Tappet Market for Automotive worth 10.11 Billion USD by 2025
Tappet Market for Automotive categorizes the Global Market by Engine Capacity (<4 cylinders, 4-6 cylinders, and >6 cylinders), Type (Flat, and Roller), End User (Economic, Mid-priced, and Luxury passenger cars), and Region
The report "Tappet Market for Automotive by Type (Flat, and Roller), End User (Economic, Mid-priced, and Luxury passenger cars), Engine Capacity (<4 cylinders, 4-6 cylinders, and >6 cylinders), Vehicle Type, and Region - Global Forecast to 2025"
The tappet market for automotive is projected to grow at a CAGR of 3.36% during the forecast period, from USD 7.77 Billion in 2017 to USD 10.11 Billion by 2025.
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Browse 64 market data Tables and 45 Figures spread through 121 Pages and in-depth TOC on "Tappet Market for Automotive by Type (Flat, and Roller), End User (Economic, Mid-priced, and Luxury passenger cars), Engine Capacity (<4 cylinders, 4-6 cylinders, and >6 cylinders), Vehicle Type, and Region - Global Forecast to 2025"
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The key factor driving the growth of the tappet market for automotive is an increase in passenger vehicles production. Also, the growth of the commercial vehicles segment, which can be attributed to the improving business environment for fleet operators and a rise in demand from the construction and mining sectors, drives the growth of the automotive tappet market.
The flat tappets segment is estimated to be the largest segment in the Tappet Market for Automotive
The flat tappets segment is estimated to have the largest share in the tappet market for automotive. The flat tappet is widely used in economic and mid-priced vehicles as well as commercial vehicles because of its cost-effectiveness and fuel-efficient characteristics. However, this market is projected to decline after 2022 because of the increasing adoption of battery electric vehicles, which do not have valves and tappets in their assembly.
<4 cylinders segment is estimated to be the fastest growing segment in the Tappet Market for Automotive
Stringent emission norms and growing trend of engine downsizing are propelling the growth of <4 cylinders segment of the global tappet market for automotive. The increasing number of economic priced vehicles is also fueling the growth of this segment as vehicles mostly use < 4 cylinders owing to their cost constraints.
Asia Pacific: Largest region in Tappets Market for Automotive
Asia Pacific is estimated to be the largest and fastest growing market for automotive tappets, in terms of volume and value. The Asia Pacific region is estimated to be the most promising market for automotive tappet in the next five years. This region, which is known for small and cost-effective cars, has witnessed higher growth than the matured markets of Europe and North America. The market growth can be attributed to the low production cost and easy availability of cheap labor in the region. The rise in automotive production is positively impacting the automotive tappet market in the region.
North America is estimated to be the second largest market for automotive tappets. This region comprises developed countries such as Canada, US, and Mexico. A large number of light and heavy commercial vehicles and growing demand for high-performance vehicles are driving the growth of automotive tappets in the region.
The report covers all the major players in the tappet market for automotive including Schaeffler (Germany), SKF (Sweden), Eaton (Ireland), Federal-Mogul (US), and NSK (Japan).
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