Automotive Variable Cam Timing (VCT) System Market to Reach US$ 3.4 Billion in 2024, Says Stratview Research

DETROIT, May 15, 2019 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Automotive Variable Cam Timing (VCT) System Market by Powertrain Type (ICE and Hybrid Engine), by Vehicle Type (Passenger Cars and Commercial Vehicles), by Product Type (Hydraulic VCT System and Electric VCT System), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

This market report, from Stratview Research, studies the variable cam timing system market in the global automotive industry over the trend and forecast period of 2013 to 2018 and 2019 to 2024, respectively. It provides a comprehensive analysis that reflects the current 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.

Automotive Variable Cam Timing (VCT) System Market: Research Highlights

VCT system plays an important function as it efficiently maintains the timing of the valve's opening and closing. It cannot vary the valve lift, unlike cam changing VVT; however, VCT is the simplest and cheapest form of VVT because each camshaft needs only one VCT system, unlike other systems that employ an individual mechanism for every cylinder. Another noteworthy feature of the VCT system is that it increases internal residual gas by affecting the intake, combustion, and exhaust phases of the engine cycle. An increase in internal residual gas reduces the combustion temperature, which, in turn, decreases the nitrogen oxide (NOx) formation. The internally recirculated exhaust gas is rich in unburned hydrocarbons (HC), which can be burned in the next cycle.

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 by the governments of various countries, and growing interest towards the development of more efficient engines are some of the major factors that are fueling the growth of automotive VCT system market.

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The 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 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 higher growth over the next five years, driven by increasing demand for hybrid engines.

Based on the vehicle type, 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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In terms of region, 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 driven by China, Japan, and India. Europe is also likely to exhibit a sizeable demand for automotive VCT systems during the forecast period.

Key players in the market 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 formation of strategic alliances with OEMs or engine  manufacturers, are the key strategies adopted by the major players to gain a competitive edge in the market. 

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

This report studies the VCT system market in the global automotive industry and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:

Automotive VCT System Market, By Powertrain Type

• Internal Combustion Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Hybrid Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive VCT System Market, By Vehicle Type

• Passenger Cars (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Commercial Vehicles (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive VCT System Market, By Product Type

• Hydraulic VCT System (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Electric VCT System (Regional Analysis: North America, Europe, Asia-Pacific, and RoW) 

Automotive VCT System Market, By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: France, Germany, the UK, Italy, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, South Korea, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Rest of the World)

Stratview Research has several high value market reports in the global automotive industry. Please refer to the following link to browse through our reports:

Click Here for Other Reports from Stratview Research in the Automotive Industry

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