The automotive piston market size is projected to reach US$ 6805.01 million by 2031 from US$ 4027.88 million in 2023. The market is expected to register a CAGR of 13.4% during 2023–2031. The increasing demand for electric vehicles is likely to remain a key trend in the market.
Automotive Piston Market Analysis
The automotive piston market ecosystem is diverse and evolving. It comprises the following stakeholders – raw material providers, automotive piston manufacturers, OEMs, and end users. Major players occupy places in the various nodes of the automotive piston market ecosystem. The raw material providers supply the material to build the automotive piston such as steel, aluminium, and silicon. The automotive piston components comprise of piston pin bore, piston pin, skirt, ring grooves, and piston rings. The OEMs in the global automotive piston market carry out various processes, such as designing, assembling, and production, to transform raw material into finished products.
The top 5 players in the automotive piston market include Mahle GmbH, Tenneco Inc., Rheinmetall AG, ART Metal MFG Co. Ltd., and TPR Co. Ltd. These companies are actively participating in developing robust pistons for varied automotive types. In addition, these players invest substantial capitals in respective R&D teams to design and develop pistons that meet the demands of automotive OEMS. The massive volume of ICE automotive production enables the companies to engage themselves in continuous production of different types of pistons and earn revenues
Automotive Piston Market Overview
MAHLE GmbH, Tenneco Inc., Rheinmetall AG, and ART Metal MFG Co., Ltd, and TPR Co. Ltd., among others, are leading manufacturers of automotive pistons. The companies are offering a wide range of pistons for large bore engines, and pistons for commercial vehicle, tractor and stationary engine applications. These pistons are procured by OEMs such as Volkswagen, Toyota, Volvo, Daimler, and Ford Motor Company, among others. The end-users hold a large number of customers, ranging from personal use vehicle buyers to fleet operators. Growing trend of engine downsizing, increasing vehicle production, and high demand for lightweight pistons are anticipated to present significant opportunities to companies planning to enter this market.
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Automotive Piston Market: Strategic Insights
Market Size Value in US$ 3879.92 Million in 2021 Market Size Value by US$ 5,815.15 Million by 2028 Growth rate CAGR of 6.0% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Automotive Piston Market: Strategic Insights
| Market Size Value in | US$ 3879.92 Million in 2021 |
| Market Size Value by | US$ 5,815.15 Million by 2028 |
| Growth rate | CAGR of 6.0% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Automotive Piston Market Drivers and Opportunities
Use of Lightweight Pistons for Improved Engine Performance
The invention and use of carbon-carbon composite materials in piston manufacturing, has led to reduction piston weight of engine components allowing the piston to run at higher speeds. This has encouraged manufacturers in the automotive piston market to opt for carbon-carbon composite materials over conventional materials, such as aluminum, to achieve improved engine performance. Silicon composites and magnesium are also expected to unfold various opportunities for new products in recent years. The use of lightweight pistons leads to a reduction in engine weight. It benefits ICE vehicles through greater fuel efficiency and pollution reduction.
Continuous Technological Advancements
High wear and tear of engine components due to the rise in the overall operating life of vehicles is bolstering the sales of automotive pistons. Technological advancements and automation are allowing manufacturing companies to achieve greater productivity and profitability. MAHLE GmbH; Tenneco Inc.; Aisin Seiki Co., Ltd.; Hitachi Automotive Systems, Ltd.; and Rheinmetall AG. are among the key companies in the automotive piston market.
Automotive Piston Market Report Segmentation Analysis
Key segments that contributed to the derivation of the automotive piston market analysis are material type, coating type and piston type.
- Based on material type, the automotive piston market is segmented into steel and aluminum. The aluminum segment held the largest market share in 2023.
- Based on coating type, the automotive piston market has been segmented into thermal barrier piston coating, dry film piston coating, and oil shedding piston coating. The thermal barrier piston coating segment held a larger market share in 2023.
- In terms of piston type, the automotive piston market is segmented into flat-top piston, dish piston, and dome piston. The flat-top piston segment held a larger market share in 2023.
Automotive Piston Market Share Analysis by Geography
The geographic scope of the automotive piston market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The scope of the automotive piston market report encompasses North America (the US, Canada, and Mexico), Europe (Russia, the UK, France, Germany, Italy, and the Rest of Europe), Asia Pacific (South Korea, India, Australia, Japan, China, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa), and South & Central America (Argentina, Brazil, and the Rest of South & Central America). In terms of revenue, APAC dominated the automotive piston market share in 2023. Europe is the second-largest contributor to the global automotive piston market, followed by North America.
Automotive Piston Market Report Scope
Automotive Piston Market News and Recent Developments
The automotive piston market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the automotive piston market are listed below:
- Aquarius Engines, Israel, developed a hydrogen-fueled version of its single-piston, lightweight linear engine, which is uniquely designed with the internal gas exchange capability to reduce emissions. (Source: Aquarius Engines, Press Release, May 2021)
Automotive Piston Market Report Coverage and Deliverables
The “Automotive Piston Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Automotive piston market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Automotive piston market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Automotive piston market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the automotive piston market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Material Type ; Coating Type ; Vehicle Type ; and Piston Type and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, South Africa, South Korea, Thailand, United Kingdom, United States
Frequently Asked Questions
The increasing demand for electric vehicles is likely to remain a key trend in the market.
APAC dominated the automotive piston market in 2023.
Arias Pistons; Art Metal Mfg., Ltd; Capricorn Automotive; QUFU JINHUANG PISTON CO.,LTD; Hitachi Astemo Americas, Inc; RIKEN Corporation; MAHLE GmbH; Tenneco Inc.; Rheinmetall Automotive Ag; and Binzhou Bohai Piston Co., Ltd. are some of the leading players in the market.
US$ 6805.01 million estimated value of the automotive piston market by 2031.
6.0% is the expected CAGR of the automotive piston market.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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