Automotive Variable Cam Timing (VCT) System Market set to reach US$ 3,419.2 million by 2024
February 20, 2020
Automotive Variable Cam Timing System Market Overview:
The penetration of VCT systems in gasoline engines has incessantly been increasing because of their several benefits. This corresponds to the generation of healthy growth opportunities for the market participants situated across the value chain. The market for VCT systems in the automotive industry is projected to grow at a higher rate than the overall automotive industry growth rate over the next five years to reach US$ 3,419.2 million in 2024. Organic growth in automobile production coupled with increasing penetration of VCT systems, stringent emission standards regarding by the governments of various countries, and a growing interest towards the development of more efficient engines are some major factors that are fueling the growth automotive VCT system market.
The Diverse Stand Points:
The true picture of the market shall not emerge till the time the market is analysed from various point of views. Each vantage point give better understanding of the market. The market of Automotive VCT System has been view from various perspectives such as:
- By Material Type (Alumina Oxide Ceramics, Titanate Oxide Ceramics, Zirconia Ceramics, Others)
- By Application Type (Automotive Engine Parts, Automotive Exhaust Systems, Automotive Electronics, Others)
- By Region (North America, Europe, Asia-Pacific, and RoW)
Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.
The answers to the prominent questions which are evinced out of above slicing of the market are:
- Which are the best performing segments of the market?
- Which is the most dominant region?
- Who are the movers and shakers of the market?
- What are the regional growth hotspots?
- What are the segmental growth forecasts?
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Automotive VCT System Market Segment Insights:
ICE: The growth engine
The automotive VCT System market is segmented based on the powertrain type as Internal Combustion Engine (ICE) and Hybrid Engine. ICE is expected to remain the growth engine of the automotive VCT system market during the forecast period. Large production units of ICE vehicles primarily drive the demand for VCT system in the ICE segment. Hybrid engine is likely to witness the highest growth over the next five years, driven by increasing demand for hybrid engines.
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Dominance of: Passenger Car
Based on the vehicle type, automotive VCT system market is segmented as Passenger Cars and Commercial Vehicles. Passenger car is expected to remain the larger segment of the market over the next five years. The vehicle type is also likely to witness higher growth during the same period, driven by a greater adoption rate of VCT systems.
A highly/moderately/fragment consolidated Market
The supply chain of this market comprises raw material suppliers, component manufacturers, VCT system manufacturers, automotive OEMs, and dealers. The key automotive VCT System manufacturers are BorgWarner Inc., Schaeffler AG, Magna International Inc., Denso Corporation, Delphi Technologies, Hilite International Inc., Hitachi Ltd., and Zhejiang Auto Parts Co., Ltd. Development of high-performance VCT systems and the formation of strategic alliances with OEMs or engine manufacturers, are the key strategies adopted by the key players to gain a competitive edge in the market.
Regional Hegemony of Asia-Pacific
Asia-Pacific is projected to remain the largest automotive VCT system market during the forecast period in terms of both value and units. The region is also likely to exhibit the highest growth over the next five years. China, Japan, and India are the growth engines for the region’s market. Europe is also likely to exhibit a sizeable demand for automotive VCT Systems during the forecast period.
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Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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