Automotive Transmission Valve Spool Market is Expected to Reach $2.81 Billion by 2030-Allied Market Research

According to a recent report published by Allied Market Research, titled, “Automotive Transmission Valve Spool Market by Transmission Type, Speed, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2020–2030,” The global automotive transmission valve spool market was valued at $1.54 billion in 2020, and is projected to reach $2.81 billion by 2030, registering a CAGR of 6.5%.

North America dominates the market in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. U.S. led the global automotive transmission valve spool market share in 2020 and is expected to grow at a significant rate during the forecast period due to the wide presence of automotive manufacturers across the country.

A spool valve is a hydraulic fluid flow control valve that is part of a transmission system. The valve is made up of spools that spin or slide in a transmission system to block and open channels. The automotive transmission valve spool directs fluid flow to and from other valves within a hydraulic system in automatic or semi-automatic automotive transmission systems. The rise in demand for automatic transmission systems across the world has promoted the growth of automotive transmission spool valve market. Furthermore, global automobile manufacturing activities have a significant impact on the sale of automotive transmission valve spool.

Asia-Pacific and Europe are leading consumers of automotive transmission valve spool, and this trend is projected to continue during the forecast period. India is developing at a significant rate, as a result of government initiatives, such as self-reliant India, to boost its manufacturing activities and enhance the outlook for automotive manufacturers.

The factors, such as rise in adoption of lightweight transmission systems, increase in demand for commercial vehicles, and rise in requirement of automatic transmission, are expected to drive the global automotive transmission valve spool market. However, increase in adoption of engine downscaling techniques by OEM and high costs associated with advanced transmission valves are expected to restrict the growth of the market during the forecast period. Moreover, advancement in spool valve technologies, and increase in vehicle production in developing countries are the factors anticipated to supplement the global market growth.

The sale of the automotive transmission valve spool is directly associated with automotive production and sales activities across the globe. The spread of the COVID-19 pandemic has negatively impacted the growth of the market, owing to commute restrictions and poor financial performance of the market players in 2020. The COVID-19 crisis is causing uncertainty in the market by delaying supply chains, hampering business growth, generating uncertain demand scenarios, and increasing panic among the customer segments.

Key Findings Of The Study

• On the basis transmission type, the CVT segment is expected to register significant growth during the forecast period.
• On the basis of speed, the 5 to 7 speed transmission segment is projected to lead the global market in terms of market share by the end of the forecast period.
• On the basis of vehicle type, the passenger cars segment is expected to register significant CAGR during the forecast period.
• North America dominated the market in 2020, and is projected to lead the market growth and maintain its dominance in the global market.

The key players profiled in the Automotive Transmission Valve Spool Market report are Argo-Hytos Inc., Bosch Rexroth AG, Christian Bürkert Gmbh & Co. KG, Dymax, Eagle Industry Co., Ltd., Eaton Corporation plc, GMB Corporation, HAWE Hydraulik SE, HYDAC International GmbH, and Parker-Hannifin Corporation.