Modern and Downsized Engines Pushing Innovations in Valve Seat Inserts
Manufacturers operating in the automotive sector have consistently adapted to the evolving technological innovations and industrial landscape. In the last couple of decades, there has been a significant surge in the number of automotive vehicles worldwide. Further, the demand for off-road vehicles and industrial machinery witnessed a steady growth which in turn, has influenced the growth of the valve seat inserts market. In recent years, as the adoption of aluminum cylinder heads increased, valve seat inserts garnered noteworthy popularity among automotive manufacturers as sintered valve seat inserts can efficiently handle high mechanical and thermal stress generated by modern engines.
In the current scenario, consumer trends have played an important role in shaping the valve seat inserts market as consumers are leaning towards valve seat inserts made from thermal resistive and durable materials. The demand for valve seat inserts produced by powder metallurgy observed a steady growth, owing to their credible benefits including, enhanced performance, reduced costs, and improved component complexity.
Valve Seat Inserts Market – Key Research Findings
- The global valve seat inserts market size in 2019 is predicted to reach ~US$ 5 Bn.
- The valve seat inserts market is expected to grow at a CAGR of ~4% during the forecast period of 2019-2029.
- According to analysis, new material development for valve seat inserts is being done by the manufacturers while ensuring the engines meet performance and durability standard. Additionally, at a capacious level - environmental factors, ride sharing, better public transport, and urban apartment living are the macro-level factors to sway the demand in car purchases.
- Collectively, Europe and East Asia are set to account for nearly 66% of the revenue shares in the valve seat inserts market by the end of 2029. The availability of cheaper raw material, robust manufacturing capabilities, and hefty automobile production, are translating to dominance of these regions in the valve seats inserts market.
- China accounts for nearly a quarter of the global automobile production and similarly, Japan boasts a share of nearly 8% in the world. Consequently, with a substantial production share in the world, the demand for valve seats is expected to remain buoyant in these countries.
- The sales of valve seat inserts are robust in the gasoline engine primarily manufactured of iron and steel alloys.
- The steel versus aluminum alloys debate will continue to rage as OEMs seek ever lighter materials by adulterating the product with nickel, manganese alloys for the development of valve seat inserts. Moreover, the demand for high-grade materials is likely to increase in the coming years due to increasing manufacturing by powder metallurgy.
How Powder Metallurgy Will Transform the Valve Seat Inserts Market
According to European Powder Metallurgy Association, valve seat inserts manufactured through powder metallurgy offer a variety of benefits including cost saving, improved performance, and increased component complexity. Moreover, modern engines developed by OEMs and tier-1 manufacturers put much higher levels of mechanical and thermal stress on valve seat inserts. Thus, to handle the more severe conditions within these engines, the OEMs are equipping engines with sintered valve seat inserts. However, cast chrome and auxiliary alloy-based valve seat inserts will not adequately withstand the demands of environment. Nickel-based alloys and others (high grade material) are imperative for the valve seat inserts market growth over the coming years.
Expansion of Sales Channels and Introduction of New Products Will Give the Winning Edge
Global automotive production and sales are subject to cyclical trends and imponderables to sway the market performance in the foreseeable future. The companies in the valve seats market are expanding aftermarket offerings to capture value from existing vehicle parc and aftermarket exports. A shift by manufacturers to sell valve seat inserts through new channels, predominantly e-commerce will offer a conspicuous boost to the valve seat inserts market. For instance, the companies such as Mahle, TRW, Federal-Mogul, among others are offering valve seat inserts through online partners such as Alibaba, IndiaMART etc.
Ongoing Production Cuts by the OEMs to Stifle the Market Growth
Manufacturers are heavily focusing on cutting down the production, as numerous variations in the product line-up are proving expensive and complicated while incentives and marketing supports are strained. Rise of rental fleet and ride sharing scenario in the market space will directly impact the production of vehicles and valve seat inserts market. Recently, the OEMs outlined plans to launch new EVs to hit annual sales of 23 million electrified vehicles by 2023. Subsequently, aftermarket will be the key arena where manufacturers of valve seat inserts can find their winning imperative against the backdrop of a mammoth automotive fleet.
