Press release
Automotive Piston Market Expected to Reach $13,386 Million by 2025 | Key Player - Mahle Gmbh, Aisin-Seiki Co. Ltd., KSPG AG, Hitachi Automotive Systems, Federal-Mogul, Indian Piston Limited
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The factors that drive the global automotive piston market include increase in sales & production of vehicles, requirement of lightweight piston to improve performance, and inclination toward double cylinder engine for premium segment bike. However, technical advancements to downsize automotive engines and increase in penetration of electric vehicle hinder the growth of the market. Irrespective of these challenges, expansion in untapped market of developing regions such as Asia-Pacific, Latin America, and Africa is expected to provide lucrative opportunities for the market growth. In addition, rise in demand for lightweight piston developed from composites of carbon, silicon, and magnesium is expected to unfold various opportunities for new products in the market, thereby boosting the market growth.
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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:
• Based on vehicle type, the two wheeler segment dominated the global automotive piston market in 2017.
• Based on material type, the steel segment is anticipated to exhibit the highest CAGR during the forecast period.
• Based on piston type, the deflector piston segment is anticipated to exhibit the highest CAGR during the forecast period.
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