The increasing demand for higher power in vehicles, has continuously led to the development of pistons such as steel piston for vehicles. This is because steel piston plays a vital role in increasing the engine power by growing the piston shape and size. However, stringent emission standards have led to reducing the size of normal engine and expecting higher power in smaller engines. These challenges have led to incorporation of superchargers and turbochargers to the vehicle. Therefore, increasing demand for higher power in vehicles is expected to enhance the market growth.
According to Data Bridge Market Research the Steel Piston accounted for USD 2,173.40 million in 2021, and expected to reach USD 2,997.41 million by 2029. The market is expected to grow with a CAGR of 4.10% in the forecast period of 2022 to 2029.
“Growing use of four-wheel-drive vehicles and all-wheel-drive”
The demand for the automotive components such as steel pistons increases which is highly linked with the growth and expansion of the vehicle manufacturing sector. According to a fact that steel pistons are now a standard component in all types of vehicles which have sold on the worldwide economy. The increasing demand for production of vehicle is therefore expected to also fuel the growth of the steel piston market. Moreover, raw steel materials are used to create steel pistons to assuring its lifespan, sturdiness, and high corrosion resistance. Also, the steel piston is a stronger alternative than others, which helps in the acceleration of vehicles. Therefore, as a result of all these factors, the global demand for steel pistons is expected to increase which is expected to drive the market growth.
What restraints the growth of Steel Piston Market?
“Increasing production of electric vehicles”
The potential of the automobile manufacturers to make electric vehicles is the main hindrance to the growth of the steel piston industry. The manufacturing industry's stakeholders are being introduced new technology for engine downsizing. As a result, reducing the demand for the steel pistons could be a major restring factor for the market's expansion.
Segmentation: Steel Piston Market
The steel piston market is segmented on the basis of component, coating type, vehicle type, fuel type, shape.
- On the basis of component, the steel piston market is segmented into piston head, piston ring, and piston pin.
- Based on coating type, the steel piston market is segmented into dry film lubricant, thermal barriers, and oil shedding coatings.
- On the basis of vehicle type, the steel piston market is segmented into passenger cars, light commercial vehicle (LCV), high commercial vehicle (HCV).
- Based on fuel type, the steel piston market is segmented into gasoline, diesel, alternate fuel.
- Based on shape, the steel piston market is segmented into flat-top piston, bowl piston, dome piston.
Regional Insights: Asia-Pacific is expected to dominate the Steel Piston Market
Asia-Pacific is expected to dominate the market and is expected to grow significantly owing to the increasing per capita income of the people in this region. Furthermore, increasing number of vehicles and high adoption of steel piston from end automobiles are some of the other major factors which will further boost the market growth in this region,
- In addition, the North America region is likely to register highest growth rate during the forecast period of 2022 to 2029 due to increasing disposable income and changing lifestyle of the individuals in this region. Moreover, increasing priorities towards the stronger parts of the vehicle for fuel efficiency is another major factor which will further increase the demand for the steel piston and drive the market growth in this region
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-steel-piston-market
The Prominent Key Players Operating in the Steel Piston Market Include:
- Federal-Morgul Corporation (U.S.)
- Mahle GmbH (Germany)
- Shriram Pistons & Rings Ltd. (India)
- Aisin Corporation (Japan)
- Rheinmetall AG (Germany)
- Ming Shun Industrial Co., Ltd (China)
- Elgin Industries (U.S.)
- SAMKRG (India)
- PIERBURG, S.A. (Germany)
- Abilities India Pistons & Rings Ltd. (India)
- Paramount Pistonts (India)
- Arias Pistons (U.S.)
- Burgess-Norton (U.S.)
- Ross Racing Pistons (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list Steel Piston Market companies contact, https://www.databridgemarketresearch.com/reports/global-steel-piston-market
Research Methodology: Global Steel Piston Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