East Asia to Maintain their Status Quo in the Valve Seat Inserts Market
A host of geographical and technological developments is expected to disrupt the automotive aftermarket pertaining to valve seat inserts over the next 8-10 years. Prominence of automakers in East Asia squarely influence the demand for valve seat inserts.
On the other hand, India is at the forefront of many segments - leading in two-wheelers and tractors across the world. An evolving regulatory and trade environment is forming the backdrop for the valve seat inserts market development. Moreover, the Society of Indian Automobile Manufacturers cited that lower government spending, the impact of the election, and production cuts by companies is going to impact the valve seats market.
Valve Seat Inserts Market Structure Analysis – Acquisitions and Product Innovations Leading the Way
- The global valve seat inserts market represents a fairly consolidated competition landscape, where several players are involved in mergers & acquisitions (M&A) and are riding on this juggernaut to continue in their quest for growth.
- Top players operating in the valve seats inserts market account for significant market size with a market share of ~40-45% and are mainly engaged in the capacity expansion and product innovation to cater to the growing demand. For instance, recently, Nippon Piston Ring enhanced production capacity to boost output of valve seats significantly in India to benefit from the bolstering motorcycle and car production in the country. Furthermore, Federal-Mogul developed High Thermal Conductivity (HTC) materials and Thermal Interface Material (TIM) for valve seat inserts.
- A shift towards novel distribution/sales channels and partnerships, in particular e-commerce businesses and workshops, is expected to be seen in the valve seat inserts market.
- As per the life cycle of valve seat inserts is concerned, it ranges between growth and maturity. For instance, the demand for ferrous-based valve seat inserts is stagnating and the sales of nickel-based and high-grade materials are increasing. Therefore, translating this hypothesis, it is evident that the companies entering the valve seat inserts market have lesser odds of success than those who entered early in the valve seat inserts market. In addition, followers or small scale manufacturers of valve seat inserts tend to cater to the domestic market as opposed to leading players.
Powder Metallurgy Technology - Providing Solutions to Improve Durability of Valve Seat Inserts (VSI)
At present, manufacturers operating in the valve inserts market are focusing on addressing customer demands and reducing costs to increase sales. In addition, research and development activities have increased at a rapid pace as manufacturers are exploring the potential of using new materials to develop valve seat inserts and simultaneously ensure that engine performance and durability is not affected.
In the current scenario, the demand for compact and highly loaded engines and engines that use alternative fuels to function is on the rise. However, the aforementioned engine generate high temperatures and exert high degree of combustion pressure on the valve train and valve seat inserts which eventually cause the valve seat inserts to wear out. Moreover, over the course of the last decade, the demand for highly efficient engines with reduced carbon emissions and advancements in variable valve timing technology has also resulted in high valve seat tear as these systems hinder the lubricity of the exhaust gas stream. The highly conventional approach towards enhancing valve seat inserts durability is to significantly increase the magnitude of alloying using wear-resistant particles. However, this approach is like to cause machining problems and create hurdles for series production. Thus, advanced powder metallurgy emerged as one of the best ways to solve the aforementioned problems. The adoption of powder metallurgy to manufacture valve seat inserts is on the rise as it is cost-effective. In addition, powder metallurgy is expected to play a critical role in the manufacturing of valve seat inserts in the coming years.
Lucrative Prospects in East Asia to Boost Demand
The automotive sector in East Asia, especially in nations such as China and Japan is expected to create lucrative opportunities for manufacturers operating in the valve seat inserts market. Some of the factors contributing towards market growth in East Asia include, availability of inexpensive raw materials, large-scale automobile production, and evolving manufacturing capabilities. Further, the growth of maritime tourism in South Korea, Japan, and China has created pockets of opportunities for manufacturers owing to the growing demand for new crew boats. Some of the other factors shaping the growth of the valve seat inserts market include, growing demand for SUV’s in India, steady increase in disposable income, growing middle-class population, and onset of electronic vehicles.
* This data is only a representation. Actual data may vary and will be available in report.
