Asia-Pacific Automotive Piston Market Overview and Growth by 2028
Asia-Pacific Automotive Piston Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material Type (Steel and Aluminum), Coating Type (Thermal Barrier Piston Coating, Dry Film Piston Coating, and Oil Shedding Piston Coating), Vehicle Type (Two Wheelers, Passenger Vehicles, and Commercial Vehicles), and Piston Type (Flat-top Piston, Dish Piston, and Dome Piston)
- Status : Published
- Report Code : TIPRE00025254
- Category : Automotive and Transportation
- No. of Pages : 144
- Available Report Formats :
- Last update date : October 09, 2021
2021 Market Size
US$ 2021.05 Mn
Base year value
2028 Forecast
US$ 3253.34 Mn
Projected by 2028
CAGR 2022-2028
7.0 %
Growth rate
Addressable Market
US$ 18,714.52 Mn
(2022-2028)
The automotive piston market in APAC is expected to grow from US$ 2021.05 million in 2021 to US$ 3253.34 million by 2028; it is estimated to grow at a CAGR of 7.0% from 2021 to 2028.
China, India, Japan, South Korea, and Thailand are economies in APAC. High wear and tear of engine components due to the rise in the overall operating life of vehicles is bolstering the sales of automotive pistons. Technological advancements and automation are allowing manufacturing companies to achieve greater productivity and profitability. The market players are engaged in making transportation more efficient, environmentally friendly, and more comfortable by continuously optimizing the combustion engine as well as by exploring the use of alternative fuels. OEMs are focusing on delivering greater vehicle efficiency and productivity. Mahle and Federal-Mogul, among others, are shifting from cast aluminum to lightweight and high-strength forged steel pistons that are more resilient to higher pressure and temperature values. Moreover, steel pistons are compatible with shorter and lighter engine block, and they consume less fuel than aluminum pistons. Modern aluminum pistons have an iron or steel insert to support the top ring. Therefore, companies have started large-scale production of steel pistons for mid-range power density diesel engines, which is anticipated to bring about new opportunities in the automotive piston market, especially in the leading-edge turbo-diesel applications.
The COVID-19 pandemic has not only disrupted the APAC’s economy and the region’s automobile market but has also changed the buyer attitude towards the sector. The region has witnessed a rise in demand for costly and safety features from customers which is making manufacturers invest in high end technological solutions and services. The car industry was the first economic victim of COVID-19 in China with the shutdown of major automotive production sites and manufacturing plants of companies such as GM, Honda, Nissan, and Renault in the Hubei Province. Other nations recorded some of the most dramatic double digit drops in vehicle sales due to their dependency on the China as well as interruptions caused by the pandemic. Difficulties in receiving appropriate amount of funding is anticipated to impact the market sales. As a result, OEMs will start discounting products which hinder profitability. Key players in the regional automotive piston market are turning towards innovations as a measure to deal with the financial crisis. China’s transformation from a low-tech to a high-tech global market, flexibility in the Japanese manufacturing industry, and adequate government support and business strategies in the Indian market will help the region to recover at a rapid pace. As nations start to witness a declining number of COVID-19 patients, many manufacturing plants and facilities are starting to open up in various regions of the continent and employees returning to work. Ease of lockdown measures, increasing demand trends of smaller-sized vehicles to avoid crowds, and reduction in tax rates are some of the key factors estimated to stimulate demand recovery in countries such as India, Japan, South Korea, and the Philippines.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the automotive piston market. The APAC automotive piston market is expected to grow at a good CAGR during the forecast period.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
APAC Automotive Piston Market Segmentation
APAC Automotive Piston Market – By Material Type
- Steel
- Aluminium
APAC Automotive Piston Market – By Coating Type
- Thermal Barrier Piston Coating
- Dry Film Piston Coating
- Oil Shedding Piston Coating
APAC Automotive Piston Market – By Vehicle Type
- Two Wheeler
- Passenger Vehicle
- Commercial Vehicle
APAC Automotive Piston Market – By Piston Type
- Flat-top Piston
- Dish Piston
- Dome Piston
APAC Trade Automotive Piston Market- By Country
- China
- India
- Japan
- South Korea
- Thailand
- Rest of APAC
APAC Automotive Piston Market-Companies Mentioned
- ART METAL MFG., LTD.
- Hitachi Astemo Americas, Inc.
- MAHLE GmbH
- QUFU JINHUANG PISTON CO., LTD
- Rheinmetall Automotive AG
- RIKEN CORPORATION
- Shandong Binzhou Bohai Piston Co., Ltd
- Tenneco Inc.
Asia-Pacific Automotive Piston Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 2021.05 Million |
| Market Size by 2028 | US$ 3253.34 Million |
| CAGR (2021 - 2028) | 7.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Material Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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