[220 Pages Report] The global connecting rods market was valued at US$ 7 Bn in 2021. Sales of connecting rods will increase at a 4.8% CAGR, with the total connecting rod market size reaching US$ 11.7 Bn by 2032. Growth can be attributed to the increasing demand for lightweight and fuel-efficient vehicles, supplemented by consistent production of automobiles worldwide.
The connecting rods market is projected to register year-on-year growth of 4.5% in 2022. Minimal replacement rate and extended service life will spur demand for connecting rods in the market. Considering this, FMI has projected the market to reach 660.4 Mn Units in terms of volume by 2032.
| Attribute | Details |
|---|---|
| Connecting Rods Market Base Year Value (2021A) | US$ 7 Billion |
| Estimated Size (2022E) | US$ 7.3 Billion |
| Projected Year Value (2032F) | US$ 11.7 Billion |
| Value-based CAGR (2022 to 2032) | 4.7% |
| Collective Value Share: Top 3 Countries (2022E) | 41.8% |
In 2021, sales in the global connecting rods market accounted for 1.5-2% of the overall engine and engine parts market.
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Demand for connecting rods grew at a 1.5% CAGR between 2017 and 2021. While sales of other automotive parts have increased to an extent, connecting rods sales have remained stagnant. This is primarily due to the low aftermarket potential for connecting rods and high degree of dependence on automotive production trends. Suppliers are optimistic that this will change in the coming years as the market for electric and autonomous vehicles grows.
Manufacturers of connecting rods have been focusing on new product developments to meet the growing demand for innovative products from automotive OEMs, which is expected to push sales of connecting rods at a 4.5% CAGR over the assessment period.
In recent years, there have been significant developments in connecting rod design, primarily in terms of noise reduction and lightweight construction. One such development is the use of silicon-carbide (SiC) materials, which are comparatively lighter and stronger than traditional materials such as steel.
This has led to the development of ultra-lightweight rods that are less likely to cause noise and vibration. In addition to this, new coatings and surface treatments have been developed that improve durability and resistance to wear and corrosion. These advances are making connecting rods an increasingly important part of engine design, and they are likely to play a key role in the development of more efficient and environmental-friendly engines in the forthcoming years.
Several OEMs are focusing on research and development for creating new technologies and products to cater to the growing demand. Rising sales of passenger vehicles as well as light commercial vehicles in various countries is boosting the demand for connecting rods. These factors are expected to accelerate the growth in the connecting rods market over the forecast period.
Principal Consultant
Connecting rods function under extreme pressure and have to withstand high power loads from the the piston. They are generally made from steel and are designed to withstand high stress from piston movement in the engine. Various factors are considered while manufacturing connecting rods that are responsible for the enhancement of the performance of the engine.
Increasing number of on-road vehicles and growing production of automobiles in various countries are propelling demand for connecting rods. Connecting rods are crucial and highly stressed parts of the vehicle engine which makes them very important to the vehicle. These factors are contributing to the growth of the connecting rod market.
“Increasing Sales of Electric Vehicles in the U.S. Will Boost Sales of Connecting Rods”
Connecting rods are mostly used in automobile engines and the U.S. is one of the largest manufacturers of connecting rods. Different manufacturing processes and metals that have high tensile strength are preferred by automakers for developing connecting rods in the country.
These rods are now being made from aluminum as they absorb high strength impact and are lightweight as compared to steel or other metals. Manufacturers in the U.S. are focusing on product innovation and aiming to find ways to manufacture lighter and stringer rods to improve vehicle efficiency. Driven by this, sales in the U.S. will grow at a 4.3% CAGR over the assessment period.
“Expansion in the Automotive Sector Will Spur Demand for Connecting Rods”
China is projected to account for more than 70% of the East Asia connecting rods market share in 2022. Rising automobile production as well as growing on-road vehicles in China is a crucial factor accelerating sales of connecting rods in the country.
Ongoing technological innovation in connecting rods is one of the key driving factors in China. Companies are aiming to provide high-quality components that are lightweight, highly efficient, and affordable, which, in turn, is boosting sales of connecting rods in the market.
Additionally, the expansion of the country's automotive sector is expected to fuel connecting rods sales. These factors are expected to augment the growth in the China connecting rods market over the forecast period.
