The global automotive valvetrain system market is expected to grow at a CAGR of close to 3% from 2017-2021, according to a new market research report by Technavio.
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Technavio has published a new market research report on the global automotive valvetrain system market 2017-2021 under their automotive library. (Graphic: Business Wire)
Global automotive valvetrain system market segmentation by product segment and geography
Technavio’s report on the global automotive valvetrain system market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by product segment, including camshaft, valves, rocker arms, and pushrods. As projected in 2016, around 53% of the market share originated from camshaft. The high demand for cast iron camshaft is attributed to the large market share of the passenger and commercial vehicles segments.
Based on geography, the global automotive valvetrain system market has been segmented into APAC, EMEA, and the Americas. As of 2016, around 54% of the market share came from APAC.
“The growth of the automotive valvetrain system market in APAC mostly depends on the sales of new passenger cars and commercial vehicles. Strong economic growth in China, Indonesia, India, Thailand, and South Korea are anticipated to drive the demand for new passenger cars and commercial vehicles in the region during the forecast period. Factors such as decreased preference for electric vehicles in this region and absence of supporting infrastructure are expected to fuel the demand for automotive valvetrain systems used in ICEs,” says Keerthi Balu, a lead analyst at Technavio forautomotive components research.
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Global automotive valvetrain system market: competitive vendor landscape
The global automotive valvetrain system market is characterized by intense competition because of the presence of many well-established international vendors. Technological advances such as performance-boosting systems are predicted to increase the competition during the forecast period. The growth of the global automotive market will have a positive influence on the global automotive valvetrain system market as valvetrains are offered as standard fitments in ICEs.
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Other topics covered in the report:
Market drivers:
- Increasing preference for high-performance vehicles drives the demand for valvetrain systems
- Rising use of dual valvetrain system fuels the demand for additional components
Market challenges:
- Introduction of camless engines
- Increasing penetration of inline-four engines
Market trends:
- Alternate materials and technology used for making automotive valvetrain components
- Shift to automotive pushrods with roller bearings and hydraulic tappets
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