The aftermarket is prominently driven by China and Europe, the industry has been experiencing a slowdown in developing South Asian economies, in the recent past.
However, it reflects clear signs to gain the initial impetus in the near future. The growth of piston rings after market is correlated with the expansion of automotive industry and the aftermarket. The demand for piston rings in aftermarket is primarily driven by the unprecedented growth in demand for vehicle repair and maintenance. Swelling market size of auto and engine parts can be straightaway attributed to the considerably increased vehicle life.
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The study covers a complete study of the piston rings aftermarket with an analysis of types of piston rings used in automobiles and two-wheelers. The report summarizes the parent market for piston rings aftermarket i.e. automotive aftermarket sizing for different regions, which is expected to impact the growth of piston rings aftermarket.
Though piston ring sales in aftermarket are on a constant surge, there will be a plunge in terms of growth rate in the near future. Nonetheless, the report suggests a modest growth outlook for piston rings 2029.
Grey Iron Still the Preferred Material
As it does not scuff the cylinder bore, grey cast iron or grey iron has been the popular material choice for piston rings. Grey iron piston rings have accounted for nearly 50% of the market revenue registered in 2018 and continues to be the most appropriate piston ring material for most passenger car accessories applications.
Nonetheless, more power out of smaller displacement engines and the change to thinner low tension rings have increased the operating loads on the piston rings, especially the top compression ring that receives the brunt of the punishment. Consequently, predominant adoption of grey iron based piston rings for various automobiles is expected to continue in the near future.
Compact and Mid-Size Passenger Cars Set to Benefit
Consumer preferences in target geographies are witnessing a shift towards passenger cars, particularly mid-size and compact vehicles. The automotive fleet is thus anticipated to see healthy expansion by the end of 2029.
Automotive markets in Eastern Europe and Asia Pacific have a mammoth automobile fleet and robust annual sales volume; mirroring a substantial growth scenario for piston rings aftermarket in the near future. Expanding disposable income of consumers across the Middle East & Africa and other developing regions has bolstered the sales of new compact and mid-size cars.
However, the entry of electric vehicles is being perceived as a significant limiter to piston rings aftermarket.
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Piston Rings Aftermarket – Competitive Landscape
Dynamics of the automotive industry have been posing their potential impact on suppliers of piston rings. Moreover, a plausible manufacturing outlook for automobiles and piston rings have boosted the sentiments of manufacturers.
In terms of market structure, the piston rings aftermarket exhibits a highly competitive scenario, where leaders are facing fierce competition for the market share. Just about 20% of the global piston rings aftermarket is led by top 8-10 brands which is the consequence of sustained consumer demand for cheaper products during repair and maintenance.
Prominent players covered in the piston rings aftermarket report include –
Federal-Mogul LLC
MAHLE Aftermarket GmbH
Nippon Piston Ring co., Ltd.
Hastings Manufacturing Company, LLC
Grover Corporation
Riken Corporation
Cook Compression
Kolbenring India
Nanjing Fayn Piston Ring Co., Ltd.
NM-Germany GmbH
FINIMPIANTI S.r.l.
Asimco Shuanghuan Piston Ring (yizheng) Co., Ltd
Yoosung Enterprise Co., Ltd.
Grant Piston Rings
IP Rings Limited
Some of the key strategies adopted by piston rings aftermarket players include expansion of production capacities, branding of new products, enhancing the distributor network, and partnerships and joint ventures with regional market leaders are cited to remain some of the adopted strategies in the piston rings aftermarket.
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Piston Rings Aftermarket: Segmentation
By Ring
Compression Rings
Oil Ring
By Material
Grey Cast Iron
Chromium Steel
Other Steel Materials
By Vehicle
Passenger Cars
Compact
Mid-size
Luxury
SUVs
LCVs
HCVs
Buses and Coaches
Heavy Trucks and Trailers
Two-wheelers
Scooters and Mopeds
Motorcycles and Others
By Engine
Gasoline
Diesel
Liquid Gas
By Region
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa
