New York, United States, March 20, 2023 (GLOBE NEWSWIRE) -- Global Variable Valve Timing Market to Exceed $92.12 Billion By 2030
According to a research report published by Spherical Insights & Consulting, The Variable Valve Timing Market Size is to grow from USD 59.36 Billion in 2021 to USD 92.12 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6.49% during the forecast period. Many of the key reasons driving the variable valve timing market expansion are the increasing hybridization of new vehicles, demands to enhance fuel efficiency and vehicle performance, and stringent pollution standards in both developed and emerging countries.
Global Variable Valve Timing Market Insights Forecasts to 2030
- The Global Variable Valve Timing Market Size was valued at USD 59.36 Billion in 2021
- The Global Variable Valve Timing Market Share is growing at a CAGR of 6.49% from 2022 to 2030
- The Worldwide Variable Valve Timing Market Size is expected to reach USD 92.12 Billion by 2030
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Variable Valve Timing, or VVT, is a technique that varies the timing of a valve lift event in internal combustion engines to improve performance, fuel economy, or carbon emissions. The increasing use of passenger and commercial vehicles is increasing vehicular emissions around the world, making it a critical concern to create automobiles with efficient fuel systems. Rising global demand for fuel-efficient automobiles, which is likely to boost the market significantly throughout the forecast period, is significantly helping market expansion. However, the higher maintenance costs are also a big issue for VVT users, as the after-market supply of variable valve timing systems is restricted.
Browse key industry insights spread across 190 pages with 130 market data tables and figures & charts from the report on the "Global Variable Valve Timing Market Size, Share, and COVID-19 Impact Analysis, By Phaser Type (Hydraulic Cam Phaser, Electric Cam Phaser), By Technology (Cam-Phasing, Cam-Phasing & Changing), By Vehicle Type (Passenger Vehicle, Commercial Vehicle) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/variable-valve-timing-market
The hydraulic cam phaser segment dominated the market with the largest share over the forecast period.
Based on phaser type, the Global Variable Valve Timing Market is segmented into hydraulic cam phaser and electric cam phaser. Among them, the hydraulic cam phaser segment dominated the market with the largest share over the forecast period. The hydraulic cam phaser is one of the most common types of phasers. In contrast, the electric cam phaser type market is predicted to grow fast during the forecast period.
The cam-phasing segment is witnessing significant CAGR growth over the forecast period.
On the basis of technology, the Global Variable Valve Timing Market is segmented into cam-phasing and cam-phasing & changing. Among these, the cam-phasing segment is expected to grow at a significant CAGR during the forecast period. The cam-phasing variable valve timing approach is the most common, least expensive, and most widely used. Cam-phasing VVT systems are also more affordable than other varieties, which contributes to their popularity in the Asia-Pacific area.
The passenger vehicles segment is dominating the market with the largest market share of 53% over the forecast period.
Based on vehicle type, the Global Variable Valve Timing Market Growth is segmented into passenger vehicles and commercial vehicles. Among these, the passenger vehicle category dominates the market with a 53% market share throughout the projected period, owing to the quick adoption of variable valve timing in passenger vehicles, which is faster than in LCVs and HCVs.
Variable Valve Timing Market Report Scope: -
| Report Metric | Details |
| Market Size 2030 | USD 92.12 Billion |
| CAGR | 6.49% (2020-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Segments Covered | By Phaser Type, By Technology, By Vehicle Type, By Region, And COVID-19 Impact Analysis |
| Report Coverage | Drivers, Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, the Middle East, Africa and Rest of the World |
| Key Companies Profiled/Vendors | Mitsubishi Electric Corporation, Hilite International, Camcraft, DENSO CORPORATION, Hitachi Ltd., Sumitomo Electric Industries, Ltd., Toyota Motor Corporation, BorgWarner Inc., Schaeffler Technologies AG & Co. KG, Eaton Corporation PLC, Maruti Suzuki, Maxwell Ultracapacitors, Perodua, Aisin Seiki Co. Ltd., |
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Asia Pacific is dominating the market with the largest market share of 54%.
Asia Pacific is expected to remain the industry's leading region during the forecast period, with a 54% market share, owing to the increasing automotive production in Japan, China, and India. Leading automotive businesses are investing extensively in research and development in order to acquire OEMs with techniques that enhance engine performance and fuel economy. Demand in India is rapidly increasing as a result of the rising demand for diesel-powered vehicles, resulting in a substantial market for variable valve timing systems for diesel engines in the country.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the Global Variable Valve Timing Market based on the below mentioned segments:
Global Variable Valve Timing Market, By Phaser Type
- Hydraulic Cam Phaser
- Electric Cam Phaser
Global Variable Valve Timing Market, By Technology
- Cam-Phasing
- Cam-Phasing & Changing
Global Variable Valve Timing Market, By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
List of Market Top Players
- Mitsubishi Electric Corporation
- Hilite International
- Camcraft
- DENSO CORPORATION
- Hitachi Ltd.
- Sumitomo Electric Industries, Ltd.
- Toyota Motor Corporation
- BorgWarner Inc.
- Schaeffler Technologies AG & Co. KG
- Eaton Corporation PLC
- Maruti Suzuki
- Maxwell Ultracapacitors
- Perodua
- Aisin Seiki Co. Ltd.
- Husco International
- Delphi Auto Parts
- Metaldyne Sintered Products
- Johnson Electric
- Valeo S.A.
- Honda Motor Co., Ltd.
- Continental AG
- Mikuni American Corporation
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Key Market Developments
- In May 2022, Toyota announced the launch of the 2023 Highlander receiving a new, higher-torque, high-efficiency turbocharged engine. The 2023 Highlander Hybrid, offered in both FWD and AWD, combines a high-efficiency 2.5-liter DOHC four-cylinder engine with two electric motor-generators. The gas engine employs a Variable Valve Timing-intelligent system by an Electric motor (VVT-iE) on the intake camshaft, and VVT-i on the exhaust camshaft.
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