Gearbox Valves Market is expected to grow at between CAGR 4% to 5% by value during 2021 to 2031
As per the ongoing study, the gearbox valves market is anticipated to exhibit promising growth over 4% to 5% during 2021-31. Gearbox contains gear train or mechanical unit which alters the speed of the driving device in transmission vehicles. Basically, this component helps the driver to change gears of the vehicle while driving any type of passenger car or heavy duty machinery.
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What is Driving Demand for Automotive Gearbox Valves?
Gearbox gives an advantage to vehicle through a series of gears that contains spiral gears which are supported by different element bearings and shafts. These valves are actuators that helps in reducing the torque of the vehicle which is useful while changing the gears in transmission vehicles. Growth in the manufacturing and sales of passenger cars in developed market is driving the growth of the market.
Many manufacturers are providing different types of gearbox valves that are robust and lightweight. These valves are generally made from cast-iron and stainless steel that are fire protected and durable. Manufacturers are developing a range of multiple valves for automatic transmission vehicles that can be rotated to 90 degree rotation in the vehicle.
The replacement market for these valves is also increasing due to increase in online sales of car transmission valve gearbox on E- commerce platforms. The suppliers selling gearbox offer warranty for unlimited kilometers for all types of vehicles which is enhancing the aftermarket for gearbox valves in the market. It is very important that these valves are functioning smoothly as it helps the driver to move the gears of the car which is accelerating the growth of the aftermarket for these parts.
US and Canada Gearbox Valves Market Outlook
US is one of the largest markets for gearbox valves globally. The automotive industry experienced a slump in 2020 due to pandemic and that has affected the sales of new vehicles in the region. As the market is slowly gaining traction, the automotive industry is also recovering from the losses and is most likely to rebound to pre- covid sales till 2023.
Automotive valves manufacturers in the US are focusing on increasing their production levels of gearbox that have a wide range of vehicle applications in industrial sector as well. The manufacturers make gearbox valves and offer wide range of sizes and torque capabilities which is accelerating the growth of the market in US and Canada.
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How is the Demand in Europe for Gearbox Valves?
Europe market is one of the high growing automotive market on a global level. Germany is one of the largest car producer in the world and exports cars to other European countries.
The demand of gearbox valves is booming with the increase in vehicle production in Europe. Many manufacturers like Rheinmetall, Rotork and many others produce these valves for automotive as well as industrial applications. The demand for valves in booming as the manufactures use different materials like aluminum, stainless steel and cast iron to make the gearbox.
Who are the Key Manufacturers and Suppliers of Gearbox Valves?
Some of the leading manufacturers and suppliers of Automotive Gearbox Valves include
- Johnson Electric Group
- Hitachi Ltd
- Continental AG
- Denso Corporation
- Eaton Corporation PLC
- Delphi Automotive
- Robert Bosch
- Valeo
- Others.
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