Variable valve timing (VVT) market growth is estimated to witness a 6.35% CAGR during the forecast period.
According to the latest report, the global variable valve timing (VVT) market size is predicted to reach USD 50.79 Billion by the end of 2025 with a growth rate of approximately 6.35% CAGR during the forecast period. Variable valve timing is the procedure of adopting the timing of a valve event. It is generally used to ameliorate the performance, emissions, and economy of fuel. It is used in variable valve lift systems.
This report contains all the information on the global variable valve timing (VVT) market research and the market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global variable valve timing (VVT) market analysis and forecast to 2025 is also included in the report.
The variable valve timing (VVT) is used to intensify the opening and closing movement of the valves at numerous engine speeds. It is used for the reduction of emission and to provide better vehicle performance, it also provides maximum power at high RPM and also offers to idle at low RPM. There is a various factor that drives the global variable valve timing (VVT) growth such as the regulations of the governments to stringent engine emission in developed countries, the rise in demand for better fuel economy, and the overall performance of the vehicles. Moreover, the rise in the sales of electric vehicles can be considered as the major hurdle in the growth of the global market.
Since the outbreak of the global pandemic covid 19 in 2019 December, the virus has almost spread to 100 countries around the world and with the declaration of public health emergency by the world health organization, the global impacts of the lockdown has significantly affected the global variable valve timing (VVT) market in the year 2020. It has affected the demand and production of the VVT by creating hurdles in the supply chain of VVT and hence put a negative impact financially on financial markets and firms.
The key companies are willingly investing in developments and researches to improve the materials of the products and to boost the overall performance of the products in order to meet the demand for cost-effective VVTs from the end-user segment.
Major Key Players
The demand for multi-valve timing (VVT) is incredibly high in order to intensify the overall performance of the vehicle and fuel economy. The automotive OEMs and the manufacturers of engines are likely to choose the multi-valve timing in the VVT system which is likely to drive the growth of the global variable valve timing (VVT) market value.
The rise in demand for vehicles that fuel-efficient, the rise in sales of passenger cars, and the development in the technologies of fuel engines predicted to drive the growth of the passenger vehicle segment in the global market during the forecast period.
The demand for the combination of power and torque and fuel economy of engines is the major growth factor for the demand for VVT. However, the aftermarket supply of variable valve timing (VVT) outlook is limited and hence several manufacturers of automobile industries are involved in serious researches and developments in order to computerize the whole process to provide better engine output. Hence it creates opportunities for the key players to regulate the position and angles of the camshaft for the betterment of the system.
The start-stop system can create a threat to the VVT technology which is the major restraint for the global variable valve timing (VVT) market trends. Along with that, the trouble in fault recognition of VVT and the involvement for high costs in replacements has also been creating hurdles in the growth of the global market.
The VVT technology provided in the automobile piston engines can adjust the timing of the intake and exhaust systems in the engines and it can also adjust overlapping timing in order to reduce the consumption of the fuels. The major challenge of the VVT is to settle the timing for the engines that are having operating modes idle, torques, and maximum power with exhaust gas recirculation.
Cumulative Growth Analysis
The rising demand for passenger vehicles has given rise to international automobile manufacturers across the globe to enlarge their capacity of productions. According to the report of the International Organization of Motor Vehicle Manufacturer (OICA), in the year 2018, the production of passenger cars globally reached 70,567,581 units. The SOHC segment helps the engines to make fewer noises, runs smoothly, and also provides the best performances. It also raises the sales of vehicles, fuel efficiency, and the demand for high-power engines.
Value Chain Analysis
According to the reports, the global variable valve timing (VVT) market has been segmented on the basis of technology, valve train, vehicle type, fuel type, and region. On the basis of the technology, the global variable valve timing (VVT) market is segmented into cam-phasing plus charging, cam-phasing, and others. Cam-phasing is predicted to account for the maximum variable valve timing (VVT) market share over the projected timeframe due to its cost-effective mechanism in VVT. On the basis of the valve train, the global market is segmented into DOHC and SOHC. DOHC is likely to register considerable variable valve timing (VVT) market share in the global market due to its capacity of making engine cooler just because it has double exhaust and inlet valves as compared to SOHC.
On the basis of the vehicle, the global market is segmented into passenger vehicles, heavy commercial vehicles, and light commercial vehicles. Passenger vehicles will influence the global market share due to the rise in demand for passenger vehicles in upper-middle classes and the developed economy of developing regions. On the basis of the fuel type, the global variable valve timing (VVT) market is segmented into gasoline and diesel.
The market is segmented on the basis of technology, valve train, vehicle type, fuel type, and region. The global variable valve timing (VVT) market industry is expected to witness decent growth during the forecast period.
On the basis of the region, the global variable valve timing (VVT) market is segmented into North America, Asia-Pacific, Europe, and the Rest of the World. The global market is predicted to witness magnificent growth in North America due to the rise in demand for automobiles in this region mainly in the US.
Asia Pacific region is likely to account for a considerable variable valve timing (VVT) market share in the global market due to the rise of the automobile industries and rising production of vehicles in developing countries such as China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific. The governing authorities of the European region are planning to reach a 20% reduction in carbon emission by the end of 2020. The increased numbers of transport industries in major countries of Europe such as Germany, France, the UK, Italy, Spain, Austria, and the rest of Europe are the major factor for the growth of the variable valve timing (VVT) market revenue in this region.
Global Variable Valve Timing (VVT) Market, by Region, 2018
Source: MRFR Analysis
The following report comprises of –
Global Market: By Technology
Global Market: By Valve Train
Global Market: By Vehicle Type
Global Market: By Fuel Type
Global Market: By Region
|CAGR||6.35% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Technology, Valve Train, Vehicle Type, Fuel Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Eaton Corporation Plc (Republic of Ireland), Robert Bosch GmbH (Germany), Delphi Automotive System Inc (U.S.), Metaldyne Performance Group Inc. (U.S.), Hilite International, Inc. (U.S.), Perodua (Malaysia), Aisin Seiki Co. Ltd (Japan), Hitachi (Japan), Mitsubishi Electric Corporation (Japan), Johnson Controls, Inc. (Ireland), Denso Corporation (Japan), Continental AG (Germany), HUSCO International (U.S.)|
|Key Market Opportunities||Demand for the combination of power and torque and fuel economy of engines|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The market can expand in the future due to huge investments being made by the original equipment manufacturers to develop bigger vehicles with advanced emission control equipment and the inclination towards diesel operated passenger cars.
The market has been divided into the regions of North America, Europe, Asia Pacific and Rest of the World.
The growth rate of the market in the coming years can be 7%.
The top companies are Eaton Corporation Plc (Republic of Ireland), Robert Bosch GmbH (Germany), Delphi Automotive System Inc (U.S.), Metaldyne Performance Group Inc. (U.S.), Hilite International, Inc. (U.S.), Perodua (Malaysia), Aisin Seiki Co. Ltd (Japan), Hitachi (Japan), Mitsubishi Electric Corporation (Japan), Johnson Controls, Inc. (Ireland), Denso Corporation (Japan), Continental AG (Germany), HUSCO International (U.S.), and others.
Technology type, fuel type, engine size, application are the primary segments as per which the market has been studied.