The connecting rod is a shaft used in a vehicle to transfer the motion of the piston to the crankshaft. The connecting rod is placed inside the engine cylinder and is subjected to high combustion temperature and pressure.
The steady demand for internal combustion engine-powered vehicles is a major driver of the connecting rod market. The connecting rod is an integral part of the combustion engine and factors such as drivability and engine stability are fuelling the demand for connecting rods. Rising concerns pertaining to carbon emissions are prompting the need to downsize the engine. Lighter connecting rods reduce the inertia force on engines and permits the usage of smaller balancing weight on the crankshaft. Automakers are being compelled to reduce the weight of connecting rods in order to comply with emission regulations. Titanium connecting rods are witnessing an increased demand owing to their light weight. The high strength and durability of a powder forged connecting rod is gaining preference in the gasoline market and is estimated to drive the connecting rod market. The emergence of flex fuel engines and their increased penetration in North America and Latin America is estimated to drive the connecting rod market.
Incentives and government emphasis on increasing production of battery electric vehicles is a restraining factor for the connecting rod market.
The global connecting rod market can be segmented based on material, process, vehicle, engine, sales channel, and region. Based on material, the global connecting rod market can be segmented into three segments. The aluminum segment held a prominent share of the market owing to its affordability yet excellent working drive.
In terms of process, the global connecting rod market can be segregated into three segments. The cast connecting rod segment held a significant share of the global market owing to its ease of manufacturing and usage in all type of gasoline and diesel engines.
Based on engine type, the global connecting rod market can be classified into five segments. Four-cylinder engine is the leading segment owing to its high consumer preference and engine stability.
In terms of vehicle type, the connecting rod market can be segmented into passenger vehicle and commercial vehicle. The passenger vehicle segment is estimated to lead the market owing to increased demand for passenger vehicles in developing countries.
Based on sales channel, the connecting rod market can be segregated into OEM and aftermarket. The OEM segment held a major share of the market.
In terms of region, the connecting rod market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Tax relief on small engine vehicles in China is estimated to fuel the production of passenger vehicles in China, expansion of the auto industry in India and low import duties on Japanese automobiles in Europe are key factors fuelling the connecting rod market in Asia Pacific.
Key players operating in the global connecting rod market include Cummins Inc., Linamar Corporation, Wiesco Piston Company Inc., Wossner Pistons, MAHLE GmbH, Pauter Machine, JD Norman Industries, Jingqiang Connecting Rod, Arrow Precision, and Tianrun Crankshaft.
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