Global Variable Valve Timing (VVT) Market Research Report - Forecast till 2025

Global Variable Valve Timing (VVT) Market Research Report - Forecast till 2025

Market Overview

Global Variable Valve Timing (VVT) Market is accounted to surpass USD 50.79 Billion by 2025 and register 6.35% CAGR. The variable valve timing is used to improve the movement of the opening and closing of valves at multiple engine speeds. It enhances the performance of the vehicle, reduces emission, and offers smooth idling and maximum power at low and high RPM respectively. The strict government policies in developed countries and the rising demand for improved fuel economy and vehicle performance are expected to fuel the global VVT market during the study time.
The Global Variable Valve Timing (VVT) Market is witnessing considerable growth, owing to the presence of many small and large companies that are developing and manufacturing VVT. The rising demand for fuel-efficient vehicles, increasing development in fuel technologies of engines, and expanding sales of passenger cars are evaluated to propel the growth of the passenger vehicle sector in the global market during the review period. However, the growth of the market is expected to be restrained by the growing adoption of electric vehicles.
Market Segmentation
Global Variable Valve Timing (VVT) Market has been categorized based on Technology, Valve Train, Vehicle Type, Fuel Type, and Region. By the technology segment, the global variable valve timing (VVT) market is segregated into cam-phasing, cam-phasing plus changing, and others. In terms of the valve train, the global variable valve timing (VVT) market is sub-ed into DOHC and SOHC. By vehicle type, the market is divided into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. A passenger vehicle is estimated to dominate the market share. Depending on the fuel type, the global variable valve timing (VVT) market is segregated into gasoline and diesel.
Regional Analysis
The geographical analysis of the global variable valve timing (VVT) market is classified into North America, Asia-Pacific, Europe, and the Rest of the World.
The North American market of VVT is spread across the US, Canada, and Mexico. The VVT market in North America is estimated to witness substantial expansion owing to the increase in the demand for automobiles, especially in the US. The regional market growth is attributed to the growing demand for vehicles stringent government regulations to control emissions causing due to vehicles.
Asia-Pacific is accounted for a substantial share in the global variable valve timing market owing to the increasing automobile industry in the region, rapid industrialization, rising per capita expenditure and initiatives to enhance FDI and low production costs. The market spans across China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific. European VVT market is segmented across Germany, France, the UK, Italy, Spain, Austria, and the rest of Europe. The European government is planning to obtain a 20% reduction in emissions by 2020.
Major Players
The prominent Players of the Global Variable Valve Timing (VVT) Market are DENSO CORPORATION, Hitachi, Ltd, BorgWarner Inc., Schaeffler Technologies AG & Co. KG, AISIN SEIKI Co., Ltd, Eaton, Mitsubishi Electric Corporation, Delphi Auto Parts, Hilite International, Inc., Husco International, and Sumitomo Electric Industries, Ltd.
COVID 19 Impacts
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