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.
Market Overview:
The increasing demand for automotive piston in ICE vehicles to achieve fuel efficiency, reduce emissions, and enhance flexibility and reliability is driving the automotive piston market. In addition to growing economies, rise in disposable income and expectations in terms of convenience are among the factors bolstering the sales of passenger cars, further boosting the automotive piston market. Demand for advanced and high-tech features, and technological innovations as well as concerns regarding environmental safety are compelling OEMs to focus on the production and adoption of highly accurate and high-performance piston designs, thereby promoting the development of long-lasting pistons that can withstand stress, and wear and tear caused by engine operations. Mechanical simplicity, flexibility and reliability, and multi-fuel capabilities are among the other features driving the adoption of automotive pistons.
The automotive piston market is witnessing increasing demand for small-bore pistons, large-bore pistons, bearings, and castings that contribute to weight reduction, emission reduction, and improved performance due to which there is an increasing in the demand of automotive piston in various vehicle type for making vehicle more efficient and light-weight. Also, the Increasing production of internal combustion engine (ICE) vehicles is boosting the demand for automotive pistons to achieve fuel efficiency, reduce emissions, and enhance flexibility and reliability. The use of lightweight pistons leads to a reduction in engine weight. It benefits ICE vehicles through greater fuel efficiency and pollution reduction. The automotive pistons manufactured using lightweight hybrid composite materials are ~25% lighter than those made from conventional materials. Moreover, the former enables cost-saving of over 62%. Thus, the performance and cost benefits of lightweight pistons are encouraging the participants in the automotive sector to invest in innovative designs, which is bolstering the growth of the automotive piston market.
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In 2020, the world economy suffered significant consequences due to the COVID-19 outbreak pandemic, and the effects are expected to endure to some extent in the coming years. The outbreak has led to disruptions in primary industries, such as electronics, semiconductor, and automotive. A sharp decline in the growth of mentioned industries is limiting the growth of the automotive piston market. Factory shutdowns, travel and trade bans, and border lockdowns to combat and contain the spread of infection which have negatively impacted the working of many commercial and corporate buildings across the world.
Key Findings of Study:
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. In 2020, the aluminum segment led the market and accounted for a larger market share. Based on coating type, the market is segmented into thermal barrier piston coating, dry film lubricant piston coating, and oil shedding piston coating. In 2020, the thermal barrier piston coating segment led the market and accounted for the largest market share. Based on vehicle type, the automotive piston market is segmented into two wheelers, passenger vehicles, and commercial vehicles. In 2020, the passenger vehicles segment led the market and accounted for the largest market share. The global automotive piston market, by geography, is segmented into five major regions—North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Automotive Piston Market: Piston Type Overview
Based on piston type, the automotive piston market is segmented into flat-top piston, dish piston, and dome piston. Predicted developments in the automation industry would fuel the growth of the automotive piston market. Automotive pistons are widely used by OEMs and manufactures such as Ford Motor Company, Tesla, BMW, Porsche, Daimler, Toyota, Honda, Nissan, Renault, RAM, VW, Hyundai, Fiat Chrysler Automobiles, and General Motors Company.
Automotive Piston Market: Competitive Landscape and Key Developments
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. are among the key players profiled during the study of the automotive piston market. In addition to these players, several other essential market players were studied and analyzed to get a holistic view of the market and its ecosystem.
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