(MENAFN- GlobeNewsWire - Nasdaq) Pune India, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the automotive piston market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the automotive piston market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as material type, piston coating type, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
The significant players operating in the global automotive piston market are Aisin-Seiki Co. Ltd., Federal-Mogul, Capricorn Automotive, KSPG AG, Mahle Gmbh, Shriram Piston and Rings, Hitachi Automotive Systems, Indian Piston Limited, Arias Piston, Ross Racing Piston among others. To achieve a substantial market share in the worldwide automotive piston market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Automotive piston is an essential part of the internal combustion engine which converts fuel into power to drive your vehicle forward by converting it into energy. In the cylinders, gas expands and transfers force to the crankshaft, turning the wheels by way of a moving component called the piston. As automotive component manufacturers focus on developing a variety of engine components and systems, including infinitely variable and incrementally variable valve trains, cam shafts, concentric shafts, and engine pistons, the market for automotive pistons will grow as a result of improved vehicle efficiency. Increasing automobile sales, including two-wheelers, four-wheelers, and other automobile segments, is expected to boost the global automotive piston system market. As automotive demand rises, especially in emerging economies like India, the demand for pistons is expected to rise even more, positively impacting the global market for automotive pistons. In addition to an increase in electric vehicle sales, the automotive piston system market is experiencing a slowdown. Due to an increase in regulatory norms by various organizations and governments to control emissions and promote zero-emission vehicles, the spike in sales has been caused by this rise in electric vehicle sales. There are some factors which are hampering the growth of the market such as engine downsizing and rising demand for electric vehicles.
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Scope of Automotive Piston Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Material, Piston Coating Type, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Aisin-Seiki Co. Ltd., Federal-Mogul, Capricorn Automotive, KSPG AG, Mahle Gmbh, Shriram Piston and Rings, Hitachi Automotive Systems, Indian Piston Limited, Arias Piston, Ross Racing Piston among others |
Segmentation Analysis
Aluminium is expected to be the fastest-growing segment in 2022.
The material segment is steel and aluminum. The aluminium segment is expected to witness the highest growth rate during the forecast period. An internal combustion engine piston that reciprocates in a cylinder at high temperatures and high pressures must be strong and durable, as well as lightweight, so that it can withstand the high pressures and temperatures. A piston of this type is made of aluminum, which is commonly used as a material.
Thermal barrier coating piston is expected to be the fastest-growing segment in 2022.
The piston coating type segment is thermal barrier coating piston, dry film lubricating coating piston, and oil shedding coating piston. The thermal barrier coating piston segment is expected to witness the highest growth rate during the forecast period. In order to improve the engine's overall combustion efficiency, the piston top is treated with thermal barriers (TBC), which reduce the migration of heat, rather than absorbing it.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the automotive piston market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The Asia Pacific region witnessed a major share. In addition to the presence of major original equipment manufacturers in China, India, and Japan as well as the aftermarket, Asia-Pacific will dominate the automotive piston pin market. As the e-commerce industry expands, the shipbuilding industry's supply chain network is becoming more established, increasing the demand for material handling and cargo transportation vehicles.
Country Analysis
Germany's automotive piston market size was valued at USD 1.75 billion in 2022 and is expected to reach USD 2.32 billion by 2030, at a CAGR of 5.2% from 2023 to 2030.
Growing consumer demand for light, heavy, and passenger cars is fueling the industry's growth. In the coming years, the growing trend of lighter and fuel-efficient automobile engines, driven by increasing eco-consciousness and the implementation of strict emission standards, is expected to drive the market.
China's automotive piston market size was valued at USD 1.98 billion in 2022 and is expected to reach USD 3.08 billion by 2030, at a CAGR of 5.4% from 2023 to 2030.
In emerging markets like China, two-wheelers are expected to dominate the passenger vehicle category during the forecast period, boost the market growth. Moreover, increasing R&D in the automotive sector is expected to further propel the market.
India's automotive piston market size was valued at USD 1.76 billion in 2022 and is expected to reach USD 2.37 billion by 2030, at a CAGR of 5.3% from 2023 to 2030.
The market growth in the country is boosted by increased vehicle production and sales in the region, the adoption of advanced technologies to develop fuel-efficient and lightweight vehicles, stringent government regulations, and ongoing projects.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising manufacturing in the automotive sector.
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