The tappet market for automotive is projected to grow at a CAGR of 3.36% from 2017 to 2025, to reach a market size of USD 10.11 Billion by 2025.
The market growth is primarily driven by an increase in passenger vehicles production. Also, the growth of the commercial vehicles segment, which can be attributed to the improving business environment for fleet operators and a rise in demand from the construction and mining sectors, drives the growth of the automotive tappet market.
Roller tappets are estimated to be the fastest growing segment of the global tappet market for automotive. The growing trend of engine downsizing without compromising the performance of the engine is driving the market for roller tappets.
The 4-6 cylinder segment is estimated to be the largest segment of the tappets market for automotive, by engine capacity. Stringent emission regulations in several regions and the demand for high-performance vehicles with the smaller engine are the major factors driving the growth of the 4-6 cylinders segment.
Luxury passenger cars are estimated to be the fastest growing segment of the tappet market for automotive, by end user type. The growth of this segment can be attributed to a significant number of luxury vehicles in Europe and North America and increasing demand for these vehicles in Asia Pacific owing to increasing purchasing power and demand for more powerful vehicles.
Asia Pacific is estimated to dominate the tappet market for automotive, by volume as well as value. The region comprises countries such as China and India, which are witnessing a huge demand for passenger and commercial vehicles. The demand for automotive tappets is directly linked to the vehicle production and consumer demand in this region. Also, favorable government policies for the manufacturers and infrastructural developments have boosted the demand for passenger cars and commercial vehicles, which is further expected to boost the growth of the automotive tappet market in this region.
A key factor restraining the growth of the automotive tappet market is the increasing adoption of electric vehicles. Unlike ICE, an electric engine does not require the automotive tappet, as there are no inlet and outlet valves. Several OEMs are focusing on the development of alternative fuel type powertrain technologies to meet the stringent emission regulations set by the government and, more importantly, hold a competitive advantage in the market.
Some of the key market players in the automotive tappet market are Schaeffler (Germany), SKF (Sweden), Eaton (Ireland), Federal-Mogul (US), Otics Corporation (Japan), and NSK (Japan).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Technological Overview
7 Tappet Market for Automotive, By Type
8 Tappet Market for Automotive, By Engine Capacity