The Variable Valve Timing market value is projected to reach US$ 74,335.6 Mn in 2032. The market for variable valve timing is primarily driven by the growing automotive sector as well as rising demand for enhanced and cutting-edge technology in terms of fuel-efficient engines around the globe.
According to FMI, the Variable Valve Timing Market is estimated to be valued at US$ 44,753.4 Mn in 2022 and is projected to increase at a CAGR of 5.8% in the forecast period from 2022 to 2032.
| Attributes | Details |
|---|---|
| Market Size (2021) | US$ 42,325.1 Million |
| Market Size 2022 | US$ 44,753.4 Million |
| Market Size 2032 | US$ 74,335.6 Million |
| Value CAGR (2022 to 2032) | 5.8% |
The global market for variable valve timing has experienced significant growth in recent years as a result of rising demand for more efficient and advanced technology in terms of fuel and vehicle performance, respectively.
Vehicle emissions are rising due to the increased use of passenger and commercial vehicles worldwide, which is a major challange for automakers working to develop vehicles with fuel-efficient technologies. To prevent these circumstances, regulatory agencies are establishing strict regulations for the emission of hazardous and harmfull gases from vehicles.
The OEMs are concentrating on developing new engine technology that can improve performance in order to meet the pollution limits and sustainability challenges. Increasing customer preference for fuel-efficient vehicles, which would likely lead to significant market growth.
One of the primary goals of using variable valve timing systems is to 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.
A vehicle's overall carbon output is decreased using a variable valve timing system. This is predicted to accelerate market expansion throughout the forecast period. Increased sales of crossover and special utility vehicles, particularly in the passenger car category, are another factor driving the industry.
Analysis of the market for variable valve timing from 2017 to 2021 revealed a historical growth rate of less than 5.1% CAGR, with the market expansion being driven by the general expansion of the automotive industry as customers increased spending due to rising disposable incomes.
Initial recessionary downturns brought on by the COVID-19 pandemic resulted in dilation in the supply chain, reduced demand and sales, and production stops or delayed deliveries, shattering growth expectations in the automotive sector. All these are the factors that hampered the automotive market, and also the variable valve market in the pandemic.
However, after the reduced percentage of COVID spread and flattening of infection curves in 2022, the production activities and supply chain resumed with strong demand. As a result of this, FMI’s variable valve timing market demand projection predicts a CAGR of 5.8% by 2032.
The market is growing as a result of a number of factors, including 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 advancely enhancing discharges, efficacy, or execution.
Customers want vehicles that are more fuel efficient and have higher overall performance. The engine is the primary factor that affects a vehicle's performance, and the VVT system is utilised to improve this aspect. It has better motor force, a better burn, uses less fuel, emits less pollution, and optimises the motor cycle. Due to these factors, the market is driven by increased demand for VVT systems in the automotive industry.
Additionally, the variable valve timing system aids 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.
However, it will be harder for a traditional VVT system to provide the necessary level of performance and economy on a stand-alone basis as the fuel economy standards and pollution laws are expected to get substantially stricter. When examining the future of variable valve timing in automobiles, a great desire for new and advanced technology is noticeable.
Although innovative and new technologies have been developed, they must first undergo extensive testing before being used in the regular market. For instance, cam-less Variable Valve Actuation (VVA) systems give the engine's valve train flexibility by providing variable valve event timing, duration, and lift. The market for traditional VVT systems may become constrained in the future due to the emergence of such cutting-edge technologies.
In addition, the increasing use of electric vehicles (EVs) might be seen as the biggest hindrance to the expansion of the global market. Government officials have been particularly concerned about the rising vehicle emissions produced by conventional fuel-based vehicles. Governments are providing financial rewards in the form of subsidies or tax exemptions to individuals buying EVs due to rising global pollution levels.
The market for variable valves is expected to rise due to China's and India's developing automotive industries. Due to the maturity of the automotive sector in Japan and South Korea, the market for VVT is anticipated to expand at a moderate rate.
The Asia Pacific market will rule the sector and experience the highest growth over the coming years. This is because the region's automobile industry includes constantly growing markets including China, Japan, South Korea, and India.
Additionally, rising nations in South Asia and the ASEAN region have a significant demand for VVT systems. The global automotive VVT market in the region is anticipated to experience growth over the forecast period, as a result of rising consumer per capita income, customised financing plans, and decreasing vehicle loan interest rates.
Key players operating in the Variable Valve Timing market include Mitsubishi Electric Corporation, Schaeffler Technologies AG & Co. KG, DENSO CORPORATION, BorgWarner Inc., Hitachi Automotive Systems, Eaton, Hilite International, Mikuni American Corporation, TOYOTA MOTOR CORPORATION, Camcraft, Aisin Seiki Co. Ltd, Continental AG, HUSCO International, Robert Bosch GmbH, Delphi Automotive System Inc, Metaldyne Performance Group Inc., Johnson Controls Inc., Perodua.
The Variable Valve Timing market is highly consolidated as a result of the presence of OEM’s in automotive sector. Key market players are enhancing their regional and worldwide product networks through the introduction of new products, joint ventures, and partnerships with significant industry players.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.8% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Units and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Technology, Phaser Type, Valvetrain, Fuel Type, Vehicle Type, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East and Africa |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, Italy, France, UK, Spain, Benelux, Russia, China, Japan, South Korea, India, ASEAN, ANZ, GCC Countries, Turkey, South Africa, North Africa |
| Key Companies Profiled | Mitsubishi Electric Corporation (Tokyo, Japan); Schaeffler Technologies AG & Co. KG (Herzogenaurach, Germany); DENSO CORPORATION (Aichi, Japan); BorgWarner Inc. (Michigan, USA); Hitachi Automotive Systems (Tokyo, Japan); Eaton (Dublin, Ireland); Hilite International (Texas, USA); Mikuni American Corporation (California, USA); TOYOTA MOTOR CORPORATION (Aichi, Japan); Camcraft (Illinois, USA); Aisin Seiki Co. Ltd (Japan); Continental AG (Germany); HUSCO International (USA); Robert Bosch GmbH (Germany); Delphi Automotive System Inc (USA); Metaldyne Performance Group Inc. (USA); Johnson Controls Inc. (Ireland); Perodua (Malaysia) |
| Customization & Pricing | Available upon Request |
In 2021, the value of the Variable Valve Timing Market reached over US$ 42,325.1 Mn.
During the forecast period, the Variable Valve Timing Market is estimated to expand at a CAGR of 5.8% during 2022-2032.
The Variable Valve Timing Market is projected to reach US$ 74,335.6 Mn by the end of 2032.
Asia-Pacific region is projected to lead the variable valve timing market in the forecast period.
The key players operating in the variable valve timing market are Denso Corp., Schaeffler AG, Hitachi Automotive Systems, Hilite International, and Aisin Seiki Co. Ltd.
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Variable Valve Timing Market
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