Automotive Gudgeon Pin Market

Automotive Gudgeon Pin Market Snapshot

[167 Pages] Future Market Insights (FMI) has estimated the Automotive Gudgeon Pin market to grow with year on year growth of 4.3% in 2022 reaching value of about US$ 3,149.4 Mn by 2022 end. The global industry is projected to observe a significant CAGR of 5.0% by value during the period of 2022 and 2027.

Attribute	Details
Automotive Gudgeon Pin Market Base Year Value (2021A)	US$ 3,149.4 million
Automotive Gudgeon Pin Market Estimated Year Value (2022E)	US$ 3,310.3 million
Automotive Gudgeon Pin Market Projected Year Value (2027F)	US$ 4,024.3 million
Value CAGR (2022 to 2027)	5.0%
Collective Value Share: Top 3 Countries (2022E)	48.0%

FMI has identified China to be the key market for Automotive Gudgeon Pin market over the forecast period owing to the predominance of major original equipment manufacturers as well as the aftermarket in China, China will lead the automotive gudgeon pin market.

Because of the simple availability of raw materials, low labour costs, and low production costs, Europe and the United States will relocate their activities to China. The country is estimated to hold around 60% in the APAC Automotive Gudgeon Pin market in 2022.

How The Market Progressed Till June 2022?

Market Statistics	Details
H1,2021 (A)	4.9%
H1,2022 Projected (P)	5.0%
H1,2022 Outlook (O)	5.3%
BPS Change : H1,2022 (O) - H1,2022 (P)	(+) 30 ↑
BPS Change : H1,2022 (O) - H1,2021 (A)	(+) 35 ↑

The expansion of services and the replacement of engine parts in the aftermarket are the main drivers of the automotive gudgeon pin market, which Future Market Insights forecast will be the subject of a comparison and review study. The global automotive market's vehicle PARC, or the number of automobiles in use, is anticipated to grow at a brisk rate, supporting the growth of the automotive gudgeon pin market.

Improved economic conditions in developing nations around the world, rising employment rates, rising disposable income, and an increase in dual-income households among middle-class families are the main factors boosting demand for passenger cars.

All of these factors are anticipated to hasten the growth of the automotive gudgeon pin market. With growing interest in cleaner engine technology and a move toward a more integrated approach to mechanical and electrical engineering, demand for powertrains will increase.

Additionally, downsizing the ICE is the most cost-effective way to reduce gas emissions from an automobile (internal combustion engine). For instance, the use of steel in the production of automotive gudgeon pins enables a reduction in ring thickness, which has several benefits.

FMI analysis predicts a 35-unit increase in the change in BPS values seen in the market for automotive gudgeon pin in H1, 2022 - Outlook compared to first-half 2021 actual. The market is anticipated to grow by 30 basis points compared to earlier predictions for the first half of 2022.

2013-2021 Automotive Gudgeon Pin Market Outlook Compared to 2022-2027

Demand outlook for gudgeon pin between 2013 and 2021 remains 4.3% as the pandemic crisis has impacted the market. Reduced demand for gudgeon pin in several applications sectors has hampered market growth in 2020, resulting in a drop in overall growth over the previous eight years.

The automobile gudgeon pin is a crucial component of the engine assembly in all types of vehicles on the market. In the OEM market, rising vehicle production in major regions such as Asia Pacific, Latin America, and Africa is expected to enhance sales of automotive gudgeon pins.

The growing demand for automotive gudgeon pin in the global market is expected to be fueled by the expanding services and replacement of engine components in the aftermarket. The vehicle PARC, or the number of cars in use, is expected to expand at a healthy rate in the global automotive market, which will support the expansion of the automotive gudgeon pin market.

Furthermore, the rising popularity of two-wheelers in countries such as India, China, Brazil, Mexico, Turkey, and the ASEAN countries, among others, is expected to drive the global automotive gudgeon pin market throughout the forecast period.

The primary drivers augmenting demand for passenger cars are improving economic conditions in developing countries around the world, rising employment rates, increasing disposable income, and the rise in dual income households of middle class families, all of which are expected to accelerate the growth of the automotive gudgeon pin market.

Other factors driving the expansion of passenger automobiles and increasing demand for automotive engine components like gudgeon pin are affordable price brackets for the middle-class population and a rising standard of living.

Which Recent Trends Are Impacting Automotive Gudgeon Pin Market?

In the coming years, demand for powertrains will rise as interest in greener engine technology grows, as well as a shift toward a more integrated approach to mechanical and electrical engineering. Also, the most economical technique to cut gas emissions from an automobile is to downsize the ICE (internal combustion engine).

The use of steel in the manufacture of automotive gudgeon pins, for example, allows for a reduction in ring thickness, which has various advantages.

For example, a lighter gudgeon pin seals better against the groove, and a smaller radius gives more strength. As a result, light gudgeon pins minimize oil consumption, lowering emissions of volatile particulate matter. As a result, the automobile gudgeon pin market is seeing technical breakthroughs in engines.

What are the Key Opportunities for Automotive Gudgeon Pin Market?

The key to success for automotive gudgeon pin producers is strategic placement in regional markets, national markets, and business lines. Significant market participants might reduce the pricing pressure produced by regional companies by building strong positions in regional markets and enterprises, which would allow them expand their profitability and growth potential.

