The increasing demand for automobile, especially in emerging economies, is expected to drive the global Automotive Piston Systems Market in the coming decade. As a piston is an essential part of an internal combustion engine, the demand for pistons is directly coupled with the automobile production. Owing to the continuous developments, the automobile sector is witnessing increased demand for lightweight pistons, which is expected to result in push for the global automotive piston system market.
The automotive piston system market was worth US$ 3,880.91 Million in 2021 and is expected to be worth US$ 4,080.95 Million in 2022. Furthermore, the market is poised to reach US$ 6,415.14 Million by 2032, growing at a CAGR of 4.6% from 2022 to 2032.
A piston is a key component of automobile internal combustion engine, which reciprocates within the cylinder, delivering energy to the crankshaft after each power stroke during an engine cycle.
Automotive Piston System Market: Drivers & Constraints
The global automotive piston system market is expected to grow on account of increasing sales of automobiles across various segments such as two wheelers, four wheeler, and other automobile segments. With increasing demand for automobiles, especially two wheeler segment in emerging economies such as India, demand for pistons is expected to increase further thereby positively impacting the global automotive piston system market.
Furthermore, the two wheelers is increasingly moving towards double cylinder engines as opposed to conventional single cylinder engines, particularly in the high end bikes segment. A double engine cylinder requires two pistons as compared to a single cylinder, wherein only one piston is used, hence with increasing production of high end bikes, the global automotive piston system market is expected to grow as well. Demand for passenger car, light & heavy commercial vehicle is also expected to contribute towards the growth in global automotive piston system market in coming years.
Additionally, due to burgeoning fuel costs across the globe, the automobile industry is in continuous phase of research & development in order to increase fuel efficiency. The global automotive piston system market is hence witnessing an increased demand for light weight pistons across the globe.
One of the key constraints for the global automotive piston market can be attributed to the increasing penetration of electric vehicles, which do not use pistons. Yet another constraint in the global automotive piston system market is the downsizing of engines in order to reduce weight and fuel increase efficiency. Using technologies such as turbocharger, automobile manufacturers have been able to downsize engines by reducing number of cylinders, without compromising on power of the engine.
Automotive Piston System Market: Segmentation
The automotive piston system market has been segmented on the basis of types of vehicle such as two wheelers, passenger cars, light commercial vehicles, and heavy commercial vehicles. On the basis of piston material, the market has been segment as aluminium & steel piston. Increasing demand for lightweight aluminium piston is expected to have a positive impact on the global automotive piston system market in coming years.
In terms of geography, the global automotive piston system has been divided in to seven key regions including North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Middle East & Africa and Japan. Within these regions, the Asia-Pacific excluding Japan (APEJ) and Japan can be attributed as the largest contributing regions towards the global automotive piston system market, in terms of volume. The North American region is follows the aforementioned regions in the global automotive piston system market.
Automotive Piston System Market: Key Players
The global automotive piston system witnesses key players such as Rheinmetall AG, Aisin-Seiki Co. Ltd., Mahle GmbH, Federal-Mogul Corporation, and Hitachi Ltd.
This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market segments, regions, and product type.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, N. Africa)
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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