AUTOMOTIVE TAPPET MARKET ANALYSIS

Market Challenges And Opportunities

Increasing demand for high performances vehicles is one of the major factor driving growth of the automotive tappet market 

Major factor attributing to growth of the market is increasing demand for the racing cars and high performance cars such as BMW, Audi, and Volkswagen. For instance, according to the Coherent Market Insights, the total number of BMW car sold in 2015, was 1.9 million units worldwide. These high performance automobiles and racing cars find substantial application of VVT technology. It enhances the performance through variation in the valve timings and changing the duration of the valves when the engine is in operation. Incorporation of VVT and lift electronic control (VTEC), which is an advanced vehicle technology, allows integration of multiple camshafts through electronic or mechanical linking systems. This in turn also enhances the efficiency of the engines and performance through increasing the Revolutions per Minute (RPM). Increasing adoption of VTEC or VVT is expected to drive growth of the automotive tappets market over the forecast period, owing to its applications in camshafts.

Increasing sales of electric and hybrid vehicles is one of restraining factors for the growth of the automotive tappet market

The increasing demand for electric vehicles and hybrid vehicles is one of the major factor restraining the growth of the automotive tappet market. Electric vehicles offer great potential to significantly reduce air pollution, greenhouse gas, and other hazardous gas emissions. These electric vehicles do not require assembly of valves and tappet to enhance its engine performance. Electric and hybrid vehicles are witnessing high consumer demand, owing to reduction in environmental pollution and to enhanced vehicle efficiency. According to the International Energy Agency (IEA), the landmark Paris Agreement around 600 million electric vehicles will be on roads worldwide by 2040, to limit global warming to below 2°C (3.6°F). The number of electric vehicle was pegged at 2 million in 2016. According to the Global EV Outlook 2017, report from the Paris-based IEA, plug-in and battery-powered vehicles are expected to increase by 60% in 2017, worldwide. In the U.S., around 160,000 units of EV were sold in 2016, with an increase of 37% from the previous year. Therefore, this factors are expected to hamper the growth of the automotive tappet market.