Automotive Piston Market: Introduction
- Global restrictions on vehicle fuel consumption and emissions, enacted by various regulatory authorities, are prompting automakers to improve engine efficiency. Presently, gasoline and diesel engines are expected to use less fuel and produce fewer emissions.
- Automotive component manufacturers are focused on the development of various engine components and systems including infinitely variable and incrementally variable valve train systems, camshafts, concentric shafts and engine piston. This, in turn, is expected to improve vehicle efficiency and subsequently, drive the automotive piston market.
Key Drivers of Automotive Piston Market
- Increase in environmental awareness coupled with stringent government regulations regarding vehicle fuel efficiency are prompting automakers to develop lightweight engine components including camshaft, piston, piston rings, vehicle axle, engine cylinder, crank, and crank shaft. For instance, using a cast aluminum alloy piston to manufacture piston reduces the weight of the engine assembly. Lightweight vehicle components reduce the overall weight of the vehicle. This reduced weight is likely to increase the fuel-efficiency of an engine and subsequently, boost the automotive piston market.
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Automotive Piston Market: Restraint
- Rising trends toward electric vehicles (EVs) is likely to hinder the automotive piston market. Electric motors in EVs completely replace IC-engines, which in turn is estimated to hamper the automotive piston market.
- Most of developed and developing nations are enacting stringent regulations pertaining vehicle emissions, which are likely to prompt automakers to adopt alternate fuel technology such as electric propulsion systems. For instance, CAFÉ regulations enacted in Europe and the U.S. mandate automakers to increase the fuel-efficiency of their vehicles by 2030.
Asia Pacific to dominate automotive piston market
- In terms of region, the global automotive piston market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Asia Pacific is expected to hold a major share of the global automotive piston market owing to the increase in production and sale of passenger vehicles across China, South Korea, and India.
- Asia Pacific has presence of strong economies including China, Japan, India, and South Korea among other nations. Expansion of the e-commerce industry coupled with presence of well-established supply chain network catering to shipbuilding industry, automobile productions, and heavy machinery manufacturing is increasing the demand for vehicles for material handling and cargo transportation. This, in turn, is expected to drive the automotive piston market in the region.
- However, disruptions in supply chain catering to the automobile industry, owing to shutdown of production and manufacturing facilities and raw material shortage caused by corona pandemic across the world, is estimated to contract the market in 2020. The coronavirus pandemic has hampered the global automotive piston market. The market is anticipated to recover through economic losses by increasing production volume of vehicle components as well as vehicle production in 2021. This, in turn, is projected to offer lucrative opportunity to players operating in the supply chain of the automotive piston market during the forecast period.
Key Players Operating in Automotive Piston Market
The global automotive piston market is highly concentrated due to the presence of top manufacturers. A few key players operating in the automotive piston market are:
- Aisin Seiki Co., Ltd.
- Art Metal Mfg. Co. Ltd.
- Federal-Mogul Corporation
- Grover Corporation
- Hitachi Ltd.
- India Pistons & Rings Ltd.
- MAHLE GmbH
- Omega Pistons
- Rheinmetall Automotive AG
- RIKEN CORPORATION
- Samkrg Pistons & Rings
- Shriram Pistons & Rings Ltd.
- Tenneco Inc.
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Global Automotive Piston Market: Research Scope
Global Automotive Piston Market, by Application
- Two Wheelers
- Three Wheelers
- Passenger Vehicles
- Commercial Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Buses & Coaches
Global Automotive Piston Market, by Fuel Type
Global Automotive Piston Market, by Component
- Piston Ring
- Compression Rings
- Wiper Rings
- Oil Rings
- Piston Pin
Global Automotive Piston Market, by Material Type
Global Automotive Piston Market, by Piston Coating
- Dry Film Lubricants
- Thermal Barriers
- Oil Shedding
Global Automotive Piston Market, by Piston Shape
Global Automotive Piston Market, by Sales Channel
Global Automotive Piston Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa