Press release
Automotive Piston Market 2020 Next Big Thing after Covid-19 Pandemic | Major Giants - Mahle, Aisin-Seiki Co. Ltd., KSPG AG, Hitachi Automotive, Federal-Mogul, Indian Piston Ltd, Shriram Piston and Rings, Arias Piston, Capricorn Automotive, Ross Racing Pis
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According to a recent report published by Allied Market Research, titled,"Automotive Piston Market by Material Type, Piston Coating Type, Vehicle Type, and Piston Type: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global automotive piston market was valued at $8,685.1 million in 2017, and is projected to reach $13,386.1 million by 2025, registering a CAGR of 5.4% from 2018 to 2025.
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In 2017, based on material type, the aluminum segment dominated the automotive piston market in terms of revenue. However, the steel segment is expected to grow at the highest CAGR during the forecast period (2018-2025). The automotive piston market exhibits promising growth opportunities for the automotive industry due to rise in sales of automotive vehicles and rising requirement of lightweight piston to improve performance of the engine.
The current business scenario witnessed an increase in the adoption of this technology, particularly in the developing regions. Therefore, key players adopt new techniques to provide advanced and innovative product offerings to their customers.
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Key Findings of the Automotive Piston Market:
o Based on vehicle type, the two wheeler segment dominated the global automotive piston market in 2017.
o Based on material type, the steel segment is anticipated to exhibit the highest CAGR during the forecast period.
o Based on piston type, the deflector piston segment is anticipated to exhibit the highest CAGR during the forecast period.
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