Global Automotive Piston Engine System Market 2023-2030

Global Automotive Piston Engine System Market 2023-2030

Global Automotive Piston Engine System Market Size, Share & Trends Analysis Report by Raw Material Type (Cast Iron, Aluminum Alloy, and Others), by Vehicle Type (Passenger Cars, and Commercial Vehicles), by Fuel Type (Gasoline/Petrol Engines, Diesel Engines, and Others) and by Component Type (Piston, Piston Ring, Piston Pin, and Others), Research and Academic Institutions, Others), Forecast Period (2023-2030)

The global automotive piston engine system market is anticipated to grow at a CAGR of 5.4 % during the forecast period (2023-2030). The market’s growth is attributed to increasing demand for fuel flexibility. The industry's push toward fuel-agnostic solutions is in response to the changing demand for engines that can run on a variety of fuels, including standard fuels, hybrids, and alternative energy sources. For instance, in February 2023, Cummins Inc. launched the next engine in the fuel-agnostic series, the X10. This engine, that is part of the X engine family, is advantageously positioned to replace both the L9 and the X12 while additionally supporting medium and heavy-duty applications.

Segmental Outlook

The global automotive piston engine system market is segmented on the raw material type, vehicle type, fuel type and component type. Based on the raw material type, the market is sub-segmented into cast iron, aluminum alloy, and others. Based on the vehicle type, the market is sub-segmented into gasoline/petrol engines, diesel engines, and others. Further, on the basis of component type, the market is sub-segmented into piston, piston ring, piston pin, and others. The commercial vehicles subcategory is expected to capture a significant portion of the market share within the product segment. The industry is predicted to increase significantly owing to the use of commercial vehicles in mining, construction, logistics, and transportation.

The Piston Ring Sub-Segment is Anticipated to Hold a Considerable Share of the global Automotive Piston Engine System Market

Among the component type, the piston ring sub-segment is expected to hold a considerable share of the global automotive piston engine system market. The segmental growth is attributed to the consumer preferences across the globe. Consumers, including commercial vehicle fleet operators, expect efficient and sustainable engines. Advancements such as the eLineTM rings cater to these expectations, potentially affecting consumer choices. For instance, in May 2018, Federal-Mogul Powertrain launched new piston ring for use in commercial vehicle diesel engines that enhances gas sealing capability by stabilizing ring dynamic motion and homogenizing oil film. The new eLineTM rings for the 2nd groove have been designed with a running surface shape that distributes oil more uniformly along the cylinder bores and modifies the running face area for lower gas pressure force. As a result, engine efficiency, ruggedness, and emissions are improved.

Regional Outlook

The global automotive piston engine system market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to the individual's disposable income is increasing, and consumers as well as manufacturers have grown conscious of fuel efficiency, that contributes to market expansion in this region.

The North America Region is Expected to Grow at a Significant CAGR in the global Automotive Piston Engine System Market

Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the technological advancement. Environmental concerns and regulatory requirements drive technological developments in the automobile piston engine system market. Innovations have focused on increasing engine efficiency and lowering pollution. According to the MDPI, in August 2022, with 1.2 billion passenger cars and 380 million commercial vehicles, land and marine transport and air transport by jet engines are almost entirely powered by internal combustion (IC) engines. According to the International Energy Agency (IEA), 70% of vehicles will be powered by gasoline engines and 58% of passenger cars will still use IC engines in 2050. This presents a challenge as they produce 25% of power generation and 10% of greenhouse gas (GHG) emissions, leading to an energy crisis and environmental pollution, thus motivating the technological progress of the automobile and engine industry.

Furthermore, light commercial vehicles must reduce their CO2 emissions by 15% by 2025 and by 31% by 2030, while passenger vehicles must reduce their CO2 emissions by 37.5% by 2030.

Market Players Outlook

The major companies serving the automotive piston engine system market include Federal Mogul Holding LLC, Hitachi Automotive Systems Americas, Inc, Magna International Inc., MAHLE GmbH, PT Astra Otoparts Tbk, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in January 2023, Shriram Pistons & Rings (SPRL), confirmed its commitment to the internal- combustion engine (ICE), though it prepares to satisfy the future industry demands for clean mobility technologies. The company offers solutions to alternative fuel systems in ICE, evolving strategies as the transition to zero-tailpipe-emission powertrains continues.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global automotive piston engine system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies. Competitive strategies by identifying ‘who-stands-where’ in the market.