The Market of Automotive VCT System to grow beyond US$ 3,419.2 million by 2024
February 12, 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.
Report Overview:
This report, from Stratview Research, provides a comprehensive analysis that reflects the current automotive variable cam timing (VCT) system market realities and future market possibilities based on the study of current penetration of VCT in different vehicle types as well as forecast its expected penetration by 2024. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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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Automotive Variable Cam Timing System Market Segment Insights:
Passenger Car: The growth engine
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.
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https://www.stratviewresearch.com/toc/482/automotive-variable-cam-timing-system-market.html
Dominance of: ICE and Hydraulic VCT System
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.
Based on the product type, the market is segmented as Hydraulic VCT System and Electric VCT System. Hydraulic VCT System is expected to remain the dominant product type in the market during the forecast period. However, electric VCT System is likely to exhibit higher growth during the same period. Electric VCT system exhibits better phasing performance as compared to conventional hydraulic VCT system.
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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