Report : North America Automotive Piston Market Forecast to 2028 - COVID-19 Impact and Regional 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)
Aluminum Segment to Dominate North America Automotive Piston Market during 2021–2028
According to a new market research study on “North America Automotive Piston Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Material Type, Coating Type, Vehicle Type, and Piston Type” is expected to reach US$ 854.50 million by 2028 from US$ 637.38 million in 2021. The market is estimated to grow at a CAGR of 4.3% from 2021 to 2028. The report provides trends prevailing in the North America automotive piston market along with the drivers and restraints pertaining to the market growth. Immense ICE vehicle production is the major factor driving the growth of the North America automotive piston market. However, issues associated with the accentuation in EV manufacturing hinder the growth of North America automotive piston market.
The North America automotive piston market is segmented on the bases of material type, coating type, vehicle type, and piston type, and country. Based on material type, the market is segmented into steel and aluminum. The aluminum segment dominated the market in 2020 and steel segment is expected to be the fastest growing during the forecast period. On the basis of coating type, the automotive piston market is segmented into thermal barrier piston coating, dry film lubricant piston coating, and oil shedding piston coating. The thermal barrier piston coating segment dominated the market in 2020 and dry film piston coating segment is expected to be the fastest growing during the forecast period. On the basis of vehicle type, the automotive piston market, by vehicle type, is segmented into two wheelers, passenger vehicles, and commercial vehicles. The commercial vehicles segment dominated the market in is expected to be the fastest growing during the forecast period. On the basis of piston type, the automotive piston market is segmented into flat-top piston, dome piston, and dish piston. The flat-top piston segment dominated the market in 2020 and dome piston segment is expected to be the fastest growing during the forecast period. In terms of country, the North America automotive piston market is segmented into—US, Canada, and Mexico.
The United States has witnessed the most severe impact of COVID-19 in 2020. The automotive manufacturers as well as automotive component manufacturers in the region are affected due to nationwide lockdowns and travel restrictions, shut down of production facilities, and shortage of employees. The massive outbreak of the virus has created both a health crisis and an economic crisis in the United States. It has led to major disruptions in the automotive industry, impacting everything from supply chain and manufacturing to product sales. The pandemic has directly and indirectly impacted the industry’s short term and long term strategies.The automotive original equipment manufacturers as well as the players within the automotive piston industry are the ones among the hardest hit due to the pandemic. Automakers are rethinking their financial priorities due to the serious economic impact; vehicle production and technological up gradations witnessing a decline and are therefore choosing the divert funds and resources towards other alternatives.The region is expecting market recovery from the economic disruption. Growing consumer demand and government stimulus is anticipated to boost manufacturing and sales.
Arias Pistons; Hitachi Astemo Americas, Inc.; MAHLE GmbH; QUFU JINHUANG PISTON CO., LTD; Rheinmetall Automotive AG; RIKEN CORPORATION; Shandong Binzhou Bohai Piston Co., Ltd; and Tenneco Inc. the leading companies in the North America automotive piston market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, MAHLE GmbH developed aluminum pistons with the co-operation of sports car manufacturer Porsche and mechanical engineering company Trump has 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, including electric drives, by supplying suitable components for drives, thermal management.