Piston Ring Market

Introduction

Global sales of automotive piston rings reached ~450 million units (Sets) in 2017, which are expected to increase at a promising 4.4% CAGR through 2027. The sales are likely to equate ~660 million units (Sets) towards the end of projection period, 2019-2027. Automotive piston rings are the metallic rings located between the cylinder and the piston and hence, necessary engine components that allow the engine to work accurately.

The primary functions of automotive piston rings in an automobile include sealing the cylinder to eliminate the risk of gas leakage during combustion, controlling the amount of lubricant, releasing the heat created during ignition and preventing the knocking of the piston on to the cylinder walls. Usually, each cylinder consists of three automotive piston rings, 2 compression piston rings and an oil scraper piston ring.

Technological advancements in materials and manufacturing techniques in the automotive industry and the high adoption of ICEs (internal combustion engines) due to the increasing awareness regarding the importance of reducing carbon footprint are a couple of primary factors expected to create significant opportunities for the manufacturers of automotive piston rings over the projected period.

Use of Automotive Piston Rings for Engine Emission Control

Automotive piston rings keep the gas in the tank and prevent it from evaporating as gasoline has a tendency to evaporate at a fairly low temperatures. It is estimated that about 20% of vehicular emission is the result of evaporation; thus, the federal government has imposed regulations in order to prevent the evaporation of gas in the atmosphere.

Therefore, steel automotive piston rings are expected gain traction in the market as manufacturers are adopting advanced piston rings for vehicle engines to meet government standards such as the Euro 6 environmental standard that aims to reduce vehicle emission, in particular NOx (Nitrogen Oxide) and particulate matters. These factors are expected to fuel the growth of the automotive piston rings market.

Technological and Material Advancements in the Manufacturing of Automotive Piston Rings Key to Sustain Market Share

Growing interest towards green engine technologies is expected to increase the demand for powertrains in the coming years. In addition, downsizing of ICE (Internal Combustion Engine) is an efficient way to reduce gas emission from an automobile. For instance, the utilization of steel in the manufacturing of piston rings facilitates the manufacturing of thinner rings, which in turn offers a number of advantages.

For instance, a lighter piston ring will seal against the groove more efficiently and a smaller radius offers better strength. Both the factors contribute to a reduction in the consumption of oil and thus, reduce the emission of volatile particulate matters. Thus, technological advancement in powertrain is an emerging trend in the automotive piston rings market.

Key Developments in the Automotive Piston Rings Market

The global automotive piston rings market is fairly consolidated with key manufacturers accounting for a substantial market share as of 2017. In the recent past, the automotive piston rings market has witnessed compelling advancements from key players such as Nippon Piston Ring Co., Ltd., Federal Mogul, MAHLE GmbH, Riken Corporation and ASIMCO, among others.

• In October 2018, Federal Mogul, a prominent manufacturer of automotive piston rings was acquired by Tenneco
• Nippon Piston Ring Co., Ltd. and ASIMCO Group's Yizheng Shuanghuan Piston Ring Co., Ltd. entered into a joint venture in 2013 to start a new company called Yizheng NPR ASIMCO Powder Metallurgical Manufacturing Co., Ltd.

Furthermore, key manufacturers in the global automobile piston rings market are significantly investing on research and development to develop lightweight products for controlling vehicle emission. These key developments are expected to boost the growth of the automotive piston rings market over the forecast period.

Automotive Piston Rings Market: Competitive Landscape

The automotive piston rings market is fairly consolidated and Tier-1 players account for a significant share in the global automotive piston rings market. Organized players have strong presence in developing as well as developed regions.

However, unorganized/tier-2&3 players in the automotive piston rings market are estimated to generate most of the revenue from the aftermarket as well as two-wheeler segment.

Overview of the Research Methodology

During the course of research we have conducted deep-dive analysis to develop a unique research methodology.

• Defining key objectives pertaining to the automotive piston rings market during the course of research
• Clearly defining the research scope as well as collecting and analyzing the data from secondary and primary research
• Interpreting the gathered Information
• Using triangulation method, validating the data and market size

Key Questions Answered in the Automotive Piston Rings Market Report

• What is the historic (2013-2018) scenario of the automotive piston rings Market?
• Which type of material is preferred in the manufacture of automotive piston rings?
• What are the main factors that drive the growth of the automotive piston rings market?
• What are the prominent trends in the automotive piston rings market?
• What are some of the key forecast factors expected to affect the growth of the automotive piston rings market?
• How competitive is the aftermarket and market share analysis of the top players in the automotive piston rings market?
• How are the key players expected to drive the automotive piston rings market in the next 8 to 10 years?

Key Players Operating in Automotive Piston Rings Market

Some of the key market participants reported in this study on the automotive piston rings are Federal Morgul, Mahle GmbH, Nippon Piston Rings Co., Ltd., Riken Corporation, TPR Co., Ltd, Asimco, IP Rings Ltd, Hunan Zhengyuan Piston Ring Co., Ltd, Shriram Pistons & Rings Ltd., Abilities India Pistons & Rings Ltd., SAMKRG, Grover Corporation., and Anhui Ring New Group, among others.

Market Segmentation

Attribute	Details
Material Type	Cast Iron Piston Rings Steel Piston Rings
Vehicle Type	Compact Cars Mid-Size Cars SUV Cars Luxury Cars Light Commercial Vehicles Heavy Commercial Vehicles Motorcycles Scooters
Engine Type	Gasoline Engine Diesel Engine
Sales Channel	OEM (Original Equipment Manufacturer) Aftermarket
Region	North America Latin America Europe Japan Asia Pacific Excluding China Middle East & Africa

To know more about delivery timeline for this report Contact Sales