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A new market research report by Future Market Insights on the valve seat inserts market includes global industry analysis 2014–2018 and opportunity assessment 2019–2029. The report investigates into the valve seat inserts market and provides critical insights for the forecast period of 2019-2029. As per the market assessment, the valve seat inserts market is likely to grow at a considerable growth of 4.0% against the backdrop of ongoing increase in vehicle parc and anticipated growth in automobile production.The global valve seat inserts market is estimate to be valued at ~US$ 5 Bn in 2019, mainly influenced by the trade tensions, political environment, and government policies to boost the automobile sector. Moreover, the growth outlook for the valve seats inserts aftermarket is stable, although the market structure pertaining valve seat inserts will change significantly over the coming years. Moreover, to win over the market imponderables and shakeouts, the manufacturers such as Federal-Mogul, Mahle, and Nippon Piston Ring are heavily investing on capacity expansions, R&D for the development of new materials, and new distribution channels.
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valve seat inserts market share by region 2018
As per the analysis, manufacturers are likely to focus on developing valve seat inserts using new technologies such as powder metallurgy to overcome the challenges put forward by conventional manufacturing techniques. The growth of maritime tourism coupled with increase in the number of two-wheelers in nations such as India will provide an impetus to the market growth in the coming years.
Anticipated Increase in the Demand to Offer Lucrative Market Space
Valve seat inserts market is directly correlated to automotive production. Despite the unstable economic conditions in the recent past, on an average, the global automotive industry has witnessed plausible growth. Automotive production is anticipated to increase at a modest CAGR of 3–3.5% over the forecast period. Increasing automotive production, automotive sales, and easier credit availability are found to be key imperatives to drive the global valve seat inserts market during the forecast period. Transition from mature markets to developing markets will intensify in the longer term to capture growth in the valve seat inserts market.
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As per FMI analysis, automotive production is expected to be higher in developing economies as compared to that in developed economies. This can mainly be attributed to the increasing middle-class, changing demographics, and stable economic conditions in these regions. During the forecast period, the fleet on road is also expected to rise at a modest CAGR, thus providing marginal opportunities for growth in the valve seat inserts market.
Automotive – A Prime Mover for the Global Market Growth
A robust market trajectory is foreseen for the valve seat inserts market. In addition, passenger cars and commercial vehicles using a multi cylinder engines to remain the predominant end users of valve seat inserts.
To benefit from the ever-growing demand for valve seat inserts, the companies are heavily investing to improve their manufacturing capabilities and launching new products produced by inclusion of new materials. Among the core end-users, passenger cars are set to dominate the market due to a large volume of the production and fleet figures. Also, industrial machinery and off-highway are likely to offer a promising outlook in the near future. It is evident from the fact that demand from road construction, mining, and defense is expected to drive up the consumption of valve seat inserts for off-highway machinery.
Expansion of warehouse space globally, strong demand for forklift truck replacements in developed markets, and growing e-commerce business is likely to substantially enhance the sales of valve seats inserts. Moreover, FMI assessed an anticipated increase in the production (4-6% annually) of industrial trucks to surge the consumption of valve seat inserts.
Valve Seat Inserts Market: Vendor Insights
The report titled valve seat inserts highlights some of the prominent market players, who have established themselves as the prominent stakeholders in the global valve seat inserts market. Some of the examples of key players in the global valve seat inserts market are MAHLE GmbH, Tucker Valve Seat Company, Indian Seats & Guides Company, Nippon Piston Ring co., Ltd, Dura-Bond Bearing Company, BLW Engine Valves, Federal-Mogul LLC, MS Motorservice International GmbH, Microfinish, Kavya International, Perfect Alloy Components Pvt. Ltd., Coopercorp Engine Components, Summit Valve Train LLC, XLP Engineers Pvt. Ltd., among others. Furthermore, Dura Bond and Mahle have developed valve seat inserts that help customers achieve better cylinder head machining and engine performance. In addition, Federal-Mogul’s new material for valve seat inserts is suitable for both cast iron and aluminum cylinder heads and is compatible with gasoline, diesel, biodiesel fuel blends, and ethanol
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In terms of market structure and tier analysis, the global valve seat inserts market is significantly fragmented with few players holding a prominent share of nearly 40% in the valve seat inserts market.
The study finds that production cuts and plunged auto sales in the past few months have changed the situation. However, government spending, tax cuts, subsidies, and policies will continue to fuel the growth of the auto sector and valve seat inserts market. In a nutshell, the global valve seat inserts market will continue to grow at a CAGR of ~4% between the forecast periods of 2019 and 2029.
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