According to our latest market study on “Automotive Piston Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Material Type, Coating Type, Vehicle Type, and Piston Type,” the market was valued at US$ 3879.92 million in 2021 and is projected to reach US$ 5815.15 million by 2028; it is expected to grow at a CAGR of 6.0% from 2021 to 2028.
Increasing Production of ICE Vehicles to Drive Market Growth during Forecast Period
The automotive piston market is witnessing increasing demand for small-bore pistons, large-bore pistons, bearings, and castings that contribute to weight reduction, emission reduction, and improved performance due to which there is an increasing in the demand of automotive piston in various vehicle type for making vehicle more efficient and light-weight. Also, the Increasing production of internal combustion engine (ICE) vehicles is boosting the demand for automotive pistons to achieve fuel efficiency, reduce emissions, and enhance flexibility and reliability.
The increasing demand for automotive piston in ICE vehicles to achieve fuel efficiency, reduce emissions, and enhance flexibility and reliability is driving the automotive piston market. In addition to growing economies, rise in disposable income and expectations in terms of convenience are among the factors bolstering the sales of passenger cars, further boosting the automotive piston market. Demand for advanced and high-tech features, and technological innovations as well as concerns regarding environmental safety are compelling OEMs to focus on the production and adoption of highly accurate and high-performance piston designs, thereby promoting the development of long-lasting pistons that can withstand stress, and wear and tear caused by engine operations. Mechanical simplicity, flexibility and reliability, and multi-fuel capabilities are among the other features driving the adoption of automotive pistons.
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The use of lightweight pistons leads to a reduction in engine weight. It benefits ICE vehicles through greater fuel efficiency and pollution reduction. The automotive pistons manufactured using lightweight hybrid composite materials are ~25% lighter than those made from conventional materials. Moreover, the former enables cost-saving of over 62%. Thus, the performance and cost benefits of lightweight pistons are encouraging the participants in the automotive sector to invest in innovative designs, which is bolstering the growth of the automotive piston market.
Mahle GmbH, Tenneco Inc., Rheinmetall AG, ART Metal MFG Co. Ltd., and TPR Co. Ltd.. - Prominent Market Participants in Automotive Piston Market
Mahle GmbH, Tenneco Inc., Rheinmetall AG, ART Metal MFG Co. Ltd., and TPR Co. Ltd are some of the key market players operating in the global automotive piston market. The listing of key players is derived by considering multiple factors such as overall revenue, current automotive piston system product portfolio, geographical reach, new product launches, market initiatives, and investment in technology upgradation, partnerships, and other market related activities. In addition to these players, there are several other important players operating in the automotive piston system ecosystems which were studies analyzed during the course of this market research study.
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