Pune, India, May 2020, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Variable Valve Timing (VVT) Market.
As per Market Research Future’s in-depth study, the global market for variable valve timing (VVT) is continually expanding in the challenging scenario of COVID 19, which is an optimistic approach for all the key players. On this, the future estimations speak that the global variable valve timing market shows expectancy to increase its valuation at around 6.35% rate of growth. At this pace, the valuation could reach up to USD 50.79 Billion during the years 2019 to 2025.
Top Influencing Drivers
The lion’s share of the variable valve timing market from the global level is touching sky limits. The demand for the same is increasing primarily owing to escalating demand for fuel economy of engines, combined with power and torque. Some different regulations correlated to emissions have also been positively impacting the demand for better variable valve timing technology since it plays a pivotal role in tumbling emissions. Also, various law enforcements are requiring automakers to ensure as the lowest possible emissions are created from the engines, consequently leading to advancements in the variable valve timing technology. These factors have been causative to the incredible growth of the global variable valve timing market by focusing on future aspects as well.
The study further claims that the global increment in automobile sales also has one of the known reasons for boosting the growth of the variable valve timing market. Another fact claims to be true that the after-market supply of VVT systems is still quite limited in some regions of the globe. Several automobile manufacturers are engaging in serious research and development to wholly computerize the process for varying the valve timing countless times and also for improved engine output. Due to these factors, the market of variable valve timing could witness a higher valuation in the forecast period than the present.
Moving forward, some more factors, such as the growing demand for cam-less actuation and augmented preference for diesel cars, are creating remunerative opportunities for the market to sustain activity in the future timeframe. On the contrary, factors such as some competing technologies such as start-stop system might pose as a threat to the VVT technology in the forecast period. With this, complexities in fault VVT recognition and high cost of replacement have also been hindering the growth of this market that could prevail in the forecast period as well.
Segmentation of Market: Variable Valve Timing (VVT)
The study by MRFR also digs some segmentation of the global Variable Valve Timing (VVT) Market, which has been done through technology, valve train, vehicle type, and fuel type.
Among the technology type, the global variable valve timing (VVT) market has included cam-phasing plus changing, cam-phasing, and others. Among these, cam-phasing acquired significant share over the projected timeframe. It is the most widely used and cost-effective mechanism in VVT. The emergent demand for fuel efficiency and high-power generation in engines is expected to increase the demand for cam phasing in the global variable valve timing (VVT) market during the forecast period.
Among the valve train segment, the variable valve timing (VVT) market has included DOHC and SOHC. Wherein, DOHC tends to register sizeable share in the global variable valve timing market. The rising research & development in engine management systems, mount in demand for fuel efficiency, ascend in sales of vehicles, and rise in demand for high power engines is further likely to boost the demand for DOHC in the market during the estimated period.
Among the vehicle type segment, the variable valve timing (VVT) market has included light commercial vehicles, passenger vehicles, and heavy commercial vehicles. Among these, a passenger vehicle will lead the market share. The unremitting rise in demand for passenger vehicles has provoked international automobile manufacturers to expand production capacities. As per the International Organization of Motor Vehicle Manufacturers (OICA), back in 2018, the global production of passenger cars achieved 70,567,581 units. The escalating demand for passenger cars is owing to the rising middle and upper-middle classes, speedy growth in the economy of developing regions, and an amplify in the individual spending capacity all over the world.
Among the fuel type segment, the variable valve timing (VVT) market has included gasoline and diesel. The rise in sales of passenger cars and the immediate demand for luxury vehicles in developing markets such as India, China, and Brazil are anticipated to boost the demand for VVT in the global market during the forecast period.
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Region-wise, the study moves forward with analysis of the global variable valve timing (VVT) market in various regions such as Asia-Pacific, North America, Europe, and the Rest of the World.
The variable valve timing (VVT) market in North America is likely to suspect significant growth owing to the boost in demand for automobiles, mainly in the US. There is a high demand for commercial vehicles in the country, which is likely to result in improved demand for engines and VVT. The US government has instituted regulations to control vehicular emissions, leading to OEMs using advanced technologies to curtail vehicular emissions.
The region of Asia-Pacific acquired a substantial share in the global variable valve timing market. Asia-Pacific region, with its countries such as Japan, China, India, Australia, South Korea, has witnessed immense growth of the market in these years. The automotive industry here is growing at a fast pace owing to the rise in the sale of automobiles and the budding production of vehicles in mainly China and India. The augmented sales of automobiles in the region can be attributed to factors such as growing per capita income, rapid infrastructure development, initiatives to advance the FDI, and low production costs.
The region of Europe and its countries Germany, France, the UK, Italy, Spain, and Austria, have been showing immense growth in the market share. The leading authorities in the region are strategically planning to achieve a 20% reduction in emissions by 2020. The mounting transport industry in Europe has provoked the regional governments to set emission reduction targets, enhance the fuel-efficiency of vehicles, and introduce sustainability criteria to control emissions. This is likely to affect VVT specifications within Europe.
Top Market Contenders
The top market contenders of the Global Variable Valve Timing (VVT) Market are listed as Hitachi, Ltd, BorgWarner Inc., DENSO CORPORATION, Ltd, Husco International, Eaton, Schaeffler Technologies AG & Co. KG, AISIN SEIKI Co., Hilite International, Inc., Mitsubishi Electric Corporation, and Sumitomo Electric Industries, Ltd.