Automotive Variable Valve Timing Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Automotive Variable Valve Timing Market Analysis
The automotive variable valve timing market was valued at USD 64.20 billion in 2021, and it is expected to reach USD 96.35 billion by 2027, registering a CAGR of 7% during the forecast period.
The COVID-19 pandemic's impact on the automotive sector led to the shutting down of assembly plants, manufacturing interruptions, and ceased export of Chinese components in the face of the lockdown situation across the world. This resulted in a significant drop in vehicle sales in early 2020, fueled by oil price fluctuations and economic slowdown in various regions. The automotive industry is recovering from the pandemic, as vehicle sales has been increased by 5% across the globe in 2021. Such an increase in vehicle sales witnessed major growth for the market.
Over the medium term, the enactment of stringent emission norms and an increase in demand for the lightweight vehicle are likely to increase the demand for variable valve timing. Growing consumer trend toward fuel-efficient vehicles, which in turn is likely to witness major growth for the market. An introduction to advanced technology such as cam phasing is likely to increase the hybridization of the vehicle, which is likely to witness significant growth for the market.
Regulatory bodies are enacting stringent rules for the emission of harmful gases from vehicles to control such situations. An automotive variable valve timing system reduces the overall carbon emission from a vehicle. This sequentially, anticipated to boost the market growth during the forecast period. The market is further driven by an increase in sales of special utility vehicles and crossover models, especially in the passenger cars segment.
The Asia-Pacific region is dominating the automotive variable valve timing market followed by Europe and North America over the forecast period. Rapid growth in the sale of passenger vehicles is one of the prime factors that boost the market growth in these regions.
Automotive Variable Valve Timing Market Trends
This section covers the major market trends shaping the Automotive Variable Valve Timing Market according to our research experts:
Electric Cam Phaser is witnessing Major Growth
An electric cam phaser is dominating the automotive variable valve timing market in terms of revenue during the forecast period. An enactment of stringent emission norms to enhance the fuel efficiency of the vehicle is likely to enhance the demand for hybrid vehicles across the globe.
The rise in vehicle hybridization where the engine is consistently restarted as compared to an Internal combustion engine. Electric cam phasers help to reduce the torque while the engine starts and help to run the engine smoothly. Several governments across the globe are offering tax incentives that accelerated hybrid electric vehicle sales across the globe. For instance,
- In 2021, Dubai's Roads and Transport Authority announced its ambitious plans for converting half of the Emirate's cabs to hybrid vehicles.
Several hybrid electric vehicle manufacturers across the globe are enhancing their product portfolios to promote hybrid electric vehicle sales. For instance,
- In April 2022, Toyota Motor invested an amount of USD 383 Million in four factories across the United States to promote the production of hybrid vehicles.
- In 2021, Toyota Motors invested an amount of around USD 6.2 billion in developing a hybrid vehicle technology. The company also invested an amount of USD 13.6 billion in batteries used for electric and hybrid vehicles by 2030.
Such an increase in investment for hybrid vehicles across the globe is likely to increase the demand for electric cam phasers during the forecast period.
Asia-Pacific is Expected to be the Fastest Growing Region
Asia-Pacific accounts for almost 60% of the world's population, and hence, the demand for vehicles is expected to be the highest in the region for the forecast period. Growing consumer interest in advanced technologies in vehicles and increasing sales of passenger and commercial vehicles in the region are expected to drive demand in the market.
The players in the region are investing heavily in research and development to provide OEMs with products that enhance the engine performance and increase the fuel efficiency of the engine. For instance,
- In December 2021, Mikuni Corporation has expanded its production facilities in India for the development of an intake variable valve timing actuator.
Furthermore, rising prices of gasoline and petrol are expected to evoke demand for fuel-efficient engines, thereby propelling the growth of VVT systems. With a considerable expectation of sales during the forecast period in the region, it is expected that people will prefer cars with advanced technology due to the presence of major developing countries, like India and China.
