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(Transportation-News.com, November 17, 2017 ) “Automotive Piston Market: Global Demand Analysis & Opportunity Outlook 2024”
The global automotive piston market is segmented into type such as steel piston and aluminum piston. Among these segments, aluminum automotive piston segment is expected to occupy top position in overall automotive piston market during the forecast period. Rising demand for lightweight piston is expected to propel the growth of automotive industry during the forecast period. Further, rising demand for two wheeler vehicles in developing nations such as India and China are anticipated to drive the growth of aluminum piston market.
Global automotive piston market is expected to flourish at a significant CAGR of 5.1% during the forecast period. Moreover, the global automotive piston market is expected to garner USD 15,910 Million by the end of 2024. Rising production and demand for automobiles across the globe is driving the growth of automotive piston market. Moreover, changing travel patterns coupled with increasing disposable income, low penetration of public transportation in most developing cities are increasing the demand for automotive piston which further is expected to bolster the growth of automotive piston market during the forecast period.
Asia Pacific showcased the highest demand for automotive piston in 2016. Further, riding on the back of factors like rapid growth in automobile sector and rising use of double cylinder engine in the motorcycle, Asia-Pacific is projected to continue its dominance during the forecast period. In Asia-Pacific region, China, Japan, South Korea and India are the major countries which are creating a huge demand for the automotive piston. After Asia-Pacific, Europe is the biggest market and expected to showcase a tremendous growth over the forecast period i.e. 2017-2024. Increasing demand and sale of automobiles in the Europe is the major factor which is fuelling the demand for automotive piston market.
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Rise in the Sale of Automotive Vehicle in the World
Increasing sale and production of vehicles globally is driving the growth of automotive piston market. Apart from this, expansion in the untapped market of developing regions is anticipated to bolster the growth of the automotive piston market. Further, rising disposable income of the population is expected to garner the growth of the automotive piston market.
Technological Advancements and Innovations
Advances in technologies such as double cylinder engines in two wheelers are anticipated to drive the growth of the automotive piston market. Moreover, increasing demand for lightweight piston is expected to foster the growth of the global automotive piston market in the upcoming years. Although, increasing penetration of electric vehicle and alternative technologies such as turbocharging which reduces the number of cylinders in the vehicle are some of the key factor which is likely to dampen the growth of Automotive Piston Market during the forecast period.
The report titled “Automotive Piston Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global automotive Piston market in terms of market segmentation by material, by type, by coating, by vehicle and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global automotive Piston market which includes company profiling of Mahle Gmbh, Aisin-Seiki Co. Ltd., KSPG AG, Hitachi Automotive Systems, Inc., Federal-Mogul LLC, Indian Piston Limited, Arias Piston, Capricorn Automotive and Ross Racing Piston. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive Piston market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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