The latest report by IMARC Group, titled “Automotive Tappets Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global automotive tappets market exhibited moderate growth during 2015-2020. An automotive tappet, also known as a cam follower or valve lifter, is a small automotive component installed between the camshaft lobe and the tappet lifting mechanism. The main parts of a tappet include a plunger cavity and spring, compression chamber and barrel, non-return valve, and plunger. They help in transferring motion from one part of the machine to another, particularly in internal-combustion engines. In recent years, the demand for automotive tappets has gained traction as they improve the efficiency, power output, performance and revolution per minute (RPM) of the vehicles.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Automotive Tappets Market Trends:
The market is primarily driven by the increasing demand for and production of automobiles across the globe. In addition, the growing inclination of consumers toward high-efficiency vehicles has prompted manufacturers to launch innovative and improved automotive components in the market. These innovations also include the introduction of hydraulic tappets, which do not require servicing throughout the lifecycle of the engine. Furthermore, automotive tappets are employed in racing cars to function with proper coordination and accurate timing without affecting the engine. Besides this, the inflating manufacturing and labor costs have encouraged roller tappet producers based in the US and Europe to shift their operations to developing countries. On account of these factors, IMARC Group expects the market to grow at a CAGR of around 4% during the forecast period (2021-2026).
- ·On the basis of product, the market has been bifurcated into roller and flat tappets. At present, roller tappets represent the most popular product segment.
- Based on the engine, the market has been segmented into <4, 4–6, and >6 cylinder engines. Amongst these, 4-6 cylinder engines exhibit a clear dominance in the market.
- The report has analyzed the market based on the vehicle type into heavy commercial and light-duty vehicles.
- Based on the end-user, the market has been segregated into economic, luxury and mid-priced passenger cars.
- On the basis of the distribution channel, the market has been categorized as OEM and aftermarket. Currently, the majority of the automotive tappets are distributed through OEM.
- Region-wise, the market is categorized into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
- 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.
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