Automotive Connecting Rod Market Size, Share & Industry Analysis, By Process Type (Powder Metals, Forged, Cast Rods), By Vehicle Type (Passenger Cars, Commercial Vehicles), By Material (Aluminum, Steel, Others) and Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
The global market players in the engine system and components manufacturing field are continuously working to improve the essential engine components to enhance the performance and driving experience. This development is expected to reduce fuel consumption and emissions. The growing demand for the carbon fiber connecting rod owing to its numerous advantages such as lighter and stronger in the race cars is likely to boost the connecting rod market. The stringent government emission regulation is leading to a rise in technological advancement in the engine components. The downsizing of the engine leads to lower fuel consumption and even lower emission of the vehicle. For example, FEV Group GmbH and Hilite International GmbH are collaborating to develop a new two-stage variable compression ratio (VCR) connecting rod. This rod meets the challenges of downsizing and also considerably reduces exhaust emissions and CO2 in operation. Such factors are expected to drive the connecting rod market over the forecast period.
Key Market Driver -
The demand for the internal combustion engine is expected to drive the market.
Key Market Restraint -
The increasing adoption of the electric vehicles is expected to be restrain for the market’s growth.
The increasing sales and production of passenger cars, coupled with rising expenditure power of the individuals in developing countries, are likely to drive the market. The government’s incentives and subsidies are expected to propel the adoption of electric vehicles and expected to restrain the growth of the connecting rod market over the forecast period.
Key Players Covered in the Automotive Connecting Rod Market:
The major players that are present in the global automotive connecting rod market include Albon Engineering & Manufacturing Plc., Cummins Inc., MAHLE GmbH, JD Norman Industries, Nangong Jingqiang Connecting Rod Co. Ltd., MGP Connecting Rods, CP-Carillo, Hilite International GmbH, among others.
Globally connecting rod market has been segmented on the basis of process type, vehicle type, material, and by region. Based on process type, further, the market has been segmented as a powder metal, forged, and cast rods. The cast rods segment is expected to dominate the market over the forecast period owing to higher usage in the gasoline and diesel engines. The powder metals segment is also expected to show good growth in the market over the forecast period.
Based on the vehicle type, the market is segmented into passenger cars and commercial vehicles. The passenger car segment is anticipated to dominate the market over the forecast period owing to increasing sales and production in the developing countries. The commercial vehicle segment is also expected to show good growth in the market over the forecast period.
By material type, further, the market has been segmented into aluminum, steel, and others. The aluminum segment is expected to dominate the market over the forecast period owing to its greater tensile strength and performance to high temperature and pressure.
Regional Analysis:
The market has been segmented into North America, Europe, Asia Pacific and the rest of the world. Asia Pacific is expected to dominate the market during the forecast period owing to the ease of availability of labor and raw material at a lower cost in this region for the production of components. The rising production and sales in developing countries such as China and India are also likely to drive the market over the forecast period.
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North America is also expected to show good growth in the market over the forecast period. Europe is expected to have sluggish growth in the connecting rod market over the forecast period. The OEMs in this region are investing in research and development of the new product to curb air pollution caused by vehicle emission.
Segmentation
ATTRIBUTE | DETAILS |
By Process Type |
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By Vehicle Type |
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By Material |
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By Region |
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Key Industry Developments
- January 2018: JD Norman Industries, Inc. acquired REGE Motorenteile GmbH. This acquisition will offer customers a wider and stronger portfolio of services including tehcnologies, enhanced product, and manufacturing plant positions.
- Ongoing
- 2023
- 2019-2022
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