Overview and Scope
A tappet is a component in an internal combustion engine that converts the rotational motion of the camshaft into linear motion that pushes against the engine’s valve stems, causing the valves to open. The tappet’s purpose is to close the space between the camshaft and the rocker’s arm, obviating the need for component changes, as it is activated by hydraulic pressure at engine start. It plays an essential role in the smooth and efficient operation of the machine.
Sizing and Forecast
The tappet market size has grown steadily in recent years. It will grow from $9.01 billion in 2023 to $9.45 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to rise of aftermarket sales, internal combustion engine development, automotive industry growth, precision engineering advancements, materials innovation..
The tappet market size is expected to see steady growth in the next few years. It will grow to $11.16 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to rise in demand for performance vehicles, emissions regulations and efficiency, demand for lightweight components, increased engine downsizing, global automotive production growth.. Major trends in the forecast period include innovations in lubrication systems, customization for diverse engine types, adaptation to variable valve timing systems, integration of smart technologies, compact engine designs..
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Segmentation & Regional Insights
The tappet market covered in this report is segmented –
1) By Type: Flat Tappet, Roller Tappet, Hydraulic Tappets
2) By Engine Capacity: Less Than 4 Cylinder Engine, 4-6 Cylinders Engine, More Than 6 Cylinder
3) By Vehicle Type: Heavy Duty Commercial vehicles, Light Duty Commercial Vehicles
4) By Distribution Channel: Original Equipment Manufacturer (OEM), Aftermarket
5) By End-User: Economic Passenger Car, Luxury Passenger Car, Mid-Priced Passenger Car
Asia-Pacific was the largest region in the tappet market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the tappet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing demand for racing cars is expected to propel the growth of the tappet market going forward. Racing cars refer to specially designed and modified vehicles intended for competitive racing in motorsports. In racing cars, tappets are important in optimizing valve timing for maximum power and efficiency, which is crucial for achieving top speeds and responsiveness on the racetrack. For instance, in May 2023, according to the corporate and financial report shared by Ferrari S.p.A., an Italy-based luxury sports car manufacturer, 3,567 Ferrari units were shipped overall in Q1 2023, an increase of 9.7% from Q1 2022. Net revenues were $1.54 billion in Q1 2023, an increase of 20.5% from last year. Furthermore, in January 2023, according to Automobili Lamborghini S.p.A., an Italy-based manufacturing company, they delivered 9,233 cars worldwide in 2022, a 10% increase compared to 2021. Additionally, Lamborghini’s largest market was the United States, where they delivered 2,721 cars, a 10% increase compared to 2021. In Japan, they delivered 546 cars, up 22% over the previous year. Therefore, the increasing demand for racing cars is driving the growth of the tappet market.
Key Industry Players
Major companies operating in the tappet market report are Aisin Seiki Co. Ltd., Eaton Corporation PLC, Schaeffler AG, SKF Group, NSK Ltd., Mahle GmbH, Delphi Technologies, ElringKlinger AG, Federal-Mogul Goetze, Nittan Valve Co. Ltd., Otics Corporation, Elgin Industries, Melling Engine Parts, Wuxi Xizhou Machinery Co. Ltd., Crower Cams & Equipment Company LLC, Sac Engine Components, Rane Engine Valve Ltd., Lunati, Howards Cams, SM Motorenteile GmbH, Johnson Lifters, Kent Cams, Iskenderian Racing Cams, Shri Ram International, RSR Industries
The tappet market report table of contents includes:
1. Executive Summary
2. Tappet Market Characteristics
3. Tappet Market Trends And Strategies
4. Tappet Market – Macro Economic Scenario
5. Global Tappet Market Size and Growth
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32. Global Tappet Market Competitive Benchmarking
33. Global Tappet Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Tappet Market
35. Tappet Market Future Outlook and Potential Analysis
36. Appendix
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