The Automotive Piston Pin Market To Be On The Growth Sojourn Amidst Innovations

Automotive Piston Pin Market Forecast and CAGR
According to latest research, the automotive piston pin market is projected to expand between 4.0% and 6.0% CAGR during the 2021-2031 assessment period. Extensive production and sales volumes of ICE vehicles in all the segments, including passenger cars, LCVs, and HCVs, are primarily driving the demand for piston pins. The piston pin market has witnessed growth in developing as well as developed countries.

What is Driving Demand for Automotive Piston Pin?
Major factors driving the market are the substantial production and sales volumes of ICE vehicles. As piston pins are necessary in every type of ICE vehicle, the key driver for the global piston pin market is the continuously increasing production of ICE vehicles across the globe. Although most countries are concerned about the emissions caused by ICE vehicles, most of the automotive market is still dominated by ICE vehicles.

Lack of infrastructure and shortcomings of electric vehicles such as short-range and high initial cost are reasons why ICE vehicles are always the first choice in the majority of the countries in the world, especially in developing countries such as India. As 100% adoption of electric vehicles will take some time, ICE vehicles will continue to remain in demand, resulting in significant production volumes.

Planning To Introduce An Offbeat Product/Technology In The Automotive Piston Pin Market? Go To “Purchase Now” To Have Our Automotive Piston Pin Market Report! https://www.persistencemarketresearch.com/checkout/18010

Customization of these piston pins for improved performance is a growing market trend in the automotive piston pins market. The direct injection, downsizing and supercharging in combustion engines, planned to meet the required exhaust gas limits and to reduce the consumption of fuel and CO2 emissions is another trend followed that drives the need for the innovation in piston technology.

Gasoline Segment will be Leading Segment During the Forecast Period
The gasoline segment is projected to have the largest share in the market during the forecast. The growth of the gasoline segment can be attributed to the growing preference over diesel engines due to the strict emission standards across the world. Also, the life of gasoline engines is almost double than that of diesel engines.

Gasoline engines require less maintenance. On the other hand, diesel engines require servicing/maintenance of the components after ~5,000–6,000 km. In the aftermarket, gasoline vehicles require minimal replacement of components. However, in the case of diesel engines, components of the piston system get replaced more often. All these factors have contributed to the demand for gasoline passenger vehicles.

Planning Forward? Access Sample of Automotive Piston Pin Market Report @ https://www.persistencemarketresearch.com/toc/18010

Asia Pacific Automotive Piston Pin Sales Outlook
Asia Pacific is projected to be the largest and fastest-growing automotive piston pin market during the forecast period. China, Japan, South Korea, and India are some of the largest ICE vehicle producers internationally. According to OICA, passenger car production in Asia Pacific accounts for around 54% of the global passenger car production. APAC is estimated to be the largest market for automotive piston pin market in forecasted period.

According to the World Bank, APAC is the fastest-growing region in terms of both population and economy. The region has witnessed significant growth in the past decade, accounting for over one-third of the world’s GDP. High economic growth, coupled with the increasing population, is expected to drive the region’s industrial sector. Hence, the Asia Pacific is the largest market for automotive piston pins.

North America Demand Outlook for Automotive Piston Pin
North America is also expected to witness significant market growth of this compound on account of rising production in automotive industries over the forecast period. However, Demand in this region is supposed to grow at a moderate pace due to the slowdown in production in end use industries. The capacity additions in the region of US and Canada are predicted to increase the market call over the outlook period.

How About Re-Inventing The Methodical Wheel In The Automotive Piston Pin Market? Tab! https://www.persistencemarketresearch.com/methodology/10810

Who are the Key Manufacturers and Suppliers of Automotive Piston Pin?
Some of the leading manufacturers and suppliers include
• AISIN SEIKI Co. Ltd
• Tenneco Inc.
• Rheinmetall Automotive AG
• MAHLE GmbH
• Shandong Binzhou Bohai Piston Co. Ltd.
• Burgess-Norton
• Ming shun industrial co. ltd
• Ross Racing Pistons
• Shriram Pistons & Rings Ltd
• Elgin Industries
• JE Pistons Inc.

Contact Us:
Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com
Website – https://www.persistencemarketresearch.com

About Us:
Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers’ experience by acting as the “missing” link between “customer relationships” and “business outcomes’. The best possible returns are assured therein.

This release was published on openPR.