The steel piston market size has grown strongly in recent years. It will grow from $2.18 billion in 2023 to $2.29 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to a rise in automotive production, a rise in environmental regulations, growth in power generation, growing popularity in energy storage solutions, and rising demand for automotive parts.
The steel piston market size is expected to see strong growth in the next few years. It will grow to $2.82 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to increasing demand for lightweight components, rising adoption of electric vehicles, growing focus on engine efficiency, rising investments in automotive innovation, and rising demand in aerospace and defense. Major trends in the forecast period include technological advancement, lightweight materials, adoption of electric vehicles, high-performance engines, and integration with turbocharged engines.
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Scope Of Steel Piston Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Steel Piston Market Overview
Market Drivers –
The increasing automotive industry is expected to propel the growth of the steel piston market going forward. The automotive industry involves the design, development, manufacturing, marketing, and sale of motor vehicles, including cars, trucks, motorcycles, and their components. The automotive industry is rising due to a global trend towards the development of electric vehicles (EVs) and autonomous driving technology, despite current challenges such as supply chain shortages and labor shortages. Steel pistons help increase the automotive industry by enhancing engine efficiency, durability, and performance, thereby meeting the demands for higher fuel economy and lower emissions. For instance, in 2023, according to the International Organization of Automobile Manufacturers (OICA), a France-based automobile manufacturer, the international automobile sector witnessed tremendous expansion in 2022, with total vehicle production hitting 84.83 million units, up significantly from 80.00 million units in 2021. Therefore, the increasing automotive industry is driving the growth of the steel piston market.
Market Trends –
Major companies operating in the steel piston market are focused on developing innovative products, such as heavy-duty steel piston kits, to enhance fuel efficiency and performance. A heavy-duty steel piston kit is a collection of components designed for use in high-performance or industrial engines that require robust and durable pistons. For instance, in January 2022, MAHLE GmbH, a Germany-based manufacturer of automotive parts, launched the Ford EcoBoost 2.3L PowerPak Plus piston kit. The pistons feature a robust design with a 0.235-inch thick top and 0.200-inch second ring lands, compatible with OE 149.3mm connecting rods and 22.5mm wrist pins. It supports a 9.5:1 compression ratio for both 2-liter and 2.3-liter EcoBoost heads, integrating high-quality forged pistons, rings, and precision components ideal for enhancing performance in engine rebuilds across automotive applications.
The steel piston market covered in this report is segmented –
1) By Component: Piston Head, Piston Ring, Piston Pin
2) By Shape: Flat Top Piston, Bowl Piston, Dome Piston
3) By Coating: Dry Film Lubricant, Thermal Barriers, Oil Shedding Coatings
4) By Fuel: Gasoline, Diesel, Alternate Fuel
5) By Vehicle: Passenger Cars, Light Commercial Vehicle (LCV), High Commercial Vehicle (HCV)
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Regional Insights –
Asia-Pacific was the largest region in the steel piston market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the steel piston market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the steel piston market are Hitachi Automotive Systems Ltd., Aisin Seiki Co. Ltd., Tenneco Inc., Rheinmetall Automotive AG, Mahle GmbH, Riken Corporation, Nippon Piston Ring Co. Ltd., Shriram Pistons & Rings Ltd., Burgess-Norton Manufacturing Co. Inc., Cheng Shing Piston Co. Ltd., NPR of America Inc., Elgin Industries, Federal-Mogul Corporation, Honda Foundry Co. Ltd., India Pistons Limited, Ross Racing Pistons, Diamond Pistons, Arias Pistons Ltd., Hirschvogel Umformtechnik GmbH, QuFu JinHuang Piston Co. Ltd., SAMKRG Pistons & Rings Limited, Art Metal Mfg Co. Ltd., Paramount Pistons, Izumi Piston Co. Ltd.
Table of Contents
1. Executive Summary
2. Steel Piston Market Report Structure
3. Steel Piston Market Trends And Strategies
4. Steel Piston Market – Macro Economic Scenario
5. Steel Piston Market Size And Growth
…..
27. Steel Piston Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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