Automotive Variable Valve Timing Industry Overview
The automotive variable valve timing system ( VVT) market is dominated by a few major players operating in the market such as Schaeffler AG, BorgWarner Inc., Eaton Corporation, Hitachi Automotive, Denso Corporation, and Many others. The majority of the share is occupied by them due to the expensive and complicated manufacturing process of VVT systems. Major market players are focusing on adopting various growth strategies to develop their businesses. In addition, they also emphasize R&D to improve the efficiency and functionality of the VVT systems. For instance,
- In March 2021, Eaton Corporation announced that its Vehicle Group had introduced its next-generation sodium-filled hollow-head valves, which improve fuel economy, reduce emissions, and increase performance in gas-powered engines. The valves feature a unique design that lowers the cylinder chamber temperature while mitigating engine knock.
Automotive Variable Valve Timing Market Leaders
-
Hitachi Automotive
-
DENSO Corporation
-
Schaeffler AG
-
Eaton Corporation Plc
-
BorgWarner Inc.
*Disclaimer: Major Players sorted in no particular order
Automotive Variable Valve Timing Market News
- In May 2022, Toyota Handler was equipped with the new turbocharged engine. This engine has a Variable Valve Timing-intelligent system by an Electric motor (VVT-iE) on the intake camshaft, and VVT-i on the exhaust camshaft.
- In February 2022, Schaeffler India introduced the Hydraulic Cam Phaser solution used in passenger vehicles..
Automotive Variable Valve Timing Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Phaser Type
5.1.1 Hydraulic Cam Phaser
5.1.2 Electric Cam Phaser
5.2 Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicles
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Reat of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Japan
5.3.3.4 South Korea
5.3.3.5 Rest of Asia-Pacific
5.3.4 Rest of the World
5.3.4.1 Brazil
5.3.4.2 Mexico
5.3.4.3 United Arab Emirates
5.3.4.4 Other Countries
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 Denso Corporation
6.2.2 Schaeffler AG
6.2.3 Hitachi Automotive
6.2.4 Valeo
6.2.5 Eaton Corporation
6.2.6 Borgwarner Inc.
6.2.7 Aisin Seiki Co. Ltd
6.2.8 Robert Bosch GmbH
6.2.9 Mitsubishi Electric Corporation
6.2.10 Johnson Controls, Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS**
Automotive Variable Valve Timing Industry Segmentation
Variable valve timing is an opening and closing of the valve at different engine speeds. Such opening and closing of the valve allows more air-fuel mixture into the engine cylinder. Variable valve timing (VVT) is used to improve performance, fuel economy, or emissions. The scope of the report covers segmentation based on phaser type, vehicle type, and geography.
Based on the phaser type, the market is segmented into hydraulic cam phasers and electric cam phasers. Based on the vehicle type, the market is segmented into passenger cars and commercial vehicles, and based on geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the world. For each segment, market sizing and forecast have been done on the basis of value (USD billion).
| Phaser Type | |
| Hydraulic Cam Phaser | |
| Electric Cam Phaser |
| Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
| Geography | |||||||
| |||||||
| |||||||
| |||||||
|
Automotive Variable Valve Timing Market Research FAQs
What is the current Automotive Variable Valve Timing Market size?
The Automotive Variable Valve Timing Market is projected to register a CAGR of 7% during the forecast period (2024-2029)
Who are the key players in Automotive Variable Valve Timing Market?
Hitachi Automotive, DENSO Corporation, Schaeffler AG, Eaton Corporation Plc and BorgWarner Inc. are the major companies operating in the Automotive Variable Valve Timing Market.
Which is the fastest growing region in Automotive Variable Valve Timing Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Automotive Variable Valve Timing Market?
In 2024, the Asia-Pacific accounts for the largest market share in Automotive Variable Valve Timing Market.
What years does this Automotive Variable Valve Timing Market cover?
The report covers the Automotive Variable Valve Timing Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Variable Valve Timing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Automotive Variable Valve Timing Industry Report
Statistics for the 2024 Automotive Variable Valve Timing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automotive Variable Valve Timing analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
