Future Market Insights (FMI) estimates that the automotive gudgeon pin market will experience year-on-year growth of 4.3% in 2022, reaching approximately USD 3,149.4 million by the end of the year. The global market is projected to observe a significant compound annual growth rate (CAGR) of 5.0% from 2022 to 2027.
Valued at around USD 3.3 billion, the automotive gudgeon pin market is set for moderate growth, with a yearly revenue increase of just under 5% expected in 2022. A recent study by Future Market Insights highlights the critical role of the aftermarket in influencing overall sales within the automotive gudgeon pin industry.
The report also emphasizes the increasing importance of green combustion engine technologies in shaping the competitive landscape of the automotive gudgeon pin market, indicating a shift towards more sustainable practices in automotive manufacturing.
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Research spots a few prominent attributes favoring adoption of gudgeon pins in automobile –
- Growing proclivity for automation
- Increasing demand for high efficiency, smart engine systems
- Material innovation to deliver stronger, lightweight, and corrosion resistant products
- Introduction of enduring gudgeon pins with high load capacity
Automotive Gudgeon Pin Market Remains a Consolidated Landscape
The market structure analysis uncovers that the global automotive gudgeon pin landscape is fairly consolidated owing to significant presence of Tier 1 and Tier 2 companies. Accounting for more than 55% share in the global market value, Tier 1 players such as Mahle GmbH and Federal Morgul continue to augment investments in strategic acquisitions and collaborations, according to the report.
A majority of competitors operating in the global landscape of automotive gudgeon pin market are likely to focus on new product development and launches for an enhanced market position through a unique brand value. Moreover, the report points to a growing focus of a number of gudgeon pin manufacturers on extending product lifespan through diamond surface finishing.
Based on the mechanism, full floating mechanism remains highly preferred among manufacturers of automotive gudgeon pins, which has been attributed to the capability of full floating mechanism to facilitate power transmission to crankshaft from piston. The adoption of semi-floating mechanism on the other side is projected to progress at a moderate pace during upcoming years.
High-end Automakers Shifting to Titanium-based Gudgeon Pins
As indicated by the material-wise analysis of the global automotive gudgeon pin market, steel has been a prominent choice among manufacturers owing to superior efficiency to function within high temperature ranges, i.e. up to 3000 Celsius.
However, titanium is gradually emerging as a more lucrative and favored material type among key manufacturers of automotive gudgeon pins. Titanium-based gudgeon pins, projected for rapid growth in adoption especially for high performance vehicles, is earning higher popularity owing to an exceptional ability to function at temperatures as high as 15000 Celsius that is manifold compared to that of steel.
Aftermarket Reflects Noteworthy Potential in Terms of Sales
Research evaluates the impact level of growing purchasing power of consumers on the overall sale of automotive gudgeon pins. With an increasing number of consumers actively investing in high-end cars, it is more likely that the subsequently growing demand for premium vehicle maintenance and servicing would fuel the demand for aftermarket parts at a high pace. Automotive gudgeon pins are thus likely to discover lucrative adoption opportunities in both the segments, aftermarket as well as OEMs, says the report.
Over 50% of the US consumer base prefers aftermarket supplies of automotive components over expensive parts supplied by OEMs. While the US has been among the key automotive markets over the years, the aforementioned statistical figure will reportedly account for a significantly growing revenue share of aftermarket in the automotive gudgeon pin landscape.
Key Players
- 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;
- Ross Racing Pistons
Automotive Gudgeon Pin Market By Segmentations
By Material Type:
- Steel
- Titanium
- Aluminum
By Product Type:
- Fixed Pin
- Semi-Floating Pin
- Full Floating Pin
By Vehicle Type:
- Passenger Car
- LCV
- HCV
- Two Wheelers
By Sales Channel:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- Japan
- APAC
- MEA
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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