Feb 16, 2022   SOURCE: BusinessWire

Global Automotive Piston Market Forecast to 2028 - COVID-19 Impact and Analysis - ResearchAndMarkets.com

The "Global Automotive Piston Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material Type (Steel and Aluminum); Coating Type; Vehicle Type; and Piston Type" report has been added to ResearchAndMarkets.com's offering.

The automotive piston market was valued at US$ 3879.92 million in 2021 and it is projected to reach US$ 5,815.15 million by 2028; it is expected to grow at a CAGR of 6.0% from 2021 to 2028.

Increasing production of ICE vehicles and growing usage of lightweight pistons for improved engine performance are attributing to the growth of the automotive piston market. Increasing technological advancements, such as hydrogen-fueled piston engines, are bolstering the sales of automotive pistons due to increasing demand for electric vehicles. The global automotive piston market is segmented into five major regions-North America, Europe, Asia Pacific, the Middle East and Africa, and South America. The presence of many manufacturing facilities and a large consumer base in countries, such as China, India, and Japan, are major factors fueling the growth of the automotive piston market in APAC.

In APAC, China is the largest passenger car manufacturer, and it produced ~20 million passenger cars in 2020. India accounts for the largest number of two-wheeler registrations. Japan accounts for ~10.5% of all vehicles manufactured globally. Europe holds the second-largest share of the automotive piston market as funding provided by the European Commission is enabling the region to strengthen its competitiveness and maintain global technological leadership.

There are various market players such as MAHLE GmbH; Tenneco Inc.; Aisin Seiki Co., Ltd.; Hitachi Astemo Americas, Inc; and Rheinmetall Automotive who are engaged in making transportation efficient, environmentally friendly, and comfortable. Also, the increasing government initiatives to promote the use of clean energy are enabling automotive engine manufacturers to adopt lightweight hybrid composite materials that provide improved properties over the commercially available aluminum-based components, which is driving the demand for automotive pistons.

The sudden COVID-19 outbreak pandemic has hampered the production activities in the global automotive sector. Inadequate raw material supply has disrupted economies and weakened production, leading to a collapse in demand. As the automotive market is witnessing a high demand after the slowing down of the COVID-19 outbreak, major automakers and OEMs are actively focusing on innovations and prototypes of engines to meet consumer preferences for high-performance and fuel-efficient automobiles. On the other hand, due to business lockdowns, travel bans, and supply chain disruptions are negatively impacting the market growth.

The automotive piston market is segmented on the basis of material type, coating type, vehicle type, and piston type, and geography. Based on material type, the market is bifurcated into compact steel and aluminum. Based on coating type, the automotive piston market is segmented into thermal barrier piston coating, dry film lubricant piston coating, and oil shedding piston coating. Based on vehicle type, the market is segmented into two wheelers, passenger vehicles, and commercial vehicles. Based on piston type, the market is segmented into flat-top piston, dome piston, and dish piston. Geographically, the global automotive piston market is broadly segmented into North America, Europe, Asia Pacific, and the Middle East and Africa (MEA), and South America (SAM). In 2020, APAC accounted for a significant share in the global market.

A few key players operating in the global automotive piston market and profiled in the market study are Arias Pistons; Art Metal Manufacturing Co, Ltd; Capricorn Motors Pvt. Ltd.; QUFU JINHUANG PISTON CO.,LTD; Hitachi Astemo Americas, Inc; RIKEN Corporation; MAHLE GmbH; Tenneco Inc.; Rheinmetall Automotive; and Binzhou Bohai Piston Co., Ltd.

Reasons to buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global automotive piston market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

  • Massive Production of ICE Vehicles
  • Use of Lightweight Pistons for Improved Engine Performance

Restraints

  • Surge in EV Manufacturing and Operational Disadvantages of Automotive Pistons

Opportunities

  • Continuous Technological Advancements

Future Trends

  • Increasing Demand for Electric Vehicles

Companies Mentioned

  • Arias Pistons
  • Art Metal Mfg., Ltd
  • Capricorn Automotive
  • QUFU JINHUANG PISTON CO.,LTD
  • Hitachi Astemo Americas, Inc
  • RIKEN Corporation
  • MAHLE GmbH
  • Tenneco Inc.
  • Rheinmetall Automotive Ag
  • Shandong Binzhou Bohai Piston Co., Ltd

For more information about this report visit https://www.researchandmarkets.com/r/qamo48