PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1621933
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1621933
Piston Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
The Global Piston Market was valued at USD 2.7 billion in 2023 and is expected to grow at a CAGR of 5% from 2024 to 2032. The increasing demand for lightweight, fuel-efficient engines is a key factor driving this growth, with aluminum being the material of choice due to its superior properties. The lightweight nature, strong strength-to-weight ratio and high thermal conductivity of aluminum is ideal for enhancing engine performance and fuel efficiency. Its ability to dissipate heat efficiently helps prevent engine overheating, while its ease of manufacturing and cost-effectiveness make it popular for passenger and light commercial vehicles where efficacy and cost are essential. In terms of materials, the market is segmented into aluminum and steel.In 2023, aluminum dominated with a market value of USD 1.9 billion and is anticipated to reach USD 2.9 billion by 2032.
This material leads the industry due to its significant benefits, including reduced weight and improved fuel economy. Additionally, aluminum's excellent thermal properties and lower manufacturing costs give it an edge over alternatives like steel and cast iron. By vehicle type, passenger vehicles held a substantial 65% share of the market in 2023 and are expected to maintain significant growth through 2032. This dominance is attributed to high production volumes and the growing global demand for personal transportation. The rising population, urbanization, and the need for mobility are driving car production, and with internal combustion engines still in wide use, the demand for pistons remains strong.
Regionally, Asia Pacific led the global piston market in 2023, generating revenue of USD 1.1 billion. The region's stronghold can be attributed to its well-established automotive manufacturing industry and rapidly expanding vehicle demand. Countries such as China and India play a key role in this dominance, driven by urban growth, increasing disposable incomes, and the emergence of a large middle class. The presence of leading automotive manufacturers and robust supply chains further contribute to the region's competitive advantage in piston production.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $2.7 Billion |
| Forecast Value | $4.1 Billion |
| CAGR | 5% |
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definition
- 1.2 Base estimates & calculations
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Key manufacturers
- 3.1.2 Distributors
- 3.1.3 Profit margins across the industry
- 3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.2 Market challenges
- 3.2.3 Market opportunity
- 3.2.3.1 New opportunities
- 3.2.3.2 Growth potential analysis
- 3.3 Raw material landscape
- 3.3.1 Manufacturing trends
- 3.3.2 Technology evolution
- 3.3.2.1 Sustainable manufacturing
- 3.3.2.1.1 Green practices
- 3.3.2.1.2 Decarbonization
- 3.3.2.1 Sustainable manufacturing
- 3.3.3 Sustainability in raw materials
- 3.3.4 Raw material pricing trends (USD/Ton)
- 3.3.4.1 North America
- 3.3.4.2 Europe
- 3.3.4.3 Asia Pacific
- 3.3.4.4 Middle East and Africa
- 3.3.4.5 Latin America
- 3.4 Regulations & market impact
- 3.5 Porter's analysis
- 3.6 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Company market share analysis
- 4.2 Competitive positioning matrix
- 4.3 Strategic outlook matrix
Chapter 5 Market Size and Forecast, By Material, 2021-2032 (USD Billion, Kilo Tons)
- 5.1 Key trends
- 5.2 Aluminum
- 5.3 Steel
Chapter 6 Market Size and Forecast, By Vehicle, 2021-2032 (USD Billion, Kilo Tons)
- 6.1 Key trends
- 6.2 Passenger vehicles
- 6.3 Light commercial vehicles
- 6.4 Heavy commercial vehicles
Chapter 7 Market Size and Forecast, By Component, 2021-2032 (USD Billion, Kilo Tons)
- 7.1 Key trends
- 7.2 Piston head
- 7.3 Piston ring
- 7.4 Piston pin
Chapter 8 Market Size and Forecast, By Region, 2021-2032 (USD Billion, Kilo Tons)
- 8.1 Key trends
- 8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 South Korea
- 8.4.5 Australia
- 8.4.6 Rest of Asia Pacific
- 8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Argentina
- 8.5.4 Rest of Latin America
- 8.6 MEA
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 South Africa
- 8.6.4 Rest of MEA
Chapter 9 Company Profiles
- 9.1 AISIN CORPORATION
- 9.2 Art-Serina Piston Co., Ltd.
- 9.3 Dongsuh Federal-Mogul Co., Ltd.
- 9.4 Hitachi, Ltd.
- 9.5 MAHLE GmbH
- 9.6 PMG Holding
- 9.7 Rheinmetall AG
- 9.8 RIKEN CORPORATION
- 9.9 Shriram Pistons & Rings Ltd.
- 9.10 Tenneco Inc.
- 9.11 Honda Foundry Co., Ltd.
