PORTLAND, Oregon, January 9, 2019 /PRNewswire/ --
Increase in automotive sales worldwide coupled with rise in need for lightweight pistons and double cylinder engines in premium bikes would propel the growth of the global automotive piston market
Allied Market Research published a report, titled, "Automotive Piston Market : Global Opportunity Analysis and Industry Forecast, 2018-2025." The report provides extensive analyses of the top investment pockets, driving forces & opportunities, value chain, key market segments, market players, and competitive landscape. According to the report, the global automotive piston market generated $8.68 billion in 2017, and is expected to garner $13.39 billion by 2025, growing at a CAGR of 5.4% from 2018 to 2025.
Upsurge in automotive sales across the globe, increased use of lightweight pistons to improve engine performance, and increased demand for double cylinder engine premium bikes drive the growth of the market. However, rise in penetration of electric vehicles and oversized engines hinder the market growth. On the other hand, increase in industrialization & urbanization and high wear & tear of components of engines would create new pathways in the market.
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Aluminum segment to maintain its lion's share through 2025
Aluminum segment contributed nearly two-thirds share of the total market in 2017 and is expected to maintain its lead through 2025. This is attributed to its characteristics such as resistance to thermal expansion, low maintenance, and optimum mechanical performance. However, the steel segment is expected to register the highest CAGR of 5.7% from 2018 to 2025, owing to its properties such as higher tensile strength, smoother functioning, and longer fatigue life than aluminum.
Dry film lubricant piston coating segment to contribute highest revenue share by 2025
Dry film lubricant piston coating segment held the major share in the market in 2017, contributing nearly half of the total market revenue. This segment is expected to maintain its dominance throughout the forecast period, owing to need for effective lubrication and improvement in fuel efficiency. However, thermal barrier piston coating segment would grow at the highest CAGR of 5.9% from 2018 to 2025, owing to increasing requirement to enhance overall engine performance as well as growing demand to improve thermal efficiency. Furthermore, the oil shedding piston coating segment would grow at a steady rate during the forecast period.
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Commercial vehicle segment to retain its highest revenue share through 2025
Commercial vehicle segment is expected grow at the highest CAGR of 6.0% from 2018 to 2025, owing to growth in manufacturing and construction industry in developing countries such as China and India, which in turn would boost the demand for commercial vehicles. Moreover, strong demand from logistics infrastructure and increased need for heavy commercial vehicles for transportation, mining, and others would facilitate the growth of the segment. However, two wheelers garnered the highest revenue in 2017, contributing about two-fifth share of the total market revenue, owing to the fact that global sales of two wheelers segment are the largest among all the segment of the automotive sector due to its high demand from both urban and rural areas. In addition, the penetration of this segment in most of the emerging countries is higher as it the most cost effective form of vehicle. Moreover, latest innovations and experiments in piston technology are being done to cater to the growing demand for sports and premium two wheeler vehicles. The report also analyzes the passenger vehicle segment.
Crosshead pistons segment to lead throughout the forecast period
Crosshead pistons accounted the major share in terms of revenue, contributing more than one-fourth share of the total market revenue in 2017. This segment is expected to maintain its lead position throughout the forecast period. This is on account of their characteristics such as low thermal distortion and high fuel efficiency. However, deflector pistons segment would grow at the highest CAGR of 6.3% during the forecast period due to increase in usage of double cylinder engines, and rise in. The research also analyzes the trunk pistons and slipper pistons segments.
European Automotive Piston Market to register fastest growth through 2025
The automotive piston market in Europe would grow at the highest CAGR of 7.1% from 2018 to 2025, owing to surge in automobile sales and need for lightweight pistons to improve engine performance. However, Asia-Pacific market contributed to the highest share in 2017, accounting for more than one-third of the total revenue, owing to continuous developments in the automotive sector, rise in production of passenger & heavy commercial vehicles, and high rate of adoption.
Major market players
The leading market players analyzed in the report include Mahle GmbH, KSPG AG, Aisin-Seiki Co. Ltd., Federal-Mogul, Hitachi Automotive Systems, Shriram Piston and Rings, Indian Piston Limited, Capricorn Automotive, Arias Piston, and Ross Racing Piston. These players have adopted different strategies including partnerships, expansions, mergers & acquisitions, joint ventures, collaborations, and others to gain a strong position in the industry.
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SOURCE Allied Market Research