The report “Automotive Piston Pins Market by Vehicle Type (Passenger Car, LCV, HCV, Tractor), by Fuel (Diesel, Gasoline, Alternative), by Coating Types (DLC (Diamond-Like Carbon) Coating, PVD (Physical Vapor Deposition) Coating, Dry Film Lubricants) - Global Forecast to 2027" is projected to grow from USD 259 million in 2020 to USD 316 million by 2027, at a CAGR of 4.5%.
The market for piston pins is mainly driven by the extensive production and sales volumes of ICE vehicles in all segments, including passenger cars, LCVs and HCVs. In developing as well as developed countries, the piston pin market has experienced growth.
Electric cars, according to industry experts, are the future of the automotive industry. Significant production and sales are still the focus of ICE vehicles, especially in developing countries such as India and most Middle East & African countries.
OEMs and Tier I manufacturers have also focused on designing and improving long-lasting piston pins that can handle or withstand all the loading or stresses applied during engine operations and the wear and tear involved. Therefore, the automotive piston pin market could be helped by developments in metallurgy and material science fields.
COVID-19 Impact On Automotive Piston Pin Market:
It is expected that the COVID-19 pandemic will have a significant impact on the demand for automotive piston pins. As the pandemic has disrupted the entire ecosystem, the production and sales of new vehicles have come to a halt across the globe. OEMs had to wait until lockdowns, which affected their market, were lifted to resume production. Hence, the output volume will need to be modified by vehicle manufacturers. Moreover, component production is also suspended and liquidity problems could be faced by small Tier II and Tier III manufacturers.
Automotive piston pins market is expected to see a post-COVID-19 decline due to the effects on vehicle production. A steady post-2020 recovery in vehicle production, however, will help the growth of this sector in the coming years. Piston pin producers have suffered from the outbreak, much like other businesses in the automotive industry.
Browse 53 market data Tables and 35 Figures spread through 175 Pages and in-depth TOC on “Automotive Piston Pins Market by Vehicle Type (Passenger Car, LCV, HCV, Tractor), by Fuel (Diesel, Gasoline, Alternative), by Coating Types (DLC (Diamond-Like Carbon) Coating, PVD (Physical Vapor Deposition) Coating, Dry Film Lubricants) - Global Forecast to 2027"
During the forecast era, Asia Pacific is expected to be the largest and fastest-growing market for automotive piston pins. Some of the main ICE vehicle manufacturers worldwide are China, Japan, South Korea, and India. According to OICA, the production of passenger cars in the Asia-Pacific region accounts for about 54 percent of the global production of passenger cars. Hence, Asia Pacific, led by Europe and North America, is the largest market for automotive piston pins.
Global Automotive Piston Pin Market: Regional Analysis
The study provides a thorough assessment of the growth and other aspects of the Automotive Piston Pin market in key regions, including the United States, Canada, Germany, France, the United Kingdom, Italy, Russia, China, Japan, South Korea, Taiwan, Mexico, Southeast Asia, and Brazil, etc. North America, Europe, Asia-Pacific, and Latin America are the main regions discussed in the study.
The study was drawn up after observing and analyzing various factors that determine regional development, such as the region's economic, environmental, social, technological and political status. Analysts analyzed the sales, manufacturing, and manufacturing data from each field.
For the projected period of 2021 to 2027, this segment analyzes region-wise revenue and volume. These studies can enable the reader to understand the potential value of investment in a specific area.
Market Driver: Substantial production and sales volumes of ICE vehicles
The largest driver for the global piston pin market is the continuously growing production of ICE vehicles worldwide, as piston pins are needed in any type of ICE vehicle. While most countries are worried about the pollution generated by ICE vehicles, ICE vehicles still dominate most of the automotive market. Lack of electric vehicle infrastructure and deficiencies such as short-range and high initial costs are the reasons why ICE vehicles are often the first option in most cities around the world, especially in developing countries such as India and the Middle East.
Restraint: Much anticipated growth of electric vehicles
The growth of the automotive piston pin market may be hindered by the growing demand for battery-operated vehicles to curb pollution. Mandatory emission standards to restrict NOx and CO2 emissions have been set up by the governments of many countries. In addition, demand for battery-operated vehicles has increased due to the increasing stringency of emission standards. Conventional engine components, such as pistons, piston rings, and piston pins, are affected by the rise in demand for electric vehicles. These vehicles run on batteries and different control units that not only increase performance, but also reduce emissions.
Approximately 26 percent of the overall greenhouse gas emissions are from the automobile and transportation industry, according to the US Environmental Protection Agency (US EPA). The growing emphasis on reducing vehicle emissions and increasing demand for fuel-efficient vehicles are compelling the creation of energy-efficient solutions by automotive OEMs.
Opportunity: Pistons pins will be required in CNG, LPG, hybrid, and plug-in hybrid vehicles
The need for alternative fuel technologies to minimize pollution from traditional ICE vehicles has been motivated by the growing prevalence of localized air quality regulations. Increasing demand for emission-free and energy-efficient cars, government legislation, oil price volatility, and vehicle conversions have forced automotive OEMs to develop alternative fuel consumption technologies. In this search, automotive OEMs and component manufacturers are finding ways to develop engines for improved fuel efficiency using renewable oil and gas resources Even, because of the lack of supporting infrastructure, most countries are not yet equipped for fully electric vehicles. Hybrid and plug-in hybrid cars will also experience development in the future. There is an ICE with the normal piston-cylinder assembly for all these types of cars, including CNG, LPG, ethanol, hybrid, and plug-in hybrid vehicles. Thus, during the forecast era, the growing trend of these vehicles will support the piston pin market. such as CNG, LPG, and ethanol.
Challenge: Designing long-lasting & lightweight piston pins and dealing with complex lubrication & maintenance
The primary concern in the design and manufacture of piston pins is the choice of material and size of the pin. Due to their respective mechanical and chemical properties, the metals that are commonly used to manufacture piston pins are steel alloys. Such attributes include thermal expansion, wear-and-tear resistance, strength, and density, among others. The piston pin should also be light in weight, so that the engine weight remains optimal. Thus, designing piston pins for customized specifications in lightweight and high-performance racing engines is a challenge for manufacturers.
In addition to designing pins, maintenance and lubrication often play a crucial role in the life of the piston pin. Piston slap is a condition that happens in the pin where the piston may become slightly loose and increase the engine's overall vibration when there is any adhesive wear. Also, manufacturers must use coatings for these pins to achieve the desired or necessary lubricity. Diamond Like Coating (DLC), for example, enhances the overall lubricity of piston pins, leading to better engine performance. With the aid of oil flying through the spinning crankshaft, the piston pins and cylinder walls are lubricated.
Market Key Players
Global Automotive Piston Pins Market Coverage
Vehicle Type Insight and Forecast 2015-2027
Fuel Insight and Forecast 2015-2027
Coating Types Insight and Forecast 2015-2027
Car Towing Service Market by Region
Rest of the World (RoW)