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“Sales of Steel Connecting Rods Will Remain High”
Materials like steel, aluminum, cast steel, fabricated steel, titanium, and aluminum alloy are used to make connecting rods. Among these, steel is highly preferred by manufacturers for performance vehicles due to its high stability, durability, and high tensile strength.
The material used for making connecting rods should be strong and robust as they undergo tremendous pressure in the vehicle engine. Lightweight material produces lesser noise and vibrations are essential which makes material selection an important factor while manufacturing connecting rods.
The material used in connecting rods affect the weight, cost, and performance of the engine. Manufacturers are also preferring aluminum due to its light weight and high tensile strength which is expected to boost sales at a 4.4% CAGR in this segment over the forecast period.
“Demand for Connecting Rods in Passenger Vehicles to Gain Traction”
Connecting rods are used in all types of vehicles from passenger cars to construction equipment. They are used in diesel as well as gasoline engine vehicles. Rising demand for connecting rods for internal combustion engine vehicles will continue pushing sales in this segment.
Automobile manufacturers are focusing on high strength and durability of connecting rods which is driving the demand in the market. As a result, total sales in the passenger vehicles segment are forecast to reach US$ 6.9 Bn by 2032.
The global connecting rods market is gaining momentum with the presence of several big and medium manufacturers and suppliers. Key players are focusing on research & development for new product innovations for connecting rods. They are focusing on expanding their geographic presence across the globe to acquire high market share. For instance:
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | US$ Billion for Value and Units for Volume |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, Italy, France, the UK, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, ANZ, Turkey, Northern Africa, South Africa |
| Key Segments Covered | Material Type, Vehicle Type, Sales Channel & Region |
| Key Companies Profiled | Linamar Corporation; MGP Connecting rods; Pauter Machine Co.; CP Carrillo Inc.; Mahle GmbH; Wiseco Piston Co. Ltd.; Albon Engineering & Manufacturing; Arrow Precision Ltd.; Gohsyu Corporation; Yasunaga Corporation; Sanjo Machine Works Ltd.; Metalart Corp; Bharat Forge Ltd.; IT Forging Co. Ltd |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
By Material Type:
By Vehicle Type:
By Sales Channel:
By Region:
The global connecting rod market is anticipated to reach a valuation of US$ 7.3 Bn in 2022.
The global connecting rod market is anticipated to witness a growth at 4.8% over the forecast period.
The global connecting rod market expanded at a 1.5% CAGR between 2017 and 2021.
Linamar Corporation, Mahle GmbH, Gohsyu Corporation, Yasunaga Corporation, Sanjo Machine Works Ltd., and others are the key players in the global connecting rod market.
Key players in the global connecting rod market are expected to hold around 60-65% of the total market share.
The top countries driving demand in the global connecting rod market are China, the U.S. and Germany.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
5. Global Connecting Rods Market Demand Analysis 2017 – 2021 and Forecast, 2022 – 2032
5.1. Historical Market Volume (‘000 Units) Analysis, 2017 – 2021
5.2. Current and Future Market Volume (‘000 Units) Projections, 2022 – 2032
