CAGR: 5.11%Current Market Size: USD 10.1 BillionFastest Growing Region: Europe
Largest Market: APACProjection Time: 2023-2030Base Year: 2022
The global automotive piston market is expected to grow from USD 10.1 billion in 2022 to USD 31.11 billion by 2030, at a CAGR of 5.11% during the Projection period 2023-2030. The growth of the automotive piston market is mainly driven by the rising usage of automobiles worldwide.
The piston is the key moving part that is built into the cylinder of an automotive engine to tighten the gas by piston rings. It is utilised in pneumatic cylinders, motors, gas compressors, and reciprocating pumps. The piston mechanism enables the crankshaft to transmit force created to the connecting rod, which in turn stimulates the vehicles' wheels. The automobile industry is where it is primarily used. Depending on the cylinder bore of the motor, pistons can come in a variety of sizes and materials. Proper piston material and size are crucial for maintaining the required compression ratio. Due to the high compression ratio of diesel engines, gasoline engine pistons typically have fewer piston rings than diesel engine pistons. To withstand high temperatures, the majority of pistons are constructed from alloys of aluminium and steel. Due to the exponential development in both the demand for and the manufacturing of automobiles, the piston is in increasingly high demand. Thus, the manufacturing of automobiles ultimately determines the demand for the piston. The lightweight piston is ideal for boosting the engine's efficiency. As a result, the need for ongoing engine development drives the expansion of the global market.
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Market Dynamics:
Drivers:
The global market for automotive piston systems is anticipated to expand as more cars, including two-wheelers, four-wheelers, and other types of cars, are sold. The demand for pistons is anticipated to increase even more due to growing car demand, particularly in the two-wheeler segment in emerging nations like India, which would favorably affect the worldwide automotive piston system market. In addition, double-cylinder engines are increasingly preferred by the two-wheeler industry over conventional single-cylinder engines, especially in the high-end bike category. The global automotive piston system market is anticipated to expand alongside the rise in high-end motorcycle manufacturing since a double-engine cylinder requires two pistons as opposed to a single cylinder, which only needs one piston.
Restraints:
The growing popularity of electric vehicles, which don't utilize pistons, is one of the biggest obstacles facing the global market for automotive pistons. Engine downsizing to reduce weight and improve fuel efficiency is another barrier in the global automotive piston system market. Utilizing technology like turbochargers, automakers have been able to downsize engines by lowering the number of cylinders while keeping engine output.
Opportunities:
The increased emphasis placed by automakers on creating lightweight pistons with the best efficiency possible in order to improve engine performance. Globalization has significantly increased the automobile sector, and the manufacturers' emphasis on enhancing comfort and lowering fuel consumption is one of the key drivers driving this market's expansion. Increased sales of passenger cars and two-wheelers as a result of the rising urbanization and globalization of the world. Additionally, one of the key reasons driving the worldwide automotive piston market over the Projection period is the rise in consumer buying power and living standards in developing countries.
Challenges:
The growing popularity of electric vehicles, which don't utilize pistons, is one of the biggest obstacles facing the global market for automotive pistons. Engine downsizing to reduce weight and improve fuel efficiency is another barrier in the global automotive piston system market. Utilizing technology like turbochargers, automakers have been able to downsize engines by lowering the number of cylinders while keeping engine output.
Segmentation Analysis:
The global automotive piston market has been segmented based on material, piston coating type, and region.
By Material
The material segment is steel and aluminum. The Aluminium segment led the largest share of the automotive piston market with a market share of around 55% in 2022. The elements that contribute to a higher rate of heat conductivity aid in reducing the development of carbon, and improved thermal efficiency may be ensured by using higher compression, which increases demand for this market.
By Piston Coating Type
The piston coating type segment is thermal barrier coating piston, dry film lubricating coating piston, and oil shedding coating piston. The thermal barrier coating piston segment led the largest share of the automotive piston market with a market share of around 40.3% in 2022. The thermal barriers are ceramic coverings that, rather than absorbing heat, reduce the migration of that energy. The piston top is treated with TBC to improve the engine's overall combustion efficiency.
