The global business is anticipated to witness a considerable CAGR of 3.5% by value during the period of 2022 and 2027. As per the key findings of the report, the global automotive cylinder liner market size is expected to witness considerable growth in upcoming years due to the increasing implementation of emission norms, coupled with downsizing of engines, resulting in the increase in demand for light weight automotive cylinder liners.
This growth is expected to be mainly driven by the increasing demand for passenger and commercial vehicles across the globe.
Emergence of High-Quality Automotive Cylinder Liners Expected to Drive the Market in APAC
Sales of automotive cylinder liners are directly related to the production of automobiles. China, being one of the prominent manufacturers in the automotive industry, is expected to account for a prominent share in the global automotive cylinder liner market.
The emergence of innovative, high-quality, and cost-effective products is expected to drive the market growth in the region. To enhance the durability and efficiency of engine, new materials have been developed, which are more efficient than the traditionally used in cylinder liners. In addition to rising number of regional players in Asian Pacific countries including China and India, key players are targeting the region for improved customer base and increased geographical footprint.
Furthermore, in India, the government provides an extensive support to farmers to purchase agricultural equipment and work more efficiently. The Indian government offers crop loans, credit schemes, and subsidized interest rates, which boost the demand for agricultural vehicles, in turn, increasing the demand for automotive cylinder liners.
Growing Electric Mobility to Impede the Market Growth
The dependency of consumers on conventional cylinder liners is now shifting. Consumers’ preference is expected to shift from conventional vehicles to electric vehicles, which is expected to create a hindrance in the growth of the automotive cylinder liner market across the globe.
A large production of electric vehicles in the Asia Pacific region is supporting the penetration of electric vehicles in the fuel-driven conventional automobile market. Increasing preference for electric vehicles, which are environment friendly, safe, and easy to handle, is likely to hamper the growth of the automotive cylinder liner market in the Asia Pacific region.
For more informatio: https://www.futuremarketinsights.com/reports/automotive-cylinder-liner-market
Automotive Cylinder Liner Market: Vendor Insights
The report highlights some of the prominent market players, who have established themselves as leaders in the global automotive cylinder liner market. Few examples of key players in the market are Federal-Mogul LLC, Mahle GmbH, Nippon Piston Rings Co. Ltd., ZYNP Corporation, India Pistons Ltd., TPR CO., LTD., Bergmann Automotive GmbH, Westwood Cylinder Liner Ltd., Aichi Machine Industry Co., Ltd. among others.
The global automotive cylinder liner market is considered to be significantly fragmented one. Global players falling under Tier-1 category accounts for ~20% of the overall market share, whereas medium-sized and small-sized players are expected to be prominent in the global market. Tier-1 players are focusing on investing in new technology that would contribute to reduce the weight of the engine.