5.3. Y-o-Y Growth Trend Analysis
6. Global Connecting Rods Market - Pricing Analysis
6.1. Regional Pricing Analysis By Material type
6.2. Global Average Pricing Analysis Benchmark
7. Global Connecting Rods Market Demand (in Value or Size in US$ Bn) Analysis 2017 – 2021 and Forecast, 2022 – 2032
7.1. Historical Market Value (US$ Bn) Analysis, 2017 – 2021
7.2. Current and Future Market Value (US$ Bn) Projections, 2022 – 2032
7.2.1. Y-o-Y Growth Trend Analysis
8. Market Background
8.1. Macro-Economic Factors
8.2. Forecast Factors - Relevance & Impact
8.3. Porter’s Five Forces Analysis
8.4. Impact of COVID – 19 Crisis
8.5. Value Chain
8.6. Market Dynamics
8.6.1. Drivers
8.6.2. Restraints
8.6.3. Opportunity Analysis
9. Global Connecting Rods Market Analysis 2017 – 2021 and Forecast 2022 – 2032, by Material Type
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Bn) and Volume (‘000 Units) Analysis By Material Type, 2017 – 2021
9.3. Current and Future Market Size (US$ Bn) and Volume (‘000 Units) Analysis and Forecast By Material Type, 2022 – 2032
9.3.1. Steel
9.3.2. Aluminium
9.3.3. Others
9.4. Market Attractiveness Analysis By Material Type
10. Global Connecting Rods Market Analysis 2017 – 2021 and Forecast 2022 – 2032, By Vehicle Type
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Bn) and Volume (‘000 Units) Analysis By Vehicle Type, 2017 – 2021
10.3. Current and Future Market Size (US$ Bn) and Volume (‘000 Units) Analysis and Forecast By Vehicle Type, 2022 – 2032
10.3.1. Passenger Cars
10.3.2. LCV
10.3.3. HCV
10.3.4. Two Wheeler
10.4. Market Attractiveness Analysis By Vehicle Type
11. Global Connecting Rods Market Analysis 2017 – 2021 and Forecast 2022 – 2032, By Sales Channel
11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ Bn) and Volume (‘000 Units) Analysis By Sales Channel, 2017 – 2021
11.3. Current and Future Market Size (US$ Bn) and Volume (‘000 Units) Analysis and Forecast By Sales Channel, 2022 – 2032
11.3.1. OEM
11.3.2. Aftermarket
11.4. Market Attractiveness Analysis By Sales Channel
12. Global Connecting Rods Market Analysis 2017 – 2021 and Forecast 2022 – 2032, by Region
12.1. Introduction
12.2. Historical Market Size (US$ Bn) and Volume (‘000 Units) Analysis By Region, 2017 – 2021
12.3. Current Market Size (US$ Bn) and Volume (‘000 Units) Analysis and Forecast By Region, 2022 – 2032
12.3.1. North America
12.3.2. Latin America
12.3.3. Europe
12.3.4. East Asia
12.3.5. South Asia & Pacific
12.3.6. MEA
12.4. Market Attractiveness Analysis By Region
13. North America Connecting Rods Market Analysis 2017 – 2021 and Forecast 2022 – 2032
13.1. Introduction
13.2. Historical Market Size (US$ Bn) and Volume (‘000 Units) Trend Analysis By Market Taxonomy, 2017 – 2021
13.3. Market Size (US$ Bn) and Volume (‘000 Units) Forecast By Market Taxonomy, 2022 – 2032
13.3.1. By Country
13.3.1.1. U.S.
13.3.1.2. Canada
13.3.2. By Material type
13.3.3. By Vehicle type
13.3.4. By Sales Channel
13.4. Market Attractiveness Analysis
13.4.1. By Country
13.4.2. By Material type
13.4.3. By Vehicle type
13.4.4. By Sales Channel
13.5. Drivers and Restraints - Impact Analysis
14. Latin America Connecting Rods Market Analysis 2017 – 2021 and Forecast 2022 – 2032
14.1. Introduction
14.2. Historical Market Size (US$ Bn) and Volume (‘000 Units) Trend Analysis by Market Taxonomy, 2017 – 2021
14.3. Market Size (US$ Bn) and Volume (‘000 Units) Forecast By Market Taxonomy, 2022 – 2032
14.3.1. By Country
14.3.1.1. Brazil
14.3.1.2. Mexico
14.3.1.3. Rest of Latin America
14.3.2. By Material type
14.3.3. By Vehicle type
