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.
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:
By sales channel, the aluminum piston market can be segmented into:
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:
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaustive analysis on:
Regional analysis includes:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.