Manufacturers Aim To Improve Their Production Potential to Gain Advantage
In recent years, manufacturers operating in the valve seat insert market are devoting resources towards product development, innovation, and expanding their product portfolio, in order to overcome the existing challenges within the industrial landscape. For instance, Federal-Mogul Powertrain, an established manufacturer in the valve seat inserts market, developed High Thermal Conductivity (HTC) and Thermal Interface Material (TIM) for valve seat inserts. Furthermore, Nippon Piston Ring significantly increased their production capacity in India owing to the robust growth in automotive production in the country.
Manufacturers are constantly seeking opportunities to improve their technological and production potential to gain a competitive edge in the market. Besides, a few prominent players in the industry are turning their attention towards the potential opportunities in the untapped markets. The onset of the e-commerce businesses has emerged as an excellent distribution/sales channel for manufacturers operating in the industry and the trend is expected to gather momentum in the foreseeable future. At present, multiple manufacturers are offering their products on e-commerce websites including, IndiaMART and Alibaba.
Iron alloy remains highly preferred
Nickle-based alloys gain momentum
High adoption in gasoline engine
Growing usage in diesel engine
High applicability in automotive sector
Modest adoption in the marine sector
How Growth will Unfold
The global valve seat inserts market is expected to grow at a moderate pace in the coming years amidst the evolving industrial and environmental regulations. In the coming years, manufacturers are expected to leverage the onset of advanced technologies such as powder metallurgy to offer resilient, efficient, and cost-effective valve seat inserts. Further, as downsizing of modern day engines continues, manufacturers need to focus on enhancing the lifecycle of valve trains and valve seat inserts by using wear-resistant materials. The growth of maritime tourism in regions including China, Mexico, and South Korea among others is further expected to bolster the growth for valve seat inserts. Further, for business development, manufacturers are expected to lean toward mergers and acquisitions with regional leaders to penetrate new markets.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Valve Seat Inserts Market: Scope of the Report
A recent market study published by FMI on the valve seat inserts market includes global industry analysis 2014-2018 & opportunity assessment 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historic as well as current growth parameters of the valve seat inserts market, the growth prospects of the market are obtained with maximum precision.
Valve Seat Inserts Market Taxonomy
The global valve seat inserts market is segmented on the basis of material, sales channel, engine, end use and region. It aims to cover every aspect of the market and presents a complete market intelligence approach to the reader.
- Iron Alloys
- Nickel-based Alloys
By Sales Channel
- Gasoline Engines
- Diesel Engines
- Gas Engines
By End Use
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Two wheelers
- Industrial Machinery
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
The report commences with an executive summary of the Valve Seat Inserts market, which includes a summary of the key findings and statistics of the market. It also includes the global market outlook, supply-side as well as demand-side trends, recommendations, etc.
In this chapter, readers can find the definition and detailed taxonomy of the Valve Seat Inserts market, which will help them understand the basic information about the market. This section also highlights inclusions and exclusions to help readers understand the scope of the Valve Seat Inserts market report.
The report provides key market trends that are expected to impact the market growth significantly during the forecast period. Detailed industry trends are provided in this section, along with product innovations and key market developments.
This section includes the key inclusions of the report. It includes key developments, strategic collaborations, and providing customer specific products of the Valve Seat Inserts market.
This section explains the global market volume analysis by unit sales and forecast for the Valve Seat Inserts market during the period of 2014-2029.
This section highlights the price of the Valve Seat Inserts in several regions throughout the globe. The pricing benchmark for manufacturer by value base pricing, cost based pricing and competition based pricing has been analyzed in this section.
This section explains the global market volume analysis and forecast for the Valve Seat Inserts market in the forecast period of 2019-2029. This chapter includes the detailed analysis of the historical Valve Seat Inserts market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the year (2014 – 2018), and incremental opportunity for the forecast period (2019 – 2029).
This chapter explains the key macro-economic factors that are expected to influence the growth of the Valve Seat Inserts market over the forecast period. Along with the macroeconomic factors, this section also highlights opportunity analysis for the Valve Seat Inserts market. It also highlights the key market dynamics of the market such as drivers, restraints, trends, and opportunities. Moreover, readers will understand the value chain analysis, automotive industry overview, forecast factors, etc. Key examples of macroeconomic factors considered in this study are: on road fleet and production statistics of passenger cars, regional GDP growth scenario by end use industry and overview of different types of passenger cars such as Compact, Mid-Size, SUV, Luxury, etc.
