Automotive Piston Pin Market

Automotive Piston Pin Market Outlook 2030 -

Piston is the most vital component in internal combustion engine (ICE) of nay vehicle. Piston system comprises of piston, piston rings, connecting rod, and piston pins. Piston pin is also referred to as gudgeon pin, is used to connect the piston with the connecting rod in the internal combustion engine which serves as pivotal ancillary unit to aid the desired process. Piston pin are made up of steel, titanium, and aluminium since, these metals can withstand all the loading stresses applied as well as wear & tear involved during operations. Aluminium piston system is lightweight compared to steel piston system, but steel piston system can sustain high-stress levels. The wear resistance of piston pin is improved by different coatings, such as oil shedding, thermal coating, powder coating, and others. The rise in automobile production is supposed to have a positive impact on automotive piston pin market.

COVID-19 Impact Analysis:

Due to COVID-19 pandemic the lockdown imposed by the government and business shutdowns are expected to have a severe impact on the automotive piston pin market. The production and sales of new vehicles have come to a halt across the globe since, the pandemic has disrupted the whole automotive ecosystem. Moreover, OEMs had to wait until lockdowns were lifted to resume production but still due to social distancing norms there was unavailability of labour which affected their business. In addition, component manufacturing was also suspended which affected small Tier II and Tier III manufacturers with liquidity issues. Thus, the production suspension due the outbreak and lower demand of ICE automobile post the pandemic will have an unprecedented impact on automotive piston pin market.

Top Impacting Factors

• Rise in production & sales of ICE vehicles, rise in demand for high performance & premium vehicles, and advancement in technology regarding cooling efficiency of piston is expected to drive growth of the market.
• However, rise in demand of electric vehicles and complex lubrication & maintenance can hamper growth of the market.  
• Moreover, rise of demand in CNG, LPG, and plug-in-hybrid vehicles, rise in usage of composites to reduce weigh of piston pins, and high wear & tear in piston component can act as an opportunity for growth of the market.

Market Trends

Rise in production & sales of ICE vehicles

Piston pins are an integral part of ICE vehicles. Thus, the increasing production of ICE vehicles across the world is the major driver for piston pin market. Although, most of the countries are concerned about emission caused by ICR vehicles but the market is still dominated by ICE vehicles. Moreover, the lack of proper infrastructure and shortcomings of electric vehicles such as short-range, lack of charging station, and high cost makes ICE vehicles the first choice of consumer in major countries across the world. Since, 100% adoption of electric vehicle will take time, demand for ICE vehicles is expected to drive growth of automotive piston pin market.

Rise in demand of electric vehicles

Government in various countries have made strict regulations regarding vehicle emission thus, promoting the adoption of electric vehicle. The adoption of electric vehicle will affect the sale of ICE vehicles. According, to US Environmental Protection Agency 26% of the total greenhouse gas emission are from automotive & transportation sector. For instance, government major countries such as India, United States, China, and others are giving tax subsidies to promote electric vehicles. All these factors for growth of electric vehicle will hamper growth of automotive piston pin market.

Key Benefits of the Report:

• This study presents the analytical depiction of the automotive piston pin market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with challenges of the automotive piston pin market.
• The current market is quantitatively analyzed to highlight the automotive piston pin market growth scenario.
• The report provides detailed automotive piston pin market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the automotive piston pin market research report:

• Which are the leading market players active in the automotive piston pin market?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the automotive piston pin market?
• What are the projections for the future that would help in taking further strategic steps?

 Automotive Piston Pin Market Report Highlights