The automotive piston market has garnered USD 4,199.2 million in revenue in 2023, and it is projected to rise at the rate of 4.8% from 2024 to 2030, to capture USD 5,806.1 million by 2030. The need for automotive pistons is growing because middle-class individuals can now buy cars due to their increasing per-capita income and urbanization in developing nations.
In 2023, commercial vehicles grip a larger market share of 65%, and their income contribution is projected to experience a CAGR of approximately 4.5% during the projection period. The need for commercial vehicles has significantly augmented in the past few years because of the thriving e-commerce activities and fast trade globalization.
Trucks are essential for the fast distribution of supplies, which boots the need for better-quality engines and their every component. For commercial automobiles to run swiftly and be able to manage the challenging long-distance transport works, dependable and tough pistons are vital.
On the basis of shape segment, flat-top variants are projected to experience fast development in the projection period, because of their lesser surface area. This causes reduced carbon accumulation, which keeps the engine clean and avoids knocking.
The component category is led by pistons, as interior combustion engines depend on them to produce power. By altering the high-pressure gases from the burned air–fuel mixtures into a rotating motion, they produce movement in the crankshaft. Both four-stroke and two-stroke engines, which are found in almost all automobiles, rely on them. Increased output, higher revolution limits, and improved temperature management have been achieved by custom pistons for performance and racing engines.
In 2023, the APAC region is dominating the market with a 40% share, and its income contribution is projected to experience a CAGR of approximately 5.5% during the projection period. The automotive piston market in the APAC region is driven by China's wide automotive market. Furthermore, with their increasing vehicle manufacturing and sales, South Korea and India also make key contributions. This is mainly because such reasons propel the need for such vehicle parts among OEMs and aftermarket entities.
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