Automotive Global Automotive Piston Market | Page 2

“Automotive Piston Market: Global Demand Analysis &
Opportunity Outlook 2024”
The global automotive piston market is segmented into type such as steel
piston and aluminum piston. Among these segments, aluminum
automotive piston segment is expected to occupy top position in overall
automotive piston market during the forecast period. Rising demand for
lightweight piston is expected to propel the growth of automotive industry
during the forecast period. Further, rising demand for two wheeler vehicles
in developing nations such as India and China are anticipated to drive the
growth of aluminum piston market.
Global Automotive Piston Market is expected to flourish at a
significant CAGR of 5.1% during the forecast period. Moreover, the global
automotive piston market is expected to garner USD 15,910 Million by the
end of 2024. Rising production and demand for automobiles across the
globe is driving the growth of automotive piston market. Moreover,
changing travel patterns coupled with increasing disposable income, low
penetration of public transportation in most developing cities are
increasing the demand for automotive piston which further is expected to
bolster the growth of automotive piston market during the forecast period.
Asia Pacific showcased the highest demand for automotive piston in 2016.
Further, riding on the back of factors like rapid growth in automobile sector
and rising use of double cylinder engine in the motorcycle, Asia-Pacific is
projected to continue its dominance during the forecast period. In Asia-
Pacific region, China, Japan, South Korea and India are the major countries
which are creating a huge demand for the automotive piston. After Asia-
Pacific, Europe is the biggest market and expected to showcase a
tremendous growth over the forecast period i.e. 2017-2024. Increasing
demand and sale of automobiles in the Europe is the major factor which is
fuelling the demand for automotive piston market.
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