Jersey City, New Jersey, Nov. 01, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Piston Rings Market” By Product (Gray Cast Iron, Ductile Iron, SAE 9254 Steel, Stainless Steel), By Application (automotive, Passenger Cars, Sports Cars, Two Wheelers), and By Geography. According to Verified Market Research, the Global Piston Rings Market size was valued at USD 1,833.96 Million in 2020 and is projected to reach USD 2,254.11 Million by 2028, growing at a CAGR of 3.69% from 2021 to 2028.
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Browse in-depth TOC on “Piston Rings Market”
202 - Pages
126 – Tables
37 – Figures
Global Piston Rings Market Overview
Piston rings are an essential part of the piston in an ICE engine. They are thin-walled, axially short circular cylinder that is mostly single-piece, slotted, and self-tightening. Piston rings are primarily used to seal the combustion chamber of a 2 stroke or a 4-stroke engine or marine engine. Its numbers and functionality differ based on the capacity or type of engine. For instance, in large 2 stroke engines, compression type piston rings are used to seal the combustion chambers, while on the other hand, marine diesel engines have three or more types of rings mounted on the perimeter of the piston that is similar to high capacity 4 stroke truck engine and utilize oil scraper rings.
The growth of the global piston ring is being driven by its increasing use for engine emission control. The piston rings help in keeping the gas in the tank and prevent it from evaporating as gasoline. The rapid technological advancements along with material advancements in the manufacturing of piston rings have triggered the growth of the global piston rings market. Furthermore, the increasing investment in research and development by manufacturers to develop lightweight products for controlling emission is boosting the growth of the global piston ring market.
However, some restraints are liming the growth of the global piston rings market. The latest trend of engine downsizing is restraining the growth of the global piston rings market. Also, the increasing demand for electric vehicles has negatively influenced the growth of the global Piston Rings Market.
Key Developments
- Mahle announced the acquisition of the air conditioning business of Hitachi Astemo, Ltd in Japan, Thailand, and the USA.
Key Players
The major players in the market are Tenneco Inc., Mahle GmBH TPR Co, Ltd., Riken Corporation among others.
Verified Market Research has segmented the Global Piston Rings Market On the basis of Product, Application, and Geography.
- Piston Rings Market, By Product
- Gray Cast Iron
- Ductile Iron
- SAE 9254 Steel
- Piston Rings Market, By Application
- Passenger Cars
- LCV
- HCV
- SUVs
- ports Cars
- Two Wheelers
- Cranes/Earth Movers
- Generators/Stationary Engines
- Marine Engines
- Piston Rings Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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