Newark, Sept. 06, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global automotive VVT & start-stop system market is expected to grow from USD 48.2 billion in 2021 to USD 103.8 billion by 2030, at a CAGR of 8.9% during the forecast period 2022-2030.
The automatic mechanism to start & stop the vehicles at short intervals, like when in traffic, to save fuel and reduce emissions, is called automotive VVT & start-stop systems. The system automatically switches off the engine when it is idle or put in neutral when it stops, and it automatically starts when the user pushes the clutch pad or releases the brake pad. This function can be disabled manually at the user's convenience.
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The increasing fuel prices have led to the rising demand for hybrid vehicles, considered more fuel-efficient. A similar increase in the production volume of hybrid vehicles is anticipated to drive the demand for automotive VVT & start-stop systems. The rising concern about climate change has led to the adoption of environment friendly & sustainable policies by governments that encourage the production & consumption of hybrid vehicles. This political development will significantly positively impact the automotive VVT & start-stop system market. The increasing number of start-stop cycles owing to this automotive VVT system wear down the engine. The wear & tear of the engine demands regular & proper maintenance, which is expensive. The failure to do so leads to the reduction in engine lifespan, which is again a loss of potential capital. These factors could hamper the growth of the market. The increase in demand for electric vehicles is likely to pose a challenge as automotive VVT & start-stop systems find their applications in conventional vehicles.
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An increase in the demand for hybrid vehicles in the developing economies attributed to the increase in disposable income of the population & rising fuel prices will contribute to the growth of the automotive VVT & start-stop system market. Hybrid vehicles will dominate the automotive market in the coming years as they are more fuel-efficient & thereby reduce emissions. Government subsidies & incentives provided for the production & consumption of hybrid vehicles encourage fuel-efficient technologies such as automotive VVT & start-stop systems.
Key players operating in the global automotive VVT & start-stop system market are:
• Robert Bosch GmbH
• BorgWarner, Inc.
• Continental AG
• Hitachi, Ltd.
• Aisin Seiki Co., Ltd.
• DENSO Corporation
• Johnson Controls International PLC
• Valeo S.A
• Mitsubishi Electric Corporation
• APTIV PLC
To enhance their market position in the global automotive VVT & start-stop system market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In September 2021, Continental AG, a major market player in the automotive VVT & start-stop system market, announced a joint venture with Horizon Robotic. The venture aims to increase the pace of commercialization of automotive artificial intelligence technology. The focus is on the Chinese market.
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The passenger vehicle segment dominated the market, with a market value of around 25.54 billion in 2021.
The vehicle use segment can be divided into passenger vehicles, light commercial vehicles & heavy commercial vehicles. The passenger vehicle segment dominated the market, with a market value of around 25.54 billion in 2021. The increasing demand for passenger vehicles has contributed to the dominance of this segment in the market.
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Regional Segment Analysis of the Automotive VVT & Start-Stop System Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, & the Rest of Europe)
• Asia-Pacific (China, Japan, India, & the Rest of Asia Pacific)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of the Middle East and Africa)
Among all regions, the Asia-Pacific region emerged as the largest market for the global automotive VVT & start-stop system market, with a market share of around 36.4% in 2021. The Asia Pacific is expected to be the largest market during the forecast period. China dominates the automotive VVT & start-stop system market in the Asia Pacific. The increasing demand for vehicles in the developing economies, which is catered by these economies' equally rising production capacity, contributes to the growth of the automotive VVT & start-stop system market. China is the world's leading automobile manufacturer, intending to reduce carbon emissions by improving fuel efficiency; the Chinese market is shifting towards the manufacture of hybrid vehicles. Increasing infrastructure development is making India an ideal choice for automobile manufacturing. In addition to these, the favorable government policies for the manufacture of hybrid vehicles will help this region maintain its dominance in the global automotive VVT & start-stop system market during the forecast period.
About the report:
The global automotive VVT & start-stop system market is analyzed based on value (USD Billion). All the segments have been analyzed globally, regional and country basis. The study includes the analysis of more than 30 countries for each piece. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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