Nov 16, 2022   SOURCE: BusinessWire

The Worldwide Steel Piston Industry is Expected to Reach $2.6 Billion by 2027 at a 2.88% CAGR - ResearchAndMarkets.com

The "Global Steel Piston Market Size, Trends and Growth Opportunity, By Component, By Coating Type, By Vehicle Type, By Fuel Type, By Shape, By Region and Forecast to 2027." report has been added to ResearchAndMarkets.com's offering.

The Global Steel Piston Market was valued at USD 2,173.40 million in 2021 and is slated to reach at USD 2,677.41 million by 2027 at a CAGR of 2.88% from 2022-2027.

Companies Mentioned

  • Federal-Morgul Corporation
  • Mahle GmbH
  • Shriram Pistons & Rings Ltd.
  • Aisin Corporation
  • Rheinmetall AG
  • Ming Shun Industrial Co. Ltd
  • Elgin Industries
  • SAMKRG
  • PIERBURG
  • Abilities India Pistons & Rings Ltd.

A piston is a sliding element that slides by or slides against fluid pressure. It typically has a short cylindrical body that fits inside of a cylindrical chamber or vessel along which it moves back and forth. Due to their possible combustion and thermodynamic advantages, which favour fuel economy and lower pollution levels, steel pistons are significantly stronger than aluminium ones. Two of the main benefits that have been primarily attributed to steel pistons are piston cooling and enhanced ring land wear qualities.

Market Drivers

The market's upsurge for automotive components like steel pistons is highly linked with the expansion of the car manufacturing industry. Due to the fact that steel pistons are now a standard in all types of vehicles sold on the worldwide economy, the increasing demand for vehicle production is therefore predicted to also fuel the expansion of the steel piston market. Steel raw materials are utilised to create steel pistons, assuring its sturdiness, lifespan, and high level of corrosion resistance.

Additionally, the steel piston is stronger than alternative possibilities, which aids in the acceleration of vehicles using less energy and fosters favourable demand prospects for steel pistons on the international market. Global demand for steel pistons is anticipated to increase as a result of these causes.

High-end purchasers make significant financial investments in the upkeep and servicing of their vehicles. As an outcome, there will be a very substantial increase in demand for aftermarket parts like steel pistons, etc.

It is anticipated that these expanding OEM and aftermarket activities will generate significant growth prospects for steel pistons during the next years in the global market. Additionally, growing strategic alliances and the number of newly developing markets will function as market drivers and generate favourable chances for the market's growth rate.

Market Restraints

The market's potential to make toward electric vehicles is the main hindrance for the steel piston industry. The market is being introduced to new technology by the manufacturing industry's stakeholders for engine downsizing. They are reducing the demand for steel pistons, which could be a big impediment to the market's expansion for steel pistons.

Market Segmentation

By Component

  • Piston Head
  • Piston Ring
  • Piston Pin

By Coating Type

  • Dry Film Lubricant
  • Thermal Barriers
  • Oil Shedding Coatings.

By Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicle (LCV)
  • High Commercial Vehicle (HCV).

By Fuel Type

  • Gasoline
  • Diesel
  • Alternate Fuel.

By Shape

  • Flat-Top Piston
  • Bowl Piston
  • Dome Piston.

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa.

For more information about this report visit https://www.researchandmarkets.com/r/d1drkd