By the conclusion of the forecast period, the worldwide automotive wheel market is expected to have generated additional revenue worth approximately US$ 23,127.0 Mn while growing at a CAGR of 4.0% from 2018 to 2026.
This report provides in depth study of “Automotive Piston Ring Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Automotive Piston Ring Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.
The demand for piston ring is driven by the basic need for engine emission control. As such, piston rings do maintain gas in tank, which helps in prevention from evaporation in the form of gasoline. Advancements are observed on both the fronts – material as well as technology, which is giving the end-users a better scope to choose. Also, extensive research is being carried out regarding development of lightweight products to control emission. Persistence Market Research has mentioned about these facts along with figures through its report entitled “Automotive Piston Ring Market”.
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Dispersion of Automotive Piston Ring Market
Persistence Market Research has dispersed the Automotive Piston ring market by product as ductile iron, gray cast iron, and SAE9254 steel. Application-wise, it’s HCV, LCV, sports cars, motorcycles, scooters, luxury cars, mid-size cars, compact cars, and SUVs. By type of engine, it’s diesel engine and gasoline engine.
Sales channel-wise, it’s aftermarket and OEMs. The products where piston rings are used comprise cinderblocks, disc brake rotors, manhole covers, pump hostings, hydraulic components, linkages, automotive suspension components, stove parts, steering knuckles, and so on.
Gray cast iron is usually preferred, as it is capable of dampening vibrations, thereby rendering itself ideal for housing applications and machinery bases. Thermal cycling is also handled very well by gray cast iron.
Out of these, LCVs hold the largest market share and are expected to continue with the winning streak even in the years to come due to the convenience factor involved therein. Also, gasoline engine is preferred to diesel engine taking the environment-friendliness into consideration. Persistence Market Research has put forth these facts and also the insights pertaining to the same.
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Region-wise Analysis
The Asia-Pacific accounts for more than 55% of the market share due to tremendous penetration on the part of automobiles herein. Plus, activities pertaining to construction and industrialization are witnessing an upswing. EU’s automotive sector is also crucial for prosperity of the Europe. Close to 14 Mn people from the EU have their engagement in the automotive sector.
North America is steady over here and the status quo is expected to stay unchanged even going forward. Persistence market Research, through its report entitled “Automotive Piston Ring Market”, has given a detailed analysis geography-wise.
How about staying Competitive?
Persistence Market Research has profiled the key players in Automotive piston ring market as follows:
- ASIMCO
- Federal-Mogul LLC
- MAHLE GmbH
- NIPPON PISTON RING Co., Ltd.
- Riken Corporation
- IP Rings
- Shriram Pistons & Rings Ltd.
- TPR Co., Ltd.
- Hunan ZhengYuanDongli Parts Co., Ltd.
- SamKrg
- Anhui Ring New Group Co., Ltd. (ARN)
- Grover Corporation
- Abilities India Piston & Rings Ltd.
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