Global Variable Valve Timing (VVT) Industry Information Report By Technology type , By fuel type By engine size , by application (Passenger Cars, Commercial Vehicles and Others) and By Region – Forecast To 2023
Market Research Future (MRFR) notes that the global Variable Valve Timing (VVT) Industry has observed significant growth in recent years and can achieve a CAGR of 7% during the forecast period (2017-2023).
Top Drivers and Primary Challenges
The global VVT market demand is continuously rising, mainly owing to the soaring demand for fuel economy of engines, along with power and torque. Several regulations with regard to emissions also boost demand for advanced VVT technology as it helps bring down emissions.
A number of law enforcement authorities now ensure that the automakers create engines that generate the lowest possible emissions, which is resulting in developments in the VVT technology. Moreover, the worldwide surge in automobile sales also works in favor of the VVT market.
Having said that, competing technologies like start-stop system give tough competition to the VVT technology in the market. However, rising inclination towards diesel operated passenger cars will ensure smooth progress of the market in the coming years. It is also believed that increasing household income and infrastructural developments can have a positive analysis on the variable valve timing market in the forthcoming years.
The primary segments with respect to which the global Variable Valve Timing (VVT) Industry has been described in the report include technology type, fuel type, engine size, and application.
The market, considering the technology, includes cam-phasing system, variable valve actuation systems, and others. Between these, cam phasing systems had been the leading segment in the market in 2016, revenue-wise. The segment’s top position in the market is the result of the simplicity and the ability to modify the timing of closing and opening in cam phasing systems.
Depending on the fuel type, the market caters to Diesel Variable Valve Timing Systems and Gasoline Variable Valve Timing Systems. The Gasoline Variable Valve Timing System segment can have significant growth over the assessment period, on account of the high demand for gasoline engines, given the rising production of passenger cars. In addition, boosted demand for luxury and semi-luxury vehicles in emerging countries like India, Brazil and China also propels the position of the segment.
In terms of the engine size, the Variable Valve Timing (VVT) Industry includes compact size, full-size and mid-size.
Application-based segments in the Variable Valve Timing (VVT) Industry are passenger cars, commercial vehicles, and others.
The regional study of the global Variable Valve Timing (VVT) Industry includes North America, Europe, Asia Pacific (APAC), and also the Rest of the World (RoW).
The VVT market in North America is expected to gain the highest traction during the evaluation period. High sales of special utility vehicles as well as cross-over models, primarily in the passenger cars segment is one of the main drivers of the market growth in the region. The hike in the demand for fuel economy coupled with growing advancement of in-vehicle technologies also favors the regional market. Some additional factors that promote market growth in the region include depletion of oil reserves and rising need for fuel-efficient technologies.
Europe exhibits a host of attractive opportunities for growth and can have a remarkable growth during the projection period. The thriving automotive sector in the region has given way to numerous technological advancements. These advancements are most likely to have a profound effect on the growth trajectory of the Variable Valve Timing (VVT) Industry in Europe. Over and above that, stringent regulations implemented by the European Union to maintain air quality will result in further market expansion in the years ahead.
APAC is touted to demonstrate the fastest growth in the global market, with backing from factors like emission norms levied by governments in India and China. Also, considerable investments by original equipment manufacturers in the manufacturing process of bigger cars that have advanced emission control equipment are believed to be a deciding factor in the fate of the market during the review period.
Top players in the variable valve timing market are Hilite International, Inc. (U.S.), Robert Bosch GmbH (Germany), Eaton Corporation Plc (Republic of Ireland), Delphi Automotive System Inc (U.S.), Hitachi (Japan), Denso Corporation (Japan), Continental AG (Germany), Mitsubishi Electric Corporation (Japan), Perodua (Malaysia), Metaldyne Performance Group Inc. (U.S.), Aisin Seiki Co. Ltd (Japan), Johnson Controls, Inc. (Ireland), HUSCO International (U.S.), to name a few.
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