Global Automotive Throttle Body Assembly Market Overview
According to Global Market Monitor, the global automotive throttle body assembly market size will be $4987.25 million in 2024 with a CAGR of 0.27% from 2024 to 2029.
A throttle body assembly is an integral part of a fuel-injected engine’s air intake system. Its function is to regulate the amount of air that flows into the engine – accounting for factors such as throttle (gas pedal) position, idle speed, cold start warmup, and more. Typically, the Automotive Throttle Body Assembly is located between the air filter and the intake manifold connected to the mass airflow sensor. Most vehicles have only one throttle body; however, many high-performance cars may have one throttle body for each given cylinder.
Market Challenges and Impact
In recent years, under the background of global energy conservation and emission reduction, the automotive industry has gradually realized the requirements of clean and environmental protection. Among them, the sales of pure electric vehicles continued to grow. According to the International Energy Agency's (IEA) latest Global Electric Vehicle Outlook report, more than one in five cars sold worldwide will be electric by 2024. The surge in demand for electric vehicles over the next decade will reshape the global automotive industry and significantly reduce oil consumption for road transport. Global electric vehicle sales are expected to maintain strong growth in 2024, reaching about 17 million units by the end of the year, accounting for more than one-fifth of total global vehicle sales.
In China, electric vehicle sales will increase to about 10 million units in 2024, accounting for about 45 percent of China's domestic car sales. In the United States and Europe, electric vehicles are expected to account for about one in nine and one in four sales, respectively. The U.S. electric vehicle market is still largely dominated by Tesla, which accounts for more than half of all electric vehicle sales. In Europe, the surge in electric vehicle sales is partly due to new CO2 emission standards, and subsidies for electric vehicle purchases have also been increased and expanded in most major European markets.
Since the operation of a pure electric vehicle does not require a throttle body assembly. Growing demand for electric vehicles is expected to restrain the automotive throttle body assembly market in the coming years.
Fierce Competition
At present, there are many manufacturers of Automotive Throttle Body Assembly in the world, and the competition is fierce. Multinational enterprises and joint ventures have a larger market share of their advantages in capital, technology, management, and internal supporting facilities. Most SMEs are small in scale and have a low market share.
At the same time, with the development of the global automobile market and the diversification of automobiles. Therefore, Automotive Throttle Body Assembly companies should continue lean production activities to reduce product production costs, and through continuous research and development of new products in line with technological development trends, through platform development, technological progress, process improvement, centralized procurement, seeking new alternative materials and other means Strictly control costs, so that products maintain a high cost-effective advantage. Automotive Throttle Body Assembly should continue to reduce the production cost of existing products, optimize product structure, and develop new products with high-added.
Bosch is one of the major players operating in the automotive throttle body assembly market, holding a share of 22.53% in 2024.
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Company Name |
Bosch |
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Website |
www.bosch.com |
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Established Time |
1886 |
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Plants Distribution |
Mainly in Germany, the USA, etc. |
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Sales Region |
Worldwide |
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