The global variable valve timing market is anticipated to showcase a positive growth outlook in the global landscape by exhibiting an opulent CAGR of about 5.8% during the assessment period from 2022 to 2032. The global market is estimated to be valued at US$ 44,753.4 Mn in 2022 and is projected to reach US$ 74,335.6 Mn in 2032.
As per the historical evaluation conducted by FMI, the global variable valve timing market registered a growth rate of less than 5.1% CAGR from 2017 to 2021. The growth of the market is attributed to the market expansion being driven by the spread of the automotive industry as customers increased spending due to rising disposable incomes.
The market for variable valve timing is majorly fueled by the surging automotive sector as well as the increased demand for enhanced and cutting-edge technology on the basis of fuel-efficient engines all over the world. Furthermore, the demand for variable valve timing market saw a dip during Covid spread but with the flattening of infection curves in 2020, the production activities and supply chain resumed with strong demand.
The global variable valve timing market witnessed significant growth over recent years that resulted in surging demand for more efficient and advanced technology on the basis of fuel and vehicle performance, respectively. Furthermore, vehicle emissions are on the rise due to the excessive use of passenger and commercial vehicles all over the world, which is also emerging as a major challenge for several automakers working to develop vehicles with fuel-efficient technologies. In order to avoid these hindrances, various regulatory agencies are establishing strict regulations for the emission of hazardous and harmful gases from vehicles.
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Key Takeaways
- The global variable valve timing market is expanding at a rapid speed due to a number of factors such as rising hybridization rates, stricter pollution standards in developed and developing nations, and consumer demand for better fuel economy and vehicle performance. A vehicle’s variable valve timing system prolongs the life of the engine while advance enhancing discharges, efficacy, or execution.
- In the present times, customers are searching for vehicles that are more fuel efficient and have higher overall performance. The engine is the major factor that affects a vehicle’s performance and the VVT system is used to enhance this aspect. It is an ideal choice because of its better motor force, better burn, uses less fuel, emits less pollution, and optimizes the motorcycle. Due to these factors, the market is driven by increased demand for VVT systems in the automotive industry.
- Furthermore, the variable valve timing system helps in adjusting the valve timing in accordance with the IC engine cycle, consequently reducing carbon emissions and ultimately promoting the expansion of the global variable valve timing (VVT) market.
- The focus of OEMs is fully on the development of new engine technology that is responsible for efficiently improving performance to meet pollution limits and sustainability challenges. Shifting consumer preferences towards fuel-efficient vehicles is likely to drive significant market growth.
- One of the primary goals of utilizing variable valve timing systems is to effectively manage the timing of the valves within the engine control unit. An essential component of the engine control unit is the variable valve timing system, which combines mechanical and electrical components to regulate the lift and duration of the valve.
- Using a variable valve timing system significantly decreases the overall vehicle’s carbon output. Attributing to this factor, the global variable valve timing market is predicted to accelerate throughout the forecast period. Surging sales of crossover and special utility vehicles, particularly in the passenger car category, are another factor driving the industry.
Competitive Landscape
Key players in the global variable valve timing market are enhancing their regional and worldwide product networks through the introduction of new products, joint ventures, and partnerships with significant industry players. The global market is anticipated to highly consolidate, resulting in the presence of OEMs within the automotive sector.
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More Insights into the Variable Valve Timing Market
The global market for variable valves is anticipated to rise in developing economies like China and India. This surge is attributed to the maturity of the automotive sector in Japan and South Korea, the market for VVT is anticipated to expand at a moderate rate.
Key Segments Profiled In The Variable Valve Timing Market Report Variable Valve Timing Market
By Technology, Variable Valve Timing Market is segmented as:
- Cam-Phasing
- Cam-Phasing plus changing
By Phaser Type, Variable Valve Timing Market is segmented as:
- Hydraulic Cam Phaser
- Electric Cam Phaser
By Valvetrain, Variable Valve Timing Market is segmented as:
- Dual Overhead Camshaft (DOHC)
- Single Overhead Camshaft (SOHC)
By Fuel Type, Variable Valve Timing Market is segmented as:
- Gasoline
- Diesel
By Vehicle Type, Variable Valve Timing Market is segmented as:
- Passenger Vehicle
- Compact Car
- Midsize Car
- SUV
- Luxury
- Commercial Vehicle
By Region, Variable Valve Timing Market is segmented as:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
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