Shutdown of Production Sites Post COVID-19 Impacts Automotive Tappet Market | Industry Major Key Players NSK (Japan), Crower Cams & Equipment Company Inc. (U.S.), SKF (Sweden), Lunati (U.S.), Schaeffler (Germany),

Market Overview

The automotive tappet market 2020 could possibly advance at a rate close to 4.55% between 2017 and 2023 (appraisal period), confirms Market Research Future (MRFR). We will provide COVID-19 impact analysis with the report, along with all the key developments since the coronavirus disease outbreak.

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Primary Drivers and Key Restraints

The COVID-19 outbreak has been a hard hitting event of 2020, and has significantly affected every aspect of the economy, which includes the automotive industry and all the related markets. Automakers along with their suppliers are doing everything they can to continue with their automotive assembly lines, while taking up necessary precautions in light of the government advisories of keeping their workers safe. Automotive tappet manufacturing facilities worldwide have been closed off post the lockdown, consumer demand has declined sharply, vehicle sales have ceased and all the prominent industry events have been cancelled or everything had to go digitized to maintain communications.
Various automakers are stepping up their game to battle SARS-CoV-2, and are coming up with new ways to support people hit by the pandemic. Also, many of the production sites have been given the green signal and are now allowed to recommence their operations, despite the COVID-19 impact. For instance, on 4 May 2020, Rolls-Royce recommenced its production work at Goodwood factory, which made it the first vehicle manufacturer to do so in Britain following the novel coronavirus lockdown.
Technological innovations, rising consumer preference for high performing vehicles and new product launches by the leading automakers can also work in the automotive tappet market’s favor. For instance, in June 2020, reports confirmed that the Royal Enfield Meteor 350 is ready to be launched in India. The new model consists of an advanced tappet engine UCE engine that complies with all the BS6 emission standards.

Segmental Analysis

The automotive tappet industry can be considered for type, engine capacity and vehicle type.
The types of automotive tappet are flat as well as roller. The market for flat tappet can gain higher impetus in the coming years, on account of the surging production level of the passenger cars across emerging countries. The demand for flat tappet is strong in mid-sized as well as commercial vehicles as they are cost-effective and facilitate better fuel efficiency.
 
The engine capacity-based segments include 6 cylinders. The demand for less than 4 cylinder segment is projected to increase significant in the years ahead as a result of the rising number of emission regulations along with the emerging trend of engine downsizing.
Vehicle types included in the market study are LCV/light commercial vehicles, passenger and HCV/heavy commercial vehicles.
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Regional Insight

The regional distribution of the automotive tappet market covers Europe, APAC/Asia Pacific, North America, as well as Rest of the World/RoW.
It is clear that the APAC market can emerge as the global leader over the next few years, given the escalating sale of commercial and passenger vehicles in India, Japan and China. These countries are major automotive manufacturing hubs in the world, which has to the high production of vehicles in the region. The expanding population of first-time automotive buyers and the increasing development of the latest valve technologies such as VTech by Honda, MIVEC by Mitsubishi and Variable Valve Timing (VVT) by Toyota to maintain the fuel economy also induce industry growth in the region.

North America comes a close second in the global market for automotive tappet, as the leading OEM manufacturers heavily spend on the development of commercial vehicles, which results in stronger demand for tappets. The increasing demand for hydraulic tappets in light of the accelerated sale of race cars and various high performance automobiles is an emerging trend in the regional market. The overall significant growth of the automotive industry and the high purchasing power of the region’s citizens also drive the business expansion.

Eminent Market Companies

Some of the top market companies include RSR Industries (India), NSK (Japan), Crower Cams & Equipment Company Inc. (U.S.), SKF (Sweden), Lunati (U.S.), Schaeffler (Germany), Rane Engine Valve Limited (India), Competition Cams Inc. (U.S.), Federal-Mogul (US), Jinan Hongjitang Pharmaceutical Co Ltd (China), SSV Valve (India), Eaton (Ireland), Wuxi Xizhou Machinery Co., Ltd (China), SM Motorenteile GmbH (Germany), Yuhuan Huiyu Tappets Co. Ltd (China), to list a few.

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