Dublin, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The "Automotive Tappets Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global automotive tappets market, which reached a size of US$ 8.8 billion in 2022, is poised for steady growth in the coming years. Analysts project the market to expand to US$ 11.1 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 4.1% during the period from 2023 to 2028.
Automotive tappets, also known as valve lifters or cam followers, are small components used in engines to facilitate the vertical motion needed to lift engine valves. These tappets play a crucial role in enhancing power output, efficiency, performance, and engine revolutions per minute (RPM). They are particularly essential in racing cars and high-performance vehicles where precise timing and coordination of engine components are vital.
Key Market Trends Driving Growth
- Rising Automobile Demand: Increasing demand for automobiles and growing production volumes are primary drivers of market growth.
- Consumer Preference for High-Performance Vehicles: Consumers are increasingly inclined towards vehicles that offer improved efficiency and power output, leading to greater demand for automotive tappets.
- Enhanced Engine Performance: Automotive tappets contribute to performance improvements by varying valve timings and durations while the engine is in operation.
- Innovative Technologies: Manufacturers are adopting innovative technologies and methods to produce Hydraulic Flat Tappet Camshafts (HFTCs) to meet fuel efficiency demands for high-performance vehicles.
- Lubricant Technology: Innovations in lubricant technology are also contributing to engine durability and overall performance, driving the demand for automotive tappets.
Market Segmentation
The global automotive tappets market is segmented based on product, engine, vehicle type, end-user, distribution channel, and region:
Product:
- Roller Tappets
- Flat Tappets
Engine:
- Less than 4 Cylinders Engine
- 4-6 Cylinders Engine
- More than 6 Cylinders Engine
Vehicle Type:
- Heavy Commercial Vehicles
- Light Duty Vehicles
End-User:
- Economic Passenger Cars
- Luxury Passenger Cars
- Mid-Priced Passenger Cars
Distribution Channel:
- OEM (Original Equipment Manufacturer)
- Aftermarket
Regions:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Competitive Landscape
The report offers a comprehensive analysis of the competitive landscape, featuring key market players such as Schaeffler AG, SKF Group, Crower Cams & Equipment Co., Inc., Federal-Mogul Corporation (Tenneco, Inc.), Lunati LLC, SM Motorenteile GmbH, Yuhuan Huiyu Tappets Co., Ltd., Eaton Corporation plc, Competition Cams, Inc., Rane Holdings Limited, Wuxi Xizhou Machinery Co., Ltd., NSK Ltd., SSV Valve, and RSR Industries.
Key Questions Addressed in the Report
- How has the global automotive tappets market performed thus far, and what is its expected performance in the coming years?
- What are the key regional markets in the global automotive tappets industry?
- What impact has COVID-19 had on the global automotive tappets industry?
- What is the market share based on product, engine, vehicle type, end-user, and distribution channel?
- What are the primary drivers and challenges affecting the industry's growth?
- Who are the major players in the global automotive tappets market, and what is their competitive positioning?
- What is the level of competition in the global automotive tappets industry?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $8.8 Billion |
| Forecasted Market Value (USD) by 2028 | $11.1 Billion |
| Compound Annual Growth Rate | 3.9% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/aci6qs
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