PORTLAND, Oregon and PUNE, India, January 16, 2017 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Automotive Piston Market by Material, Type, Coatings, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2014-2022", the automotive piston market was valued at $11,234 million in 2015 and is projected to reach $15,705 million by 2022, growing at a CAGR of 4.8% from 2016 - 2022. Asia-Pacific accounted for the highest revenue share in 2015, and is anticipated to maintain its dominance throughout the forecast period.
Summary of the Automotive Piston Market Report can be accessed on the website at:
Piston system comprises a piston, piston rings, and piston pin; this system transfers the generated force to crankshaft through connecting rod. Piston generates mechanical energy that propels the crankshaft movement, which in turn, drives the wheels of the vehicle.
"Automotive piston is an engine component cylindrical in shape, which slides back and forth in the cylinder bore by the force produced by the expanding gas during the combustion process. Passenger cars and commercial vehicles such as heavy trucks and buses integrate more than four pistons, depending on the number of cylinders. Being an integral part of the automotive engine, the market is poised to grow on account of the increasing sales and production of automobiles. Numerous leading players focus on R&D to enhance their technical expertise and product portfolio, further supplementing the market growth", states Rachna Singh, Research Analyst at Allied Market Research.
The demand for automotive piston is driven by increase in sales & production of vehicles globally and advancement in technology such as integration of cooling channel in piston. However, technical advancements to downsize automotive engines and increase in penetration of electric vehicles hinder the growth of automotive piston market.
The automotive piston market is segmented on the basis of material type, piston type, coating type, vehicle type, and geography. By material type, aluminum piston segment would lead the market throughout the analysis period, accounting for around 67% of the overall automotive piston market revenue, owing to its qualities of being light-weight and having a low corrosion rate.
Geographically, Asia-Pacific automotive piston market is projected to witness lucrative growth opportunities, growing at a CAGR of 5.2% during the forecast period. Growth in the automotive sector and increasing use of double cylinder engines over single cylinder engine in premium segment bikes are the factors that drive the growth of the automotive piston market in the region.
KEY FINDINGS OF THE STUDY
- In 2015, aluminum piston led the overall automotive piston market, and is projected to grow at a CAGR of 4.6% during the forecast period.
- Trunk piston led the overall market in 2015, and is projected to grow at a CAGR of 4.3% from 2016 - 2022.
- Asia-Pacific accounted for the largest market share in 2015, and is anticipated to grow at a CAGR of 5.2% during the forecast period.
Key players that operate in the automotive piston market are Mahle Gmbh, Aisin-Seiki Co. Ltd., KSPG AG, Hitachi Automotive Systems, Federal-Mogul, Indian Piston Limited, Shriram Piston & Rings, Arias Piston, Capricorn Automotive, and Ross Racing Piston.
Read similar market research reports on Automotive & Transportation at: https://www.alliedmarketresearch.com/automotive-and-transportation-market-report
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research