The global automotive piston system market is anticipated to propel at a phenomenal CAGR of 4.6% from 2022 to 2032. The global market was evaluated at US$ 4,080.95 Million in 2022 and is poised to reach US$ 6,415.14 Million by 2032. As per the historic analysis conducted by Future Market Insights, the global automotive piston system market was worth US$ 3,880.91 Million in 2021.
Over the course of the next ten years, the global market for automotive piston systems is anticipated to be driven by the escalating demand for automobiles, particularly in emerging countries. Since a piston is a crucial part of an internal combustion engine, the output of cars is inextricably linked to the demand for pistons.
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Due to current developments, the market for automotive piston systems is expected to grow due to the increasing demand for lightweight pistons in the automotive sector.
Key Takeaways
- The global automotive piston system market is predicted to augment as much as automobile sales in numerous segments including two-wheelers, four-wheelers, and other automobile segments increase.
- With propelling automobile demand, specifically within the two-wheeler segment across emerging economies such as India, demand for pistons is expected to rise even more, positively impacting the global automotive piston system market.
- The two-wheeler industry is rapidly favoring double-cylinder engines as compared to traditional single-cylinder engines. This is common within the high-end bike segment. Since a double engine cylinder requires two pistons as opposed to a single cylinder, it further requires only one piston. The global automotive piston system market is expected to grow in tandem with the increased production of high-end motorcycles.
- Over the coming years, propelling demand for passenger cars, and heavy commercial vehicles are expected to contribute to the growth of the global automotive piston system market.
- Due to the rising fuel costs all over the world, the automobile industry is in a constant state of research and development in order to improve fuel efficiency. As a result, the global automotive piston system market is seeing an increase in demand for lightweight pistons.
- One of the primary challenges faced by the global automotive piston market is the rising penetration of electric vehicles. These vehicles are not accustomed to using pistons. In addition to that, another constraint within the global automotive piston market is engine downsizing to reduce weight and increase fuel efficiency.
- Automobile manufacturers are known to be able to downsize engines by significantly reducing the number of cylinders while simultaneously maintaining engine power by using technologies such as turbochargers. These aforementioned factors are expected to pose a major threat to the sales of the automotive piston system market over the assessment period.
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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.
Key Segments Covered in the Automotive Piston System Industry Report
Vehicle Type:
- Two Wheelers
- Passenger Cars
- LCV
- HCV
Piston Material:
- Aluminium
- Steel
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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.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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