Automotive Piston Market Size, Share & Industry Analysis, By Component Type (Piston, Piston Rings, and Piston Pin), By Coating Type (Oil Shedding, Dry Film Lubricating, and Thermal Barrier), By Vehicle Type (Passenger Car and Commercial Vehicles) and Regional Forecast, 2019-2026

The global automotive piston market size was valued at USD 12.87 billion in 2018 and is projected to grow USD 15.39 billion by 2026, exhibiting a CAGR of 2% during the forecast period. The market growth is driven by increasing demand for fuel-efficient vehicles, advanced engine technology, global automotive production growth, and strict emissions regulations, fueled by innovations in piston design.

The piston is the most vital component in the internal combustion engine of any vehicle. The piston system comprises the piston, piston rings, and piston pins. The piston consists of a cylinder that slides back and forth by the force developed by the gases during the combustion process. A mixture of air and fuel is injected inside the piston and the fuel is ignited with a spark plug. This creates pressure which pushes the piston downward and propels the crankshaft that in turn drives the wheels of the vehicle. The diesel engine piston consists of more piston rings as compared to gasoline engine piston as there is a high compression ratio. The pistons are mostly made of alloys to sustain the high temperatures. Globally, the rising number of vehicles is ultimately propelling the automotive piston market growth.

MARKET TRENDS

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Lightweight Automotive Piston to Accelerate Market Growth

The most significant challenge of the automotive industry is to improve the engine performance of the vehicle. This objective can be achieved by reducing the overall size and weight of all the components in the engine. The piston is one of the most vital and integral components of the engine, which reciprocates within the engine to attain motion. Nowadays, aluminum alloys are gaining popularity owing to their beneficial characteristics such as lightweight, maximum corrosion resistance, greater strength, high durability, and enhanced operating capacity at high temperatures. Therefore, using cast aluminum alloy to make pistons will ensure high efficiency in reciprocating motion, which will set the automotive piston market trends. Thus, the increasing inclination of automakers towards lightweight automobile engines is estimated to drive the growth of the market. The automotive manufacturing companies are investing a high percentage of their finances on research for developing new technologies in automobile engines to enhance fuel efficiency and overall performance of vehicles.

MARKET DRIVERS

Rising Demand for High-Performance Vehicles in Developing Countries to Drive Market Growth

High-performance vehicles consist of more pistons than average performance vehicles. Rising demand for high-performance vehicles in developing countries such as India and China is likely to boost the demand for automotive pistons. Also, owing to increasing urbanization, changing demographics, improving the standard of living, and rising spending capacity of people is leading to the growth of vehicle sales across the globe. The surge in the demand for high-performance vehicles in the developed countries is also driving the market revenue. Increasing inclination towards comfort, safety, and convenience is propelling the demand for high-performance vehicles coupled with more numbers of pistons. Moreover, the young population is also inclined towards high speed, luxury, and comfort.

Increasing Production and Sales of Automobiles Across the Globe is Anticipated to Drive the Market’s Growth

Globally, increasing urbanization, expansion of industrialization, developing road infrastructures, and improvement in the standard of living are the foremost factors that are leading the growth of the automotive industry. The rise in disposable income is propelling the automotive market. The trend toward low emission and fuel economy vehicles is ultimately boosting the automotive piston market outlook.

Moreover, the prominent automotive manufacturing companies are investing heavily in research to innovate and develop advanced technology in automobiles to serve their customers with the latest technologically equipped vehicles and maintain a good position in the market. Furthermore, governments are also taking various initiatives and providing subsidies to promote the use of automobiles in their countries. Governments are also investing in research to boost the automotive sector. The transition from BS-IV to BS-VI emission norms is expected to boost the production and sale of automotive vehicles in the coming years.

MARKET RESTRAINT

Increasing Adoption of Electric Vehicles is likely to hamper the Growth of the Piston Market

The global automotive industry is experiencing a shift from conventional fuel vehicles to electric vehicles.  Increasing emissions caused by vehicles are leading to air pollution and the global warming crisis. The prominent automotive manufacturing companies are inclining more towards sustainable sources of energy. The manufacturers are spending heavily on research to develop vehicles with advanced technologies and are adopting the electric mode of energy in vehicles. Increasing the inclination of people towards zero-emission vehicles may adversely affect the market prospects. The emerging electric vehicle market will hamper the growth of the market as electric vehicles do not consist of a piston engine.

