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The Automotive Brake Valve Market, valued at USD 12.15 Billion in 2023, is projected to reach USD 20.52 Billion by 2031, exhibiting a healthy CAGR of 6% throughout the forecast period.
Market Report Scope
The global automotive industry is witnessing a surge in demand for advanced braking systems like Anti-lock Braking Systems (ABS) and Electronic Stability Control (ESC) due to mandatory regulations like the European Union’s UNECE Regulation No. 13 (UN R13). This trend is expected to propel the demand for sophisticated brake valves, leading to a steady CAGR of 4.5-5% until 2031.
Another significant growth driver is the burgeoning electric vehicle (EV) market. Despite the implementation of regenerative braking in EVs, conventional hydraulic systems with intricate valves remain crucial for ensuring safety and driver control. Furthermore, government initiatives like China’s substantial investment of ¥300 billion (USD 44 billion) in 2023 for constructing EV charging stations indirectly stimulates demand for next-generation brake valves. Additionally, the rising production of both passenger cars and commercial vehicles globally will sustain a robust replacement market for brake valves.
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Major Key Players of Automotive Brake Valve Market:
- Continental AG
- Hitachi Ltd.
- WABCO
- Delphi Automotive
- Denso Corporation
- Knorr-Bremse AG
- WABCO
- Eaton Corporation Plc
- Sundoz Co. Ltd
- Alfmeier precision SE
- Federal-Mogul Holdings Corp.
- MAHLE GmbH
- EBS Aftermarket Group Limited
- Poclain Hydraulics
Segment Analysis
By Product Type:
- Engine (inlet and outlet) valves
- A/c valve
- Brake valve
- Thermostat valve
- Fuel system valve
- Solenoid valve
- Exhaust gas recirculation valve
- Tire valve
- Water valve
- AT control valve
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By Product Type
The market is segmented into Engine (inlet and outlet) valves, A/c valves, Brake valves, Thermostat valves, Fuel system valves, Solenoid valves, Exhaust gas recirculation valves, Tire valves, Water valves, and AT control valves. Engine valves are expected to hold the dominant share for the next five years. However, the solenoid valve market is projected to register the fastest growth rate due to the increasing prevalence of electric vehicles.
By Vehicle Type:
- Passenger cars
- LCV
- HCV
By Vehicle Type
Light commercial vehicles (LCVs) are anticipated to capture a significant share of the market exceeding 41.6% in 2023. The burgeoning logistics and e-commerce sectors are driving the demand for LCVs, consequently propelling the LCV brake valve market. Furthermore, the shift towards electric mobility fueled by leading corporations adopting EVs is further escalating the demand for LCVs. Major manufacturers are collaborating with key players to offer a variety of solutions to facilitate the transition of conventional LCVs to electric versions during the forecast period.
By Application:
- Engine System
- HVAC System
- Brake System
- Others
By Application
The market is categorized into Engine systems, HVAC systems, Brake systems, and Others. Engine system valves currently hold the largest share, and this trend is anticipated to continue throughout the forecast period. The HVAC system valve market is projected to exhibit the fastest growth rate, followed by the brake system and other application segments.
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War and Slowdown Disrupt Automotive Brake Valve Market
The Russia-Ukraine war and potential economic slowdown pose challenges for the automotive brake valve market. Wartime sanctions and export restrictions disrupt supply chains, raising steel and aluminum prices, critical brake valve materials. The chip shortage is further aggravated, hindering vehicle production and brake valve demand. Economic uncertainty dampens consumer confidence, potentially leading to fewer vehicle sales and a decline in replacement brake valve demand.
The Asia-Pacific region holds dominant position in the automotive brake valve market, driven by its dominance in global vehicle production and fleet size. This region is expected to maintain its leadership position throughout the forecast period. Europe and North America are anticipated to exhibit significant growth rates during 2024-2031, primarily due to the presence of established automotive manufacturers and a strong focus on technological advancements.
Advancements in Braking Systems
- In March 2023, ZF introduced advanced brake-by-wire solutions for heavy-duty vehicles, highlighting the focus on improved braking systems across various segments.
- June 2023 saw Continental and Nisshinbo establish a joint venture plant for valve block production, aiming to localize electronic brake systems and potentially reduce import reliance, leading to a more cost-efficient supply chain.
Key Takeaways “Unveiling Opportunities in the Automotive Brake Valve Market”
- Gain a clear understanding of the market’s growth drivers, including stringent safety regulations and the booming electric vehicle sector.
- Discover the opportunities presented by the increasing adoption of sophisticated braking systems like electronic stability control.
- The report highlights Asia-Pacific’s dominance due to its massive production base, it also reveals the significant growth potential in Europe and North America.
- The report sheds light on the challenges posed by the Russia-Ukraine war and potential economic slowdowns, emphasizing the importance of resilient supply chains.
- The report highlights the introduction of brake-by-wire solutions and the establishment of joint ventures for valve block production, signifying an industry focused on advanced technologies and cost-effective manufacturing.
Table of Content- Major Key Points
- Introduction
- Research Methodology
- Market Dynamics
- Impact Analysis
- Value Chain Analysis
- Porter’s 5 forces model
- PEST Analysis
- Automotive Brake Valve Market, By Product Type
- Automotive Brake Valve Market, By Vehicle Type
- Automotive Brake Valve Market, By Application
- Regional Analysis
- Company Profiles
- Competitive Landscape
- Conclusion
Continue….
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