Automotive Piston Market to Grow at a CAGR of 6.0% to reach US$ 5,815.15 Million from 2020 to 2028

Automotive Piston Market Forecast to 2028 - COVID-19 Impact and Global 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) and Geography

Publication Month : Aug 2021

  • Report Code : TIPRE00004327
  • Category : Automotive and Transportation
  • Status : Published
  • No. of Pages : 174
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The automotive piston market was valued at US$ 3879.92 million in 2021 and it is projected to reach US$ 5,815.15 million by 2028; it is expected to grow at a CAGR of 6.0% from 2021 to 2028.

Rise in the manufacturing of the internal combustion engine (ICE) vehicles is boosting the demand for automotive pistons to achieve fuel efficiency, reduce emissions, and enhance flexibility and reliability. The increasing sales of ICE vehicles in APAC and the MEA is encouraging manufacturers to produce better and environment-friendly vehicle components, such as pistons and lubricants. The demand for automotive pistons is increasing significantly owing to the rising automotive vehicle manufacturing and production activities across the world. Pistons made of steel have the capability to withstand high temperatures, thereby improving the efficiency of engine. Steel pistons reduce fuel consumption and CO2 exhaust and emissions. They are lightweight and have a lower compression height. Aluminum is the most-commonly used material for making automotive pistons owing to its features, such as lightweight, thermal conductivity, corrosion resistance, and casting characteristics.

Impact of COVID-19 Pandemic on Automotive Piston Market

The sudden COVID-19 outbreak pandemic has shaken the automotive sector in every region owing to the combination of factors such as factory shutdowns, travel bans, and limited consumer spending power, which created disaster for the newer vehicle market. The pandemic has hampered the production in the global automotive sector. The restricted supply chain has also created a massive gap between supply and demand for the automotive pistons. Inadequate raw material supply has disrupted economies and weakened production, leading to a collapse in demand. However, developments and technological upgrades are anticipated to boost the demand for vehicles with efficient fuel consumption technologies, thereby propelling the adoption of automotive pistons. The component manufacturers observed significant tremors in 2020, which showcased decline in automotive component manufacturing and subsequently the industry size. On the other hand, due to business lockdowns, travel bans, and supply chain disruptions, the manufactures of the automotive piston market are impacted negatively.

Lucrative Regions in Automotive Piston Market

Lucrative Regions in Automotive Piston Market

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Market Insights– Automotive Piston Market

Massive Production of ICE Vehicles

Internal combustion engine (ICE) vehicles such as passenger cars, light commercial vehicles (LCVs) account for a major share of the total vehicles usage in developing countries such as China, India, South Korea, Mexico, Brazil, and South Africa, which has led to increase in the manufacturing of various models of these vehicles. This has, subsequently, augmented the demand for small-bore pistons, large-bore pistons, bearings, and castings that contribute to weight reduction, emission reduction, and improved performance, among other advantages. Demand for advanced and high-tech features, and technological innovations as well as concerns regarding environmental safety are compelling OEMs to focus on the production and adoption of highly accurate and high-performance piston designs, thereby promoting the development of long-lasting pistons that can withstand stress, and wear and tear caused by engine operations. Mechanical simplicity, flexibility and reliability, and multi-fuel capabilities are among the other features driving the adoption of automotive pistons. Further, the rising demand for gasoline-powered vehicles is contributing to the automotive piston market during the forecast period.

Piston Type-Based Insights

Based on piston type, the automotive piston market is segmented into compact flat-top piston, dish piston, and dome piston. The compact flat-top piston segment held the largest market share in 2020.

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Automotive Piston Market: Strategic Insights

Market Size Value inUS$ 3879.92 Million in 2021
Market Size Value byUS$ 5,815.15 Million by 2028
Growth rateCAGR of 6.0% from 2021-2028
Forecast Period2021-2028
Base Year2021
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Players operating in the automotive piston market are mainly focused on the development of advanced and efficient products.

