Market Size in 2023 | Market Forecast in 2032 | Growth Rate (in %) | Base Year |
---|---|---|---|
USD 65.25 Billion | USD 117.95 Billion | CAGR at 6.80% | 2023 |
According to the report published by Zion Market Research, the global VVT Actuators Market size was valued at USD 65.25 Billion in 2023 and is predicted to reach USD 117.95 Billion by the end of 2032. The market is expected to grow with a CAGR of 6.80% during the forecast period. The report analyzes the global VVT Actuators Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the VVT Actuators Market industry.
With the help of the VVT actuators, the following mechanisms are enabled forwarding or delaying the valve timings and also changing or overlapping, or even lifting valves in some application areas. The VVT actuators provide control over the valve timings, improve fuel efficiency, and minimize emission by adjusting the closing and opening time of the exhaust and the intake valve according to the requirement of the driving condition.
The global market for VVT actuators is fragmented into the placement side, implementation method, and end-use application.
On the basis of the placement side, the global market is segregated into the exhaust side, the intake side, and others.
On the basis of implementation method, the market is categorized into cam phasing, eccentric cam drive, two shafts combined cam lobe profile, helical camshaft, cam switching, oscillating cam, three-dimensional cam lobe, coaxial two-shaft combined cam lobe profile, and camless engines.
On the basis of the end-user applications, the market is bifurcated into automotive, marine, aerospace & avionics, and others.
The key factor that is driving the VVT actuators market is the developing automation in the automobile industry. The automobile market will grow at a good rate across the world owing to the increasing disposable income. The focus has been increased on improving fuel efficiency and including automation for quality control is fuelling the demand for VVT actuators. The other factor that is favoring the growth of the market is that in some of the regions the installation of VVT actuators in passenger automobiles is being made compulsory thus triggering the growth of the market. The factor that is hampering the growth of the VVT actuators market is the high cost of the product.
Report Attributes | Report Details |
---|---|
Report Name | VVT Actuators Market Research Report |
Market Size in 2023 | USD 65.25 Billion |
Market Forecast in 2032 | USD 117.95 Billion |
Growth Rate | CAGR of 6.80% |
Number of Pages | 196 |
Key Companies Covered | Camcraft, Inc., Mikuni American Corporation, Autorun, Delphi Automotive LLP, Mitsubishi Electric Corporation, Metal Seal Precision, Ltd., Zhejiang DiMa Vehicle Industry Company, and GOGO Automatic Company Ltd. |
Segments Covered | By placement side, By implementation method, By end-use application and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
The geographical diversification of the global VVT actuators market includes Asia Pacific, North America, the Middle East, Africa, Eastern Europe, Latin America, and Western European regions. The region that is dominating the VVT actuators market in North America.
The factors that contribute to this growth are the implementation of the most advanced technologies in vehicle automation and the early adoption of the technology. The other region that is also contributing a good share in the market is Europe owing to the presence of some of the most popular car manufacturers in this region thus increasing the demand for VVT actuators. Most of the buses and passenger cars in the European regions come equipped with VVT actuators which promote fuel efficiency.
As there is an increased demand for the cars in Asia Pacific region the market is growing significantly in this region. The major demand for VVT actuators in the Asia Pacific region comes from emerging nations such as China and India. Owing to similar facts the VVT actuators market will grow at a significant pace in Latin America and the Middle East and African regions.
The key market players that are involved in the VVT actuators market include:
By placement side
By implementation method
By end-use application
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