14.3.4. By Sales Channel
14.4. Market Attractiveness Analysis
14.4.1. By Country
14.4.2. By Material type
14.4.3. By Vehicle type
14.4.4. By Sales Channel
14.5. Drivers and Restraints - Impact Analysis
15. Europe Connecting Rods Market Analysis 2017 – 2021 and Forecast 2022 – 2032
15.1. Introduction
15.2. Historical Market Size (US$ Bn) and Volume (‘000 Units) Trend Analysis By Market Taxonomy, 2017 – 2021
15.3. Market Size (US$ Bn) and Volume (‘000 Units) Forecast By Market Taxonomy, 2022 – 2032
15.3.1. By Country
15.3.1.1. Germany
15.3.1.2. France
15.3.1.3. U.K
15.3.1.4. Italy
15.3.1.5. Spain
15.3.1.6. Russia
15.3.1.7. BENELUX
15.3.1.8. Rest of Europe
15.3.2. By Material type
15.3.3. By Vehicle type
15.3.4. By Sales Channel
15.4. Market Attractiveness Analysis
15.4.1. By Country
15.4.2. By Material type
15.4.3. By Vehicle type
15.4.4. By Sales Channel
15.5. Drivers and Restraints - Impact Analysis
16. East Asia Connecting Rods Market Analysis 2017 – 2021 and Forecast 2022 – 2032
16.1. Introduction
16.2. Historical Market Size (US$ Bn) and Volume (‘000 Units) Trend Analysis By Market Taxonomy, 2017 – 2021
16.3. Market Size (US$ Bn) and Volume (‘000 Units) Forecast By Market Taxonomy, 2022 – 2032
16.3.1. By Country
16.3.1.1. China
16.3.1.2. Japan
16.3.1.3. South Korea
16.3.2. By Material type
16.3.3. By Vehicle type
16.3.4. By Sales Channel
16.4. Market Attractiveness Analysis
16.4.1. By Country
16.4.2. By Material type
16.4.3. By Vehicle type
16.4.4. By Sales Channel
16.5. Drivers and Restraints - Impact Analysis
17. South Asia & Pacific Connecting Rods Market Analysis 2017 – 2021 and Forecast 2022 – 2032
17.1. Introduction
17.2. Historical Market Size (US$ Bn) and Volume (‘000 Units) Trend Analysis By Market Taxonomy, 2017 – 2021
17.3. Market Size (US$ Bn) and Volume (‘000 Units) Forecast By Market Taxonomy, 2022 – 2032
17.3.1. By Country
17.3.1.1. India
17.3.1.2. ASEAN
17.3.1.3. Rest of South Asia & Pacific
17.3.2. By Material type
17.3.3. By Vehicle type
17.3.4. By Sales Channel
17.4. Market Attractiveness Analysis
17.4.1. By Country
17.4.2. By Material type
17.4.3. By Vehicle type
17.4.4. By Sales Channel
17.5. Drivers and Restraints - Impact Analysis
18. Middle East & Africa Connecting Rods Market Analysis 2017 – 2021 and Forecast 2022 – 2032
18.1. Introduction
18.2. Historical Market Size (US$ Bn) and Volume (‘000 Units) Trend Analysis By Market Taxonomy, 2017 – 2021
18.3. Market Size (US$ Bn) and Volume (‘000 Units) Forecast By Market Taxonomy, 2022 – 2032
18.3.1. By Country
18.3.1.1. Turkey
18.3.1.2. North Africa
18.3.1.3. South Africa
18.3.1.4. Rest of MEA
18.3.2. By Material type
18.3.3. By Vehicle type
18.3.4. By Sales Channel
18.4. Market Attractiveness Analysis
18.4.1. By Country
18.4.2. By Material type
18.4.3. By Vehicle type
18.4.4. By Sales Channel
18.5. Drivers and Restraints - Impact Analysis
19. Key and Emerging Countries for Connecting Rods Market Analysis
19.1. U.S. Connecting Rods Market Analysis
19.1.1. By Material Type
19.1.2. By Vehicle Type
19.1.3. By Sales Channel
19.2. Canada Connecting Rods Market Analysis
19.2.1. By Material Type
19.2.2. By Vehicle Type
19.2.3. By Sales Channel
19.3. Brazil Connecting Rods Market Analysis
19.3.1. By Material Type
19.3.2. By Vehicle Type
19.3.3. By Sales Channel
19.4. Mexico Connecting Rods Market Analysis
19.4.1. By Material Type
19.4.2. By Vehicle Type
19.4.3. By Sales Channel
19.5. Germany Connecting Rods Market Analysis
19.5.1. By Material Type
19.5.2. By Vehicle Type
19.5.3. By Sales Channel
19.6. France Connecting Rods Market Analysis