  • In 2021, Rheinmetall Technology Group’s subsidiary KS Kolbenschmidt GmbH of Neckarsulm, Germany; auto parts maker ZYNP Corporation of Mengzhou, China; and the Riken Corporation of Tokyo partnered and started a new Tech Center in Nanjing, China. The center is going to offer modern steel pistons related customer service and subsequently increase its market in the Nanjing.
  • In 2020, MAHLE GmbH developed aluminum pistons with the co-operation of sports car manufacturer Porsche and mechanical engineering company Trump. It produced high-performance aluminum pistons using 3D printing techniques for the first time. The company is developing its expertise in 3D printing, so that, in the future, it will also be able to support its customers in the field of alternative drives, such as electric drives, by supplying suitable components for drives, thermal management.

The automotive piston market has been segmented as follows:

Automotive Piston Market – by Material Type

  • Steel
  • Aluminium

Automotive Piston Market – by Coating Type  

  • Thermal Barrier Piston Coating
  • Dry Film Piston Coating
  • Oil Shedding Piston Coating

Automotive Piston Market – by Vehicle Type

  • Two Wheelers
  • Passenger Vehicles
  • Commercial Vehicles

Automotive Piston Market – by Piston Type

  • Flat-top Piston
  • Dish Piston
  • Dome Piston

Automotive Piston Market – by Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • Japan
    • South Korea
    • Thailand
    • Rest of APAC
  • Middle East and Africa
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Argentina
    • Rest of SAM

Automotive Piston Market – Company Profiles

  • Arias Pistons
  • Art Metal Manufacturing, Ltd
  • Capricorn Motors Pvt. Ltd.
  • Hitachi Astemo Americas, Inc
  • RIKEN Corporation
  • MAHLE GmbH
  • Tenneco Inc.
  • Rheinmetall Automotive
  • Binzhou Bohai Piston Co., Ltd.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Material Type ; Coating Type ; Vehicle Type ; and Piston Type and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, South Africa, South Korea, Thailand, United Kingdom, United States

Frequently Asked Questions

What are key driving factors behind automotive piston market growth?

The automotive piston have been in use for several years worldwide, however, the technology has been experiencing immense demand in recent years. The noteworthy growth in the demand of electric vehicle and usage of lightweight piston by companies is supporting the growth of automotive piston market. The massive production of ICE vehicle and increasing usage of lightweight automotive piston for improving efficiency of engine are the crucial growth parameters for the automotive piston market.

What are key market opportunities for automotive piston market?

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. Hydrogen-fueled combustion engine technology and technological innovations in ICEs such as intelligent combustion management systems as well as improvements in fuel efficiency to achieve power advantages and lower emission level will provide growth opportunities to the market players during the forecast period.

Which piston type dominated the market in 2020?

The global automotive piston market was dominated by the flat-top piston segment with market share of 65.6% in 2020. The increasing awareness among the market players about the advantages of the flat top piston is projected to increase investments in the segment, which lead to an increased production and sales, thereby boosting the segment growth.

Which region has dominated the automotive piston market in 2020?

In 2020, APAC led the market with a substantial revenue share, followed by Europe and North America. Asia Pacific is a prospective market for automotive piston market players.

Which are the major companies operating in the automotive piston market?

The major companies in automotive piston includes Art Metal Mfg., Ltd; MAHLE GmbH; Tenneco Inc.; TPR; and Rheinmetall Automotive Ag;. The ranking has been derived analysing multiple parameters such as annual revenue earned from automotive piston portfolio, client base, geographic locations, R&D expenditure, brand image, and number of employees, among others. These companies are actively participating in developing automotive piston for various applications.

Which country holds a dominating share in APAC region?

China led the automotive piston market globally with a market share of 40.1% in the year 2020. All major automotive manufacturers, including Tesla, VW, Toyota, Honda, Hyundai, General Motors, Suzuki, Renault, Mercedes-Benz, BMW and Audi and others have their manufacturing facilities in the country. Also, China's growing demand for high-performance vehicles is expected to drive up demand for automotive pistons.

The List of Companies - Automotive Piston Market

  1. Arias Pistons
  2. Art Metal Mfg., Ltd
  3. Capricorn Automotive
  5. Hitachi Astemo Americas, Inc
  6. RIKEN Corporation
  7. MAHLE GmbH
  8. Tenneco Inc.
  9. Rheinmetall Automotive Ag
  10. Shandong Binzhou Bohai Piston Co., Ltd

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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