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The Automotive Engine Cylinder Block Market?is anticipated to register a CAGR of about 4%, during the forecast period (2020 – 2025).
- The major factors driving the growth of automotive engine cylinder block market are increase in production and sales of vehicles during the forecast period, automotive OEMs downsizing their vehicles’ engine capacity to get more fuel efficiency, reduction in overall weight of the vehicle and strict government norms regarding emission control.
- With an increase in sales and production of automobiles the market of automobile cylinder head will also increase as it is the heart of the automobile’s engine. With the increase in income levels of people across the world, more people are buying better and luxurious vehicles. In most of these vehicles, the size of the engine is comparatively larger which feature more cylinders. Even this factor is expected to help the market grow.
Key Market Trends
Automotive OEMs Downsizing Engine will be a Restraint
The light weight passenger vehicle manufacturers are preferring downsizing the size of their engine capacity so that the fuel efficiency of the vehicle can be increased and also the strict emission norms can be followed as the small engine size burns less fuel and hence less carbon emissions. In December 2018, Ford introduced Ecosport S Ecoboost downsizing the engine size to 1.0-litre turbocharged EcoBoost petrol engine.
This factor is praised by the end consumers also because these lightweight passenger vehicles are mainly used for commuting within a short radius and hence high-power engines are not desired by them. The gain for end customers in this category is overall low cost of the engine and increased fuel efficiency. But reducing the engine size will be a restraint for the market as the number of cylinders will be reduced.
Asia-Pacific is Expected to be the Largest Market
The region accounts for almost 60% of world’s population as well as major developing economies of the world like China, India. During the forecast period Asia-Pacific nations are expected to grow considerably which might see an increased demand for automobiles in the region. Also, people in this geography are replacing vehicles at a faster rate than it was a few years ago. Engine re-works and re-assembly are also popular in this region that will drive the growth of automotive engine cylinder blocks market. The players in the region are expanding aggressively to increase their supply capacity so that they can fulfill the OEMs and aftermarket demand. All these factors are expected to help Asia Pacific market register further growth.
The Automotive engine piston rings market is fragmented, with several players vying for considerable share in the market. Some of the prominent companies in the Automotive Engine Cylinder Block market are Cummins, Perkin’s Engine Co., Fiat Chrysler automobiles and others. Companies are investing heavily in research and development for the innovation of new and advanced products and technologies. In March 2020, Fiat Chrysler Automobiles announced that they will be investing USD 400million to use their transmission plant in Indiana to build engines.
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