energy security drives the demand for hybrid vehicles. This hybridization of vehicles impacts the powertrain and the power supply system, as well as the vehicle control systems. Hybrid vehicles have the setup required for VVT & start-stop systems. The setup includes a starter, alternator, battery, and electronic control unit (ECU). Moreover, Hybrid vehicles and CNG vehicles are among the most promising vehicle types for low emissions. Consistent growth in these segments would ensure consistent demand for fuel-efficient components/systems, such as VVT & start-stop systems. Thus, despite rapid growth in electric vehicles, the VVT & start-stop system market would continue to demonstrate steady growth on account of the growing demand for hybrid and other alternate fuel ICE vehicles. Hence, the growing demand for hybrid vehicles is expected to boost the production of VVT & start-stop systems.
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Increased inclusion of start-stop technology in vehicles
Engine start-stop helps to achieve fuel economy standards in conventional or hybrid-electric vehicles. The rise in hybrid vehicles production, government incentives for promoting the purchase of hybrid vehicles, and the increasing adoption of hybrid vehicles have boosted the demand for start-stop systems. OEMs are now focusing on adopting ultracapacitors for engine start-stop. For example, Continental Automotive Systems’ Maxwell Technologies delivered the voltage stabilization system (VSS) as a standard feature in 2016 Cadillac ATS, CTS sedans, and ATS coupes (excluding the ATS-V, CTS-V, and CT6 models). In 2015, General Motors became the first North American automotive OEM to integrate the Continental ultracapacitor-based VSS in car models with a start-stop function.
Asia Pacific is expected to be the largest market during the forecast period
Asia Pacific is the largest market for VVT & start-stop system systems because of the increasing automotive production in Japan, China, and India. The region has the largest share of VVT systems globally due to the increased manufacturing of vehicles equipped with VVT systems. India is growing at a very high pace due to increased preference for diesel-powered vehicles, which has resulted in the demand for VVT system for diesel engines in the country. In addition, improving socio-economic conditions in Asian countries such as India, Thailand, and Indonesia have resulted in the growth of premium segment passenger cars. This has accelerated the market for VVT & start-stop system in these countries. Many automotive manufacturers are focusing on the Asia Pacific region owing to various benefits such as easy availability of economic labor, access to advanced machines, lenient regulations for environment & safety, increased FDI for the automotive industry in countries like India, South Korea, and China, and the growing demand for vehicles.
Key Market Players
The global VVT & start-stop system market is dominated by key manufacturers such as Continental AG (Germany), DENSO Corporation (Japan), BorgWarner, Inc. (US), Robert Bosch GmbH (Germany), Aisin Seiki Co., Ltd. (Japan), and Hitachi, Ltd. (Japan). These companies develop new products, adopt expansion strategies, and undertake collaborations, partnerships, and mergers & acquisitions to gain traction in the automotive solenoid market.
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