Buy Now
$4,123 $4,850
15% off
$4,840 $6,050
20% off
$5,845 $8,350
30% off
Buy now
Premium Report Details
Base Year: 2023
Companies covered: 15
Tables & Figures: 232
Countries covered: 24
Pages: 161
Download Free PDF
Engine Valve Market
Get a free sample of this report
Get a free sample of this report Engine Valve Market
Is your requirement urgent? Please give us your business email for a speedy delivery!
Engine Valve Market Size
The global engine valve market was valued at USD 6.3 million in 2023 and is anticipated to register a CAGR of over 2.8% between 2024 and 2032.
Increased production of automobiles has led to a phenomenal increase in the engine valve industry across all areas. According to the International Organization of Motor Vehicle Manufacturers (OICA), the production of automobiles in the world came to more than 92 million units in 2023. The general improvement of economies and the increase in the purchasing power of citizens are fostering an increase in the sales of cars. At the same time, urban centers are creating additional demand for both personal cars and commercial vehicles. The development of technology, especially regarding electric cars, is smartly driving the growth in the market. In 2023, the International Energy Agency (IEA) reported that the sale of electric vehicles crossed the 10 million units mark. To boost production efficiency and reduce cost, manufacturers are implementing automated systems and lean enterprise.
The production process of automobile valves presents daunting environmental concerns which are characterized by a high consumption of energy and a considerable amount of wastes. Often, the operation is dependent on materials and chemicals detrimental to the environment. In order to properly address these issues, there is a need to switch to energy saving manufacturing processes, recycling of materials, and reduction of waste production.
Engine Valve Market Trends
Significant progress has been made over the past few years with respect to the Global engine valve industry. The growth of the market is driven by stringent emission controls. These policies make it necessary to have advanced valve technologies in order to enhance fuel economy while lowering emissions, thus increasing the need for high-performance valves. Meeting the requirements of imposing low-friction valve technologies and lightweight materials, companies such as Federal-Mogul and Eaton have sought to optimize engine performance and compliance, nurturing invention and increasing output. Furthermore, the increase of electric and hybrid vehicles is driving creativity in valve designs. The greater technological needs of these vehicles, for example valves required for cooling and lubrication, are sparking new creativity in design and materials. This, in turn, is fueling the growth of the market.
Engine Valve Market Analysis
Based on valve type, the market is divided into hollow, monometallic and Bimetallic. In 2023 the hollow valve type is dominating segment accounted for a revenue of USD 2.9 million and is expected to reach at 3.6 million in 2032. The market for engine valves is dominated by hollow valves because of their numerous benefits. While this type of valve is lighter than solid ones, which contributes to making the engine more fuel efficient, it also enhances the engine’s performance capabilities. Also, the light weight of hollow valves means that quicker and precise valve movement is possible, which is important when the engine is needed to perform better and respond faster at higher RPMs, as is the case with high performance and racing engines. Hollow valves also have superior thermal performance that helps in keeping the temperature within limits, therefore increasing the life of the valves and the engine. With these advantages combined, it is easy to understand why hollow valves are preferred above solid valves, aiding in dominating the market.
Based on Engine type, the engine valve market is categorized into ICE and electric. In 2023 the ICE engine accounted a market share of 73% and is anticipated to grow at a CAGR of 2.6%. The Internal Combustion Engine (ICE) still holds supremacy owing to its servicing internal frame structures which comprise fuel providing units, repair facilities, and manufacturing plants. Their framework guarantees convenience and trust for all ICE vehicle owners. The U.S. Department of Energy claims that there are 150000 fueling stations available across the country which allows everyone to use the ICE powered vehicles. Also, ICE powered vehicles are more economically feasible than EVs and other alternative propulsion systems because of their mass production systems.
In addition, the availability of liquid fuels like gasoline and diesel which are affordable and have considerable energy density enabling longer driving ranges in a short period of time further. International Energy Agency claims that gasoline and diesel are the primary energy sources for transport vehicles making more than 90% worth of the global transportation energy consumption. All these facts make ICE vehicles more desirable by almost every consumer thus ensuring their undying competitive lead in the valve market for engines.
In the engine valve market Asia- pacific dominated the market generating a revenue of USD 2.19 million and is expected to reach at USD 3.09 million by 2032. The areas in question detail the car industry growth in China, India, Japan, and South Korea and the increasing activity in the automotive sector. The demand for passenger and commercial vehicles in these countries is simply growing at an accelerating pace. CAAM reported over 26 million vehicles were produced in China in 2023, which is a 5 percent increase over the previous year. SIAM claimed 5 million vehicles were produced in India’s automobile industry in 2023, which is a 7 percent increase. These countries’ industrialization and urbanization is occurring at an extraordinary pace and so their requirements for modes of transport are increasing.
In addition, the growth is further supported by the existence ofs people and social infrastructure in these regions due to the major global automotive manufacturers and suppliers bringing good economic conditions to the area. The same can be said for expansion of advanced automotive technology focused on making the engines more environmentally friendly and efficient; sophisticated engine valves are going to be needed. The establishment of governmental programs, such as manufacturing grants or tax exemptions and infrastructure funding, are helping maximize the growth of the market in the Asia Pacific region, as well.
Europe: UK engine valve market was estimated to be at a value of 27.27% of the total market in 2023 and is expected to grow at a percentage rate of 2.7% during the predicted period. Europe, which has the highest compliance standards to environmental friendly regulations especially in automobile emission control, is increasing the supply of modernized and efficient vehicles engines. The European Environment Agency (EEA) states that these emission control laws have been very effective in reducing emissions in the last decades. This has, in turn, increased the supply of advanced engine valves which are able to comply the tight design requirements.
Asia pacific: China’s share of the total market in 2023 ein 36.3% is estimated to grow at the rate of 3.5% during the forecast period. China is a key global manufacturing center and has existing infrastructure for the automotive parts industry. With many diverse manufacturers and sources in the country, there is a very high production of engine valves. Advanced manufacturing techniques combined with production efficiency place China as a leader in the global engine valve industry, providing a wide available supply for domestic and international markets.
Engine Valve Market Share
Dominant market players, including Eaton Corporation, Continental AG, Federal-Mogul, Denso, Mahle Gmbh, and Bosch, amounted to roughly 10%-15% of the market. Both Continental AG, and Eaton Corporation are as expected actively participating in development activities for business expansion, the most important of which are mergers and acquisitions, Greenfield Projects, and Joint Ventures inorder to gain wider market reach. This constant investment enables these companies to develop advanced technologies and improve thier engine valves
Engine Valve Market Companies
Major players operating in the global engine valve industry include:
Engine Valve Industry News
The engine valve market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) and volume (Million Units) from 2021 to 2032, for the following segments:
Click here to Buy Section of this Report
Market, By Valve Type
Market, By Purpose
Market, By Engine Type
Market, By Technology
Market, By Material
Market, By Application
Market, By Distribution Channel
The above information is provided for the following regions and countries: