Market Leader – Automotive Piston Pin Market
The global piston pin market size is projected to reach USD 314 million by 2025, from an estimated USD 259 million in 2020, at a CAGR of 4.0%. The base year for the report is 2019, and the forecast period is from 2020 to 2025. Substantial production and sales volumes of ICE vehicles across the world will boost the demand for piston pin during the forecast period.
According to industry experts, electric vehicles are the future of the automotive industry, ICE vehicles are still in focus with significant production and sales, especially in developing countries such as India and the majority of the Middle East & African countries. Also, OEMs and Tier I suppliers have been focusing on designing and developing long-lasting piston pins that can sustain or withstand all the loading or stresses applied and the wear and tear involved during engine operations. Thus, advancements in metallurgy and material science fields might help the piston pin market.
The piston pin market is dominated by players such as Burgess Norton (US), Tenneco (US), MAHLE (Germany), Art Metal (Japan), and Rheinmetall Corporation (Germany). These companies developed new products, adopted expansion strategies, and undertook collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth piston pin market.
To know about the assumptions considered for the study download the pdf brochure
Burgess Norton is one of the leading players in the piston pin market. It claims to be the largest producer of piston pins in the world. As stated by the company, more than 150 million vehicles are equipped with the company’s piston pins every day. Burgess Norton has a very good geographic presence, as it has a total of five piston pin manufacturing facilities spread in all the major automotive markets across the globe, including China, the US, Italy, and Mexico. The North American manufacturing facility is the largest piston pin manufacturing facility in the world in terms of production volumes. The company is also the largest independent manufacturer of piston pins in Europe and China. Thus, it has a huge customer base that includes majority of the leading automotive OEMs. The company started its new piston pin manufacturing plant in Shanghai, China, in 2018.
Tenneco is one of the leading players in this market. Tenneco offers piston pins under its acquired brand ‘Federal-Mogul’ for a variety of diesel as well as gasoline engines. The company completed the acquisition of Federal-Mogul LLC in October 2018. In January 2019, Tenneco announced the acquisition of Öhlins Racing A.B., a Sweden-based company. Some of the major customers of the company are Nissan, BMW, Ford, Caterpillar, PSA Peugeot Citroen, GM, FAW, Toyota, Jaguar, Land Rover, Napa, FCA, Daimler, BAIC, Saic Motor, Reilly Auto Parts, Advance Auto Parts, John Deere, Volvo, Volkswagen, and Changan.
MAHLE, Art Metal, Rheinmetall, Bohai Automotive Systems, Art Serina, Shriram Pistons, and Ming Shun Industrial are some of the other players in this market. The power cell unit is one of the offerings from MAHLE, consisting of the piston system, along with rings and pins, connecting rod, and cylinder liner. In 2017, Art Metal merged with one of the leading automotive parts and components manufacturer, Aisin Seiki. As part of the merger, the piston business unit of the Aisin Seiki was transferred to Art Metal. With the merger, Art Metal became one of the key players in the global piston pin market, as both the companies have combined their resources to focus on the piston business. In November 2019, Rheinmetall received an order from one of the world's biggest car producers. The order is for modern lightweight pistons for gasoline engines with the ring carrier and coolant gallery technology. The order runs until 2028. Made for a 1.5-liter turbocharged engine, in the future, these pistons will be used in all the customer's new four-cylinder series in China. In September 2017, Bohai Automotive Systems signed an agreement with Volkswagen's company, Scania, to enter the commercial vehicle parts suppliers' network of the Volkswagen Group. The company began to supply its steel pistons and piston pins, which will be used in Scania's new engine. The engine is used in vehicles manufactured by MAN and Scania brands.
Related Reports:
Automotive Piston Pin Market by Vehicle Type (Passenger Car, LCV, HCV, and Agricultural), Fuel (Diesel, Gasoline, and Alternative Fuel), Material (Steel and Aluminum & Titanium), Coating Type, Sales Channel, and Region - Forecast to 2025
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
SEND ME A FREE SAMPLE
