The Automotive Tappet Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Automotive Tappet Global Market Report 2024, The automotive tappet market size has grown steadily in recent years. It will grow from $8.55 billion in 2023 to $8.95 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to growing adoption of hydraulic flat tapper camshaft (HFTC), rising demand for flat-tappet, rising hybrid vehicles, rising battery-powered vehicles, and rising demand for automobiles.
The automotive tappet market size is expected to see strong growth in the next few years. It will grow to $10.89 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to increasing sales of passenger vehicles, increasing sales of commercial vehicles, increasing demand for electric vehicles, increasing demand for fuel-efficient vehicles, and growing aftermarket opportunities. Major trends in the forecast period include adoption of variable valve timing (VVT) systems, advancements in lubricant technology, development of cleaner technologies, technological advancements in hydraulic flat tapper camshaft (HFTC), and developing engines.
The increasing sales of passenger vehicles are expected to propel the growth of the automotive tappet market going forward. Passenger vehicles are motor vehicles that include cars, SUVs, minivans, and other similar vehicles primarily used for personal transportation or carrying small groups of people with a capacity of 8 or fewer passengers, excluding the driver. The increasing sales of passenger vehicles are due to improved financing options, urbanization, vehicle technology advancements, and new models with better fuel efficiency and safety features. Automotive tappets improve engine performance and fuel efficiency, leading to a smoother, more powerful driving experience that enhances vehicle appeal, attracting buyers and boosting sales of passenger vehicles. For instance, in April 2024, according to Automotive Statistics, a Canada-based agency, in 2022, there were 26.3 million registered road motor vehicles in Canada, a 0.3% increase from 2021. Therefore, the increasing sales of passenger vehicles drive the automotive tappet market.
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The automotive tappet market covered in this report is segmented –
1) By Product: Flat Tappet, Roller Tappet
2) By Engine Capacity Analysis: <4 Cylinder Engine, 4-6 Cylinder, >6 Cylinder
3) By Material: Steel, Aluminum
4) By Vehicle: Heavy Commercial Vehicle, Light Duty Vehicle
5) By Distribution Channel: Original Equipment Manufacturer, After market
Major companies operating in the automotive tappet market are investing in manufacturing facilities to provide high-quality, precision-engineered tappets that meet stringent performance and durability standards, ensuring optimal engine efficiency and longevity. The new facility would produce products with cutting-edge technology featuring Schaeffler-designed and manufactured tools and equipment. For instance, in February 2024, Schaeffler, a Germany-based company that manufactures automotive tappets, invested $230 million in the new greenfield facility, which will be strategically located in Dover, Ohio. The new facility will create approximately 450 job opportunities by 2032 and will feature state-of-the-art production processes for electric axles for light and medium-duty vehicles. Beyond innovation, sustainability is a core focus, with the facility incorporating eco-friendly practices to align with Schaeffler’s commitment to environmental responsibility and being climate-neutral by 2040.
The automotive tappet market report table of contents includes:
1. Executive Summary
2. Automotive Tappet Market Characteristics
3. Automotive Tappet Market Trends And Strategies
4. Automotive Tappet Market – Macro Economic Scenario
5. Global Automotive Tappet Market Size and Growth
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32. Global Automotive Tappet Market Competitive Benchmarking
33. Global Automotive Tappet Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Tappet Market
35. Automotive Tappet Market Future Outlook and Potential Analysis
36. Appendix
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