Automotive Valves Market

Automotive valves are essential components of internal combustion engines. They play a crucial role in controlling the flow of air and fuel into the engine cylinders, as well as the exhaust gases out of them. Valves are responsible for maintaining the correct amount of fuel and air mixture in the engine, as well as the exhaust gases that are emitted from the engine. Automotive valves have evolved significantly over the years, becoming more complex and advanced to meet the needs of modern engines.

There are different types of automotive valves, including intake valves, exhaust valves, and control valves. Intake valves control the flow of air and fuel into the engine, while exhaust valves control the flow of exhaust gases out of the engine. Control valves are used to regulate other engine systems, such as the variable valve timing system.

The material used to make automotive valves is critical, as it affects the valve's durability and performance. Some of the commonly used materials include steel, stainless steel, and titanium. Steel valves are the most common, as they are durable and relatively inexpensive. Stainless steel valves are more expensive than steel valves, but they are more resistant to corrosion and heat. Titanium valves are the most expensive but are incredibly lightweight and strong, making them ideal for high-performance engines.

One of the latest developments in automotive valve technology is the use of electromagnetic valve actuation (EVA) systems. These systems use an electric actuator to control the valves, eliminating the need for a camshaft. This technology offers more precise control over valve timing, resulting in better engine efficiency and performance.

Another significant trend in the automotive valve industry is the move towards eco-friendlier engines. Manufacturers are developing engines that are more fuel-efficient and emit fewer harmful gases. Valves play a crucial role in achieving these goals, as they help regulate the fuel and air mixture and reduce exhaust emissions.

Market Dynamics of Automotive Valves Market

The automotive industry is experiencing a resurgence, and automotive valves are one of the critical components necessary for the proper functioning of vehicles. Valves are used to regulate the flow of gases, liquids, fluidized solids, or slurries and are essential in the operation of the engine. A typical gasoline engine cylinder requires four valves for inlet and exhaust function, and the number, size, shape, and material of valves may differ depending on the engine design. A standard car contains around 40-60 valves, which are irreplaceable.

As vehicle production levels increase, the demand for valves rises, resulting in significant growth in the valve market. The Indian and Chinese automobile markets are experiencing significant growth due to changing demographics and improving economies, with China producing 21.4 million passenger cars and 4.7 million commercial vehicles in 2021, and India recording a total vehicle production of approximately 22.7 million units.

Vehicle manufacturers are focusing on reducing emissions by producing technologically innovative and lightweight car components that meet new emission criteria. Valves are one such component used to regulate, direct, or control fluid flow. The automotive valves market has evolved from mechanical valves to advanced electro-mechanically controlled valve points, with a rise in the use of solenoid valves in electric vehicles, which enhances vehicle performance and is expected to drive significant growth in the market.

The automotive valves market has seen several recent developments, driven by various factors such as government regulations, technological advancements, and changing consumer preferences.

One recent development is the increased demand for solenoid valves due to the growing electrification of vehicles. These solenoid valves are used in various safety and security features like ABS and auto door locks, leading to higher demand for electric function valves.

Another significant development is the adoption of advanced technologies like exhaust gas recovery (EGR) and variable valve timing (VVT), which have resulted in the introduction of new and improved automotive valves. These advanced technologies help to reduce emissions and improve fuel efficiency, leading to greater demand for automotive valves that can support these features.

Government regulations aimed at reducing emissions and improving fuel efficiency have also played a vital role in the development of the automotive valves market. For example, the Euro 6 emissions standard in Europe has led to increased demand for automotive valves that can meet these standards.

In addition to these developments, there has been a trend towards lightweight materials like aluminum and titanium, which has resulted in the development of lightweight valves that can reduce vehicle weight and improve fuel efficiency.

Overall, the automotive valves market is experiencing significant growth due to these recent developments, with increasing demand for solenoid valves, advanced technologies, and lightweight materials driving the market forward.

As the trend towards lightweight vehicles to increase fuel efficiency continues to grow, the demand for lightweight components such as valves also increases. However, developed nations' emission legislation is expected to have a significant impact on market growth during the forecast period. Overall, the automotive valve market is poised for growth as the automotive industry continues to evolve and improve.

