Dublin, Aug. 31, 2023 (GLOBE NEWSWIRE) -- The "Global Tappet Market (2023-2028) by Product Type, Vehicle Type, Engine Capacity, End User, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The global Tappet market is poised for robust expansion, with an estimated value of USD 8.63 billion in 2023, projected to reach USD 10.75 billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 4.49% during the forecast period.
Market Overview
Tappets, also known as cam followers, play a crucial role in internal combustion engines by converting camshaft rotational motion into vertical movement to control the opening and closing of engine valves. This precise valve timing impacts engine performance, efficiency, and power generation.
Market Dynamics
Increased consumer interest in high-performance automobiles is driving the demand for enhanced engine components like tappets. High-performance vehicles require resilient engine parts like tappets to withstand higher loads while optimizing power production. To cater to this demand, manufacturers are developing innovative tappet solutions, contributing to market growth.
The industrial sector's growth is also contributing to tappet demand, as sturdy and reliable machinery is required. Tappets find applications in various industrial equipment, including construction machinery, generators, and agricultural gear, where precise valve movement ensures efficient engine operation.
Market Segmentations
The market is segmented based on Product Type (Flat Tappet, Roller Tappet), Vehicle Type (Heavy Commercial Vehicle, Light Duty Vehicle), Engine Capacity (< 4 Cylinder, 4-6 Cylinder, > 6 Cylinder), and End User (Economic Passenger Cars, Luxury Passenger Cars, Mid-Priced Passenger Cars).
Roller tappets dominate the market due to their superior performance and durability, reducing friction and wear, enhancing engine efficiency and lifespan. In terms of vehicle type, Light Duty Vehicles (LDVs) hold a significant market share, given their higher sales volume. Among engine capacity categories, 4-6 cylinder engines are preferred for their balance between performance and fuel efficiency. Mid-priced passenger cars lead the end-user segment due to their broad appeal.
Recent Developments
Recent developments include Melling's acquisition of Sigma Engineering and Eaton's acquisition of Royal Power Solutions, indicating industry players' efforts to strengthen their position and expand capabilities.
Conclusion
The global Tappet market is primed for growth, driven by factors like the demand for high-performance vehicles, increasing industrial applications, and the pursuit of improved vehicle efficiency. While challenges exist, such as fluctuations in the automotive sector and the rise of alternative fuel engines, opportunities arise from technological advancements and the quest for optimal engine performance.
Companies Mentioned
- AB SKF
- ACDelco Corp.
- Bon Exports
- Competition Cams, Inc.
- Crower Cams & Equipment Company, Inc.
- Eaton Corp.
- Federal-Mogul Corp.
- GT Technologies
- Jinan Hongjitang Pharmaceutical Co., Ltd.
- Lunati cams Inc.
- Melling Manufacturing Group
- NSK Ltd.
- OTICS Corp.
- Rane Engine Valve Ltd.
- Riken Corp.
- RSR Industries
- Schaeffler Ag
- SM Motorenteile GmbH
- SSV Technocrates
- TRW Automotive Holdings Corp.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 186 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $8.63 Billion |
| Forecasted Market Value (USD) by 2028 | $10.75 Billion |
| Compound Annual Growth Rate | 4.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/mctqmb
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
