Automotive Water Valves Market: Introduction
The underlying principle of an automotive water valve is thermal management. Automotive water valves optimize the in-cabin temperature of a vehicle in conjunction with heat control.
They help in controlling and regulating coolant flow in an automotive, which, in turn, reduces the heat-up phase for fuel and thus, saves the emission of carbon dioxide. Automotive water valves remove excess heat from the engine, maintain the engine operating temperature and bring the operating temperature of the engine to the required temperature.
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Automotive Water Valves Market: Drivers and Challenges
Over the last decade, technological advancements in production, miniaturization and management systems have revolutionized the automotive industry. The automotive industry has witnessed significant growth opportunities in several emerging countries.
On an average, the automotive industry has seen satisfactory growth and is anticipated to witness healthy growth during the forecast period. It is expected that emerging economies will surpass the growth of the industry standard over the projected period.
This can be attributed to the stable economic conditions and inclination towards better standard of living, which in turn are predicted to reinforce the trade of automobiles and subsequently, augment the growth of the automotive water valves market.
The increasing number of automobiles has forced the implementation of several governmental norms, which are further augmenting the demand for automotive water valves. Furthermore, the adoption of automotive water valves allows the combustion system of an engine to run at low emission efficiently as they regulate the operating temperature and maintain the load conditions.
However, increasing competition and digitalization are not enough for success. Only those players that can develop innovative technologies are expected to create market value share in the automotive water valves market in the future.
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Global Automotive Water Valve Market: Segmentation
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Automotive Water Valve Market: Regional Overview
Among all the regions, China is expected to dominate the automotive water valve market, owing to the fact that the country is a major producer of automotive parts and components and thus, a major manufacturer of automotive water valves. Also, the easy availability of low-cost raw materials for automotive water valves and the abundant availability of economic labor will drive the automotive water valve market.
North America denotes a significant market share in the automotive industry and thus, the region is estimated to register robust demand in the automotive water valve market over the forecast period. The increasing inclination towards technically-developed product and cabin comfort is a key factor driving the trade of automotive water valves in Western Europe.
Emerging economies such as those in the Middle East and Africa and South East Asia & Pacific are estimated to witness robust growth as a result of the shift of automotive part manufacturing facilities to these regions and their improved economic conditions.
Further, European federal governments have integrated certain regulations regarding emission in their energy & climate program in order to maintain environmental and population safety, such as LCPD (Large Combustion Plant Directive) and TEHG (Greenhouse Gas Emission Trading Act), which in turn will augment the demand for automotive water valves in the global market over the projected period. Further, Japan has witnessed a significant decline in transport emission due to the implementation of stringent regulations.
These regulations were imposed by the government bodies of Japan due to the increasing ageing population. This is a result of the noteworthy adoption of automotive water valves in vehicles, which is stipulated to retain the same momentum in the coming years.
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Global Automotive Water Valve Market: Market Participants
Attributing to the presence of a vast number of local manufacturers, the automotive water valve market is a fragmented one and is expected to remain so throughout the forecast period. Examples of some of the market participants in the global automotive water valves market identified across the value chain include,
- Johnson Electric Holdings Limited
- MAHLE GmbH
- Rotex Automation
- VOSS Automotive GmbH
- Jaksa Solenoid Valves
- Bitron Industrie S.p.A
- Hanon Systems
- BorgWarner Inc.
- Woco Industrietechnik GmbH
- Vernet
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