The global Automotive Tappet Market is estimated to be valued at US$ 9.17 Bn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Automotive Tappets are components located in the engine block that open and close engine valves to allow the entry and exit of fuel combustion gases into cylinders. Automotive tappets play an important role in engine performance by ensuring optimal timing of valves.
Market key trends:
One of the key trends in the automotive tappet market is the increasing demand for enhanced fuel efficiency and low emissions. Manufacturers are developing new tappet designs that enable improved valve timing and more precise fuel injection, which enhances engine performance while reducing emissions and improving fuel efficiency. For example, variable valve timing tappets allow dynamic adjustment of valve lift and timing according to engine load conditions. This significantly improves fuel consumption in automobiles. Furthermore, advanced tappet material such as Titanium is gaining popularity as it reduces tappet weight by nearly 50% compared to steel tappets. Lighter tappets improve acceleration and engine responsiveness of vehicles.
Market Key Trends:
The automotive tappet market is witnessing high growth owing to increasing vehicle production across the globe. Growing demand for passenger and commercial vehicles especially in emerging economies of Asia Pacific is driving the market. Additionally, rising preference for high performance engines that require efficient tappets is further fueling the sales. However, rising adoption of electric vehicles may hamper the growth of this market in coming years.
SWOT Analysis
Strength: proven technology with long operational life; enables quiet and trouble-free engine performance
Weakness: can face issues due to wear and tear; requires periodic replacement
Opportunity: growth in commercial vehicle production in developing nations; increasing demand for high-end vehicles
Threats: stringent emission norms favoring electric vehicles; low cost alternatives available in some regions
Key Takeaways
The global automotive tappet market is expected to witness high growth, exhibiting CAGR of 3.8% over the forecast period, due to increasing vehicle production across the globe. Asia Pacific dominates the global market owing to high vehicle production hubs in China, India and other Southeast Asian countries.
Regional analysis: Asia Pacific accounts for around 40% of the global automotive tappet market led by China, India, Japan and South Korea. This region is expected to maintain its dominance in coming years supported by increasing sales of commercial vehicles. Manufacturers are also shifting their production bases to countries like India to cater to the rising regional demand.
Key players operating in the automotive tappet market are Schaeffler AG (Germany), SKF (Sweden), Eaton (Ireland), Federal-Mogul (U.S.) NSK Ltd. (Japan), Crower Cams & Equipment Company, Inc. (U.S.), COMP Cams. (U.S.), SM Motor Parts GmbH (Germany), lunatipower.com. (U.S.), RANE ENGINE VALVE LIMITED (India), Wuxi Xizhou Machinery Co., Ltd. (China), Yuhuan Huiyu Tappets Co. Ltd (China), RSR Industries (India), and SSV Technocrates. (India)
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