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.
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insight/automotive-tappet-market-1844
The flat tappets is estimated to be the largest segment during the forecast period.