Aluminum Piston Market: Introduction
An aluminum piston
is an essential part of all reciprocating pumps, pneumatic cylinders,
reciprocating engines, and gas compressors. An aluminum piston is the
heart of the vehicle or equipment and works as long as the vehicle runs.
An aluminum piston is used in vehicles such as passenger cars, light
commercial vehicles (LCVs), heavy commercial vehicles (HCVs),
two-wheelers, and industrial equipment such as compressors, pumps, etc.
Thus, growing automotive production is one of the key factors expected
to drive the global aluminum piston market over the forecast period.
On
the flip side, the increasing number of emission-less vehicles such as
electric vehicles or solar-powered vehicles is projected to hinder the
growth of the global aluminum piston market in the coming years.
Currently, electric vehicles are in an introductory phase. However,
after ten to fifteen years, these electric vehicles may hamper the
aluminum piston market at a global level. However, the growth of
industrial equipment in the global market is projected to create
lucrative growth opportunities for the aluminum piston market.
Aluminum Piston Market: Dynamics
The
increasing vehicle production is directly proportional to the
increasing demand for auto-components such as aluminum piston, in the
global market. Increasing vehicle production is estimated to propel the
demand for aluminum piston as they have become a standard in all vehicle
types in the global market. Additionally, the vehicle PARC or fleet
i.e. (total number of vehicles in use) has been having a snowballing
effect in the market, which is expected to witness steady growth in the
future as well. This cumulative growth in the fleet is projected to
provide a good impetus in demand for aluminum piston in the global
market. Moreover, the research & development for more advanced &
effective aluminum pistons, especially in heavy-duty equipment and
vehicles, is estimated to act as a prominent source of revenue
generation for all the key market participants across the market value
chain in the global aluminum piston market. Furthermore, ideal
characteristics such as lightweight, compactness, and durability of
aluminum pistons make them extremely easy to install at both, the
aftermarket and the original equipment manufacturer (OEM) stages. The
increasing production and attractiveness of industrial equipment such as
pump and compressors in the latter half of the forecast period are
estimated to be one of the foremost drivers for aluminum piston in the
global market. The global market for aluminum piston is projected to
grow with a prominent CAGR over the forecast period.
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An
aluminum piston forms an integral part of the engine assembly of all
reciprocating industrial machines in the global market. The increasing
vehicle production in key regions such as the Asia Pacific, Latin
America, and Africa is anticipated to boost the sales of aluminum piston
in the OEM segment. The increasing services and replacement of the
engine components in the aftermarket are projected to fuel the demand
for aluminum piston in the global market. It is estimated that the
vehicle PARC i.e. vehicles in use, are increasing at a very healthy
growth rate in the global automotive market, which, in turn, will also
support the growth of the aluminum piston market. Additionally, the
growth of two-wheelers in some of the prominent countries such as India,
China, Brazil, Mexico, Turkey, and ASEAN Countries amongst others is
estimated to act as a catalyst for the growth of the global aluminum
piston market over the forecast period.
The
adoption of advanced technology is leading to consumer inclination
towards automation and is estimated to be one of the prominent drivers
of the aluminum piston market across the globe. The smart and efficient
engine systems installed use sensors to automatically adjust as per the
climate and the surroundings. Due to the introduction of advanced
material technology, many materials such as super alloys and lightweight
aluminum are being used for the manufacturing of aluminum piston due to
their high strength & load capacity. This is the key factor which
is estimated to drive the growth of the aluminum piston market. These
materials used for manufacturing aluminum pistons have high corrosion
resistance and ensure durability and longevity of aluminum piston in the
global market. Moreover, owing to the lightweight, these help the
automobiles to accelerate with less energy and create favorable demand
prospects for aluminum pistons in the global market. These factors are
expected to fuel the aluminum piston market globally.
As
the life of industrial engines is increasing day-by-day, consumers are
becoming aware of efficient machine use. The used automobile sales are
estimated to grow with an incremental CAGR during 2019-2027. This is
expected owing to the decrease in the prices of used vehicles and the
increasing disposable income of the middle-class population. The
advancements in new technology, various inventions, plus the strong
materials used for manufacturing engine components such as aluminum
pistons, have increased automobile life considerably.
The
consumers who are purchasing high-end cars are investing a huge amount
in the servicing and maintenance of these vehicles. Thus, automatically,
the demand for the aftermarket parts such as aluminum pistons, etc. is
growing at a very healthy speed. These cumulative activities in the OEM
and aftermarket are estimated to propel the demand for aluminum piston
over the forthcoming years in the global market.
Aluminum Piston Market: Segmentation
The aluminum piston market can be segmented on the basis of application and sales channel.
By application, the aluminum piston market can be segmented into:
- Automotive
- Passenger Cars
- LCVs
- HCVs
- Industrial
- Pumps
- Compressors
- Cylinders
By sales channel, the aluminum piston market can be segmented into:
- OEM (Original Equipment Manufacturer)
- Aftermarket
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Aluminum Piston Market: Regional Outlook
The
China and South East Asia aluminum piston market is expected to grow
with a good growth rate owing to the increasing production of industrial
machines and vehicles, especially in India & ASEAN countries. The
increasing acceptance of pneumatic, hydraulic, and electric industrial
machines and cylinders in the U.S. and EU-5 countries has grown
significantly over the past few years. This is estimated to remain the
same over the coming years and thus, fuel the demand for aluminum piston
in the global market. Hence, North America and Europe possess an
immense opportunity for the aluminum piston market over the forthcoming
years. The Asia Pacific is expected to be a prominent market for
aluminum piston over the forecast period as the fleet and the production
of conventional gasoline-powered vehicles is growing at a very healthy
rate. In the Asia-Pacific region, the aluminum piston market is expected
to be driven owing to the increasing popularity and investments in
renewable energy resources as well as the increasing population of this
region.
Aluminum Piston Market: Participants
Some of the market participants in the aluminum piston market are:
Some of the market participants in the aluminum piston market are:
- Federal Morgul
- Mahle GmbH
- Shriram Pistons & Rings Ltd.
- Aisin Seiki Co. Ltd
- Rheinmetall Automotive AG
- Ming Shun Industrial Co., Ltd
- Elgin Industries
- SAMKRG
- KSPG
- Abilities India Pistons & Rings
- Paramount Pistons
- Arias Pistons
- Burgess-Norton
- Ross Racing Pistons
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