CHICAGO, May 27, 2020 /PRNewswire/ — According to the new market research report «Automotive Piston Market by Component (Piston, Piston Ring, Piston Pin), Material (Steel, Aluminum), Coating Type (Dry Film Lubricants, Thermal Barriers, Oil Shedding), Piston Shape, Vehicle & Fuel Type, Aftermarket and Region – Global Forecast to 2025″, published by MarketsandMarkets™, the Automotive Piston Market is projected to grow to USD 2.2 billion by 2025 from USD 1.9 billion in 2020, at a CAGR of 3.5%. Factors such as fuel shift towards gasoline passenger cars & especially towards GDI engines and the demand for lightweight piston components are projected to create a potential need for automotive pistons in the coming years.
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Passenger Car Segment is estimated to hold the largest share in Automotive Piston Market
The passenger car segment is estimated as the largest market for automotive piston as this type of vehicle contributes to >60% of the global vehicle production. According to the ACEA, passenger car production hit 66 million in 2018; this figure is expected to go beyond 70 million by 2024–2025, with the Asia Pacific and North America being the leading regions. All these factors will increase the demand for piston from the passenger car segment in the coming years.
The gasoline segment is estimated to the largest growing segment in the Automotive Piston Market
Gasoline vehicle has the highest penetration in passenger and light-duty vehicles. Whereas, the usage of gasoline in heavy commercial vehicles is virtually zero. The overall market share of gasoline engines, irrespective of vehicle type, is expected to be ~75% in 2020. Owing to the new emission regulations, the demand for gasoline vehicles is estimated to increase in the coming years. Also, as gasoline vehicles require less maintenance as compared to diesel vehicles, their application is rising in the passenger car segment. Therefore, piston systems for gasoline vehicles account for a larger share of the market, and this trend is expected to continue during the forecast period.
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Asia Pacific: The largest Automotive Piston Market
China, Japan, South Korea, and India are the largest vehicle producers globally. These countries accounted for 49% of the global vehicle production in 2019 (China alone accounted for 30% of the global vehicle production in 2019). The demand for 3-cylinder and 4-cylinder engines is high in the Asia Pacific as it is a major hub for small car production. The key OEMs in this region include Brilliance Auto, Shanghai Automotive Industry Corporation (SAIC), Chery Automobile, Geely Automobile, Hawtai Motor Group, and Honda Motor Co., Ltd. Hence, the Asia Pacific is the largest market for automotive pistons. The Asia Pacific contributed to 37% of the demand for pistons, in terms of value, in 2019. Some of the top-selling models in 2019 in China and Japan were Volkswagen Lavida, Nissan Sylphy, Haval H6, Nissan Note, Toyota Prius and Aqua, and Nissan Serena.
Major players like Dana and Lydall are investing and increasing their footprint in the Asia Pacific market. For instance, in 2018, Dana inaugurated a plant that would manufacture thermal management products for conventional and new-energy vehicles in Yancheng, China. The rising penetration of such companies in Asia Pacific will drive the overall market.
The Automotive Piston Market is dominated by global players and comprises several regional players as well. The key players in the automotive piston industry are MAHLE GmbH (Germany), Aisin Seiki Co., Ltd. (Japan), Rheinmetall Automotive AG (Germany), Tenneco Inc. (US), and Art Metal Mfg. Co. Ltd. (Japan).
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