LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global automotive valves market to grow at a CAGR of more than 5% during the period 2018-2022, according to their latest report.
Advanced camless technology is identified as one of the key trends expected to impact the market. In a camless engine, the valvetrain is compressed into small cylindrical units in compact packaging, which contains actuators controlled electronically as per the valve timing. The engine actuator valves technology reduces the number of moving components that take up a share of the energy, which is produced by the engine. It can produce 47% higher torque and 46% higher power with same size engine units and is cheaper, lighter, and simpler in designing and manufacturing.
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In this report, Technavio analysts highlight the increasing penetration of advanced steel alloys for valves as a key factor contributing to the growth of the global automotive valves market:
Increasing penetration of advanced steel alloys for valves
The advancement of manufacturing technology has resulted in cost optimization, which drives the sales of advanced materials for engine valve. Performance optimization of the valve (because of the use of advanced materials) and increasing demand for high-performance vehicles indicate the increasing penetration of advanced steel alloys and nickel-based alloys in high-performance engines. However, their prices may not be the same as standard steel valves.
According to a senior analyst at Technavio for automotive components research, “The use of advanced steel alloy valves will increase the overall revenue of the global automotive valves market by affecting the average selling price of automotive valves. The optimized high-end feature implementation provides a competitive market advantage for the mass volume vehicle segment. Most OEMs provide optional performance enhancement packages for their standard mass-selling models to increase a vehicle's performance.”
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Global automotive valves market segmentation
This market research report segments the global automotive valves market by application (passenger vehicles and commercial vehicles) and key regions (the Americas, APAC, and EMEA).
Based on application, the global automotive valves market is dominated by the passenger cars segment accounting for close to 66% of the total market in 2017. The domination of this segment can be attributed to the high-volume sales of this segment.
APAC leads the global automotive market in terms of vehicles sales, volume, and production. It dominated the automotive valves market with close to 51% share in 2017. Entry-level mass segment vehicles experience high demand in China, India, Vietnam, Brazil, and Thailand. Steel alloy is used for low-power three-cylinder engines of vehicles in most of these countries. In EMEA, Europe has a limited number of downsized three-cylinder engines as of now. The regulatory emission norms suggest engine downsizing and alternative fuel research in all major developed nations of the region, which would decrease the market share of EMEA.
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