The ability of significant players to understand regional strategies and marketing tactics will determine their prospective chances. Furthermore, a strong workforce that can improve customer relationships, as well as solid distribution channels, can aid multinational corporations in gaining a competitive advantage in regional markets.

What Is the Impact of the COVID-19 Crisis on the Automotive Gudgeon Pin Market?

The 2020 market lockdown, which was enacted in a number of countries, had a detrimental impact. Obstacles have emerged as a result of constrained production and transportation-related delays imposed by travel restrictions. Furthermore, commerce activity had come to a stop due to widespread lockdowns and restriction of movement.

Manufacturing industry shutdowns have had an impact on the global demand for Automotive Gudgeon Pins in 2020. The decline in public transportation has had a substantial impact on the Automotive Gudgeon Pin market.

Country-wise Insights

Why is the Demand for Automotive Gudgeon Pin Increasing in U.S.?

The U.S. is projected to account for approximately 88.3% of the North America Automotive Gudgeon Pin market in 2022. Over the projected period, the United States is also expected to see strong market expansion due to increased output in the automotive industry.

However, due to the slowdown in output, demand in this country is expected to expand at a moderate rate. Over the forecast period, capacity increases in the United States are expected to raise the market call.

What is the Anticipated Growth Rate of the Automotive Gudgeon Pin Market in Germany?

Germany is projected to grow at a CAGR of 5.1% in the global Automotive Gudgeon Pin industry owing to increasing number of vehicle in the country during 2022-27.

The market is predicted to grow due to an increase in ICE vehicle production and sales, as well as increased demand for high-performance and premium vehicles, and advancements in piston cooling efficiency technologies.

What is Growth Outlook in China?

China is projected to hold nearly 60% of the APAC gudgeon pin market in 2022. China's transportation business is still thriving, with Chinese Gudgeon Pin manufacturers producing and exporting large quantities of Gudgeon Pin all over the world.

Because of the country's increased public transit, China's transportation industry is predicted to be among the most opportunistic. In the foreseeable years, the growing number of manufacturers in China would give a lucrative opportunity in the Automotive Gudgeon Pin market.

Category-wise Insights

Which of the Automotive Gudgeon Pin Material is used most?

Steel is expected to be a major segment with a 5.0% CAGR among the material segments, as steel can perform successfully at high temperatures. For example, the average temperature on the piston face, piston ring, and piston skirts is 300 degrees Celsius, 220 degrees Celsius, and 190 degrees Celsius, respectively. As a result, a lot of automotive gudgeon pin producers use steel to make gudgeon pins for automobiles.

What Is The Gudgeon Pin Market Outlook By Product Type?

The full floating segment of the worldwide automotive gudgeon pin market is predicted to increase at a remarkable rate of 5.5% CAGR over the forecast period of 2022-27, as full floating gudgeon pins allow for easy power transmission from the piston to the crankshaft.

Both ends of the automobile gudgeon pin float at the bearing surface in the full floating automotive gudgeon pin system. Gudgeon pins with full floating mechanisms are available from reputable manufacturers.

Which of the Vehicle Type of Gudgeon Pin to Gain Traction in Near Future?

Due to the large production of passenger cars, the passenger car category is expected to account for nearly 52% of the worldwide automotive gudgeon pin market in 2022. The market for automotive gudgeon pins for first-fit automobiles is inextricably linked to vehicle production. The two-wheeler segment is expected to develop at a spectacular rate of 4.7% throughout the second half of the forecast period in terms of yearly growth.

Competitive Landscape

Manufacturers of automobile gudgeon pins have been seen to use primarily three sorts of tactics to build a unique brand value and expand their market shares around the world: acquisition, partnership, and product releases. Some automobile gudgeon pin producers use diamond-like surface polishing to extend the life of their products.

Scope of Report

Attribute	Details
Forecast Period	2022-2027
Historical Data Available for	2013-2021
Market Analysis	USD Million for Value, Units for Volume
Key Regions Covered	North America; Latin America; Europe; Japan; APAC; MEA
Key Countries Covered	USA, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Russia, GCC Countries, China, Japan, South Korea, Singapore, Malaysia, Indonesia, Thailand, India
Key Segments Covered	Material Type, Product Type, Vehicle Type, Sales Channel and Region
Key Companies Profiled	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
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Automotive Gudgeon Pin Market By Segmentation

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

Frequently Asked Questions

What is the current size of global Automotive Gudgeon Pin market?

The Automotive Gudgeon Pin market is expected to account for US$ 3,149.4 Mn in 2022.

What is the demand outlook for Automotive Gudgeon Pin market?

The Automotive Gudgeon Pin market has been estimated to exhibit growth rate of 5.0% between 2022 and 2027 on value basis.

Who are the top players in the Automotive Gudgeon Pin market and what is their total share?

Federal Morgul and Mahle GmbH are the leading market players. They collectively are anticipated to account for 50% to 55% of the global market share.

What is the market outlook of Automotive Gudgeon Pin in U.S.?

The demand in U.S. is expected to increase by 4.1% CAGR between 2022 and 2027 on value basis.

Which countries are the key consumers of Automotive Gudgeon Pin?

U.S., China, Germany, are the key consumer of Automotive Gudgeon Pin.