Tire Valve Market Size, Share, Growth, And Industry Analysis, By Type (Rubber Tire Valve and Metal Tire Valve), By Application (Two Wheelers, Passenger Car, Commercial Vehicles and Others), Regional Forecast From 2023 To 2030

Updated On: 15 April 2024

TIRE VALVE MARKET REPORT OVERVIEW 

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The global tire valve market size was USD 1104.2 million in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the tire valve market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to reach USD 1462.8 million in 2028, exhibiting a CAGR of 4.8 % during the forecast period. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

The mechanism that permits air to enter and leave a tyre called a tire valve. It is placed into the stem of the tires, where a valve cap secures it. Tire valves can be composed of plastic, brass, or aluminium. To keep track of the inflation pressure of tyres, a rubber tyre valve is a sort of pressure monitoring system that is fitted in the wheel. It utilises a steel wire implanted in the valve, which creates an electric current when it is driven up against the rubber tyre by air and operates on an electromagnetic concept. Tire inflation status is shown on digital readouts as a result of the electrical signal created by the current as it passes through two coils at various periods.

COVID-19 Impact: Growth Stringent Regulations and Government Rules to Hinder the Market Growth 

The global economy, industry dynamics, and the company's top line have all been impacted by COVID-19, and it will likely take a while for them to recover. Organizations are anticipated to be forced to concentrate on the need to automate more quickly in the medium future in order to close the productivity gap as a result of COVID-19. The tire valve industry has suffered because of COVID-19. It is a useful stress test for determining a company's resilience to severe shocks and financial crisis.

Latest Trends

"An Increase in Car Demand will Boost Market Expansion "

Over the past years, the demand for automobiles has grown significantly, which has boosted rivalry among various automakers. Companies use cutting-edge technologies to draw clients from all over the world to gain a stronger position in the market. The expansion of the tyre valves market is anticipated to be driven by improved braking systems, which improve passenger safety and security.

TIRE VALVE MARKET SEGMENTATION 

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• By Type Analysis

According to type, the tire valve market can be segmented into rubber tire valve and metal tire valve.  

In terms of type, rubber tire valve is anticipated to be the largest segment during the forecast period.  

• By Application Analysis

Based on application, the tire valve market can be divided into two wheelers, passenger car, commercial vehicles, and Others.  

In terms of application, the two wheelers market is projected to hold the largest market share through 2028.

Driving Factors

"Demand for Electric Vehicles is Expected to Increase Market Demand  "

 The recent trend towards the adoption of emission-free vehicles has led to a huge increase in the market for electric vehicles. Governments across the world urge people to use electric automobiles. Due to the increased use of the product in electric vehicles, this is therefore anticipated to fuel the expansion of the global market for automotive brake valves. 

"Increasing Demand for Solenoid Valves to Fuel Market Growth "

 In several areas, modern autos use solderoids to increase performance and efficiency. Door locks and trunk releases, starter solenoid operations, automatic transmission control, dual-clutch transmission control, and variable valve are a few of the most common applications. This is mostly due to the fact that transmission systems allow for real-time torque management with each gearshift. When gears are changed, friction losses are minimized and promptly coordinated with the torque needed for the new gear, which lengthens the time it takes for the torque to synchronize. As a result, automobiles now have even greater fuel efficiency, and there is no longer any room for human error because sensors, solenoids, and computers now handle the majority of the work involved in moving the gears.

Restraining Factors

"Inflation and Rising Raw Material Prices will Impede Market Expansion"

The production process has been severely hampered in circumstances where the raw materials are not available due to the aforementioned reasons. As a result, tyre valve sales over the predicted period may be constrained. valve-related technical issues have become more prevalent. The valves may develop specific problems as they age. Continuous replacement, temporal sensitivity to voltage variations, unintentional partial valve closure, and faulty armature tubes are a few of them. Additionally, if the engine becomes too hot, the valves could stop working properly and start making particular noises. This could potentially restrain the market for tire valves over the projected term.   

TIRE VALVE MARKET REGIONAL INSIGHTS

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"The Asia Pacific Region will Dominate Market Due to Increased Investments in the Automotive"

Asia Pacific is anticipated to be the largest market during the projected period because to the region's rapid infrastructure development, rising disposable income, and increased investments in the automotive and associated industries by the ruling elite and corporate behemoths. During the duration of the forecast, it is also anticipated to expand the fastest. It is clear from the developments that agreements on the opening of new auto factories are consistently struck. This will facilitate the creation of higher-quality cars that will make it much simpler to follow even the smallest objects on the road. This would significantly lower traffic accidents. The market share for tire valves would undoubtedly benefit from the rising popularity of these vehicles.

Key Industry Players

"Adoption Experiential Marketing Services by Key Players Influencing Market Development"

The top key players in the market are Schrader (Sensata), Pacific Industrial, Continental, Baolong, Alligator, Hamaton. Most of the top players hold tire valve market share in some regions. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the tire valve market growth in the competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession of market shares by the key players stimulates the tire valve market.  

List of Market Players Profiled

• Schrader (Sensata) (Asia Pacific)
• Pacific Industrial (Japan)
• Continental (Germany)
• Baolong (China)
• Alligator (Sweden)
• Hamaton (China)
• Wonder (U.S.)
• Zhongda (China)

Report Coverage

This report examines an understanding of the tire valve market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.