PUBLISHER: The Business Research Company | PRODUCT CODE: 1539799
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539799
A steel piston, typically made from steel alloys, is a critical component in internal combustion engines. Its primary role within the engine cylinder is to convert the energy produced by fuel combustion into mechanical motion. Steel pistons are highly valued for their durability, heat resistance, and strength, making them well-suited for rigorous applications where reliability and longevity are essential.
The key parts of a steel piston include the piston head, piston ring, and piston pin. The piston head is the uppermost section of the piston that directly interacts with the combustion gases in the engine. Its design and material composition are crucial for withstanding high pressures and temperatures. Steel pistons come in various configurations such as flat top, bowl, and dome shapes, and can feature coatings such as dry film lubricants, thermal barriers, and oil-repelling coatings. Steel pistons are used across different fuel types including gasoline, diesel, and alternative fuels, and find application in various vehicle types such as passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs).
The steel piston market research report is one of a series of new reports from The Business Research Company that provides steel piston market statistics, including steel piston industry global market size, regional shares, competitors with a steel piston market share, detailed steel piston market segments, market trends, and opportunities, and any further data you may need to thrive in the steel piston industry. This steel piston research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The steel piston market size has grown strongly in recent years. It will grow from $2.18 billion in 2023 to $2.29 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth observed in the historic period can be attributed to several factors, including increased automotive production, stricter environmental regulations, growth in power generation, rising popularity of energy storage solutions, and increased demand for automotive parts.
The steel piston market size is expected to see strong growth in the next few years. It will grow to $2.82 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The anticipated growth in the forecast period is driven by increasing demand for lightweight components, higher adoption rates of electric vehicles, a stronger focus on enhancing engine efficiency, increased investments in automotive innovation, and rising demand within the aerospace and defense sectors. Key trends expected during this period include technological advancements, the use of lightweight materials, widespread adoption of electric vehicles, development of high-performance engines, and integration with turbocharged engines.
The growth of the automotive industry is poised to drive expansion in the steel piston market in the coming years. The automotive industry encompasses the entire process from designing, developing, manufacturing, marketing, to selling motor vehicles, including cars, trucks, motorcycles, and their components. This industry is on the rise globally, driven by trends such as the development of electric vehicles (EVs) and autonomous driving technology, despite challenges such as supply chain shortages and labor issues. Steel pistons play a crucial role in supporting the automotive industry by enhancing engine efficiency, durability, and performance, thereby meeting demands for improved fuel economy and reduced emissions. For example, in 2023, the International Organization of Automobile Manufacturers (OICA) reported significant growth in the global automotive sector in 2022, with total vehicle production reaching 84.83 million units, up from 80.00 million units in 2021. Therefore, the growing automotive industry is a key driver of growth in the steel piston market.
Leading companies in the steel piston market are focusing on innovation to develop advanced products such as heavy-duty steel piston kits, aimed at enhancing fuel efficiency and overall engine performance. These kits are tailored for high-performance or industrial engines that require robust and durable pistons. For instance, in January 2022, MAHLE GmbH, a Germany-based automotive parts manufacturer, introduced the Ford EcoBoost 2.3L PowerPak Plus piston kit. This kit features robust pistons with a 0.235-inch thick top and 0.200-inch second ring lands, designed to work with OE 149.3mm connecting rods and 22.5mm wrist pins. It supports a 9.5,1 compression ratio for both 2-liter and 2.3-liter EcoBoost engines, incorporating high-quality forged pistons, rings, and precision components to enhance performance in engine rebuilds across various automotive applications.
In January 2023, Koncentra Verkstads AB, a Sweden-based investment company, acquired the large-bore piston production division from Rheinmetall AG for an undisclosed sum. This strategic acquisition aims to strengthen Koncentra's capabilities in large-bore piston manufacturing, potentially enhancing its market position and operational capacity within the automotive sector. Rheinmetall AG, based in Germany, is known for manufacturing steel pistons and cylinder liners for automobiles and firearms.
Major companies operating in the steel piston market are Hitachi Automotive Systems Ltd., Aisin Seiki Co. Ltd., Tenneco Inc., Rheinmetall Automotive AG, Mahle GmbH, Riken Corporation, Nippon Piston Ring Co. Ltd., Shriram Pistons & Rings Ltd., Burgess-Norton Manufacturing Co. Inc., Cheng Shing Piston Co. Ltd., NPR of America Inc., Elgin Industries, Federal-Mogul Corporation, Honda Foundry Co. Ltd., India Pistons Limited, Ross Racing Pistons, Diamond Pistons, Arias Pistons Ltd., Hirschvogel Umformtechnik GmbH, QuFu JinHuang Piston Co. Ltd., SAMKRG Pistons & Rings Limited, Art Metal Mfg Co. Ltd., Paramount Pistons, Izumi Piston Co. Ltd.
Asia-Pacific was the largest region in the steel piston market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the steel piston market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the steel piston market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The steel piston market consists of sales of automotive steel pistons, marine engine steel pistons, industrial machinery steel pistons, motorcycle steel pistons, and steel pistons for power generation equipment. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Steel Piston Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on steel piston market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for steel piston ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The steel piston market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.