Market Overview:
The global market report on the automotive brake valve market reveals that there is a possibility for the market to cross a valuation worth USD 5 billion during the forecast period covering 2019 to 2025. Market Research Future (MRFR) declared that the market stands to register a CAGR of 5% during the forecast period of 2019 to 2025.
During this period, the market will gain from factors like rising inclusion of technologies in the automotive sector, surging demand for better safety measures, imposing government measures, and others are expected to boost the global market. In addition, the market would gain from collaboration and hike in investment for the research sector.
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Drivers: Automotive Brake Valve
Market Research Analysis
In terms of region, the global market for the automotive brake valve is segmented into Europe, North America, Asia-Pacific, and the rest of the world. Asia-Pacific is estimated to hold the highest market share during the forecast period owing to stringent government regulations for vehicle and pedestrian safety. The rate of adoption of automotive brake valves across the region has witnessed tremendous growth over the last few years.
North America and the rest of the world are expected to register substantial growth in the automotive brake valve market during the forecast period owing to increasing commercial vehicle production, longer lifespan of vehicle, and maintenance and repair of vehicles.
In Europe, the presence of Germany, which is the largest automotive brake valve market, and the UK and Italy, which are other major countries are contributing to the growth of the market in the region.
Market Segmentation:
The study covering details of the global automotive brake valve market reveals segments based on vehicle type, material type, product type, and sales channel. MRFR analysts used these to gather information, which can then help in the proper charting of routes.
By product type, the study of the global automotive brake valve market includes segments like pressure differential, metering, hydraulic, combinational, proportionating, and others. The pressure differential segment has the opportunity to take charge of the global automotive brake valve market.
By material type, the review of the global automotive brake valve market includes segments like copper, brass, steel, and others.
By vehicle type, the discussion on the global automotive brake valve market includes a proper analysis of light commercial vehicles, passenger cars, and heavy commercial vehicles. The passenger car segment is witnessing substantial growth.
By sales channel, analysts have discussed the global automotive brake valve market on the basis of OEM and aftermarket.
Regional Analysis:
Increasing fleet size, rising production of vehicles, and impact of the transportation sector are expected to help Asia Pacific retain its market dominance in the coming years. China, South Korea, Japan, India, and others will provide the needed thrust to the market.
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Competitive Landscape:
Sundoz Co., Ltd (Taiwan), MAHLE GmbH (Germany), Knorr-Bremse AG (Hungary), WABCO (Belgium), Federal-Mogul Holdings Corp. (USA), EBS Aftermarket Group Limited (UK), Alfmeier precision SE (Germany), Continental Automotive GmbH (Germany), Eaton Corporation Plc (Ireland), and Poclain Hydraulics (France) are companies with significant market coverage. This is happening as these companies are investing much in tactical moves to gain more from the automotive brake valve market. Merger, tie-up, innovation, investment for research, acquisition, and others are some methods that are in use to give individual companies some mileage in the market. As a whole, the market stands to profit significantly from this.
Industry News:
In July 2020, BEKA’s launched a new motorized hydro pneumatics valve that can activate trailer’s brakes in difficult situations to avoid any potential danger. In cases like slowing and stopping a tractor that is pulling a trailer can create a crisis as hydrostatic tractor transmissions can drastically slow the tractor without any operation of the brake pedal. This means the trailer’s brakes would stop working. This could create scope for BEKA to percolate across companies where end users can easily profit from such a technical advantage.
During the COVID-19 crisis, production of automotive came to a grinding halt as lockdowns imposed across countries prevented factories from operating with full force. In fact, it also affected the supply chain in notable ways. Such a pummeling effect from several sides forced the industry to face substantial financial crunch, owing to which its associated industries also got impacted. However, times are changing and countries have started normalizing things, which would be beneficial for the industry.
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