SEGMENTATION

By Component Type Analysis

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Piston Segment to Dominate the Market

Based on component type, the market is segmented into the piston, piston rings, and piston pins. The piston segment has a high penetration in the market owing to the high volume of vehicles across the globe. The piston is considered the most significant component in the combustion engine of a vehicle. The rising trend of lightweight and fuel-efficient vehicles is compelling the automotive manufacturing companies to invest heavily in research to find out new technologies to reduce the weight of the vehicle as well as increase the performance of the vehicle at the same time. Casting aluminum alloys are gaining popularity in the piston market owing to their lightweight and capacity to withstand high temperatures. Moreover, the surge in the demand for pistons is directly coupled with increasing automobile production. Continuous development in the automotive industry is creating demand for lightweight and highly durable pistons, thus leading the growth of this market across the globe.

By Coating Type Analysis

Thermal Barrier Coating (TBC) to Hold the Largest Market Share

Based on the coating type, the market is segmented into oil shedding, dry film lubrication, and thermal barrier. The thermal barrier coating is widely used for coating pistons and other components of the engine. The thermal barriers are ceramic coatings that reduce the migration of heat by reflecting it rather than absorbing it. The energy produced in the internal combustion engine is partially lost due to friction, exhaust, and cooling the engine components, etc. To make total use of energy, the loss of energy should be reduced. One of the best ways of reducing energy loss is to use thermal barrier coating on various components such as piston, chambers, valves etc. The application of TBC on the piston top helps improve the complete combustion efficiency of the engine. The heat-reflecting property of the thermal barrier coating is expected to create demand in this market.

By Vehicle Type Analysis

Commercial Vehicles to Hold the Largest Market Share

In terms of vehicle type, the market is segmented into passenger cars and commercial vehicles. The commercial vehicle segment holds the largest market share. The application of automotive pistons in commercial vehicles is more as compared to passenger cars. In terms of volume, the commercial vehicle segment dominates the market. Also owing to the usage of commercial vehicles for mining, construction, logistics, and transportation, this market is expected to show significant growth during the forecast period. Furthermore, various initiatives taken by governments to promote the sale of automotive vehicles is also propelling the growth of the market.

REGIONAL ANALYSIS

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Asia-Pacific holds the largest share in the market owing to increased production and sales of vehicles in this region. Countries such as India, China, and Japan are adopting advanced technologies to develop fuel-efficient and lightweight vehicles, leading to the growth of this market in Asia Pacific. Furthermore, the rise in the disposable income of people and raising awareness of fuel efficiency among the buyers and manufacturers are also fueling the growth of the market in this region. North America is also expected to show exponential growth into the maximum number of commercial vehicles in this region. The presence of prominent automotive manufacturing companies is contributing to their market expansion in the region. The stringent government norms towards fuel efficiency and lightweight of vehicles are propelling the market growth. Europe is also expected to show steady growth in the piston market owing to slower sales and production in this region. Stringent emission regulations in this region is affecting sales of conventional fuel engine sales.

KEY INDUSTRY PLAYERS

MAHLE is a leading German automotive parts supplier and international development partner to the prominent players in the automotive industry and a pioneer in future mobility. The company develops intelligent engine components to monitor operating conditions such as real-time conditions and temperature to provide a long service life.

The continuous development and innovation by MAHLE will help the company to maintain its dominance in the global market.

LIST OF KEY COMPANIES PROFILED:

• Continental AG


• Tenneco Inc.


• Aisin Seiki Co., Ltd.


• Rheinmetall Automotive AG


• Honda Foundry Co. Ltd


• Hitachi Ltd.


• Dongsuh Industrial Co., Ltd.


• MAHLE Group

KEY INDUSTRY DEVELOPMENTS

• February 2019 – MAHLE Develops New Steel Pistons for Passenger Cars MAHLE, a leading international development partner and supplier to the prominent players in the automotive industry and a pioneer in the future mobility, has started its new production process to develop steel pistons for passenger cars with powerful engines.


• May 2017 - Hitachi Ltd will increase production capacity to fulfill rising demand of China and Japan Hitachi Metals Ltd will increase the production capacity of its plants to fulfill rising demand for piston rings materials in China and Japan. The company will expand its production capacity to fulfill the supply chain demand by investing in production plants.  


• March 2018 - Rheinmetall Automotive AG received first order for next-generation gasoline engine pistons Rheinmetall Automotive AG has been awarded the first latest Liteks 4 technology new generation gasoline engine pistons by the joint venture between a leading group of companies of China and major international automakers. Rheinmetall Automotive AG will fulfill OEMs requirement for the low friction and very lightweight pistons.

REPORT COVERAGE

This automotive piston market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the growth of the market over recent years.

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