Global Automotive Tappets Market to Reach US$ 11.1 Billion by 2028, Stimulated by Rising Demand for Automobiles

August 29, 2023 | Automotive Industry

According to the latest report by IMARC Group, titled “Automotive Tappets Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global automotive tappets market size reached US$ 8.8 Billion in 2022. Automotive tappets are essential components in the internal combustion engines of vehicles. They play a crucial role in the valve train system, which controls the opening and closing of intake and exhaust valves. They are typically small cylindrical parts that sit between the camshaft lobes and the engine's valves. As the camshaft rotates, its lobes lift the tappets, which, in turn, push against the valves, allowing fuel-air mixture intake and exhaust gas expulsion in synchronization with the engine's cycle. These components are usually manufactured from materials with high wear resistance, such as hardened steel and ceramics. Their design and manufacturing precision are critical to ensuring smooth operation and minimizing friction within the engine, enhancing performance, and prolonging engine life.

Global Automotive Tappets Market Trends:

Significant growth in the automobile industry is driving the global market. As the automotive industry expands to meet rising consumer demand, the demand for engine components, including tappets, also increases. Moreover, the introduction of stringent emission norms and the quest for better fuel efficiency are compelling automotive manufacturers to optimize engine performance, further propelling the need for high-quality tappets. Besides, continual advancements in material science and manufacturing processes have led to the development of advanced tappets that offer enhanced durability, reduced friction, and improved performance. Automotive companies are increasingly adopting these technologically superior tappets to achieve better engine efficiency and comply with environmental regulations, thus providing a boost to the market. Furthermore, the growing demand for electric Vehicles is also supporting the market since EVs use electric motors, eliminating the need for traditional tappets. Looking forward, the market value is projected to reach US$ 11.1 Billion by 2028, expanding at a CAGR of 4.1% during 2023-2028.

Market Summary:

Based on the product, the market has been segmented into roller and flat tappets. Currently, flat tappets represent the largest market segment.
On the basis of the engines, the market has been divided into <4, 4–6, and >6 cylinders engines. Among these, 4-6 cylinders engines exhibit a clear dominance in the market.
Based on the vehicle type, the market has been bifurcated into heavy commercial and light-duty vehicles. Among these, light-duty vehicles account for the largest market share.
On the basis of the end user, the market has been divided into economic, luxury and mid-priced passenger cars. Among these, luxury passenger cars exhibit a clear dominance in the market.
Based on the distribution channel, the market has been segmented into OEM and aftermarket. Among these, OEM exhibits a clear dominance in the market.
Region-wise, the market has been segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America. Among these, Asia Pacific holds the leading position in the market.
The competitive landscape of the market has also been examined, with some of the key players being 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.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Product, Engine, Vehicle Type, End-User, Distribution Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	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
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Global Automotive Tappets Market to Reach US$ 11.1 Billion by 2028, Stimulated by Rising Demand for Automobiles

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