Press release
Global Automotive Piston Pins Market Insights by Vehicle Type, Fuel and Coating Types | Key Players - Art Metal Mfg., Ltd., Art-Serina, Avon Industrial Corporation, Bohai Automotive Systems, Burgess Norton, Capricorn, Coker Engineering Ltd., Cosworth, CP
The global automotive piston pin market size is projected to grow from USD 259 million in 2020 to USD 314 million by 2025, at a CAGR of 4.0%.The market for piston pins is mainly driven by the extensive production and sales volumes of ICE vehicles in all segments, including passenger cars, LCVs and HCVs. In developing as well as developed countries, the piston pin market has experienced growth.
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OEMs and Tier I manufacturers have also focused on designing and improving long-lasting piston pins that can handle or withstand all the loading or stresses applied during engine operations and the wear and tear involved. Therefore, the automotive piston pin market could be helped by developments in metallurgy and material science fields.
It is expected that the COVID-19 pandemic will have a significant impact on the demand for automotive piston pins. As the pandemic has disrupted the entire ecosystem, the production and sales of new vehicles have come to a halt across the globe.
During the forecast era, the passenger car segment is expected to have the greatest share of the demand for automotive piston pins. The dominance of passenger cars in global vehicle production is the primary factor driving the passenger car market.
LCV demand in Europe increased by 5 percent between 2018 and 2019, accounting for 2.5 million units, as per the review of vehicle production statistics up to 2019. Between 2018 and 2019, LCV production increased by 0.2 percent in North America, accounting for 4.7 million units. In the demand for piston pins, North America is projected to have the largest share of the light commercial vehicle segment. The primary reason is the popularity of pickup trucks from OEMs like Ford and General Motors in the area.
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During the forecast era, Asia Pacific is expected to be the largest and fastest-growing market for automotive piston pins. Some of the main ICE vehicle manufacturers worldwide are China, Japan, South Korea, and India.
The largest driver for the global piston pin market is the continuously growing production of ICE vehicles worldwide, as piston pins are needed in any type of ICE vehicle. While most countries are worried about the pollution generated by ICE vehicles, ICE vehicles still dominate most of the automotive market.
Key Players
• Art Metal Mfg., Ltd.
• Art-Serina
• Avon Industrial Corporation
• Bohai Automotive Systems
• Burgess Norton
• Capricorn
• Coker Engineering Ltd.
• Cosworth
• CP Carrillo, Inc.
• Dong Yang Piston
• Elgin Industries
• JE Pistons
• Mahle GmbH
• Menon Piston
• Ming Shun Industrial Co., Ltd.
• Prabhat Engineering Corporation
• Rheinmetall Automotive Ag
• Ross Racing Pistons
• Samkrg Pistons and Rings Limited
• Shriram Pistons & Rings Ltd.
• Tenneco
• Wiseco
Recent Developments
JE Pistons launched a new ultra-lightweight 2-barrel IMCA/USRA piston in March 2020. The piston is specifically designed for applications involving racing.
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VynZ Research is a market research firm offering research, analytics, and consulting services on business strategies. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. VynZ Research assists enterprises to take strategic decisions for helping their businesses to grow. The reports developed by VynZ are based on market facts that include comprehensive analysis and quantification of market drivers, industry dynamics, opportunities, challenges, threats, market shares and anticipated new trends & technologies arising across a wide range of industries.
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