• 出版社/出版日：Mordor Intelligence / 2022年1月
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・競争状況（Aisin Seiki、Art Metal Mfg Co. Ltd、Federal Mogul Holding LLC、...）
The automotive piston engine system market was valued at USD 30 billion in 2020, and it is expected to reach USD 43 billion by 2026, registering a CAGR of over 6% during the forecast period, 2021-2026.
The COVID-19 pandemic had a negative impact on the market, owing to the decreased sales registered by the automotive industry worldwide. With stringent lockdowns, the production plants for different OEMs were shut down, and the vehicle dealers did not register enough sales in 2020. Also, with no travel activity and reduced vehicle repair activity, the need for aftermarket piston systems was also reduced, forcing the piston engine system market’s economy to run low.
Innovations and prototypes of engines from major automakers and OEMs, coupled with consumer preferences for high-performance and fuel-efficient automobiles, are some of the major factors propelling the market growth.
Engine downsizing trends are on the rise, with automakers developing smaller engines with better fuel injection systems. L4 and V6 engines dominated the vehicle category, thereby creating a demand for more than four pistons in the engine, by placement type, in 2019. Passenger cars have continued their dominance as the major vehicle type in the market.
Over the past five years, the sales trends of gasoline and diesel engine have been experiencing significant growth and decline, respectively. The production of piston systems has been gaining traction from both the engine types and aftermarket channels. For instance, companies like Shriram Pistons and Rings, Bosch, Mahle, etc., have stated that more than 22% of their revenues is generated from aftermarket channels that strengthen their brand recognition.
With China, India, and Japan growing as global automotive manufacturer hubs, the Asia-Pacific region is expected to continue as a major market for automotive piston systems due to the increase in manufacturing.
Key Market Trends
Rising Sales of Electric Vehicle are Hindering the Market Growth
The rise in sales of electric vehicles is hindering the growth of the automotive piston system market. The spike in sales has been the result of an increase in regulatory norms by various organizations and governments to control emission levels and to propagate zero-emission vehicles.
As a result, automakers have been continually working and focusing on increase their expenditure on the R&D of electric vehicles, which may aid the OEMs to market electric vehicles in the future.
The global electric vehicles (including battery electric vehicles, fuel cell electric vehicles, and plug-in hybrid vehicles) market has observed a tremendous increase in the number of sales registered every year from 2018. This increase was registered in almost all segments of vehicles, which include passenger vehicles and commercial vehicles. For instance-
In 2020, the total passenger electric cars registered were 2.98 million units as compared to 2.12 million units registered in 2019, representing a Y-o-Y growth of 41%.
A total of 83,499 units of electric buses were registered in 2020, as compared to 77,093 units registered in 2019, accounting for a Y-o-Y growth of 8%.
In the vans segment, a total of 95,315 units of electric LCVs were registered in 2020 compared to 70,382 units registered in 2019, registering a Y-o-Y growth of 35%.
With the increased inclination toward electric vehicles, governments of different countries offering subsidies, and the growing need for automation and reduced emissions, the electrification of the automotive industry is a major restraint for the market.
Asia-Pacific and Europe are Projected to Dominate the Market
Europe and Asia are projected to be the leading regions for the automotive piston engine system market during the forecast period. This is mainly due to the heavy reliance on internal combustion engines, especially in commercial vehicles operating in the European region. For instance-
In 2020, diesel dominated the European truck registrations with a huge 96.5% of the market share of new trucks registered, with a mere 1% decrease of market share from 2019, in spite of the huge market growth potential for electric vehicles.
Although the sales figures of commercial trucks powered by internal combustion engines (ICE) saw a dip in 2020, compared to 2019, the market share and preference of ICE over other types of vehicles have been constant and have driven the piston engine system market. For example, the number of ICE trucks registered in Europe stood at 225,854 units in 2020, as compared to 303,393 units in 2019 and yet, occupied a major share of the trucks market.
The passenger cars segment of the European market was still dominated by conventional fuels, with a combined market share of 75.5% in 2020 for petrol and diesel engine vehicles. The total diesel cars registered in 2020 stood at 2,778,817 units as opposed to 4,106,951 units in 2019, with a Y-o-Y decrease of 32.3%, while petrol cars stood at 4,713,778 units in 2020, as compared to 7,514,812 units in 2019, registering a Y-o-Y decrease of 37.3%.
In Asia-Pacific, India and ASEAN countries have dominated the automotive market in terms of vehicle sales based on internal combustion engines. For instance-
In 2020, a total of 2,427,883 units of passenger vehicles were registered in India as compared to 2,936,626 units in 2019, recording a Y-o-Y decline of 17.32%. Of the total vehicles registered in 2020, a mere 1,554 units were electric cars, indicating the huge market for piston engine systems in the country.
Major countries of the ASEAN have reported a total of 2,453,808 units of new vehicles registered in 2020, showing a 29% decline in sales from 3,458,476 units in 2019. The decrease in sales was mostly due to the global coronavirus pandemic, and in spite of the decrease, conventional fuel-based engines occupied the majority of the market share as opposed to electric vehicles.
With the immense market for conventional IC engines in the regions, despite the growing inclination toward electric vehicles, the growth potential for automotive piston engine systems is expected to be high in Europe and Asia-Pacific during the forecast period.
The automobile piston system market is consolidated, with only a few companies dominating the market. Some of the major companies dominating the market are Aisin Seiki, Federal-Mogul Holding LLC, Rheinmetall Automotive AG, Hitachi Automotive Systems, and Mahle GmbH, among others.
Rheinmetall, in February 2021, announced the strategic re-alignment to integrate the small and large bore pistons business into the Rheinmetall group as a whole to achieve better profitability for the company.
In March 2020, Tenneco (Federal-Mogul Holding LLC) announced the supply of complete engine components for the Chevrolet Corvette, which includes pistons, piston rings, bearings, and other engine products.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness – Porter’s Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Raw Material
5.1.1 Cast Iron
5.1.2 Aluminum Alloy
5.1.3 Other Raw Materials
5.2.1 Passenger Cars
5.2.2 Commercial Vehicles
5.3 Fuel Type
5.4 Component Type
5.4.2 Piston Ring
5.4.3 Piston Pin
5.5.1 North America
22.214.171.124 United States
126.96.36.199 Rest of North America
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.5.4 Rest of the World
22.214.171.124 South America
126.96.36.199 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 Aisin Seiki
6.2.2 Art Metal Mfg Co. Ltd
6.2.3 Federal Mogul Holding LLC
6.2.4 Mahle GmbH
6.2.5 Rheinmetall Automotive AG
6.2.6 Hitachi Automotive Systems Ltd
6.2.7 Shriram Pistons & Rings Ltd
6.2.8 Magna International Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 ASSESSMENT OF THE COVID-19 IMPACT ON THE MARKET