Asia-Pacific Automotive Piston Market

Market Introduction

APAC comprises economies such as China, India, South Korea, Japan, and Thailand. The economy of the region is gaining traction owing to the numerous technological and infrastructural developments. APAC has a robust automotive sector owing to the growing automotive manufacturing industries in countries such as China, India, and South Korea. India, China, South Korea, and Japan are among the leading vehicle manufacturing countries worldwide. For instance, according to OICA India produced 3,394,446 vehicles in 2020, of which 2,938,653 were sold in 2020. Also. China was the largest vehicle-producing country across the world; it produced 25,225,242 vehicles in 2020, of which 25,311,069 were sold. Factors such as the presence of a strong automotive sector and the increasing number of car manufacturers drive the growth of the automotive piston market in the region. Continuous technological advancements is the major factor driving the growth of the APAC automotive piston market.

The COVID-19 pandemic has not only disrupted the APAC’s economy and the region’s automobile market but has also changed the buyer attitude towards the sector. The region has witnessed a rise in demand for costly and safety features from customers which is making manufacturers invest in high end technological solutions and services. The car industry was the first economic victim of COVID-19 in China with the shutdown of major automotive production sites and manufacturing plants of companies such as GM, Honda, Nissan, and Renault in the Hubei Province. Other nations recorded some of the most dramatic double digit drops in vehicle sales due to their dependency on the China as well as interruptions caused by the pandemic. Difficulties in receiving appropriate amount of funding is anticipated to impact the market sales. As a result, OEMs will start discounting products which hinder profitability. Key players in the regional automotive piston market are turning towards innovations as a measure to deal with the financial crisis. China’s transformation from a low-tech to a high-tech global market, flexibility in the Japanese manufacturing industry, and adequate government support and business strategies in the Indian market will help the region to recover at a rapid pace. As nations start to witness a declining number of COVID-19 patients, many manufacturing plants and facilities are starting to open up in various regions of the continent and employees returning to work. Ease of lockdown measures, increasing demand trends of smaller-sized vehicles to avoid crowds, and reduction in tax rates are some of the key factors estimated to stimulate demand recovery in countries such as India, Japan, South Korea, and the Philippines.

Market Overview and Dynamics

The automotive piston market in APAC is expected to grow from US$ 2021.05 million in 2021 to US$ 3253.34 million by 2028; it is estimated to grow at a CAGR of 7.0% from 2021 to 2028. Internal combustion engine (ICE) vehicles such as passenger cars, light commercial vehicles (LCVs) account for a major share of the total vehicles usage in developing countries such as China, India, South Korea, which has led to increase in the manufacturing of various models of these vehicles. This has, subsequently, augmented the demand for small-bore pistons, large-bore pistons, bearings, and castings that contribute to weight reduction, emission reduction, and improved performance, among other advantages. Demand for advanced and high-tech features, and technological innovations as well as concerns regarding environmental safety are compelling OEMs to focus on the production and adoption of highly accurate and high-performance piston designs, thereby promoting the development of long-lasting pistons that can withstand stress, and wear and tear caused by engine operations. Mechanical simplicity, flexibility and reliability, and multi-fuel capabilities are among the other features driving the adoption of automotive pistons. Further, the rising demand for gasoline-powered vehicles is contributing to the automotive piston market growth. Thus, the massive production volume of ICE vehicles is a major factor driving the automotive piston market growth.

Key Market Segments

The APAC 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.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the automotive market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ART METAL MFG., LTD.; 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. are among others.

Reasons to buy report

• To understand the APAC automotive piston market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC automotive piston market
• Efficiently plan M&A and partnership deals in APAC automotive piston market by identifying market segments with the most promising probable sales  
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC automotive piston market
• Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.

APAC Automotive Piston Market Segmentation

APAC Automotive Piston Market -By Material Type

• Steel
• Aluminium

APAC Automotive Piston Market -By Coating type

• Thermal Barrier Piston Coating
• Dry Film Piston Coating
• Oil Shedding Piston Coating

APAC Automotive Piston Market -By Vehicle Type

• Two Wheeler
• Passenger Vehicle
• Commercial Vehicle

APAC Automotive Piston Market -By Piston Type

• Flat-top Piston
• Dish Piston
• Dome Piston

APAC Automotive Piston Market -By Country

• China
• India
• Japan
• South Korea
• Thailand
• Rest of APAC

APAC Automotive Piston Market -Company Profiles

• ART METAL MFG., LTD.
• Hitachi Astemo Americas, Inc.
• MAHLE GmbH
• QUFU JINHUANG PISTON CO., LTD
• Rheinmetall Automotive AG
• RIKEN CORPORATION
• Shandong Binzhou Bohai Piston Co., Ltd
• Tenneco Inc.

Asia-Pacific Automotive Piston Market Strategic Insights

Asia-Pacific Automotive PistonMarket Report Highlights

Asia-Pacific Automotive Piston Market Country and Regional Insights