Press Release

Global Automotive Piston Market Likely to Witness Grow at 4% CAGR By 2023

Growing vehicle production, increasing vehicle demand and growing demand for powerful engines, to drive the Global Automotive Piston Market through 2023

According to TechSci Research report, Global Automotive Piston Market, By Vehicle Type (Passenger Car, Two-Wheelers, Three-Wheeler and Commercial Vehicle), By Material (Steel and Aluminium), By Type (Thermal Barrier Piston Coating, Dry Film Lubricant Piston Coating and Oil Shedding Piston Coating), By Component (Piston, Piston Ring and Piston Pin), By Company and By Geography, Forecast & Opportunities, 2023’’, Global Automotive Piston Market is projected to reach USD 15,706.22 million by 2023, growing at a CAGR of over 4% from 2018 to 2023. Increasing sales & production of vehicles and advancement in technology such as integration of cooling channels in piston is anticipated to fuel the global automotive piston market.

Moreover, the growing popularity of aluminium pistons due to their lightweight coupled with the rising need to improve engine capacity is expected to drive the growth of the market during the forecast period. Further, the growing demand for high fuel-efficient engines and lightweight automotive components is likely to drive the demand for lightweight automotive pistons. Lightweight automotive pistons are manufactured from an alloy of aluminium and silicon, and therefore lower the overall weight of the engine and enable tighter tolerance levels. Rising need for fuel efficiency is anticipated to drive the growth of the market during the forecast period.

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Based on vehicle type, the market has been categorised into Passenger Car, Two-Wheelers, Three-Wheeler and Commercial Vehicle. In 2017, passenger car segment dominated the market due to high demand for passenger cars, specifically from emerging economies due to rapidly growing population, increasing disposable incomes and innovations in car design.

Mahle Group, PT Astra Otoparts Tbk, Federal-Mogul Corporation, Aisin Seiki Co., Ltd., Rheinmetall AG (KSPG AG), Dongsuh Industrial Co., Ltd etc, are the major companies operating in the Global Automotive Piston Market.

Asia-pacific is expected to lead the Global Automotive Piston Market between 2018 to 2023 due to the rapidly increasing population, rising disposable incomes, as well as the increasing demand for both commercial vehicles and passenger cars in emerging economies like China and India. Moreover, the growing presence of automotive OEMs coupled with the increasing production capacity is anticipated to drive the growth of Automotive Piston Market in the APAC region.

“The Global Automotive Piston Market holds enormous potential in the coming years, due to increasing number of vehicles in the emerging economies, growing investments of Automotive OEMs to improve the fuel efficiency and government directives on the use of lightweight materials for the manufacturing of vehicles. Further, the growing focus of major automotive companies to innovate vehicular design will drive the Automotive Piston market through 2023.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Automotive Piston Market, By Vehicle Type (Passenger Car, Two-Wheelers, Three-Wheeler and Commercial Vehicle), By Material (Steel and Aluminium), By Type (Thermal Barrier Piston Coating, Dry Film Lubricant Piston Coating and Oil Shedding Piston Coating), By Component (Piston, Piston Ring and Piston Pin), By Company and By Geography, Forecast & Opportunities, 2023” has evaluated the future growth potential of Global Automotive Piston market and provides statistics and information on market size, structure and future market growth. The report offers decision makers superior market intelligence, thereby enabling them conduct thorough investment appraisal. Besides, the report also analyzes the evolving market inclinations along with indispensable drivers, challenges and opportunities in Global Automotive Piston Market.

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