$5.7 Billion Automotive Piston Market by 2024 – Analyzed by Type, Distribution and Geography – IMARCGroup.com

$5.7 Billion Automotive Piston Market by 2024 - Analyzed by Type, Distribution and Geography – IMARCGroup.com

“Global Automotive Piston Market to Reach US$ 5.7 Billion by 2024, Impelled by Increasing Sales of Personal Vehicles – IMARC Group”
The global automotive piston market has witnessed moderate growth over the past few years. This can be accredited to the increasing production of automobiles, escalating sales of high-end bikes and the availability of pistons made from carbon, silicon and magnesium.

An automotive piston refers to a cylindrically shaped component which moves up and down inside the cylinder of an engine. The reciprocating action of the piston produces significant inertial force and generates mechanical energy that propels the crankshaft movement as well as provides the necessary power to an automobile for its proper functioning. These pistons are generally made up of aluminum and steel alloys as they can endure high temperatures and prevent the leakage of gas. They withstand combustion pressure and reciprocate loads to have expansion control for noiseless and long-life operation.

The recent report by IMARC Group, titled “Automotive Piston Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the global automotive piston market reached a value of US$ 4.1 Billion in 2018.

Market Trends:

Owing to the growing population and inflating disposable incomes, people are now more inclined toward spending on personal vehicles, especially in emerging economies. This has resulted in the increasing sales of automobiles, which acts as a significant contributor to the market growth.

Moreover, the market is driven by the emerging trend of high-end bikes having double cylinders, which require two pistons each. This, coupled with the launch of innovative and lightweight products developed from carbon, silicon and magnesium by manufacturers, is rapidly driving the market toward growth. On account of the aforementioned factors, the global automotive piston market size is anticipated to reach US$ 5.7 Billion by 2024, expanding at a CAGR of around 6% during the forecast period (2019-2024).

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Market Summary:

  • Based on the material, the market has been bifurcated into aluminum and steel automotive pistons. Amongst these, aluminum pistons are currently dominating the market.
  • On the basis of the vehicle, the market has been categorized into passenger cars, light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs). Presently, passenger cars hold the majority of the market share.
  • Based on the piston coating, the market has been segregated into thermal barrier, dry film lubricant and oil shedding. Currently, dry film lubricant piston coatings hold the largest market share.
  • On the basis of the piston type, the market has been divided into trunk, crosshead, slipper and deflector pistons.
  • Based on the distribution channel, the market has been classified into OEM and aftermarket.
  • Region-wise, the market has been categorized into Asia Pacific, Europe, Middle East and Africa, North America, and Latin America. At present, Asia Pacific holds the leading position in the market.
  • The competitive landscape of the market has also been analyzed with some of the key players operating being MAHLE GmbH, Aisin-Seiki Co. Ltd., KSPG AG, Hitachi Automotive Systems, Federal-Mogul, India Pistons Limited, Arias Piston, Capricorn Automotive, Ross Racing Piston, and Shriram Pistons and Rings.

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