LONDON–(BUSINESS WIRE)–#automotiveindustry–The global automotive piston market is expected to post a CAGR of almost 2% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Forged pistons are preferred over cast pistons due to their low silicon content. They can be easily customized and are durable, which is crucial in engine tuning. Forged pistons also exhibit high strength, and are less brittle. With many such advantages, they are widely used in high-performance applications such as motorsports. The growing demand for forged pistons is encouraging several vendors to develop new products with tight clearances and longer skirt life. As a result of these factors, the growth of the global automotive piston market is expected to accelerate during the forecast period.
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As per Technavio, the development of autonomous vehicles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Automotive Piston Market: Development of Autonomous Vehicles
Many automobile OEMs are entering into strategic alliances with technology providers to integrate AI in their vehicles and strengthen their position in the global autonomous vehicle market. This is leading to the development of self-driving technologies such as driver-assistance systems that enable automated driving even on highways. These vehicles run on diesel or gasoline engines that require automotive pistons for efficient functioning. The increase in the development of autonomous cars will have a positive impact on the growth of the global automotive piston market.
“The emergence of cylinder deactivation/variable displacement engines will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Automotive Piston Market: Segmentation Analysis
This market report segments the global automotive piston market by geography (APAC, Europe, MEA, North America, and South America) and application (passenger vehicles and commercial vehicles).
The APAC region led the market in 2019, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to factors such as rapid economic growth and rising per capita income which have increased the sales of automobiles in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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