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Automotive VVT System Market To 2026 Excellent Quality, Versatility, And Range Of Potential Applications

02.24.2020 · Posted in Writing and Speaking

Automotive VVT System Market

According to a new market report published by Transparency Market Research, “Automotive VVT system Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026” expanding at a CAGR of nearly 4% during the forecast period and is expected to reach US$ 52 Bn by 2026.

The global automotive VVT system market is expected to expand at a CAGR of nearly 4% between 2018 and 2026, according to a new research report by Transparency Market Research (TMR). According to the report, the global market is expected to be influenced by a range of economic, technical, political, social, and industry-specific factors.

Latin America is likely to witness an increase in demand for VVT systems, with the market in the region anticipated to expand at a CAGR of 5% during the forecast period. The primary reason for the same is the recent rise in production of passenger and commercial vehicles in counties of Latin America. Latin America is likely to be less hampered by battery electric vehicles, as the adoption of BEVs is not prominent in the region.

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Around 28% of the total global emission of greenhouse gas is contributed by the transportation industry. This emission leads to the increase of respiratory disorders among individuals. Global bodies have enacted stringent carbon emission norms on vehicle emission to avoid such cases of deteriorating human health, lower the carbon emitted by vehicles, and enhance IC engine life. VVT systems help vehicles comply with such norms and hence, is expected to propel the overall automotive VVT system market. Development of battery electric vehicles is a cause of rising global carbon footprint, which is expected to hamper the IC engine vehicles market during the forecast period.

Thus, it is likely to impact the demand for VVT systems. China 5 and Euro 5 standards are similar in context of the norms to moderate vehicle emission. New vehicles sold through January 2017 were implemented with China 5 standard for gasoline engine, and it is expected to apply to diesel engines since January 2018. China certified real-driving emissions inspection model based on the EU RDE guidelines with a few improvements. The VVT system helps an engine to incorporate such alterations in order to fulfil the norms.

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In 2017, a major share of the global automotive VVT system market was held by Asia Pacific. Increase in demand and production of vehicles is likely to propel the automotive VVT system market in the region. Furthermore, the rise in demand for environment-friendly vehicles (lesser emission vehicles) in some prominent countries in Asia Pacific such as China and Japan have led the rise in demand for VVT systems in the region. A major factor boosting the VVT system market in Europe at a moderate pace is the increase in the production and export of passenger cars running on IC engines from the countries such as Germany.

The global automotive VVT system market is fragmented due to the presence of high-scaled and larger capital manufacturers. A major share of the global automotive VVT system market is held by OE manufacturers, as they are in large numbers. Major players operating in the global automotive VVT system market include Federal-Mogul LLC, Johnson Controls, Inc., Mitsubishi Electric Corporation, Aisin Seiki Co. Ltd., Eaton Corporation, BorgWarner Inc., Schaeffler AG, Robert Bosch GmbH, Honda Motor Co., Ltd., Camcraft, Inc., Hitachi Automotive Systems, Mikuni American Corporation, DENSO Corporation, and Toyota Motor Corporation.

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