According to our latest market study on "Automotive Cast Iron Cylinder Head Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Engine Type, Vehicle Type, and Geography," the market is expected to grow from US$ 5,878.38 million in 2021 to reach US$ 7,888.85 million by 2028; it is anticipated to grow at a CAGR of 4.3% from 2021 to 2028.
The automobile iron cast cylinder head market deals with various issues such as energy, pollution, safety, and cost. One of the most important techniques for addressing these issues is to lighten the load on the engine. A systems-engineering design optimization and iteration process that integrates material characteristics and manufacturing methods to satisfy product requirements at the lowest mass and cost is required to maximize weight reduction of the cylinder head. Advanced high-strength steels, aluminum and magnesium alloys, and carbon–fiber-reinforced plastics have risen as essential lightweight materials for automobiles. The replacement of cast iron and conventional steel components with lightweight materials, such as high-strength steel, magnesium (Mg) alloys, aluminum (Al) alloys, carbon fiber, and polymer composites, can reduce a vehicle's body and chassis up to 50%. A 10% reduction in vehicle weight might result in a 6% to 8% increase in fuel economy. Recently introduced automobile regulations demand lower CO2 emissions and higher fuel efficiency, which encourage companies to invest in the automotive cast iron cylinder head market. Therefore, advancements in manufacturing processes and a rise in alternative materials use would provide lucrative opportunities for the growth of the automotive cast iron cylinder head market during the forecast period.
The global automotive cast iron cylinder head market is segmented based on engine type, vehicle type, and geography. Based on engine type, the global automotive cast iron cylinder head market is segmented into straight or inline engine, v-type engines, and flat engines. In 2020, the straight or inline segment held the larger market share. In terms of vehicle type, the automotive cast iron cylinder head market is segmented into two wheelers, passenger cars, light commercial vehicles, and heavy commercial vehicles. In 2020, the heavy commercial vehicles segment accounted for the largest market share. Geographically, the automotive cast iron cylinder head market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for a significant share in the global automotive cast iron cylinder head market.
The COVID-19 outbreak negatively affected the overall growth rate of the global automotive cast iron cylinder head market in 2020 to some extent. This can be attributed to a decline in revenue and growth of companies operating in the market, owing to supply and demand disruptions across the value chain. Thus, there was a decline in the y-o-y growth rate during 2020. However, the rise in vaccinations, COVID-19 safety protocols, and relaxations of lockdown restrictions would positively impact the production capabilities of both civil and body electronics. This is expected to normalize the automotive iron cast cylinder head market growth from 2021 to 2028.
TOYOTA INDUSTRIES CORPORATION; Yamaha Motor Co., Ltd.; Cummins Inc.; Sandvik Coromant; YASUNAGA CORPORATION; Nemak, Silbitz Group GmbH; Mauss GmbH; Cooper Corp.; and TEKSID S.P.A are among the major companies operating in the automotive cast iron cylinder head market.