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India Engine Valves and Parts Market Future Outlook to 2022: Ken Research

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Title: India Engine Valves and Parts Market Future Outlook to 2022: Ken Research


1
India Engine Valves and Parts Market Future
Outlook to 2022 Ken Research
2
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 FY2017. 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.
3
  • 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 FY2017. On
    the other hand, the unorganized sector made its
    presence felt in the market by capturing revenue
    share worth in FY2017 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
    FY2017. On the other hand, valve guides was
    ranked second in

4
market with revenue share worth majorly due to
high demand for motorcycle engine valves in India
engine valves and parts market in FY2017. At
last, tappets were able to capture minimum
revenue share of in FY2017. 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 FY2017.
Whereas, the non automotive segment comprises of
power generating engines such as electric
generators and others, gaining the remaining
share of in FY2017.
5
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 FY2017 owning to
development of valve actuation technologies to
optimize control of engine air flow. Two wheelers
segment was witnessed to generate revenue
share in FY2017 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 FY2017.
6
  • 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
    FY2011 which increased to INR million in
    FY2016. Some of the major engine valves exported
    in FY2016 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 FY2016. 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

7
compression engine valves, inlets and exhaust
accounted for remaining of total imports for
the year ending FY2016. 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.
8
  • 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.
  • Usage of obsolete machinery and equipment has
    also been responsible for high defects in India
    engine valves market.

9
  • 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.
  • India Engine Valves and Parts Market Major
    Players
  • REVL dominated the India engine valves and parts
    market by maintaining revenue share worth in
    both FY2016 and FY2017 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
    FY2017. Custom designed engine

10
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.
11
  • 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 FY2022. The two wheelers segment followed
    passenger cars with an expectation to attain
    revenue share of by FY2022. 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 FY2022.
  • Key Factors Considered in the Report
  • Auto Parts Industry In India
  • Future Engine Valve Market
  • Industrial Valve Market in India
  • Tappet Engine Valve Component

12
  • 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-transportat
    ion-and-warehousing/automotive-and-automotive-comp
    onents/india-engine-valve-parts-market/126974-100.
    html
  • Related Reports by Ken Research
  • https//www.kenresearch.com/automotive-transportat
    ion-and-warehousing/automotive-and-automotive-comp
    onents/india-premium-car-exchange-market-report/80
    168-100.html

13
https//www.kenresearch.com/automotive-transportat
ion-and-warehousing/automotive-and-automotive-comp
onents/india-multi-brand-car-servicing-report/1074
5-100.html https//www.kenresearch.com/automotive
-transportation-and-warehousing/automotive-and-aut
omotive-components/india-preowned-two-wheelers-mar
ket-report/6912-100.html Contact Ken Research
Ankur Gupta, Head Marketing Communications quer
y_at_kenresearch.com 91-124-4230204
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