OREGAON, PORTLAND, UNITED STATES, March 3, 2023 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled,” Automotive Piston Market by Material Type, Piston Coating Type, Vehicle Type, and Piston Type: Global Opportunity Analysis and Industry Forecast, 2018 – 2025,”The global automotive piston market size was valued at $8,685.0 million in 2017, and is projected to reach $13,386.1 million by 2025, registering a CAGR of 5.4% from 2018 to 2025.
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The factors that drive the global automotive piston market include increase in sales & production of vehicles, requirement of lightweight piston to improve performance, and inclination toward double cylinder engine for premium segment bike. However, technical advancements to downsize automotive engines and increase in penetration of electric vehicle hinder the growth of the market.
Irrespective of these challenges, expansion in untapped market of developing regions such as Asia-Pacific, Latin America, and Africa is expected to provide lucrative opportunities for the market growth. In addition, rise in demand for lightweight piston developed from composites of carbon, silicon, and magnesium is expected to unfold various opportunities for new products in the market, thereby boosting the market growth.
In 2017, based on material type, the aluminum segment dominated the automotive piston market in terms of revenue. However, the steel segment is expected to grow at the highest CAGR during the forecast period (2018 – 2025). The automotive piston market exhibits promising growth opportunities for the automotive industry due to rise in sales of automotive vehicles and rising requirement of lightweight piston to improve performance of the engine.
The current business scenario witnessed an increase in the adoption of this technology, particularly in the developing regions. Therefore, key players adopt new techniques to provide advanced and innovative product offerings to their customers.
Key Findings of the Automotive Piston Market:
• Based on vehicle type, the two wheeler segment dominated the global automotive piston market in 2017.
• Based on material type, the steel segment is anticipated to exhibit the highest CAGR during the forecast period.
• Based on piston type, the deflector piston segment is anticipated to exhibit the highest CAGR during the forecast period.
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About Us :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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