Automotive VVT System Market By Product Type (Continuous VVT, Non-continuous VVT), By Application (Passenger Vehicle, Light commercial vehicle, Heavy commercial vehicle) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026
The global automotive VVT system market size is expected to reach around US$ 76,545 million by 2026 with a CAGR of above 4% over the forecast period 2019-2026.
Automotive industry is experiencing a drastic change across the globe. Rising government regulation related to pollution, carbon footprints, and developing transportation sector is shifting manufacturers focus on development of advanced emission control system. Variable Valve Timing and Lift Electronic Control is an electronic and mechanical system that is able to increase the performance of the vehicle with improved engine efficiency. With VVT, it is possible to have the timing altered to match the engine speed, torque requirements, and valve overlap
Market Dynamics
Major factors expected to drive the growth of the global market are increasing automotive regulatory standards across the globe and manufacturer’s approach towards increasing the performance of the vehicle. Automotive industry flourishing across the globe and is witnessing a reasonable change in order to reduce the air pollution through vehicles. Manufacturers are focused on development of advanced technology that helps to achieve high power with low carbon emission.
In addition, increasing regulation related to environment pollution, governments initiatives to reduce carbon footprints from transportation sector is resulting in demand for VVT systems that aid in low fuel consumption and provide high output this another factor expected to further boost the growth of the target market.
Moreover, increasing passenger car production across the globe, coupled with deployment of VVT systems in passenger vehicles is expected to further support the growth of the target market.
However, high complexity and production cost associated to VVT system is a major factor expected to hamper the growth of the global automotive VVT systems market. In addition, high maintenance cost and low adoption of diesel engine vehicles is expected to further challenge the growth go the target market.
Technological advancements by major players and development of low cost product, along with rising diesel engine Product sale are factors expected to create new revenue opportunities for players operating in the target market over the forecast period. In addition, increasing merger and acquisition activities in order to increase customer base and product portfolio is expected to further revenue support the growth of the target market.
The automotive VVT system market in segmented in to product type and application. The product type segment is bifurcated into continuous VVT and Non-continuous VVT. The continuous VVT segment is expected to account for moderate revenue share. The application segment is bifurcated in to Passenger Vehicle, Light commercial vehicle, and Heavy commercial vehicle. The passenger vehicle is expected to witness significant revenue growth due to increasing passenger vehicle sale in developing countries, coupled with demand of improved fuel efficiency with high power and torque.
Segment Analysis by Region
The market in North America is expected to account for significant revenue share in the target market owing to increasing government regulations related to pollution control, and presence of major manufacturers operating in the country in this region. Government is implementing various regulations in order to control the pollution through vehicles and reduce environmental impact. Manufacturers are developing various component and systems in order to reduce the rising pollution through transportation sector.
The market in Asia Pacific is expected to witness faster growth this can be attributed to increasing passenger Product sale in developing economies. In addition, increasing spending capacity among consumers, along with demand for passenger vehicles with advanced features and system that are fuel efficient is expected to increase demand for VVT systems thus driving the growth of the target market in this region.
- According to Society of Indian Automobile Manufacturers, the sale of Passenger Vehicles grew by 2.70% in April-March 2019 over the same period last year. Within the Passenger Vehicles, the sales of Passenger Cars, Utility Vehicle & Vans grew by 2.05%, 2.08% and 13.10% respectively in April-March 2019 over the same period last year.
Moreover, manufacturers focus towards passenger vehicles that are energy efficient and provide high power is another factor expected to support the growth of target market in this region.
Competitive Landscape
The competitive scenario of the automotive VVT systems market is moderate as there is limited presence of players operating in the target market. In addition, players are constantly trying to increase their presence through strategic partnerships and mergers in order to increase customer base which is expected to increase the competition.
Report coverage
|
Market |
Global Automotive VVT System Market |
|
Analysis Period |
2015 – 2026 |
|
Base Year |
2018 |
|
Forecast Data |
2019 – 2026 |
|
Market Stratification |
Product Type, Application, and Geography |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
|
Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
The market research study on “Automotive VVT System Market (Product Type: Continuous VVT and Non-continuous VVT; Application: Passenger Vehicle, Light commercial vehicle, and Heavy commercial vehicle) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”, offers a detailed insights on the global automotive VVT system market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global automotive VVT system market, its product type segment, application segment, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global Automotive VVT System market size and segment markets by product type, application, and geography along with the information on companies operating in the market. The automotive VVT system market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report include Robert Bosch, Continental, Denso, Delphi, Hitachi, Borgwarner, Aisin Seiki, Valeo, Johnson Controls, and Mitsubishi Electric.
Market Segmentation
Market By Product Type
- Continuous VVT
- Non-continuous VVT
Market By Application
- Passenger Vehicle
- Light commercial vehicle
- Heavy commercial vehicle
Market By Region
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest if Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Meddle East & Africa
Frequently Asked Questions
What is VVT?
Variable Valve Timing is an electronic system that is able to increase the performance of the vehicle with improved engine efficiency.
Which factor curbs the growth of automotive VVT system market?
Factors such as increasing automotive regulatory standards across the globe and manufacturer’s approach towards increasing the performance of the vehicle restrain the automotive VVT system market growth.
How much is the automotive VVT system market size?
Recent Study by Acumen Research and Consulting, the automotive VVT system market size is anticipated to be worth around US$ 76,545 million in 2026.
What will be the growth rate of automotive VVT system market during the forecast period 2019 to 2026?
The automotive VVT system market is anticipated to grow over 4% CAGR during the forecast period 2019 to 2026.
Which region held the maximum share for the automotive VVT system market?
North America held maximum share in 2018 for automotive VVT system market.
Which application segment witness significant revenue for the automotive VVT system market?
The passenger vehicle is expected to witness significant revenue growth.
Which are the Product Type of automotive VVT system market?
There are two products types of automotive VVT system market such as continuous VVT and non-continuous VVT.
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