ID: MRFR/AM/4191-HCR | 100 Pages | Published By Swapnil Palwe on March 2023
Automotive Connecting Rod Market Size is expected to cross USD $57.87 Million by 2027 at a CAGR of 4% during the forecast period 2022-2030
Automotive connecting rod market has seen remarkable growth in the global market and it is observed that its demand in the future is expected to grow with the CAGR of ~4%.Automotive Connecting Rods are rods that are used for connecting the piston to the crank or crankshaft in a reciprocating piston engine. The automotive connecting rods have to pass quality checks before their supply to clients.
The use of advanced materials such as fracture-split forged steel leads to an increase in the life of connecting rods. The developments for increasing the efficiency and strength of connecting rods is showing significant opportunities for new product development. The connecting rod is a key engine component that affects the weight of the crank train. Therefore measures must be taken for reducing their weight and improving the mechanical efficiency of the engine. As the connecting rods do not require regular replacements, they help in reducing the overall maintenance cost of the automotive. The other factors contributing in the growth of the market are the boom in the automotive industry, the increased use of advanced coating, the use of carbon fiber connecting rods in racing cars, and the increase in demand for internal combustion engines.
The global automotive connecting rods market is expected to experience significant growth opportunities with the assembly of carbon fiber connecting rods in racing cars. The rise in demand for sports cars is increasing the use of carbon fiber connecting rods for making the cars lighter and stronger.
The market is witnessing challenges with the need for engine downsizing that is reducing the size of the engine and simultaneously delivering power equivalent to the larger engine by adding devices, such as a turbocharger, supercharger or by integrating direct fuel injection technology. Engine downsizing helps improve the fuel efficiency of vehicle and reducing the overall carbon emission. The prominent players in the Automotive Connecting Rod Market include Wossner Pistons (U.S.), Wiseco Piston Company Inc.(U.S.), Nangong Jingqiang Connecting Rod Co., Ltd (China), Pauter Machine (U.S.), Albon Engineering & Manufacturing Plc (U.K.), and Tianrun Crankshaft Co., Ltd. (China). JD Norman Industries, Inc. (U.S.), CP-Carrillo (U.S.), Power Industries (India), Arrow Precision Engineering, Ltd. (U.K.), Mahle GmbH (Germany) , Magal Engineering Ltd. (U.K.), Robson Engineering (U.K.), Yasunaga Corporation (Japan), Cummins, Inc. (U.S.), and Linamar Corporation (Canada) are among others.
Based on vehicle type, the market is segmented as passenger cars and commercial vehicles. Among these, passenger car segment dominates the global automotive connecting rod market. Passenger cars comprise four, six or eight cylinders. The cars equipped with four cylinders engine majorly deploy the automotive passenger car connecting rod. Manufacturers focus on improvement of connecting rods which are related to surface finishing, weight, and the ability to withstand high temperatures.
Geographically, the global automotive connecting rod market has been divided into four major regions such as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific will dominate the automotive connecting rod market throughout the forecast period. The economic growth of the developing countries such as China and India are triggering the growth of the market. The increase in investment in industrialization and infrastructure is leading to an increased demand for vehicles, which is in turn driving the growth of the connecting rod material market.
|Market Size||2030 : Significant Value|
|CAGR||4% CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material, Process Type and Vehicle Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Wossner Pistons (U.S.), Wiseco Piston Company Inc.(U.S.), Nangong Jingqiang Connecting Rod Co., Ltd (China), Pauter Machine (U.S.), Albon Engineering & Manufacturing Plc (U.K.), and Tianrun Crankshaft Co., Ltd. (China). JD Norman Industries, Inc. (U.S.), CP-Carrillo (U.S.), Power Industries (India), Arrow Precision Engineering, Ltd. (U.K.), Mahle GmbH (Germany) , Magal Engineering Ltd. (U.K.), Robson Engineering (U.K.), Yasunaga Corporation (Japan), Cummins, Inc. (U.S.), and Linamar Corporation (Canada)|
|Key Market Opportunities||Increase in the life of connecting rods|
|Key Market Drivers||
The global automotive connecting rod market is maturing at a whopping 4% CAGR over the review period of 2022 to 2030.
A few significant players of the global automotive connecting rod market are Robson Engineering (U.K.), Cummins, Inc. (U.S.), Yasunaga Corporation (Japan), and Linamar Corporation (Canada) are among others.
The aluminum segment is expected to drive market growth over the review period.
The growing demand for internal combustion engines, along with the increasing adoption of advanced coating is subsequently driving the automotive connecting rod market growth.
The commercial vehicles segment is likely to witness the highest demand in the automotive connecting rod market.