19.6.1. By Material Type
19.6.2. By Vehicle Type
19.6.3. By Sales Channel
19.7. U.K Connecting Rods Market Analysis
19.7.1. By Material Type
19.7.2. By Vehicle Type
19.7.3. By Sales Channel
19.8. Italy Connecting Rods Market Analysis
19.8.1. By Material Type
19.8.2. By Vehicle Type
19.8.3. By Sales Channel
19.9. Spain Connecting Rods Market Analysis
19.9.1. By Material Type
19.9.2. By Vehicle Type
19.9.3. By Sales Channel
19.10. Russia Connecting Rods Market Analysis
19.10.1. By Material Type
19.10.2. By Vehicle Type
19.10.3. By Sales Channel
19.11. BENELUX Connecting Rods Market Analysis
19.11.1. By Material Type
19.11.2. By Vehicle Type
19.11.3. By Sales Channel
19.12. China Connecting Rods Market Analysis
19.12.1. By Material Type
19.12.2. By Vehicle Type
19.12.3. By Sales Channel
19.13. Japan Connecting Rods Market Analysis
19.13.1. By Material Type
19.13.2. By Vehicle Type
19.13.3. By Sales Channel
19.14. South Korea Connecting Rods Market Analysis
19.14.1. By Material Type
19.14.2. By Vehicle Type
19.14.3. By Sales Channel
19.15. India Connecting Rods Market Analysis
19.15.1. By Material Type
19.15.2. By Vehicle Type
19.15.3. By Sales Channel
19.16. ASEAN Connecting Rods Market Analysis
19.16.1. By Material Type
19.16.2. By Vehicle Type
19.16.3. By Sales Channel
19.17. Turkey Connecting Rods Market Analysis
19.17.1. By Material Type
19.17.2. By Vehicle Type
19.17.3. By Sales Channel
19.18. North Africa Connecting Rods Market Analysis
19.18.1. By Material Type
19.18.2. By Vehicle Type
19.18.3. By Sales Channel
19.19. South Africa Connecting Rods Market Analysis
19.19.1. By Material Type
19.19.2. By Vehicle Type
19.19.3. By Sales Channel
20. Market Structure Analysis
20.1. Market Analysis by Tier of Companies
20.2. Market Positioning
20.3. Market Share Analysis of Top Players
20.4. Market Presence Analysis
20.4.1. By Regional footprint of Players
21. Competition Analysis
21.1. Competition Dashboard
21.2. Competition Deep Dive
21.2.1. Linamar Corporation
21.2.1.1. Overview
21.2.1.2. Product Portfolio
21.2.1.3. Strategy Overview
21.2.2. MGP Connecting Rods
21.2.2.1. Overview
21.2.2.2. Product Portfolio
21.2.2.3. Strategy Overview
21.2.3. Pauter Machine Co.
21.2.3.1. Overview
21.2.3.2. Product Portfolio
21.2.3.3. Strategy Overview
21.2.4. CP Carrillo Inc.
21.2.4.1. Overview
21.2.4.2. Product Portfolio
21.2.4.3. Strategy Overview
21.2.5. Mahle GmbH
21.2.5.1. Overview
21.2.5.2. Product Portfolio
21.2.5.3. Strategy Overview
21.2.6. Wiseco Piston Co. Ltd.
21.2.6.1. Overview
21.2.6.2. Product Portfolio
21.2.6.3. Strategy Overview
21.2.7. Albon Engineering & Manufacturing Plc
21.2.7.1. Overview
21.2.7.2. Product Portfolio
21.2.7.3. Strategy Overview
21.2.8. Arrow Precision Ltd.
21.2.8.1. Overview
21.2.8.2. Product Portfolio
21.2.8.3. Strategy Overview
21.2.9. Gohsyu Corporation
21.2.9.1. Overview
21.2.9.2. Product Portfolio
21.2.9.3. Strategy Overview
21.2.10. Yasunaga Corporation
21.2.10.1. Overview
21.2.10.2. Product Portfolio
21.2.10.3. Strategy Overview
21.2.11. Sanjo Machine Works Ltd.
21.2.11.1. Overview
21.2.11.2. Product Portfolio
21.2.11.3. Strategy Overview
21.2.12. Metalart Corporation
21.2.12.1. Overview
21.2.12.2. Product Portfolio
21.2.12.3. Strategy Overview
21.2.13. Bharat Forge Limited
21.2.13.1. Overview
21.2.13.2. Product Portfolio
21.2.13.3. Strategy Overview
21.2.14. IT Forging (Thailand) Co. Ltd
21.2.14.1. Overview
21.2.14.2. Product Portfolio
21.2.14.3. Strategy Overview
22. Assumptions and Acronyms Used
23. Research Methodology
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Connecting Rods Market
