Market Leaders - Automotive Piston Market
The global automotive piston market size is projected to grow to USD 2.2 billion by 2025 from USD 1.9 billion in 2020, at a CAGR of 3.5%. The passenger car and light commercial vehicle, have experienced growth, which is expected to drive the demand for automotive pistons.
Supply contracts/orders and acquisitions/mergers/joint ventures have been the key strategies adopted by major players in the automotive piston market from 2018 to 2020. In November 2019, Rheinmetall Automotive AG received an order from one of the worlds biggest car producers. The order is for modern lightweight pistons for gasoline engines with the ring carrier and coolant gallery technology. In October 2018, Tenneco Inc. completed the acquisition of Federal-Mogul LLC, a global supplier of technology and innovation in vehicles and industrial products for fuel economy, emissions reduction, and safety systems.
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Global and regional players dominate the automotive piston market. MAHLE Gmbh is expected to be a leading player in the automotive piston industry. The company is a globally renowned supplier of automotive pistons. The company follows strategies of new product developments and partnerships to gain a competitive edge in the automotive piston market. In September 2018, Mahle launched a new generating of piston coatings. These coatings are intended to guide and reduce the heat entering the piston, which will help to decrease the NOx emissions, thus, complying with current and future emission norms. In March 2017, Riken Corporation (Riken) announced that it would dissolve Allied Ring Corporation, its piston ring joint venture in the US with Germany-based MAHLE Group, at the end of 2018. Rikens subsidiary, Riken of America Inc., and MAHLES US subsidiary have reached an agreement. Riken and MAHLE will independently promote their business in the future.
Tenneco Inc. is another leading player in the automotive piston market. The company focuses on development strategies toward acquisition/mergers/joint venture. In January 2019, the Tenneco Inc. acquired Öhlins Racing A.B., a Sweden-based company that offers suspension systems and components to the automotive and motorsport industries. In October 2018,
In June 2019, Aisin Seiki Co. Ltd. entered into a joint venture with Leon Import, S.A. (Leon) to expand its operation in Central and South American and Caribbean markets. In March 2019, Aisin Asia (Singapore), a 100% subsidiary of Aisin Seiki, concluded a capital and business tie-up agreement between its subsidiary, Aisin Asia (Thailand) Co., Ltd. (AA-T) and Manoyontchai Co., Ltd. (Manoyont), a Manoyont Group company engaged in the sales of aftermarket parts, to enhance the aftermarket business in Thailand and its neighboring countries.
Related Reports:
Automotive Piston Market by Component (Piston, Piston Ring, Piston Pin), Material (Steel, Aluminum), Coating Type (Dry Film Lubricants, Thermal Barriers, Oil Shedding), Piston Shape, Vehicle & Fuel Type, Aftermarket and Region - Global Forecast to 2025
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