The automotive tappet global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Tappet Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automotive tappet market size has grown steadily in recent years. It will grow from $8.55 billion in 2023 to $8.95 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to growing adoption of hydraulic flat tapper camshaft (HFTC), rising demand for flat-tappet, rising hybrid vehicles, rising battery-powered vehicles, and rising demand for automobiles.
The automotive tappet market size is expected to see strong growth in the next few years. It will grow to $10.89 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to increasing sales of passenger vehicles, increasing sales of commercial vehicles, increasing demand for electric vehicles, increasing demand for fuel-efficient vehicles, and growing aftermarket opportunities. Major trends in the forecast period include adoption of variable valve timing (VVT) systems, advancements in lubricant technology, development of cleaner technologies, technological advancements in hydraulic flat tapper camshaft (HFTC), and developing engines.
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Scope Of Automotive Tappet Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automotive Tappet Market Overview
Market Drivers –
The increasing sales of passenger vehicles are expected to propel the growth of the automotive tappet market going forward. Passenger vehicles are motor vehicles that include cars, SUVs, minivans, and other similar vehicles primarily used for personal transportation or carrying small groups of people with a capacity of 8 or fewer passengers, excluding the driver. The increasing sales of passenger vehicles are due to improved financing options, urbanization, vehicle technology advancements, and new models with better fuel efficiency and safety features. Automotive tappets improve engine performance and fuel efficiency, leading to a smoother, more powerful driving experience that enhances vehicle appeal, attracting buyers and boosting sales of passenger vehicles. For instance, in April 2024, according to Automotive Statistics, a Canada-based agency, in 2022, there were 26.3 million registered road motor vehicles in Canada, a 0.3% increase from 2021. Therefore, the increasing sales of passenger vehicles drive the automotive tappet market.
Market Trends –
Major companies operating in the automotive tappet market are investing in manufacturing facilities to provide high-quality, precision-engineered tappets that meet stringent performance and durability standards, ensuring optimal engine efficiency and longevity. The new facility would produce products with cutting-edge technology featuring Schaeffler-designed and manufactured tools and equipment. For instance, in February 2024, Schaeffler, a Germany-based company that manufactures automotive tappets, invested $230 million in the new greenfield facility, which will be strategically located in Dover, Ohio. The new facility will create approximately 450 job opportunities by 2032 and will feature state-of-the-art production processes for electric axles for light and medium-duty vehicles. Beyond innovation, sustainability is a core focus, with the facility incorporating eco-friendly practices to align with Schaeffler’s commitment to environmental responsibility and being climate-neutral by 2040.
The automotive tappet market covered in this report is segmented –
1) By Product: Flat Tappet, Roller Tappet
2) By Engine Capacity Analysis: <4 Cylinder Engine, 4-6 Cylinder, >6 Cylinder
3) By Material: Steel, Aluminum
4) By Vehicle: Heavy Commercial Vehicle, Light Duty Vehicle
5) By Distribution Channel: Original Equipment Manufacturer, After market
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Regional Insights –
Asia-Pacific was the largest region in the Automotive Tappet market in 2023. The regions covered in the automotive tappet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the automotive tappet market are Delphi Technologies PLC, Robert Bosch GmbH, Denso Corporation, Continental AG, Aisin Seiki Co. Ltd., Eaton Corporation PLC, Tenneco, Schaeffler AG, Otics Corporation, MAHLE GmbH, Dana Incorporated, AB SKF, NSK Ltd., Federal-Mogul Corporation, Rheinmetall Automotive AG, Melling Industries, Elgin Industries, Yuhuan Huiyu Tappets Co. Ltd., Crower Cams & Equipment Co., SSV Valves, Cloyes Gear and Products Inc., Howards Cams, Dura-Bond Bearing Company, SM Motorenteile GmbH
Table of Contents
1. Executive Summary
2. Automotive Tappet Market Report Structure
3. Automotive Tappet Market Trends And Strategies
4. Automotive Tappet Market – Macro Economic Scenario
5. Automotive Tappet Market Size And Growth
…..
27. Automotive Tappet Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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