(EMAILWIRE.COM, August 15, 2019 ) The Global Automotive Valves Market is projected to grow at a CAGR of 4.1% from 2017 to 2022, to reach a market size of USD 32.51 Billion by 2022.

The major factors driving the growth of the automotive valves market are the increasing production levels of vehicles, electrification of vehicles, installation of HVAC systems in commercial vehicles, and stringent emission norms introduced by the government to improve fuel economy.

The report profiles all major players in the automotive valves market, including Continental AG (Germany), Hitachi Ltd. (Japan), Denso Corporation (Japan), and BorgWarner (U.S) among others.

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Solenoid valve – Expected to grow at the highest CAGR

Automotive solenoid valves are conventional components which are used in most of the standard vehicles in applications such as door locks, steering locks, starter motors, fuel valve control, and anti-lock braking system (ABS) to name a few. The solenoid valve market is expected to grow at a higher CAGR as compared to other valves, both in terms of value and volume. Also, the solenoid valve is gaining preference over other valves as it is fast in operation and suitable for electronic functions such as door lock and ABS. The market is expected to witness a gradual shift from conventional mechanical actuators to electromagnetic actuators such as wastegate and VGT. The automotive solenoids are expected to enhance the products’ properties, and their application in automotive would result in a better quality of engines, low emission, increased automation, and safety and security application. These factors are expected to fuel the demand for the solenoid valve in the global automotive valves market during the forecast period.

Hybrid Electric Vehicle – A promising segment for component manufacturers

Hybrid Electric Vehicle (HEV) accounts for the largest share of the automotive valves market among the electric vehicle types (BEV, HEV, and PHEV). It is estimated to continue its dominance in the automotive valves market during the forecast period. Also, in terms of growth, PHEV is projected to grow at the highest CAGR followed by BEV and PHEV, respectively. Increasing government support for green vehicles is propelling the demand for electric vehicles, which in turn is increasing the demand for automotive components such as actuators and valves.

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Asia-Pacific: Largest market for automotive valves

Asia-Pacific is estimated to hold the largest share, by value and volume, of the automotive valves market in 2017. Also, in terms of growth, Asia-Pacific is projected to grow at a higher CAGR as compared to other regions. Developing economies such as China and India are expected to play a major role due to increasing vehicle production. Also, increasing the installation of upgraded technology features such as ABS, automatic transmission, and start-stop systems is likely to add to the demand for supporting valves.

Target Audience:

*Automobile manufacturers
*Automotive valves manufacturers
*Automotive component manufacturers
*Automobile organizations/associations
*Automotive valves component suppliers
*Raw material suppliers for valve systems
*Traders and distributors of automotive valves
*Tier 1, Tier 2, and Tier 3 suppliers
*Distributors and suppliers of automotive components/parts