Valve spools are also referred to as valve lifters or cam follower. Tappet is a part of the valve train that follows the camshaft to facilitate the opening and closing of valves. It is widely used in an internal combustion engine as it is used for adjusting the overall clearance in the valve actuation system, which, in turn, allows the camshaft to move vertically while rotating the camshaft in the vertical motion. Factors, such as increasing disposable income and rising preference for products in emerging & developing economies due to socio-economic development, are expected to play a significant role in the market valve spool growth over the forecast period.

Market scope and structure analysis:

COVID-19 scenario analysis:

• The automotive industry has witnessed the impact of the coronavirus crisis evolving from a supply shock to a global demand shock.
• The problems for the auto sector had started long before COVID-19 happened. The auto sector has been under stress after it began with a slowdown in demand and then the NBFC defaults exacerbated the crisis.
• The global pandemic caused by the novel coronavirus came at a time when both the global economy and the automotive industry were hoping for recovery.
• The absolute magnitude of the impact depends on the duration of the ongoing lockdown and the impact caused by the pandemic.
• The onset of COVID-19 globally is expected to have a negative impact on the automotive industry and all other major industries.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis 

Some of the factors that boost the development of seamless engine technology and increasing sales of vehicles globally are expected to spur the product demand over the forecast period. However, increase in demand for valve control products due to industrialization and urbanization is anticipated to hamper the growth of the market. Furthermore, the growing awareness to adopt spool valve in all the end-use applications is a noteworthy achievement, which is expected to offer lucrative opportunities for the market over the forecast period.

The valve spool market trends are as follows:

Development of seamless engine technology

In a camless engine, the engine valves are operated using electromagnetic, hydraulic or pneumatic actuators instead of the conventional camshaft. The camless engine utilizes the compressed air recovered by braking energy as an energy source. This development is expected to have a positive impact on the overall market growth. In addition, automotive positive crankcase ventilation valves are essential fittings in vehicles as they play a crucial role in reducing the emission of engine gases into the environment. Therefore, the global valve spool market is expected to grow further during the forecast period.

Increasing sales of vehicles globally 

Car sales across have risen globally with increase in urbanization in most of the developing economies across the globe. The buying power of customers has tremendously increased, which boosted the sales of vehicles globally. Moreover, the global passenger car sales have increased, which led to the development and innovation in the automotive industry. In addition, manufacturers are adopting the most advanced technologies that are affordable for customers to gain a competitive edge in the market. The growing automotive sale in the market is expected to propel the valve spool market over the forecast period.

Key segments covered:               

Key benefits of the report:

• This study presents the analytical depiction of the valve spool market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the valve spool market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the valve spool market scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed valve spool market analysis based on competitive intensity and how the competition will take shape in the coming years. 

Questions answered in the market research report:

• Which are the leading market players active in the market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?