Report Scope & Overview:
Automotive Electronic Expansion Valve Market Size was valued at USD 672.61 million in 2022 and is expected to reach USD 1130.01 million by 2030 and grow at a CAGR of 6.7% over the forecast period 2023-2030.
Electronic expansion valves in automobiles not only improve performance but also cut energy consumption. Precision control and a larger component load fluctuation than thermal expansion valves are some of the advantages of these valves. The electronic ON/OFF valve is an electronic-controlled solenoid valve that serves as both an expansion valve and a solenoid valve. The electronic expansion valves (EXV) can enable very gradual metering of the refrigerant into the evaporator during an idle-stop because their opening can be controlled even when the air conditioner is turned off. This can extend the time it takes for the air conditioner to cool down after it has been turned off, and it's especially effective in systems with thermal storage evaporators.
In heavy vehicles, an automobile electronic expansion valve is commonly employed as a cooling system. These cooling systems are used in a variety of applications, ranging from passenger cars to commercial vehicles. Regardless of the speed of the combustion engine, the automobile electronic expansion valve maintains the appropriate temperature for combustion engines. Electronic expansion valves (EEVs) provide various advantages over traditional thermal expansion valves (TXVs), including precise control, a larger range of part load variation, quick and accurate load change response, and the ability to retain maximum capacity control even at part loads. The main benefit of electronic expansion valves is that they save about 18% of energy while still injecting the correct amount of refrigerant.
The adoption of the vehicle electronic expansion valve is motivated by the need to improve the engine's fuel economy.
The rising preference for freight transportation on roadways is expected to drive sales of HCVs.
Result of government laws aimed at reducing dangerous gas emissions.
The vehicle electronic expansion valve market may be constrained by high initial and maintenance expenses.
The rising usage of electric vehicles around the world is projected to restrain the worldwide market's growth.
Electromagnetic electronic expansion valves are being used by a number of vehicle OEMs.
Governments' efforts to decrease pollution are likely to provide opportunities for electronic expansion valves.
The rising use of electric vehicles around the world would pose a hurdle to market growth.
The entire supply chain is beset with unpredictability.
IMPACT OF COVID-19:
COVID-19 began to spread over the world in early 2020, infecting millions of individuals globally, and prompting major countries around the world to impose foot prohibitions and work stoppage orders. Most industries were severely hit, with the exception of medical supplies and life support device producers. Electronic expansion valves in automobiles have also been severely impacted. The automobile electronic expansion valve market has been considerably impacted by supply chain disruption caused by COVID-19. Government-imposed restrictions have impeded the growth of the automotive electronic expansion valve market, causing global manufacturing processes to stall and skilled workers to become unavailable due to social distancing policies.
Various supply chain suppliers are experiencing a raw material scarcity, which is affecting global market growth; if the scenario persists, there is an ever-increasing risk of raw material shortage. Due to the rapid proliferation of COVID-19, the entire supply chain is facing unanticipated concerns and obstacles such as OEM shutdowns, insufficient labor, output decrease, and raw material, all of which have impacted the automotive electronic expansion valve market.
KEY MARKET PLAYERS:
Fujikoki, CAREL INDUSTRIES, SANHUA, Saginomiya, Emerson, DunAn, Castel, VOLGA, Parker, Emerson, and Danfoss Group are some of the major players in the Automotive Electronic Expansion Valve Market.
Market, By Type:
The market is divided into two categories based on the kind of type: electric, and electromagnetic. The electromagnetic electronic expansion valve segment is expected to dominate the market. Because it is programmed to sense variations in pressure and temperature at any given position across the vehicle, the electromagnetic electronic expansion valve segment is predicted to develop at a quicker rate during the projection period.
Market, By Application:
The market is divided into applications, which are further divided into commercial vehicles, and passenger cars. During the projection period, the commercial vehicle category is likely to hold the largest share of the market and increase at a quicker rate. LCVs (light commercial vehicles) and HCVs (heavy commercial vehicles) are two types of commercial vehicles (HCVs).
Asia-Pacific, North America, Europe, the Middle East, Africa, and South America make up the worldwide automobile electronic expansion valve market. Asia-Pacific accounts for a sizable portion of the global market for automotive electronic expansion valves. Several sectors in the region are being driven by the significant rise in per capita income in several developing countries in the region. As a result, the automotive electronic expansion valve market is likely to grow throughout the forecast period. Furthermore, the region is home to advanced car markets such as South Korea and Japan, as well as developing countries like China and India. The automotive electronic expansion valve market in the area is developing due to the rising demand for passenger cars as a result of changing lifestyles.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 672.61 Million|
|Market Size by 2030||US$ 1130.1 Million|
|CAGR||CAGR of 6.7% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Type (Electromagnetic, Electric)
• by Application (Passenger Cars, Commercial Vehicles)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Fujikoki, CAREL INDUSTRIES, SANHUA, Saginomiya, Emerson, DunAn, Castel, VOLGA, Parker, Emerson, and Danfoss Group|
|Key Drivers||•The adoption of the vehicle electronic expansion valve is motivated by the need to improve the engine's fuel economy.
•The rising preference for freight transportation on roadways is expected to drive sales of HCVs.
|RESTRAINTS||•The vehicle electronic expansion valve market may be constrained by high initial and maintenance expenses.
•The rising usage of electric vehicles around the world is projected to restrain the worldwide market's growth.
Frequently Asked Questions (FAQ) :
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
220.127.116.11 United Kingdom
18.104.22.168 South Korea
22.214.171.124 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Automotive Electronic Expansion Valve Market Segmentation, by Type
9. Global Automotive Electronic Expansion Valve Market Segmentation, by Application
9.1 Commercial Vehicles
9.2 Passenger Cars
10. Regional Analysis
10.2 North America
10.2.1 the USA
10.3.2 the UK
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4.2 South Korea
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.3 South Africa
10.6 Latin America
10.6.3 Rest of Latin America
11. Company Profiles
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.3 CAREL INDUSTRIES
11.12 Danfoss Group
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share analysis
12.3 Recent Developments
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