Automotive Piston Market Size Worth USD 5.81 Billion with 6% of CAGR, Globally, by 2028 - The Insight Partners

Engine performance can be improved if the engine assembly components are light in weight. The use of carbon-composite material in piston manufacturing reduces the weight allowing it to reciprocate at higher speed. Majority of piston manufacturers are preferring aluminum to achieve optimal engine performance. Moreover, silicon composites and magnesium can be used for making engine assembly products to reduce the overall weight. Thus, the lightweight pistons increasing fuel efficiency and huge production of ICE vehicles bolster the global automotive piston market.

According to The Insight Partners' research, the global automotive piston market accounted for US$ 3,754.64 million in 2020 and is expected to be worth US$ 5,815.15 million by 2028 to rise at a stellar CAGR of 6.0% from 2021 to 2028. The massive production of ICE vehicles and use of lightweight pistons for improved engine performance are the potential elements proliferating the market.

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On the contrary, the operational disadvantages of automotive pistons and surge in electric vehicle (EV) manufacturing restrict the growth of global automotive piston market.
Based on material type, the market is split into steel and aluminum. The latter held 86.7% market share in 2020, amassing US$ 3,254.17 million. It is projected to be worth US$ 4,917.59 million by 2028 to grow at 5.6% CAGR during 2021-2028.

In terms of coating type, the automotive piston market sphere is categorized into thermal barrier piston coating, dry-film piston coating, and oil shedding piston coating. The thermal barrier piston coating segment occupied 65.4% market share in 2020. It was valued at US$ 2,457.05 million in 2020 and is estimated to garner US$ 3,612.27 million by 2028 to expand at a CAGR of 9.3% over the forecast period.

As per vehicle type, the automotive piston market domain is segmented into two-wheelers, passenger vehicles, and commercial vehicles. The passenger vehicles segment captured 51.2% market share in 2020 with a revenue total of US$ 1,923.51 million. It is likely to generate US$ 2,968.28 million by 2028 to surge at 5.9% CAGR along the forecast period.

According to piston type, the global automotive piston market is categorized into flat-top piston, dish piston, and dome piston. With 65.6% share of the business, the flat-top piston dominated the market in 2020. It was evaluated at US$ 2,463.72 million in 2020 and is slated to accrue US$ 3,719.45 million by 2028 to exhibit a CAGR of 5.6% throughout the forecast period.

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Our regional analysis states that the Asia Pacific market led the business in 2020 with 51.5% market share. It was assessed at US$ 1,933.64 million in 2020 and is forecasted to be worth US$ 3,253.34 million by 2028 to register the highest CAGR at 7.0% for the forecast period.

The passenger cars and light commercial vehicles are equipped with internal combustion (IC) engines. IC engines require small-bore pistons, large-bore pistons, bearings, and castings to reduce weight, lower emissions, and improve overall engine performance. The piston manufacturers are focused on designing high-performance and long-lasting pistons that can withstand stress and wear & tear caused by engine operations. Key features of the automotive pistons include mechanical simplicity, flexibility, and multi-fuel capability.

Key players dominating the global automotive piston market are Arias Pistons; Art Metal Mfg., Ltd; Capricorn Automotive Ltd; Riken Corporation; Qufu Jinhuang Piston Co., Ltd; Mahle GmbH; Tenneco Inc; Rheinmetall Automotive AG; Shandong Binzhou Bohai Piston Co., Ltd; and Hitachi Astemo Americas, Inc, among others.

• In February 2019, Mahle GmbH designed a new steel piston with a special laser welding process for passenger car diesel engines. In July 2020, the company manufactured high-performance aluminum pistons using 3D printing techniques with the co-operation of sports car manufacturer Porsche and mechanical engineering company Trump.

• In October 2018, Tenneco Inc acquired Federal-Mogul LLC, a leading global automotive parts supplier. With this acquisition, the company can expand its product portfolio, including pistons, piston rings, piston pins, cylinder liners, and other parts.

• In April 2021, Rheinmetall partnered with ZYNP Corporation of Mengzhou, China and Riken Corporation of Tokyo to commence a new technology center in Nanjing, China. This center is going to offer customer service related to modern steel pistons.

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