Titanium Automotive Gudgeon Pins Pegged to Witness Widespread Adoption in High-Performance Vehicles
The global report covers complete information about the global market value (US$ Mn) projections, volume (‘000 units), market dynamics (driver, restraint, trend & opportunity), competition and latest key development in the global automotive gudgeon pin market for the study period 2019 to 2027.
The global automotive gudgeon pin market is estimated to reach US$ 4,024.3 Mn by the end of the forecast period, registering a CAGR of 5.0% for the period between 2019 and 2027.
Factors Influencing Automotive Gudgeon Pin Market Growth
An automotive gudgeon pin or piston pin is an essential part of piston assembly, which connects the piston and the connecting rod with circlip or any modes of fittings. The piston is the heart of the vehicle and works until the vehicle runs. An automotive gudgeon pin is used in vehicles such as passenger cars, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs) and two wheelers. Thus, growing automotive production is a key factor expected to drive the global automotive gudgeon pin market over the forecast period.
On the flip side, the increasing number of emission-less vehicles such as electric vehicles or solar-powered vehicles is projected to hinder the growth of the global automotive gudgeon pin market in the coming years. Currently, electric vehicles are in the introductory phase; however, after ten to fifteen years, these electric vehicles may hamper the automotive gudgeon pin market at a global level.
Working Temperature of Titanium Automotive Gudgeon Pins is ~7.5 Times Higher than that of Steel Gudgeon Pins
Among the segments by materials, the steel segment is pegged to be a prominent segment with a 5% CAGR as steel can work efficiently at high temperatures. For instance, on piston face, piston ring and piston skirts, the average temperature is 300 degree Celsius, 220 degree Celsius, 190 degree Celsius respectively.
Therefore, a number of automotive gudgeon pin manufacturers are using steel for the manufacturing of gudgeon pins for vehicles. FMI predicts that the steel segment of the automotive gudgeon pin market will grow 0.6X by the end of 2027.
The annual growth of the titanium segment is relatively high as compared to its counterparts. Titanium is primarily used for high-performance vehicles as the material can work efficiently up to 1,500 degree Celsius. The titanium segment is projected to account for a value share 0.1X that of the steel segment in the global automotive gudgeon pin market by the end of the forecast period.
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Prominent Manufacturers are Offering Gudgeon Pins with Full Floating Mechanism
The full floating segment is expected to grow with a remarkable rate in the global automotive gudgeon pin market throughout the forecast period, as full floating gudgeon pins enable easy power transmission from the piston to the crankshaft. In the full floating automotive gudgeon pin arrangement, both ends of the automotive gudgeon pin float at the bearing surface.
The semi-floating segment is expected to grow at a moderate rate in the global automotive gudgeon pin market and create an incremental $ opportunity worth US$ 198.3 Mn during the forecast period.
Passenger Car Segment is Expected to Witness Noteworthy Demand for Automotive Gudgeon Pins
The passenger car segment is projected to account for a 50% value share in the global automotive gudgeon pin market, owing to the high production of passenger cars. The automotive gudgeon pin market for first fit vehicles is directly correlated to automotive vehicle production. In terms of annual growth, the two-wheeler segment is projected to grow with a remarkable growth rate during the latter half of the forecast period; however, it is expected to lose 39 BPS during the same time frame as its value share is anticipated to decrease by 0.4%.
The HCV segment is expected to grow with a moderate rate in the global automotive gudgeon pin market. The value of this segment is projected to grow 1.4x by the end of 2027 and the segment is estimated to create an absolute $ opportunity worth US$ 23.3 Mn between 2019 and 2027.
Key Strategies in Automotive Gudgeon Pin Market
Manufacturers of automotive gudgeon pins are observed to be adopting mainly three types of strategies, i.e. acquisition, collaboration and product launches, in order to establish a unique brand value and enrich their market shares across the globe. Some automotive gudgeon pin manufacturers are using diamond type surface finishing to increase lifespan of automotive gudgeon pins.
Automotive Gudgeon Pin Market Structure
The global automotive gudgeon pin market is consolidated by Tier-1 and Tier-2 players with the significant presence of large- and medium-sized manufacturers.
Tier-1 players are projected to account for a 55% to 65% share in the global automotive gudgeon pin market. Players such as Federal Morgul, Mahle GmbH and others make up the Tier-1 category while players such as Ross Racing Pistons and Arias Pistons make up the Tier-3 category.
Some of the prominent players covered in this study on the global automotive gudgeon Pin market include Federal Morgul, Mahle GmbH, Shriram Pistons & Rings Ltd., Aisin Seiki Co.Ltd, Rheinmetall Automotive AG, Ming Shun Industrial Co., Ltd. Elgin Industries, SAMKRG, KSPG, Arias Pistons, Burgess-Norton and Ross Racing Pistons.
Key Questions Answered in the Report
- How has the automotive gudgeon pin market evolved over the past four years?
- What shape is the automotive gudgeon pin market expected to take in terms of volume and value during the study period?
- What are some of the prevailing market dynamics in the automotive gudgeon pin market?
- What are the competition developments and trends in the automotive gudgeon pin market?
- What are some of the underlying macro-economic and industry factors impacting the growth of the automotive gudgeon pin market?
- What are the important key challenges, opportunities and improvement factors for automotive gudgeon pin market players?
- What are the important market positioning and key strategies of key manufacturers as per the automotive gudgeon pin market taxonomy?
- How is the competition structured at present? How has it evolved in the automotive gudgeon pin market over the past few years?