The global automotive piston system market is projected to grow at a notable CAGR of 4.6% from 2022 to 2032. Valued at USD 4,080.95 million in 2022, the market is expected to reach USD 6,415.14 million by 2032. According to historical analysis by Future Market Insights, the market was worth USD 3,880.91 million in 2021.
The market’s growth over the next decade is anticipated to be driven by the rising demand for automobiles, especially in emerging economies. Since pistons are essential components of internal combustion engines, the production of vehicles directly influences the demand for pistons.
Current trends indicate that the market will benefit from the increasing demand for lightweight pistons in the automotive sector, further propelling growth in the automotive piston system market.
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Key Takeaways
- The sales of cars in a variety of categories, including two-wheelers, four-wheelers, and other automobile segments, are expected to rise along with the global automotive piston system market.
- The demand for pistons is anticipated to increase even further due to the booming automobile market, particularly in the two-wheeler segment across emerging countries like India. This will favourably affect the global automotive piston system market.
- As opposed to conventional single-cylinder engines, double-cylinder engines are quickly becoming more popular in the two-wheeler business. Within the high-end cycling market, this is typical. Additionally, it only needs one piston because a double engine cylinder requires two pistons as opposed to one. The global automotive piston system market is anticipated to grow in tandem with the increased production of high-end motorcycles.
- In the upcoming years, it is anticipated that rising demand for passenger automobiles and heavy commercial vehicles will fuel the expansion of the global automotive piston system market.
- The automobile business is constantly conducting research and development to increase fuel efficiency because fuel prices are rising globally. As a consequence, there is an increase in demand for lightweight pistons on the global market for automotive piston systems.
- The growing use of electric vehicles is one of the biggest issues the global automotive piston industry is currently dealing with. Pistons are not typically used in these cars. Additionally, engine downsizing for lighter, more fuel-efficient engines is another restriction on the worldwide automotive piston market.
- Utilizing technologies like turbochargers, automakers are able to downsize engines by greatly reducing the number of cylinders while still keeping engine power. Over the course of the evaluation period, the aforementioned factors are anticipated to pose a serious threat to the market for automotive piston systems.
Competitive Landscape
Prominent players in the global automotive piston system market are focusing on adopting strategies of new product development in order to retain their leading position in the automotive piston market.
Some of the key participants present in the global Automotive piston system market include MAHLE GmbH (Germany), Aisin Seiki Co., Ltd. (Japan), Rheinmetall Automotive AG (Germany), Tenneco Inc. (US), and Art Metal Mfg. Co. Ltd. (Japan). MAHLE GmbH adopted the strategies of new product development to retain its leading position in the automotive piston market.
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Key Segments Covered in the Automotive Piston System Industry Report
Vehicle Type:
- Two Wheelers
- Passenger Cars
- LCV
- HCV
Piston Material:
- Aluminium
- Steel
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East & Africa
More Insights into the Automotive Piston System Market
Throughout the forecast period, Asia Pacific is expected to dominate the global automotive piston system market by accounting for the largest share of the market. Furthermore, the largest share on the basis of vehicle production is attributed to the Asia Pacific market. This segment is expected to be dominated by affordable vehicles. The majority of which are hatchbacks, compact sedans, and compact SUVs. Moreover, the majority of these vehicles are powered by a four-cylinder engine. Given these considerations, the passenger car segment is expected to have the highest demand for pistons in the coming years.
Europe is anticipated to create lucrative growth opportunities over the projection period as it is home to major automotive assembly and production plants. In Europe, there have been estimated 297 vehicle assembly plants. Furthermore, the need for lightweight pistons to improve performance is the primary factor driving the growth of the European automotive piston market.
The European automotive piston market is expected to augment over the assessment period at an impressive CAGR of 5.4% from 2022 to 2032. The market is propelling due to several technological advancements in ICEs, such as intelligent combustion management systems and fuel efficiency improvements to achieve power advantages and lower emission levels, which are emerging as new trends supporting the growth of the European automotive piston market.
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