The Global Automotive Engine Valve Market is majorly driven increasing penetration of advance steel alloys for engine valves, and stringent regulations to control emissions. The passenger vehicle segment is growing at a highest CAGR due to the increasing adoption of SUVs and increasing availability of inexpensive, compact, and mini SUVs. Asia Pacific dominated with a significant market share due to the increase in disposable income and improvements in the standard of living. North America market is growing at a highest CAGR due to the rising adoption of SUVs and the growing demand for high-performance vehicles.
The Global Automotive Engine Valve Market is accounted for $29.99 million in 2020 and is expected to reach $48.17 million by 2028 growing at a CAGR of 6.1% during the forecast period. Increasing electrification of vehicles to uplift the demand for automotive valves and growth of automotive valves on the backdrop of production are driving the market growth. However, increasing the adoption of engine downsizing by OEMs may hamper the market growth.
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By geography, Asia Pacific is going to have high growth during the forecast period due to the increasing installation of advanced technology features such as automatic transmission, Anti-lock braking system (ABS), and start-stop systems are expected to increase the demand for supporting valves.
Some of the key players profiled in the Automotive Engine Valve include Continental, Delphi Automotive, Eaton, Federal-Mogul Holdings, FTE automotive, Fuji Oozx, Hitachi, Knorr-Bremse, Mahle Group, ShengChi, Tongcheng, Tyen Machinery, Wode Valve, Xin Yue, and Yangzhou Guanghui.
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