The automotive VVT & start-stop system market is projected to grow at a CAGR of 5.7%, reaching USD 58.8 billion by 2027 from USD 42.3 billion from 2021.Vehicle manufacturers are increasingly focusing on the implementation of advanced technologies to achieve high fuel efficiency. The adoption of VVT & start-stop system is primarily influenced by the increasing vehicle hybridization, luxury vehicle production, application of advanced fuel-efficient features, and government regulations on emissions.
Asia Pacific is estimated to be the largest market for VVT & start-stop system during the forecast period. The region’s automobile market has been dominated by smaller, fuel-efficient cars in the growing markets such as China and India. The governments of these countries have recognized the growth potential of the automotive industry and are taking various initiatives to encourage major OEMs to enter their domestic markets. This has led to an increase in vehicle production volumes over the years, which caters not only to the domestic demand but also to the overseas demand. The implementation of new technologies, establishment of additional manufacturing plants, and creation of value-added supply chains between manufacturers and material providers have created a platform for future growth in this region. Also, companies that are major producers of VVT & start-stop systems are suppliers to the China market. For example, , in August 2017, BorgWarner Inc. announced that it would start supplying engine timing chains, primary chain tensioners, guides, arms, balancer chains, balancer tensioners, and some other automotive components for the Kadjar sports utility vehicle (SUV) by the Dongfeng Renault Automotive Company. In 2018, Johnson Controls has also expanded its battery manufacturing plant in Shenyang, China to produce Absorbent Glass Mat (AGM) batteries suitable for start-stop systems. Also, new product launches by the companies that are major producers of VVT & start-stop systems are expected to augment market demand in this region. For instance, in October 2021, BorgWarner launched a new system called eVCT, which operates in low oil pressure and temperature and reduces “time to pressure” requirements from oil pumps. Therefore the rising penetration of such companies in the Asia Pacific market will boost the growth of the overall market.
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Europe is the second largest market for VVT & start-stop system. The large customer base and high disposable income levels in the region have fueled the demand for light commercial vehicles, which, in turn, would boost the market for VVT & start-stop system in the future. The growth of the VVT & start-stop system market in this region can be attributed to technological advancements in the industry, such as high mobility logistics trucks with enhanced capabilities. Europe has stringent emission regulations to tackle the issue of rising emission levels. Thus, government mandates for increasing fuel efficiency of vehicles and the use of advanced safety features in vehicles are expected to support the growth of the VVT & start-stop system market in Europe.
Key Market Players:
The global VVT & start-stop system market is dominated by key manufacturers such as Continental AG (Germany), DENSO Corporation (Japan), BorgWarner, Inc. (US), Robert Bosch GmbH (Germany), Aisin Seiki Co., Ltd. (Japan), and Hitachi, Ltd. (Japan). These companies develop new products, adopt expansion strategies, and undertake collaborations, partnerships, and mergers & acquisitions to gain traction in the automotive solenoid market.
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