India Engine Valves and Parts Market Future Outlook to 2022: Ken Research India Engine Valves and Parts Market Segmentation By OEMs and Aftermarket Original Equipment Manufacturers (OEMs) dominate the purchase volumes of engine valves and parts with revenue share worth ~% in FY’2017. The aftermarket parts in India are usually less expensive in comparison with OEM parts. The aftermarket companies reverse engineer the particular part in order to handle its weaknesses. By Market Structure Market structure can be broadly classified into organized and unorganized sector. Primarily, the organized sector caters to the need of OEMs, thus dominating the India engine valves and parts market with revenue share worth ~% in FY’2017. On the other hand, the unorganized sector made its presence felt in the market by capturing revenue share worth ~% in FY’2017 by fulfilling the needs of aftermarket coupled with increasing replacement demand of valves and spare parts in the sector. By Type of Engine Valves and Parts Based on type, engine valves and parts are classified into valves, guides and tappets. Valves have mammoth share worth ~% in revenue generated from sale of engine valves and parts in FY’2017. On the other hand, valve guides was ranked second in market with revenue share worth ~% majorly due to high demand for motorcycle engine valves in India engine valves and parts market in FY’2017. At last, tappets were able to capture minimum revenue share of ~% in FY’2017. By Deployment Based on deployment, engine valves and parts are classified on the basis of automotive and non automotive segment. The automotive segment majorly comprises of passenger and commercial vehicles, two wheelers, three wheelers and other LCV, HCV and MUVs collectively generating revenue share worth ~% in FY’2017. Whereas, the non automotive segment comprises of power generating engines such as electric generators and others, gaining the remaining share of ~% in FY’2017. By Type of Vehicles Based on type of vehicles, engine valves and parts market can be classified into two wheelers, passenger and commercial vehicles, LCV and HCV and others. The passenger and commercial vehicles segment dominated with revenue share worth ~% in FY’2017 owning to development
of valve actuation technologies to optimize control of engine air flow. Two wheelers segment was witnessed to generate ~% revenue share in FY’2017 majorly due to increasing demand of mobility in India. The remaining share of ~% was collectively captured by LCV, HCV and other vehicles. By Type of Valves Based on type of valves; engine valves and parts market can be classified into rotary, sleeve and poppet valves. The rotary valve segment dominated the India engine valve and parts market by capturing revenue share of ~% in FY’2017. Trade Scenario of India Engine Valves and Parts Market The total export value of engine valves and parts to India was evaluated at INR ~ million in FY’2011 which increased to INR ~ million in FY’2016. Some of the major engine valves exported in FY’2016 included inlets and exhaust parts for both spark ignition engine and compression engine to major countries such as US, Italy, UK, Spain and Germany. In India, spark ignition engine valves, inlets and exhaust make up ~% of total exports and compression engine valves, inlets and exhaust accounted for remaining ~% of total exports for the year ending FY’2016. The technologies used in India to produce light weight valves are gaining importance in foreign countries which is leading to growing number of exports to foreign countries. On the contrary, ~% of the demand of engine valves and parts is fully met, while the left ~% is imported in India. In India, spark ignition engine valves, inlets and exhaust make up ~% of total imports and compression engine valves, inlets and exhaust accounted for remaining ~% of total imports for the year ending FY’2016. The rise for demand of foreign goods such as good quality engine valves, valve seat insert and valve guides, backed by reduction in import duty led to increase in imports of engine valves and parts in India. Reduction in import duty led to increase in imports of engine valves and parts in India. Trends and Developments of India Engine Valves and Parts Market The major trend to be witnessed in India engine valves and parts market is the replacement or conversion of solid valves into hollow ones majorly to maintain strength among the valve, add horse power and reduce fuel emissions. India is gaining attraction in terms of quality valve manufacturing with the production of titanium valves in India engine valve market. Titanium offers the highest strength-to-weight ratio of any known metal. Rising demand of engine valves for CNG based vehicles because of increasing availability of natural gas in India.
Issues and Challenges of India Engine Valves and Parts Market Major problem associated with India engine valves and parts market is the fierce competition faced in India, lack of skilled workers, poor supply chain management and increasing raw material cost which restricts the production of engine valves and parts in India. Material cost accounts around ~% of the total cost of valve. Fluctuating prices of metals such as carbon steel, stainless steel, ductile iron and aluminum in cast/forge form are affecting the margins of the manufacturers. Usage of obsolete machinery and equipment has also been responsible for high defects in India engine valves market. India Engine Valves and Parts Market Major Players REVL dominated the India engine valves and parts market by maintaining revenue share worth ~% in both FY’2016 and FY’2017 majorly due to rise in sales of its high end engine valves, valve guides and tappets accompanied by its wide distribution network, targeting various segments such as passenger cars (PC, MUV and MPV), light commercial vehicles, two wheelers and three wheelers in the country. Shriram Pistons followed REVL with revenue share of ~% in India engine valves and parts market in FY’2017. Custom designed engine valves matching the exact specifications of vehicle manufacturers were driving the market for Shriram Pistons in India engine valves and parts market. Future Outlook Future outlook and projections were forecasted on the basis of revenues and type of vehicles including passenger and commercial vehicles, two wheelers, LCV and HCV and others. Over the forecast period, India engine valves and parts market will prepare itself to meet the future demand expected from the substantial investment proposed in key segments such as automotives and industrial sector. Initiatives are taken by the Ministry of Petroleum & Natural Gas to introduce CNG as a fuel source for two wheelers to curb rising air pollution in India, thus leading to increase in demand for fuel emission control valves for two wheelers. The passenger cars segment in India is expected to dominate more than half of the India engine valves and parts market with revenue share worth ~% by FY’2022. The two wheelers segment followed passenger cars with an expectation to attain revenue share of ~% by FY’2022. Several automobile manufacturers from global players such as Audi to domestic manufacturers such as Maruti Suzuki, Mahindra & Mahindra are trying to discover the chances of introducing
driverless self-driven cars in India. LCV and HCV segment are expected to capture minimal share of ~% in India engine valves and parts market by FY’2022. Key Factors Considered in the Report Auto Parts Industry In India Future Engine Valve Market Industrial Valve Market in India Tappet Engine Valve Component India Engine Valve Manufacturers Automotive Valves Market Trends Auto Components Market in India Valve Guides and Tappets Manufacturers India To know more about the research report: https://www.kenresearch.com/automotive-transportation-and-warehousing/automotiveand-automotive-components/india-engine-valve-parts-market/126974-100.html Related Reports by Ken Research https://www.kenresearch.com/automotive-transportation-and-warehousing/automotiveand-automotive-components/india-premium-car-exchange-market-report/80168-100.html https://www.kenresearch.com/automotive-transportation-and-warehousing/automotiveand-automotive-components/india-multi-brand-car-servicing-report/10745-100.html https://www.kenresearch.com/automotive-transportation-and-warehousing/automotiveand-automotive-components/india-preowned-two-wheelers-market-report/6912-100.html Contact: Ken Research Ankur Gupta, Head Marketing & Communications query@kenresearch.com +91-124-4230204