Automotive VVT System Market Size to Cross USD 102.39 Bn by 2032

The global automotive VVT system market size surpassed USD 66.57 billion in 2023 and is expected to reach USD 102.39 billion by 2032, with a CAGR of 4.9% from 2023 to 2032.

Key Points

• Asia Pacific led the market with the biggest market share in 2022.
• By Valve Train, the Double Overhead Cam(DOHC) segment has held the largest market share in 2022.
• By Vehicle Type, the Passenger vehicle segment generated over 65% of revenue share in 2022.

An automotive Variable Valve Timing (VVT) system helps in prolonged engine life as it improves the fuel economy, performance, and emission. The VVT system enriches engine process, enhances combustion, improves engine power, reduces emission, and also reduces fuel consumption. They help to improve the emission regulator system; additionally it minimizes ignition glitches in the spark plug that are likely to stimulate some serious drivability issues. Automotive VVT system also allows the application of smaller engines for achieving the same performance. The aforementioned factors expected to propel the demand for automotive VVT systems magnificently during the forecast period. Some of the components used in the VVT system include timing belt, CAM, timing solenoid, ECU, timing idler/pulley, and actuators.

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Growth Factors

Rising emission of harmful gases such as methane and carbon dioxide has degraded the environment, thus government of various regions has regulated the emission standard for vehicles. In the wake of same, VVT system experience lucrative growth in the coming years. The VVT system helps in changing the timing of the valve for Internal Combustion Engine (ICE) and reduces the overall carbon emission from the vehicle. However, a shift in consumer trend for adoption of battery-powered and other environment-friendly mode of transportation directly impact the market for ICE, thereby restricts the growth of VVT system. Meanwhile, integration of IC and battery for enhancing the vehicle performance create new opportunities for the VVT system during the forecast period.

Automotive VVT System Market Scope

Regional Snapshots

The Asia Pacific encountered promising growth in the global automotive VVT system market and held considerable market value share in the year 2019. The region has many developing and developed countries with huge population, thereby evoking the need for advanced transportation facility. In the wake of same, passenger vehicle sale experience exponential sale and therefore fuelling the growth of VVT system in the region. In addition, stringent norms issued by regulatory bodies for emission of harmful gases from a vehicle again propel the growth of automotive VVT system in the coming years.

Report Highlights

• In 2019, the Asia Pacific held substantial revenue share in the global automotive VVT system market and predicted to grow at a considerable rate over the forecast period. Increasing demand for fuel-efficient vehicles especially in China, India, Japan, Australia, South Korea, and other Asian countries contribute as the prime factor for the regional growth.
• Europe and North America are the other significant revenue contributors to the global automotive VVT system market. Increasing demand for advanced passenger vehicles with necessary changes related to safety and fuel economy is the major factors responsible for the significant growth of the regions.
• Based on valve train, Double Over Head Cam (DOHC) dominated the global automotive VVT system market and anticipated to grow at a significant rate over the analysis period. The DOHC has double inlet and exhaust valves compared to SOHC that makes the engine cooler. This helps the engine to make less noise, run smoothly, and provide superior performance. This in turn, fuels the growth of the segment.
• By vehicle type, passenger vehicle expected to dominate the global automotive VVT market and accounted to more than 65% value share. Continuous rise in the sale and production of passenger vehicle across the globe are the major factors supporting the prominent growth of the segment.

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Key Players & Strategies

The global automotive VVT system market is dominated by the presence of regional players for aftermarket and particular application segment. Major players operating in the market are very few as the manufacturing process of the VVT system is complicated and expensive. There are numerous regional players involved in manufacturing different components of VVT system. Moreover, product enhancement, research & development, merger & acquisition are the main strategies adopted by the market players to strengthen their position. For instance, in March 2019, BorgWarner launched the intelligent Cam Torque Actuation (iCTA), a next generation of cam torque actuators that deliver better efficiency compared to other reduce emission significantly using its innovative technology. iCTA is an integration of torsional assist (TA) and cam torque actuation (CTA) phaser technologies. Similarly, in December 2018, DENSO Corporation and Aisin Seiki Co., Ltd. collaborated together to establish a new company that mainly focuses on the development and sale of driving modules for electric vehicles.