The automotive piston rings are used in engines to sealing the combustion chamber for minimal gas loss to the crankcase. The growing focus on manufacturing of lightweight IC engine. This results in downsizing various IC-engine components such as piston, piston rings, engine cylinder, crank, and crankshaft. Thus, the rising use of steel piston rings and cast aluminum alloy piston to reduce the weight of an ICE assembly. This factor is likely to fuel the demand for the steel piston ring, which anticipating the automotive piston rings market growth.
MARKET SCOPE
The "Global Automotive Piston Rings Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of Automotive Piston Rings market with detailed market segmentation by material, vehicle type, engine type, and geography. The global Automotive Piston Rings market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Automotive Piston Rings market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on material, the market is segmented as steel and cast iron
- On the basis of vehicle type, the market is segmented into diesel and gasoline
- Based on vehicle type, the market is segmented into passenger cars, commercial vehicles, two and three wheeler, and off road-vehicles
MARKET DYNAMICS
Drivers:
- The growing production and sales volumes of vehicles, including passenger cars and commercial vehicles in the emerging nations such as India, China, Brazil, South Korea, and others
- Increasing demand for LPG, CNG, hybrid, and plug-in hybrid vehicles, which required a piston ring
Restraints:
- Increasing demand for electric vehicles
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Automotive Piston Rings market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive Porters five force analysis highlighting factors factors affecting the Automotive Piston Rings market in these regions.
IMPACT OF COVID-19 ON AUTOMOTIVE PISTON RINGS MARKET
The outbreak of the COVID-19 has severely impacted the automotive and transportation, and other related industries. The emergence of COVID-19 virus across the globe which led to lockdown scenarios has led to unprecedented series of border closures across the globe. This disruption in global supply chain is expected to leave an impact on the industry through till mid-2021. Several Automotive Piston Rings manufactures namely: Rheinmetall Automotive AG and Tenneco Inc have declared the pause in the production due to the lowered demand, supply chain bottlenecks, and to protect the safety of their employees in the most affected countries during the COVID-19 pandemic. As a result, the demand for Automotive Piston Rings solutions got declined in 2020 and is the impact of pandemic is expected to continue in the year 2021 too.
MARKET PLAYERS
The report covers key developments in the Automotive Piston Rings market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Automotive Piston Rings market are anticipated to lucrative growth opportunities in the future with the rising demand for Automotive Piston Rings in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Automotive Piston Rings market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
1.Anhui Ring New Group Co., Limited (ARN)
2.ASIMCO
3.Grant Piston Rings
4.MAHLE GmbH
5.NIPPON PISTON RING Co., Ltd.
6.Omega Pistons Ltd
7.Riken Corporation
8.SAMKRG Pistons and Rings Limited
9.Tenneco Inc.
10.TPR Co., Ltd