- 24 October 2019 23:22
Automotive VVT System Market Growth Factors
According to Acumen Research Consulting the global automotive VVT system market is expected to reach around US$ 76,545 Mn by 2026 with a CAGR of above 4% over the forecast period 2019-2026.
Major factors expected to drive the growth of the global automotive VVT system market are developing automotive regulatory standards, stringent government policies related to fuel emission and approach towards increasing the power of engine with high fuel efficiency. In addition, increasing automotive passenger vehicles sale in developed and developing countries, manufacturers approach towards increase the over-all performance of the vehicle is resulting in increasing adoption of VVT system this is another factors expected to boost the growth of the target market.
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However, inclination towards adoption of electric vehicles is a major factors expected to hamper the growth of the target market. In addition, high maintenance cost and difficulty is manufacturing complex VVT systems are among other factors expected to challenge the growth of the target market.
Rising passenger vehicle sale in developing countries and integration in start-stop vehicles is expected to create new opportunities in term of revenue for players operating in the target market over the forecast period. In addition, business expansion through strategic activities is expected to further revenue support the target market growth.
Some of the major players operating in the global automotive VVT system market are Robert Bosch, Continental, Denso, Delphi, Hitachi, Borgwarner, Aisin Seiki, Valeo, Johnson Controls, and Mitsubishi Electric. The market players are focused on introduction of more advanced product at low cost in order to expand the product portfolio and attract new customers and increase their business presence through merger and acquisition.
Market By Product Type: Continuous VVT, Non-continuous VVT
By Application: Passenger Vehicle, Light commercial vehicle, Heavy commercial vehicle
By Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa