The automotive piston systems market is primarily driven by the increasing demand for fuel-efficient vehicles. The rising concerns over greenhouse gas emissions and the need to reduce dependency on fossil fuels are some of the other key factors driving the market.
The stringent emission norms set by various government bodies are another major factor boosting the demand for automotive piston systems. The growing automotive industry in emerging economies is also expected to create new opportunities for market players in the coming years.
The market for automotive piston systems is propelled by the rise in interest in lightweight, fuel-efficient cars. The automobile industry has developed new technologies in response to the growing concern over greenhouse gas emissions, which is anticipated to fuel the market for automotive piston systems during the forecast period.
Aluminum pistons are widely used in passenger vehicles owing to their lightweight and good thermal conductivity. Steel pistons are used in heavy-duty vehicles such as commercial vehicles and buses due to their high strength and durability.
An automotive piston system refers to the assembly of parts that work together to create the up-and-down motion of a piston within an engine. The piston, rings, connecting rod, and crankshaft are all part of it. The main function of the piston system is to convert energy from the expanding gases of combustion into mechanical energy that can be used to power a vehicle.
There are two types of automotive piston systems: aluminium pistons and steel pistons. Aluminium pistons are lighter in weight than steel pistons and therefore offer better fuel economy. However, they also cost more money. Steel pistons are heavier yet stronger and more long-lasting.
Applications for automotive piston systems include passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). They are typically utilised in four-cylinder passenger car engines. While HCVs can need eight or even 10-cylinder engines, LCVs must have six-cylinder engines.
The automotive piston systems market is expected to be valued at USD 24.4 billion by 2031, growing at a CAGR of 5.5% from 2021 to 2031.
Pistons are an essential component of internal combustion engines, and their performance has a direct impact on the overall efficiency of the engine. Piston systems are available in different materials, such as aluminium and steel, and can be customized according to the specific requirements of the engine.
One of the key reasons propelling the market for automotive piston systems is the growing need for fuel-efficient automobiles. pistons play a vital role in controlling the combustion process in internal combustion engines and help optimize fuel efficiency. In addition, the increasing production of vehicles equipped with turbocharged engines is also propelling market growth. High-performance pistons that can endure greater temperatures and pressure levels are necessary for turbocharged engines.
The market for automotive piston systems is constrained by the erratic cost of raw materials.
The cost of aluminium and steel, the two primary raw materials used in the manufacture of automotive piston systems, fluctuates frequently. This volatility affects the overall cost of production for automotive piston systems and, consequently, the selling price of these products. Additionally, the automotive piston systems market is also restrained by the stringent emission norms set by various regional governments.
Automotive piston systems must meet these emission norms in order to be used in vehicles. This has led to increased research and development costs for manufacturers as they strive to produce products that meet these standards. However, the rising concerns over greenhouse gas emissions and the need to reduce dependency on fossil fuels are some of the other key factors driving the market.
Some of the key players in the Automotive Piston Systems Market are Federal-Mogul Corporation, Aisin Seiki Co. Ltd., Robert Bosch GmbH, Nippon Piston Ring Co. Ltd., and Mahle GmbH. These companies are expected to maintain their dominance in the market over the forecast period owing to their strong product portfolio and brand recognition. Some other key players in the market include Schaeffler Technologies AG & Co. KG, JTEKT Corporation, Loncin Holdings Limited, and Mitsubishi Heavy Industries (MHI) Group among others.
The flat tappet segment forms the major portion of the market
According to the study, Automotive Aluminum Piston is projected to grow at a CAGR of 5.5% during the forecast period. Stringent pollution regulations and increased demand for fuel-efficient automobiles are two reasons that are driving this market sector. Additionally, aluminium pistons are lighter than steel pistons, which appeals to automakers as a material choice. The rising demand for high-performance automobiles is what is driving this market sector. Steel pistons are highly durable and offer superior performance compared to aluminium pistons. However, they are heavier than aluminium pistons, which can be a challenge for automotive manufacturers looking to reduce vehicle weight.
EV Segment to rule the market
Passenger vehicles are estimated to be the largest segment of the automotive piston systems market due to the increasing sales of passenger cars across the globe. According to OICA, global sales of passenger cars increased from 72 million units in 2010 to 86 a million units in 2017. The Asia Pacific region is projected to be the fastest-growing market for automotive piston systems due to the increasing demand for passenger vehicles in countries such as China, India, and Japan.
Asia Pacific will command the marketplace.
The largest and fastest-growing market for automotive piston systems is anticipated to be in Asia Pacific, followed by North America and Europe. The distinct growth of each nation within a region is a further issue to take into account. For instance, the United States and Germany are anticipated to be the two biggest contributors to the growth of North America and Europe, respectively, while China and India are anticipated to be the two biggest contributors to the growth of Asia Pacific. Finally, it's crucial to take into account the macroeconomic circumstances in each region. Compared to North America and Europe, Asia Pacific is predicted to experience comparatively robust economic growth during the projection period. This could have an effect on where you choose to live.
Covid-19 Impact & Market Status
The outbreak of the COVID-19 pandemic has resulted in a significant decline in the demand for vehicles globally, as people have been confined to their homes and are opting for private transportation methods. This has had a direct impact on the automotive piston systems market, as the demand for these products is directly linked to the production of vehicles.
Latest Innovations in the Global Automotive Piston Systems Market: A Snapshot
- In the automotive piston systems market, aluminium pistons are witnessing the highest growth owing to their increased adoption in passenger vehicles. The automotive steel pistons market is also expected to grow at a significant rate over the forecast period.
- The global automotive piston systems market is expected to witness significant growth over the forecast period (2019 – 2029). The market is driven by the increasing demand for passenger vehicles and light commercial vehicles (LCVs). In addition, the growing popularity of diesel engines is also expected to boost the demand for automotive piston systems.
Automotive Piston Systems Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 24.4 billion|
|Growth Rate||CAGR of 5.5% during 2021-2031|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Automotive Piston Systems Market are Federal-Mogul Corporation, Aisin Seiki Co. Ltd., Robert Bosch GmbH, Nippon Piston Ring Co. Ltd., and Mahle GmbH|
Key Segment of Global Automotive Piston Systems Market
By Type Overview 2021-2031, (USD Billion)
- Automotive Aluminium Piston
- Automotive Steel Piston
By Application Overview 2021-2031, (USD Billion)
- Passenger Vehicles
By Region Overview 2021-2031, (USD Billion)
- Rest of Asia Pacific
- Rest of North America
- Rest of Europe
Middle East and Afric