Based on Material Type, the Valve Seat Inserts market is segmented into Iron Alloys, Nickel Alloys, Steel and Others. In this chapter, readers can find information about the growth trends and market size estimations in the Valve Seat Inserts market by each segment and market attractiveness analysis.
This chapter provides details about the Valve Seat Inserts market on the basis of engine type, and has been classified into gasoline engine, diesel engine and gas based engine. This will help readers understand the market attractiveness analysis based on each engine type.
This chapter provides details about the Valve Seat Inserts market on the basis of Sales Channel, and has been classified into OEM and Aftermarket. Readers can also understand the market attractiveness analysis based on the Sales Channel type.
This chapter provides details about the Valve Seat Inserts market on the basis of end use, and has been classified into automotive, off-highway, 2 wheelers, marine and industrial machinery. Readers can also understand the market attractiveness analysis based on the end-use industry.
This chapter explains how the Valve Seat Inserts market will grow across several geographic regions such as the North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa.
This chapter includes a detailed analysis of the growth of the North America Valve Seat Inserts market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on the technology and countries in North America.
This chapter includes a detailed analysis of the growth of the North America Valve Seat Inserts market, along with a country-wise assessment that includes Brazil, Mexico and other associated countries. Readers can also find regional trends, regulations, and market growth based on the technology and countries in Latin America.
Important growth prospects of the Valve Seat Inserts market based on its products in several countries such as Germany, U.K., Italy, France, Russia, Spain and rest of Europe. Readers can also find regional trends, regulations, and market growth based on the technology and countries in Latin America.
India and ASEAN are prominent countries in the region of South Asia. These regions that are the prime subjects of assessment to obtain the growth prospects of the South Asia Valve Seat Inserts market in this chapter. Readers can find detailed information about the growth parameters of the South Asia Valve Seat Inserts market during the forecast period of 2019-2029.
This chapter provides information about how the Valve Seat Inserts market will grow in major countries of East Asia such as China, Japan, and South Korea during the forecast period of 2019-2029.
This chapter provides information about how the Valve Seat Inserts market will grow in Oceania such primarily in Australia and New Zealand during the forecast period of 2019-2029.
Important growth prospects of the Valve Seat Inserts market based on its products in several countries such as GCC countries, Turkey, South Africa, and others are provided in this section.
This chapter provides information about how the Valve Seat Inserts market will grow in emerging markets in identified countries such as China, India and Mexico during the forecast period of 2019-2029.
In this chapter, readers can find detailed information on Market Structure about the tier analysis and market concentration of key players in the Valve Seat Inserts market, along with their market presence analysis by region and product portfolio. Additionally in this chapter, readers can find a comprehensive list of all the prominent stakeholders in the valve seat inserts market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are MAHLE GmbH, Tucker Valve Seat Company, Indian Seats & Guides Company, Nippon Piston Ring co., Ltd, Dura-Bond Bearing Company, BLW Engine Valves, Federal-Mogul LLC, MS Motorservice International GmbH, Microfinish, Kavya International, Perfect Alloy Components Pvt. Ltd., Coopercorp Engine Components, Summit Valve Train LLC, among others.
In order to offer an accurate forecast, FMI started by sizing the current valve seat inserts market, which forms the basis of how the global valve seat inserts market is expected to develop in the coming years. Given the characteristics of the global valve seat inserts market, we triangulated the outcome of different types of analysis, based on primary research, secondary research, and our own analysis. In addition, it is important to note that, in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR (Compound Annual Growth Rate) but also analyse the market on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the market and identify the right opportunities available for value chain participants.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the Valve Seat Inserts market report.
How the research was conducted?
Primary research interview with Key Opinion Leaders and other participants are conducted for data collection and validation of the below information:
- Average Selling Price (US$) and Market Growth
- Key Developments
- Key Trends and Opportunities
- Region wise Dynamics
- Market Share analysis
- Competition & Key Winning Strategies
- Robotic Gripper Manufacturers
- Key participants across the value chain
- Annual Reports/SEC filings/Investor Presentations/Earning Call Transcript
- Industry Journals/Publications
- Robotic Industry Associations
Primary Interview Splits