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 “Piston Ring Market”.
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Dispersion of Piston Ring Market
Persistence Market Research has dispersed the 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 “Piston Ring Market”, has given a detailed analysis geography-wise.
How about staying Competitive?
Persistence Market Research has profiled the key players in 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.
Persistence Market Research has also not missed out on mentioning the latest developments in the piston ring market. For example – it has stated that Federal Mogul, in October 2018, got acquired by the player called Tenneco. Also, there is a new company named “Yizheng NPR ASIMCO Powder Metallurgical Manufacturing Co. Ltd.” out of a joint venture between Nippon and ASIMCO.
Piston ring market is slated to grow by leaps and bounds between 2021 and 2031 – Persistence Market Research
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Want to Know More?
Persistence Market Research, a research and consulting firm, has published a market research report on the motorcycle market that contains global industry analysis of 2016–2020 and opportunity assessment for 2021–2031. The report provides in-depth analysis of the market through different segments, namely, product, technology, and region.
For additional insights on how the motorcycle market will shape up over the next decade, write to media@persistencemarketresearch.com
About Persistence Market Research – Automotive Division
The Automotive and Transportation division of Persistence Market Research provides exclusive coverage and actionable insights about automotive and transportation industry encompassing automotive, aviation, shipping and marine, and railway sector.
Market findings and competition intelligence of OEM, aftermarket, services and technology landscape have helped numerous industry stakeholders’ right from automakers, component manufacturers, channel partners and service providers in taking informed decisions and keeping them up-to-date with market behaviour.
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Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.
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