Press release
Automotive Piston Industry Expected to Reach $5.45 Billion by 2029 at 5.2% CAGR
Automotive Piston Market
Automotive Piston Market Value Projection: How Much Will the Market Size by 2025?
In the past few years, the automotive piston market size has seen consistent growth. The market is projected to increase from $4.25 billion in 2024 to $4.45 billion in 2025, with a compound annual growth rate (CAGR) of 4.7%. The historic period's growth can be traced back to factors such as greater vehicle manufacture, further development of the automotive industry, increasing globalization, the emergence of electric vehicles, and the growing demand for hybrid vehicles.
What Will Be the Market Growth Forecat for Automotive Piston in 2029?
Anticipated to witness substantial growth in the coming years, the automotive piston market is expected to expand to $5.45 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 5.2%. This projected growth can be attributed to several factors including the surge in connected and autonomous vehicles, enhanced demand for gasoline engines in passenger cars, an increasing emphasis on fuel efficiency, an escalating demand for commercial vehicles, and a growing requirement for diesel engines. Leading trends over the forecast period encompass improvements in manufacturing technologies, progression in internal combustion engine technology, the inclusion of sensors and intelligent technologies, developments in coatings and surface treatments, and the advent of automation and precision manufacturing.
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What Are the Core Competitive Drivers in the Automotive Piston Industry?
The burgeoning production levels of vehicles are set to spur on the expansion of the automotive piston market. This growth in vehicle production is spurred by the accelerating global appetite for automobiles, fueled by increasing urbanization and the growing demand for private transport. Automotive pistons play a critical role in vehicle engines, transforming the energy derived from fuel combustion into mechanical motion, turning the crankshaft and thus, powering the vehicle's movement. For example, in May 2023, the European Automobile Manufacturers Association (ACEA), a Belgian trade body, reported that 85.4 million motor vehicles were manufactured worldwide in 2022, which indicates a 5.7% spike from 2021. Therefore, the increase in vehicle production is stoking up the growth of the automotive piston market.
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Which Automotive Piston Market Segment Is Projected to See the Fastest Growth?
The automotive piston market covered in this report is segmented -
1) By Piston Type: Trunk Piston, Crosshead Piston, Slipper Piston, Deflector Piston
2) By Component Type: Piston, Piston Rings, Piston Pin
3) By Coating Type: Oil Shedding, Dry Film Lubrication, Thermal Barrier
4) By Vehicle: Commercial Vehicle, Heavy Commercial Vehicle, Light Commercial Vehicle, Passenger Vehicle, Two-Wheeler
5) By Distribution Channel: Original Equipment Manufacturer (OEM), After market
Subsegments:
1) By Trunk Piston: Forged Trunk Pistons, Cast Trunk Pistons, Lightweight Trunk Pistons For Performance Engines, High-Compression Trunk Pistons, Trunk Pistons With Anti-Wear Coatings
2) By Crosshead Piston: Marine Crosshead Pistons, High-Pressure Crosshead Pistons, Crosshead Pistons For Diesel Engines, Large-Bore Crosshead Pistons For Heavy-Duty Applications, Crosshead Pistons With Thermal Barrier Coatings
3) By Slipper Piston: Billet Slipper Pistons, Forged Slipper Pistons For Racing, Lightweight Slipper Pistons, Slipper Pistons For High-Performance And Motorsport Engines, Slipper Pistons With Reinforced Skirts For Durability
4) By Deflector Piston: Standard Deflector Pistons, High-Compression Deflector Pistons, Deflector Pistons For Diesel Engines, Coated Deflector Pistons For Improved Heat Dissipation, Heavy-Duty Deflector Pistons For Commercial Vehicles
Which Trends Are Opening New Opportunities in the Automotive Piston Market?
Leading firms in the automotive piston market, are leaning towards technological developments like advanced coating technologies in order to stay ahead of the competition. These technologies encompass specific surface treatments used on vehicle parts, such as Diamond-Like Carbon and thermal barrier coatings, intended to augment durability, lessen friction, and enhance overall performance and efficiency. For instance, JE Pistons, which is a US-based company that specializes in forging high-performance pistons, released a new innovation known as Aligned Grain Flow Technology (AGFT) in April 2023. This technology substantially improves both performance and durability of their forged pistons and is featured in their Ultra Series pistons, used in high-performance activities like motorsports and powersports. The AGFT process refines the grain structure of the piston material, resulting in a boost in tensile strength up to 20% in comparison to regular forged pistons. This enhancement is critical for high-horsepower applications where durability under severe conditions is necessary.
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Who Are the Leaders in the Automotive Piston Market?
Major companies operating in the automotive piston market are General Motors Company, Hitachi Ltd., Continental AG, Mitsubishi Heavy Industries Ltd, Toyota Industries Corporation, Tenneco Inc., Yamaha Motor Co. Ltd., Mahle GmbH, Rheinmetall Automotive AG, TPR Co. Ltd, PT Astra Otoparts Tbk, Riken Corporation, ZYNP Corporation, Shriram Pistons and Rings Ltd., Cosworth Group Holdings Ltd., Federal-Mogul Corporation, Elgin Industries, Wiseco Piston Inc, CP Pistons Carrillo Industries Inc, Hastings Manufacturing Company, J&E Pistons Manufacturing Inc., United Engine & Machine Co. Inc., Wossner GmbH, Honda Foundry Co. Ltd, Ross Racing Piston
Which Regional Automotive Piston Markets Offer the Greatest Growth Potential?
Asia-Pacific was the largest region in the automotive piston market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive piston market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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