The demand for solenoid valves has been on the rise due to their various applications in modern cars, which enhance their performance and efficiency. These applications include functions such as door locks and trunk release, starter solenoid, automatic and dual-clutch transmission control, turbocharger control, variable valve timing, EGR control, evaporative emission control (EVAP) system, fuel ignition coils, engine fuel shut-off valve, ABS, air suspension system, and HVAC system. In addition, the increasing preference of consumers for new and improved transmission systems, such as AMT, DCT, and CVT, has contributed to the growing demand for solenoids. These transmission systems allow real-time control of torque with each gearshift, reducing friction losses and quickly synchronizing the torque required for the new gear. This enhances the driving experience while improving the fuel efficiency of vehicles and reducing the scope for human error as most of the work while shifting gears is controlled by sensors, solenoids, and computers.

The solenoid valve market is being driven by factors such as the increase in vehicle production, government regulations aimed at developing new automotive valves, and the introduction of advanced technologies like exhaust recirculation control valves, which can significantly improve the performance of vehicles. However, the high cost and fluctuating prices of cylinders and the increasing electrification of vehicles are expected to impede the growth of the market. Despite these challenges, the surge in passenger car production and the growing demand for solenoid valves present an opportunity for market investments.

In recent years, the automotive industry has faced a significant challenge due to the rise in the cost of raw materials. One of the key raw materials, pig iron and steel, has seen a considerable increase in its price, rising by 35-40% year on year in April-December 2021-22. This surge in costs has negatively impacted the automotive valves market, hindering its growth.

Steel is a vital component of car manufacturing, making up approximately 39% of the average car, while aluminum comprises 11%. The escalation in raw material costs has been primarily focused on high steel prices. In fact, a recent Bank of America analysis revealed that the average cost per pound of steel used in automobile manufacturing has increased by 106% year over year, which is a matter of concern for the industry.

The impact of the rising costs of raw materials is expected to affect both suppliers and original equipment manufacturers (OEMs). The latter may incur even more indirect expenses due to the former. With the ongoing inflation costs and pre-existing supply chain disruptions caused by the pandemic, both groups face significant challenges. The automotive value chain, in addition to the increasing raw material costs, is already grappling with major headwinds from supply chain disruptions and manufacturing stoppages.

Valves play a critical role in the efficient functioning of a wide range of systems, but technical problems associated with valves can impact their performance. These problems include issues such as part closure, valves not opening or closing correctly, erratic sounds, and coil problems in solenoid valves. Part closure of valves can occur due to various factors, including manual override, pressure difference, residual coil power, damaged armature tube, and damaged valve seats. Similarly, solenoid valves may not open due to power failure, wrong voltage, dirt accumulation under the diaphragm, or uneven pressure, among other factors.

Erratic sounds during valve opening and closing can also occur due to differences in inlet or outlet pressure inside the system, and the flow factor of the valve and compatibility with the media can also affect its operation. These technical challenges pose significant challenges for the automotive valves market.

New government regulations on low-carbon discharge have prompted manufacturers such as Mercedes, BMW, and others to focus on producing electric vehicles, resulting in a decrease in sales of internal combustion engine vehicles. While the electrification of vehicles is a necessary step to meet emission standards, it is likely to hinder the growth of the automotive valve market since electric vehicles require fewer valves than internal combustion engines. As a result, the electrification of automobiles is expected to have a negative impact on the growth of the automotive valve market.

As of 2021, the mechanical function segment holds the largest share in the global automotive valves market, followed by the electric function segment. It is expected that this ranking will remain the same, but the electric function segment will exhibit a higher compound annual growth rate (CAGR) than other functions due to the increased electrification of vehicles, which has resulted in a rise in the demand for solenoid valves for safety and security features like ABS and auto door lock. Since engine valves still dominate in volume, mechanical valves will exhibit a higher volume compared to electric valves.

In terms of vehicle type, the passenger car segment is projected to dominate the automotive valve market in both volume and value. This is because of the significant number of passenger cars sold worldwide compared to other vehicle types. Furthermore, the growing adoption of air conditioning and exhaust gas recovery (EGR) in passenger cars is expected to drive revenues for this segment. The light commercial vehicle segment is anticipated to grow at a faster rate than other vehicle types due to the rising demand for vans and pickups worldwide.

During the forecast period, the automotive valves market is dominated by the Asia-Pacific region in terms of revenue. The region's major presence of vehicle manufacturers and automotive component manufacturers is expected to drive significant growth in the market. In China, which has one of the largest automotive markets globally, the increase in vehicle production is leading to significant demand for valves. The rise in sales of electric vehicles in the country is also contributing to the demand for valves. The rapid expansion of small and medium-scale industries in India is expected to drive major growth in the market, as the demand for light commercial and heavy commercial vehicles is on the rise.

