Press release
Automotive Tappet Market Analysis: $11.05 Billion by 2029 With a CAGR of 4.4%
Automotive Tappet Market
Automotive Tappet Market Value Projection: How Much Will the Market Size by 2025?
The automotive tappet market has seen a steadfast progression over the recent years. The market which is projected to transition from a value of $8.95 billion in 2024 to an amount of $9.3 billion in 2025, shows a Compound Annual Growth Rate (CAGR) of 3.9%. This elevation in the past period is a result of the increased adoption of Hydraulic Flat Tapper Camshaft (HFTC), a surging demand for flat-tappet, the rise of hybrid and battery-powered vehicles, and an overall growth in the automobile demand.
What Will Be the Market Growth Forecat for Automotive Tappet in 2029?
The size of the automotive tappet market is projected to undergo consistent expansion in the coming years, rising to a value of $11.05 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 4.4%. Factors contributing to this predicted increase during the forecasted period include the surging sales of passenger and commercial vehicles, escalating demand for electric and fuel-efficient vehicles, and burgeoning aftermarket opportunities. Key trends anticipated during the forecasted period encompass the uptake of variable valve timing (VVT) mechanisms, advancements in the field of lubricant technology, the advent of cleaner technologies, technological progression in hydraulic flat tapper camshaft (HFTC), and innovations in engine development.
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What Are the Core Competitive Drivers in the Automotive Tappet Industry?
The growth of the automotive tappet market is anticipated to be pushed forth by the rise in sales of passenger vehicles. Most often used for personal or non-commercial transportation, passenger vehicles encompass cars, SUVs, minivans, and other such vehicles, with the ability to seat 8 or less people excluding the driver. The surge in passenger vehicle sales can be attributed to factors like better financing options, urbanization, advancements in vehicle technology, and the introduction of new models that boast of improved fuel efficiency and safety features. Automotive tappets play a crucial role in improving engine performance and fuel consumption, providing a smoother and more powerful drive that elevates the vehicle's appeal to potential buyers. This in turn increases the sales of passenger vehicles. For example, Automotive Statistics, a Canada-based agency, reported in April 2024 that the number of registered road motor vehicles in Canada rose to 26.3 million in 2022, marking a 0.3% increase from 2021. Therefore, the sales boost in passenger vehicles is a key driver of the automotive tappet market.
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Which Automotive Tappet Market Segment Is Projected to See the Fastest Growth?
The automotive tappet market covered in this report is segmented -
1) By Product: Flat Tappet, Roller Tappet
2) By Engine Capacity Analysis: 6 Cylinder
3) By Material: Steel, Aluminum
4) By Vehicle: Heavy Commercial Vehicle, Light Duty Vehicle
5) By Distribution Channel: Original Equipment Manufacturer, After market
Subsegments:
1) By Flat Tappet: Solid Flat Tappet, Hydraulic Flat Tappet, Mechanical Flat Tappet
2) By Roller Tappet: Hydraulic Roller Tappet, Mechanical Roller Tappet, Needle Roller Tappet, High-Performance Roller Tappet
Which Trends Are Opening New Opportunities in the Automotive Tappet Market?
Key players in the automotive tappet market, like Schaeffler, are making significant investments in their manufacturing capacities with the intent to produce top-notch, high precision tappets that satisfy demanding performance and durability benchmarks, thus ensuring superior engine efficiency and lifespan. A new facility equipped with advanced technology, along with Schaeffler's in-house tools and machinery, has been planned for this objective. As an illustrative example, Schaeffler, a German firm renowned for automotive tappet manufacturing, allocated $230 million in February 2024 for a new greenfield facility in Dover, Ohio. The projected outcome of this development by 2032 is the creation of approximately 450 jobs and the initiation of modern production lines specifically for electric axles for light and medium-duty vehicles. Alongside innovation, the company also emphasizes on sustainability, ensuring that the facility adopts environmentally friendly procedures in accordance with Schaeffler's dedication to ecological accountability and its target of attaining climate neutrality by 2040.
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Who Are the Leaders in the Automotive Tappet Market?
Major companies operating in the automotive tappet market are Delphi Technologies PLC, Robert Bosch GmbH, Denso Corporation, Continental AG, Aisin Seiki Co. Ltd., Eaton Corporation PLC, Tenneco, Schaeffler AG, Otics Corporation, MAHLE GmbH, Dana Incorporated, AB SKF, NSK Ltd., Federal-Mogul Corporation, Rheinmetall Automotive AG, Melling Industries, Elgin Industries, Yuhuan Huiyu Tappets Co. Ltd., Crower Cams & Equipment Co., SSV Valves, Cloyes Gear and Products Inc., Howards Cams, Dura-Bond Bearing Company, SM Motorenteile GmbH
Which Regional Automotive Tappet Markets Offer the Greatest Growth Potential?
Asia-Pacific was the largest region in the automotive tappet market in 2024. The regions covered in the automotive tappet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Key Market Insights:
Market Overview:
A tappet, an integral component of internal combustion engines, plays a crucial role in the mechanical engineering and automotive sectors. These small, cylindrical parts work in conjunction with the camshaft, ensuring the precise timing and regulation of valve activities necessary for fuel intake, combustion, and exhaust expulsion. The performance, efficiency, and emissions of an engine are heavily dependent on the precise operation of tappets.
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