Where the Piston Industry Stands and Future Projections
The piston industry is made up of the entire piston system, which includes piston rings, piston pin, and piston itself. In 2019, the piston industry was responsible for approximately $1.88 billion. This number is expected to continue to grow until 2027 due to a variety of different growth factors. The major points of growth would be the increased demand for passenger car gasoline engines, essentially showing the growth of the consumer market specifically.
The increasing popularity of lightweight pistons have also been a particular driver of growth. More specifically than this, flat-top pistons look to be the leader of the industry’s growth as they offer a high compression rate that is appealing for those looking to mass produce internal combustion engines.
When looking at growth geographically, the largest region for expansion in the market will certainly be the Asia-Pacific region. So much of the region has seen significant demand and growth for consumer passenger cars such as sedans, hatchbacks, and compact SUVs, all of which come equipped with four-cylinder engines.
As a result of all of these factors, the piston industry is projected to be responsible for $2.77 billion by 2027. This will be achieved through a compound annual growth rate of 5% over the period of time in consideration. The main factor that could be a detriment to the growth of the piston industry is the rise in popularity and demand for electric vehicles. As electric vehicles continue to see growth, the piston industry will suffer as a result, at least in some capacity.
The piston industry has several different areas primed for further growth and revenue over the next several years. In particular, the Asia-Pacific region has a significant demand for passenger vehicles that require pistons in their four-cylinder engines. However, as the electric vehicle market grows, the piston industry will see diminished growth as well. For now and throughout the next several years, the piston industry looks to be set for further expansion as it reaches nearly $3 billion, proving that the piston’s peak value has still not been fully achieved.
About the Author
Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.