Automotive Piston Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $15,705 million by 2022, registering a CAGR of 4.8% during the period 2016-2022. Asia-Pacific accounted for the highest revenue share in 2015 and is anticipated to maintain its dominance throughout the forecast period.
Piston system comprises a piston, piston rings, and piston pin; this system transfers the generated force to the crankshaft through connecting rod. Piston generates mechanical energy that propels the crankshaft movement, which in turn, drives the wheels of the vehicle.
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The demand for the automotive piston is driven by an increase in sales & production of vehicles globally and advancement in technology such as integration of cooling channel in the piston. However, technical advancements to downsize automotive engines and increase in penetration of electric vehicles hinder the growth of automotive piston market.
The automotive piston market is segmented on the basis of material type, piston type, coating type, vehicle type, and geography. By material type, aluminum piston segment would lead the market throughout the analysis period, accounting for around 67% of the overall automotive piston market revenue, owing to its qualities of being light-weight and having a low corrosion rate.
Geographically, Asia-Pacific automotive piston market is projected to witness lucrative growth opportunities, growing at a CAGR of 5.2% during the forecast period. Growth in the automotive sector and increasing use of double cylinder engines over single cylinder engine in premium segment bikes are the factors that drive the growth of the automotive piston market in the region.
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Key Findings Of Automotive Piston Market
• In 2015, aluminum piston led the overall automotive piston market and is projected to grow at a CAGR of 4.6% during the forecast period.
• Trunk piston led the overall market in2015and is projected to grow at a CAGR of 4.3% from 2016 – 2022.
• Asia-Pacific accounted for the largest market share in2015and is anticipated to grow at a CAGR of 5.2% during the forecast period.
Key players that operate in the automotive piston market are Mahle Gmbh, Aisin-Seiki Co. Ltd., KSPG AG, Hitachi Automotive Systems, Federal-Mogul, Indian Piston Limited, Shriram Piston & Rings, Arias Piston, Capricorn Automotive, and Ross Racing Piston.