PORTLAND, Oregon, Feb. 14, 2019 /PRNewswire/ -- Surge in demand for fuel-efficient vehicles to cut down on greenhouse gas emission, also backed by strict government regulations for emissions, are expected to propel the growth of the global VVT and start-stop system market.
Allied Market Research recently published a report, titled, "VVT and Start-Stop System Market by Camshaft Type (DOHC and SOHC), Starter Type (Belt-Driven Alternator Starter, Enhanced Starter, Direct Starter, and Integrated Starter Generator), and Fuel Type (Gasoline, Diesel, and Electric): Global Opportunity Analysis and Industry Forecast, 2018 - 2025". According to the report, the global VVT and start-stop market was valued at $25.33 billion in 2017 and is anticipated to reach $52.06 billion by 2025, growing at a CAGR of 9.2% during the forecast period.
The growth of the global VVT and start-stop market is driven by the surge in demand for fuel-efficient vehicles, strict government regulations pertaining to emissions, and increased demand for hybrid vehicles. Additionally, the development of start-stop system for bikes and the growth of government initiatives to reduce emission in emerging economies are poised to create lucrative opportunities for new market players in the near future. However, the high cost of such systems along with engine wear-and-tear as a result of excessive start-stop cycles hamper market growth.
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Dual overhead camshaft (DOHC) is expected to dominate the global market
Based on camshaft type, the dual overhead camshaft (DOHC) is anticipated to be the largest and fastest growing segment on account of its advantageous features, such as enhanced performance, increased power & efficiency, and improved durability, over the single overhead camshaft (SOHC).
Integrated starter generator segment to occupy the maximum market share by 2025
By starter type, the integrated starter generator segment generated the highest revenue in 2017 and is projected to occupy more than half of the global market by 2025. The segment is also poised to grow at the fastest rate, registering a CAGR of 10.5%, owing to its advantages over other starter type segments, such as high fuel efficiency, low emission, and high power generating capacity.
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Gasoline segment is projected to continue its dominance through 2025
By fuel type, the gasoline segment is expected to continue its dominance throughout the forecast period, due to low carbon emission and greater fuel economy as compared to diesel. However, the electric segment is expected to grow at the fastest CAGR of 11.2% from 2018 to 2025, due to government regulations for emission and rise in the price of fuels.
Asia-Pacific to encounter the fastest growth from 2018 to 2025
Throughout the forecast period, Asia-Pacific is projected to witness the highest CAGR of 13.9%, on account of strict government regulations to mitigate greenhouse gas emissions and increased demand for fuel-efficient vehicles. Meanwhile, Europe generated half of the global market revenue in 2017 due to the rise in demand for hybrid vehicles to reduce the consumption of fuel.
Key market players
The key players analyzed in the report include Continental AG, Mitsubishi Electric Corporation, Robert Bosch Gmbh, Delphi Automotive PLC, Denso Corporation, Borgwarner Inc., Valeo S.A., Johnson Controls, Inc, Hitachi Ltd., and Aisin Seiki Co. Ltd. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
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SOURCE Allied Market Research