The global automotive VVT system market value is expected to reach around US$ 76,545 million by 2026 with a CAGR of above 4% over the forecast period 2019-2026.
LOS ANGELES, Oct. 28, 2019 (GLOBE NEWSWIRE) -- Acumen Research and Consulting, Recently Published Report On “Automotive VVT System Market By Product Type (Continuous VVT, Non-continuous VVT), By Application (Passenger Vehicle, Light commercial vehicle, Heavy commercial vehicle) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”.
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The old conventional engines in which the valves remained opened were optimized specifically for single speed engine. As the speed of engine increases the time required to fill the cylinder is reduced further resulting in the less amount of charge to engine that causes low power. Variable valve timing is a mechanical system that allows the engine to have multiple camshafts. With the help of VVT system alteration in the engine timing is possible this is done to match the engine speed and boost the torque. The VVT uses the flexible hydraulic connections between the crankshaft and its sprockets which are operated by engine oil pressure and solenoid-operated oil control valve which is further controlled by engine ECU.
Major factors expected to drive the growth of the global automotive VVT system market are developing automotive regulatory standards, stringent government policies related to fuel emission and approach towards increasing the power of engine with high fuel efficiency. In addition, increasing automotive passenger vehicles sale in developed and developing countries, manufacturers approach towards increase the over-all performance of the vehicle is resulting in increasing adoption of VVT system this is another factors expected to boost the growth of the target market.
However, inclination towards adoption of electric vehicles is a major factors expected to hamper the growth of the target market. In addition, high maintenance cost and difficulty is manufacturing complex VVT systems are among other factors expected to challenge the growth of the target market.
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Rising passenger vehicle sale in developing countries and integration in start-stop vehicles is expected to create new opportunities in term of revenue for players operating in the target market over the forecast period. In addition, business expansion through strategic activities is expected to further revenue support the target market growth.
The global automotive VVT system market is segmented into material type, and region. The regional market is further bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East. The market in Europe is expected to account for major revenue share this can be attributed to increasing demand of passenger vehicles with improved fuel efficiency and maximum power. High emission of carbon dioxide and methane from IC engines is a major factor contributing to air pollution. This rising pollution is resulting in introduction of various stringent rules and regulation from regulatory bodies in order to control the vehicle emission. Stringent government regulations related to fuel emission control is another factor expected to boost the adoption of VVT systems thus driving the market growth in this region. In addition, presence of major automotive manufacturers operating in the country in this region and introduction of new models is expected to further support the growth of the target market.
The market in Asia Pacific is expected to witness faster growth this can be attributed to high presence of automotive manufacturers and increasing passenger vehicle sale. Moreover, rising fuel price is resulting in manufacturer’s approach towards development fuel efficient vehicle with high power is another factor expected to boost the growth of the target market.
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The automotive VVT system market in segmented in to product type and application. The product type segment is bifurcated into Continuous VVT and Non-continuous VVT. The Continuous VVT segment is expected to account for moderate revenue share. The application segment is bifurcated in to Passenger Vehicle, Light commercial vehicle, and Heavy commercial vehicle. The passenger vehicle is account for significant revenue share due to increasing passenger vehicle sale in developing countries, coupled with demand of improved fuel efficiency with high power and torque.
Some of the major players operating in the global automotive VVT system market are Robert Bosch, Continental, Denso, Delphi, Hitachi, Borgwarner, Aisin Seiki, Valeo, Johnson Controls, and Mitsubishi Electric. The market players are focused on introduction of more advanced product at low cost in order to expand the product portfolio and attract new customers and increase their business presence through merger and acquisition.
- The global automotive VVT system market was valued at around US$ 55,793 Mn in 2018. Among the vehicle type segment the passenger vehicle segment is expected to contribute significant revenue shares in the market globally.
- According to Society of Indian Automobile Manufacturers, the sale of Passenger Vehicles grew by 2.70 percent in April-March 2019 over the same period last year. Within the Passenger Vehicles, the sales of Passenger Cars, Utility Vehicle & Vans grew by 2.05 percent, 2.08 percent and 13.10 percent respectively in April-March 2019 over the same period last year.
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