Market Research Future study reveals that global pistons market is anticipated to expand approximately at a higher valuation, by attaining significant CAGR during the forecast period. The market study connected with the automobile industry has been made accessible by Market Research Future, which publishes reports. It has been recently put out along with a report on this industry and states that the market is likely to grow with an inspiring CAGR rate over the forecast period.
Market Trends & Drivers
The demand for pistons is being increased due to the usage of high strength materials, which is one of the leading factors motivating the entire market growth. The piston market is expanding positively in response to its demand from the vast and well-established automobile market. As pistons are known to be an integral component of the car engines, these are being increasingly incorporated in engines for faster and more efficient car production. The market is also with the development of the types of materials that are used for manufacturing pistons. The surge in the usage of lightweight pistons due to the soaring fuel prices is also highly anticipated to fuel the growth of the market over the assessment period.
On the other side, the booming automotive industry is directly leading to the growth of the piston market. It is due to high end-bikes that require a double engine cylinder with multiple pistons. Therefore, the upsurge in demand for high-end automobiles is leading to the mount in need of pistons. Therefore, the rapid escalation in the fuel prices is also speedily leading to the increased use of lightweight pistons, thereby leading to the growth of the market.
On the flip side, the growth of the global piston market can be restricted by the occurrence of electric vehicles, which do not require pistons.
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The prominent players of the global piston market are listed as Burgess-Norton Mfg. Co., Inc. (U.S.), Federal-Mogul Corporation (U.S.), Rheinmetall Automotive AG (Germany), MAHLE GmbH (Germany), Aisin Seiki Co., Ltd. (Japan), Shriram Pistons and Rings Ltd. (India), Arias Pistons Ltd (U.K.), Ming Shun Industrial Co. Ltd (Taiwan), Ross Racing Pistons (U.S.), Shandong BinzhouBohai Piston Co., Ltd. (China), and to name a few.
The segmentation of the piston market is carried out by the elements of material, coating, and vehicle type.
In terms of material, the piston market is categorized into aluminum and steel.
In terms of coating, the piston market includes dry film lubricating, oil shedding, thermal barrier, and many more.
In terms of vehicle type, the market incorporates light commercial vehicles, passenger cars, and heavy commercial vehicles.
Regionally, the global market of the piston has been studied among the key regions of Asia Pacific, Europe, North America, and Rest of the world.
Among these, the Asia Pacific region is possible to expand owing to an escalating number of vehicles that are being manufactured in developing nations such as India and China. The development of the piston market in the Asia Pacific region is chiefly accredited to the rising per capita income of the individuals, which is leading to the implementation of high-end automobiles, therefore growing the usage of pistons in this region. The incidence of crucial automobile manufacturers in the region is also adding to the development of the piston market.
Besides, with the surge in manufacturing costs, the existing piston manufactures in the US and Europe is shifting their operation to Asia-Pacific region owing to low labor costs and easy availability of raw materials.
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