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The Business Research Company's Automotive Valves Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, October 8, 2024 /EINPresswire / -- The automotive valves market has experienced robust growth in recent years, expanding from $30.35 billion in 2023 to $31.9 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to rising global vehicle production, stringent emission standards, climate change awareness, growing adoption of electric vehicles, demand for fuel-efficient vehicles.
What Is The Estimated Market Size Of The Global Automotive Valves Market And Its Annual Growth Rate?
The automotive valves market is projected to continue its strong growth, reaching $38.97 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to transition to electric and hybrid vehicles, advancements in autonomous vehicles, focus on lightweighting and material innovations, integration of smart valve technologies, global sustainability initiatives.
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Growth Driver Of The Automotive Valves Market
The growing adoption of hybrid electric vehicles (HEVs) is expected to propel the growth of the automotive valves market going forward. A hybrid electric vehicle (HEV) is a vehicle that combines an internal combustion engine (ICE) propulsion system with an electric propulsion system. Automotive valves from both internal combustion engine (ICE) and battery electric vehicles (BEV) vehicles are used in HEVs. which include HVAC valves, solenoid valves, brake combination valves, and tire valves. The automotive valves support HEV with their smooth functioning.
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Which Market Players Are Steering The Automotive Valves Market Growth?
Key players in the market include Catalent Inc., Eurocaps Ltd., Capsugel Healthcare Ltd., Aenova Group GmbH, Sirio Pharma Co. Ltd., Procaps Laboratories Inc., Captek Softgel International Inc., Fuji Capsule Co. Ltd., Hunan ER-KANG Pharmaceutical Co. Ltd., Patheon NV, Curtis Health Caps SA, Delpharm Holding SAS, Estrellas Life Sciences Pvt. Ltd., Elnova Pharma LLP, Soft Gel Technologies Inc., Weihai Baihe Biology Technological Co. Ltd., United Laboratories, Robinson Pharma Inc., Thermo Fisher Scientific Inc., Best Formulations Inc., DCC plc, Biophar Lifesciences Pvt. Ltd., Swisschem Healthcare, Krishlar Pharmaceuticals, Amzor Healthcare Pvt. Ltd., Medgel Pvt. Ltd., Amway Corp., Welex Laboratories Pvt. Ltd., NutraScience Labs Inc., Nutrifynn Caps Inc., NutraPak USA, Nutrafill LLC, Nutricap Labs LLC, Nutra Manufacturing Inc., Ion Labs Inc., Vitakem Nutraceutical Inc., Private Label Nutraceuticals LLC, NutraLab Canada Ltd., Makers Nutrition LLC.
What Are The Key Trends That Influence Automotive Valves Market Share And Analysis?
Major companies operating in the market are focused on developing technologically advanced products such as EGR valves to gain a competitive advantage in the market. The new EGR valves are designed to reduce emissions for most engine types, thereby supporting cleaner and more energy-efficient mobility.
How Is The Global Automotive Valves Market Segmented?
1) By Product Type: Engine Valves, Air-Conditioner Valves, Brake Valves, Thermostat Valves, Fuel System Valves, Solenoid Valves, Exhaust Gas Recirculation Valves, Tire Valves, AT Control Valves
2) By Propulsion and Component: Internal Combustion Engine (ICE), Electric Vehicle
3) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Buses, Truck
4) By Application: Engine System, HVAC System, Brake System, Other Applications
Geographical Insights: Asia-Pacific Leading The Automotive Valves Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Automotive Valves Market Definition
Automotive valves refer to the mechanical components manufactured by automotive valve manufacturers that are used in internal combustion engines to allow or restrict the flow of gas or fluid back and forth between the cylinders or combustion compartments while the engine is running. An automobile valve works in a similar way that other valves do. The performance of several systems such as engine valves and ignition systems directly depend on the automotive valves.
Automotive Valves Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global automotive valves market report covering trends, opportunities, strategies, and more
The Automotive Valves Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive valves market size, automotive valves market drivers and trends, automotive valves market major players and automotive valves market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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