A new study published by Future Market Insights (FMI) has projected the global automotive brake valve market to exhibit an impressive 5.1% CAGR during the forecast period (2017-2022). Global sales of automotive brake valves are estimated to surpass US$ 4,500 Mn in revenues by 2022-end.
Suppliers witnessing Significant Rise in Brake Valve Sales in Aftermarket and Replacement Market
Numerous innovations in automotive brake valves have been witnessed including improved service life of components, adoption of advanced materials, and advancements in chassis and drivetrain technologies. One of the major trends that is currently gaining popularity in the global automotive brake valve market is increasing focus on developing vehicle-specific brake valves. Surging need for automotive fleet in road maintenance and repair activities, especially across developing economies, has led towards significant rise in replacement market & aftermarket sales for automotive brake valve suppliers. Growth of the automotive brake valves market has always been influenced directly by sales & production of vehicles across the globe.
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Investments in R&D Activities for Development of Advanced Brake Valves
Enormous investments are being made by research institution as well as automobile manufacturers in research and development activities associated with development of advanced brake valves. Their prime focus is enhancing the vehicle performance and catering to cost optimisation targets. In addition, integration of advanced vehicular configurations, sensors, composite materials, and control units into modern designs of braking systems have resulted into several developments in the automotive brake valves. For instance – Eaton Corporation Plc has introduced its new and high modular design of CLS Load Sense Sectional Mobile Valve, which offers functions such as load sense bleed-off, and pre- as well as post-compensated load sense relief.
Various advancements in braking systems have led toward development of advanced, effective, and efficient automotive brake valves. Some of these advancements include electronic stability control, anti-lock braking system (ABS), and dynamic stability control. While designing a vehicle, one of the primary concerns for automotive manufacturers is provision of braking systems which offer optimum efficiency.
- Key Research Findings from FMI’s Report on Automotive Brake Valves MarketThe global automotive brake valve market is anticipated to be dominated by Asia-Pacific excluding Japan (APEJ) throughout the forecast period, in terms of revenues. Europe will continue to be the second largest market for automotive brake valves, with sales estimated to exceed US$ 1,000 Mn in revenues by 2022-end. The market in North America is projected to exhibit the fastest expansion through 2022.
- Metering brake valves are expected to remain sought-after among products in the market. Nearly 30% of the market revenue share is projected to be accounted by sales of metering brake valves. In addition, sales of metering brake valves are poised to register the highest CAGR through 2022, followed by pressure-differential brake valves and combinational brake valves.
- Compact passenger cars will continue to be dominant in the global automotive brake valve market, followed by mid-sized passenger cars and light commercial vehicles. Sales of automotive brake valves for compact passenger cars are projected to account for over one-fourth revenue share of the market through 2022.
- Based on material type, steel and copper will remain preferred for manufacturing automotive brake valves. Revenues from automotive brake valves produced by using steel and copper will collective account for nearly two-third revenue share of the market over the forecast period.
- Aftermarket is anticipated to remain the largest sales channel for automotive brake valves, with sales estimated to reach approximately US$ 3,500 Mn in revenues by 2022-end. However, sales of automotive brake valves in OEM are projected to register the fastest expansion through 2022.
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Key market participants profiled by FMI’s report include Knorr-Bremse AG, FUJI OOZX Inc., Federal-Mogul Holdings Corp., Denso Corporation, Continental AG, Mahle Group, Hitachi Ltd., FTE Automotive GmbH, Eaton Corporation Plc, and Delphi Automotive PLC.