Global Automotive Piston Market - Sales Analysis.
The sale of the automotive piston market expanded at a CAGR of 4% from 2016 to 2022.
Automobile sales are rising across a variety of segments, including two- and four-wheelers, and are anticipated to fuel the expansion of the worldwide automotive piston market. Additionally, double cylinder engines are preferred over traditional single cylinder engines for premium segment bikes in the two-wheelers industry.
It is anticipated that an increase in the manufacturing of premium category bikes will aid in the expansion of the worldwide automotive piston market. The demand for light and heavy commercial vehicles as well as passenger cars is expected to increase, which would further support the expansion of the global industry. The growth of the worldwide Automobile Piston Market is primarily driven by ongoing R&D in the automotive industry to improve the fuel efficiency of engines.
Thus, owing to the aforementioned factors, the global automotive piston market is expected to grow at a CAGR of 5.11% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the automotive piston market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific region dominated the automotive piston market and held a 38.2% share of the market revenue in 2022.
Global Automotive Piston Market - Country Analysis:
Germany's automotive piston market size was valued at USD 1.75 billion in 2022 and is expected to reach USD 2.32 billion by 2030, at a CAGR of 5.2% from 2023 to 2030. The market in the region will grow as a result of rising vehicle production and sales, the adoption of cutting-edge technology to create lightweight, fuel-efficient vehicles, strict government regulations pertaining to fuel efficiency, and continuing initiatives.
China’s automotive piston market size was valued at USD 1.98 billion in 2022 and is expected to reach USD 3.08 billion by 2030, at a CAGR of 5.4% from 2023 to 2030. The Projection period will see the highest growth rate for the passenger vehicle category due to the rising sales of two-wheelers and other types of vehicles in emerging markets like China.
India's automotive piston market size was valued at USD 1.76 billion in 2022 and is expected to reach USD 2.37 billion by 2030, at a CAGR of 5.3% from 2023 to 2030. When it comes to sales of vehicles with internal combustion engines, India has led the automobile industry. For instance, there was a 17.32% year-over-year reduction in the number of passenger vehicles registered in India from 2,936,626 in 2019 to 2,427,883 in 2020. Only 1,554 of the total vehicles registered in 2020 were electric vehicles, demonstrating the sizeable demand for piston engine systems in the nation.
Key Industry Players Analysis:
To increase their market position in the global automotive piston market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
5.10% |
Market Size |
10.1 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Material, By Piston Coating Type, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Aisin-Seiki Co. Ltd., Federal-Mogul, Capricorn Automotive, KSPG AG, Mahle Gmbh, Shriram Piston and Rings, Hitachi Automotive Systems, Indian Piston Limited, Arias Piston, and Ross Racing Piston. |
By Material |
|
By Piston Coating Type |
|
Regional scope |
|
Scope of the Report
Global Automotive Piston Market By Material:
Global Automotive Piston Market By Piston Coating Type:
Global Automotive Piston Market By Region:
Global automotive piston market is expected to reach USD 31 billion by 2030.
The automotive piston market is projected to have a CAGR of 5.11%.
The global market for automotive piston systems is anticipated to expand as more cars, including two-wheelers, four-wheelers, and other types of cars, are sold. The demand for pistons is anticipated to increase even more due to growing car demand, particularly in the two-wheeler segment in emerging nations like India, which would favorably affect the worldwide automotive piston system market.
Based on the piston coating type, the global automotive piston market has been segmented into thermal barrier coating piston, dry film lubricating coating piston, and oil shedding coating piston.
Leading market players active in the global automotive piston market are Aisin-Seiki Co. Ltd., Federal-Mogul, Capricorn Automotive, KSPG AG, Mahle Gmbh, Shriram Piston and Rings, Hitachi Automotive Systems, Indian Piston Limited, Arias Piston, and Ross Racing Piston among other