Europe is also witnessing significant growth in terms of revenue during the forecast period, following the Asia-Pacific. The region's major presence of vehicle manufacturers and tier-1 suppliers is anticipated to drive significant growth in the market. Several manufacturers in Europe have set benchmarks for emission standards, as set by the government.

Dominating Companies in Automotive Valves Market

• CONTINENTAL AG
• DENSO CORPORATION
• ROBERT BOSCH GMBH
• BORGWARNER INC.
• VALEO
• HITACHI
• AISIN CORPORATION
• CUMMINS INC.
• TENNECO INC.
• EATON CORPORATION PLC
• JOHNSON ELECTRIC HOLDINGS LIMITED
• STONERIDGE, INC.
• GKN GROUP
• MITSUBISHI ELECTRIC CORPORATION
• TLX TECHNOLOGIES
• ROTEX AUTOMATION
• GIDEON AUTOMOTIVE INDUSTRIES
• SOLENOID SYSTEMS
• KENDRION
• MZW MOTOR
• BICOLEX
• ZONHEN ELECTRIC APPLIANCES
• PADMINI VNA MECHATRONICS
• JAKSA
• EMERSON ELECTRIC
• MAHLE GMBH
• AISAN INDUSTRY CO., LTD

Recent Developments in Automotive Valves Market

BorgWarner acquired Delphi Technologies: In October 2020, BorgWarner completed its acquisition of Delphi Technologies, a leading global supplier of automotive technologies, including advanced fuel injection systems, engine valves, and electrification solutions.

Hitachi Automotive Systems and Keihin: In April 2021, Hitachi Automotive Systems and Keihin announced the establishment of a new company to develop and manufacture electric vehicle components, including power electronics and electric drive units, as well as engine management systems, fuel injection systems, and engine valves.

Mahle GmbH acquired Behr Hella Service: In December 2019, Mahle GmbH, a leading global supplier of automotive components, completed its acquisition of Behr Hella Service, a joint venture between Hella and Behr GmbH & Co. KG. Behr Hella Service specializes in air conditioning and engine cooling solutions, including engine valves.

Dana Inc. and Valeo: In November 2020, Dana Inc., a leading supplier of drivetrain and thermal management solutions, announced a strategic collaboration with Valeo, a global supplier of automotive technologies, to develop new electric and hybrid vehicle systems, including engine valves and other engine components.

Eaton Corporation and MTEK Kolin: In August 2021, Eaton Corporation announced the acquisition of MTEK Kolin, a Czech-based manufacturer of engine valves and other engine components. The acquisition expands Eaton's presence in the automotive valve market and strengthens its position in the global automotive industry.

BorgWarner Acquires AKASOL: In July 2021, BorgWarner announced that it would acquire AKASOL, a leading supplier of high-performance battery systems for commercial vehicles, including electric buses and trucks. The acquisition will help BorgWarner expand its portfolio of electrification solutions, which includes engine valves and other engine components.

Continental AG and NVIDIA: In June 2021, Continental AG, a leading supplier of automotive technologies, announced a strategic partnership with NVIDIA, a leading provider of artificial intelligence and computer graphics technologies. The partnership will focus on developing new software solutions for autonomous driving and other advanced vehicle technologies, including engine valves and other engine components.

Dana Inc. and Nordresa: In September 2020, Dana Inc. announced the acquisition of Nordresa, a Canadian-based manufacturer of electrified powertrain systems for commercial vehicles. The acquisition expands Dana's portfolio of electrification solutions, including engine valves and other engine components, and strengthens its position in the global electric vehicle market.

Bosch and Powercell Sweden: In January 2021, Bosch announced a strategic partnership with Powercell Sweden, a leading provider of fuel cell technologies. The partnership will focus on developing new fuel cell systems for commercial vehicles, including engine valves and other engine components.

DENSO and Infineon: In November 2020, DENSO Corporation, a leading supplier of automotive technologies, announced a partnership with Infineon Technologies AG, a leading provider of semiconductor solutions. The partnership will focus on developing new technologies for advanced driver assistance systems, including engine valves and other engine components.

These mergers, acquisitions, and partnerships highlight the ongoing evolution of the automotive valve industry and the increasing importance of advanced technologies and electrification in the automotive sector.

In conclusion, automotive valves are critical components of internal combustion engines. They play a crucial role in controlling the flow of air and fuel into the engine, as well as the exhaust gases out of it. Valves have evolved significantly over the years, becoming more complex and advanced to meet the needs of modern engines. With the development of new technologies and materials, the future of automotive valves looks bright. As the industry continues to move towards more eco-friendly engines, valves will play an essential role in achieving these goals.