Piston Market Overview
Recent Research on the Global Automotive
Piston Market Size indicates remarkable development of the market in the
past few years which is anticipated to further grow in the projected period of 2023-2032.
The Automotive Piston Market revenue was valued at USD 2.9 billion
in 2023 which is expected to reach USD 4.3 billion with a positive CAGR of 5.10%
within the forecasted period 2023 to 2032.
Rising development of the automotive industry especially the
manufacturing of fuel-efficient and high-performance automobiles has helped in
the growth of the Automotive Piston Market. Along with the above-mentioned
factors, rising popularity of downsizing engine will be one of the key market
drivers in the coming years.
Like many other markets, Covid 19 has negatively impacted the market
of pistons. Because of pandemic lockdowns many production plants were closed,
there were also low repair works as well as reduced sales have created a
negative impact on the market. But, it is expected that the Automotive
Piston Market will recover from such market scenario in the foreseeable
future.
Piston Key Players
·
Aisin Seiki Co. Ltd. (Japan)
·
Federal-Mogul Corporation
(U.S.)
·
Rheinmetall Automotive AG
(Germany)
·
MAHLE GmbH (Germany)
·
Arias Pistons Ltd (U.K.)
·
Shandong BinzhouBohai Piston
Co. Ltd. (China)
·
Burgess-Norton Mfg. Co. Inc.
(U.S.)
·
Ming Shun Industrial Co. Ltd
(Taiwan)
·
Ross Racing Pistons (U.S.)
·
Shriram Pistons
·
Rings ltd. (India)
Piston Market Segmentation
The Automotive Piston Market is segmented into raw material,
vehicle type, fuel type, component type and region.
Based on fuel type, the market is segmented into Gasoline and
Diesel.
On the basis of vehicle type, the market is segmented into commercial
vehicles and passenger cars. Use of combustion engine and gasoline, diesel
vehicles, mostly commercial vehicles promote the development of the Automotive
Piston Market size. However, rising bent towards electric automobiles and
emission laws have hindered the growth of the Automotive Piston Market. But
the ICE truck industry have helped in the growth of the market in past years
and is expected to drive the market in future.
Piston Market Regional Classification
On the basis of region, the market is segmented into North America,
Europe, Asia Pacific and the rest of the world.
North America occupy the largest Automotive Piston Market
share and the region is anticipated to find steady growth in the forecasted
period. Europe also holds significant share in the market. Asia Pacific will be
the fastest growing market in the projected period.
India and other ASEAN countries are expected to dominate the
combustion-based automotive market due to high number of sales in the region.
This region is anticipated to hold a significant share of the Automotive
Piston Market revenue in the coming years and positively impact the Automotive
Piston Market.
Piston Industry News
Some of the major players of the Automotive
Piston Market Share are Federal-Mogul Holding LLC, Rheinmettal Automotive
AG, Hitachi Automotive Systems, Aisin Seiki and Mahle GMbH. There are few
players in this market which makes this market moderately competitive. But the
players always concentrate on manufacturing and launching new products.
Advertising and other marketing strategies are also part of their success
strategy.
Tenneco (Federal-Mogul Holding LLC) declared to be the provider of
the complete engine compartment for Chevrolet Corvette including pistons,
bearings, piston rings and other products in March, 2020.
In 2021, Rheinmettal collaborated with Riken Corporation and ZYNP
corporation to open a new centre for technology in Nanjing, China. This centre
will develop and launch new types of complete piston system.
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