Automotive Connecting Rod Market Share 2022 Industry Outlook, Size, Share, Business Strategies, Driving Factors by Manufacturers, Demand Analysis Forecast 2030
Research Reports
Mar 28, 2022
Automotive Connecting Rod Market Summary
According to Market Research Future (MRFR), the Global Automotive Connecting Rod Market is projected to register a CAGR of 4% from the forecast period. The research report offers a brief overview of the influence of COVID-19 on current/future market situations. The report explains some of the key market factors that will influence the growth of this sector, such as market share, the main region, and key players.
Automotive connecting rods are rods used to connect the piston to a crank or crankshaft in a reciprocating piston engine. Automotive connecting rods must pass quality checks before their supply to clients.
Various factors are propelling the global automotive connecting rod market share. According to the recent MRFR report, such factors include the growing demand for sports cars, rising concerns to lower carbon dioxide emission results, increasing use of connecting rods made of titanium in the automobile industry, and the use of advanced coating. Additional factors adding market growth include the increasing use of carbon-fiber connecting rods in race cars, the use of high-strength steel rods, growing production & sales of cars, incessant rise in demand for engines, and people’s increasing purchasing power.
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On the contrary, the high price of titanium connecting rods and shortage of supply due to the COVID-19 impact may limit the global automotive connecting rod market growth over the forecast period.
Key Players
Eminent contenders profiled in the global automotive connecting rod market report include Linamar Corporation (Canada), Cummins, Inc. (U.S.), Yasunaga Corporation (Japan), Robson Engineering (U.K.), Magal Engineering Ltd. (U.K.), Mahle GmbH (Germany) , Arrow Precision Engineering, Ltd. (U.K.), Power Industries (India), CP-Carrillo (U.S.), JD Norman Industries, Inc. (U.S.), Tianrun Crankshaft Co., Ltd. (China), Albon Engineering & Manufacturing Plc (U.K.), Pauter Machine (U.S.), Nangong Jingqiang Connecting Rod Co., Ltd (China), Wiseco Piston Company Inc.(U.S.), and Wossner Pistons (U.S.). Industry players have incorporated strategies such as acquisitions, mergers, new product launches, and others to stay at the forefront.
Automotive Connecting Rod Market Dynamics
The use of advanced materials like fracture-split forged steel leads to an increase in the life of the connecting rods. Developments to increase the efficiency and strength of connecting rods show significant opportunities for new product development. The connecting rod is a crucial component of the engine that affects the weight of the crank train. Measures must, therefore, be taken to reduce their weight and improve the mechanical efficiency of the engine. As connecting rods do not require regular replacements, they help reduce the overall maintenance costs of the automotive.
Other factors propelling the market’s growth are the boom in the automotive industry, the increased use of advanced coatings, the use of carbon fiber connecting rods in racing cars, and the increase in demand for internal combustion engines.
The global market for automotive connecting rods is projected to experience vital growth opportunities with the assembly of carbon fiber connecting rods in racing cars. The increase in demand for sports cars is increasing the use of carbon fiber connecting rods to make cars lighter and more robust.
The market is experiencing challenges with the need for engine downsizing that reduces the engine’s size and simultaneously delivers power equivalent to the larger engine by adding devices such as a turbocharger, a supercharger, or by integrating direct fuel injection technology. Engine downsizing helps enhance the fuel efficiency of the vehicle and reduce overall carbon emissions.
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Automotive Connecting Rod Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global automotive connecting rod market based on vehicle type, material, and process type.
By vehicle type, the global automotive connecting rod market is segmented into commercial vehicles and passenger cars. Of these, the passenger cars segment will lead the market over the forecast period.
By material, the global automotive connecting rod market is segmented into aluminium, steel, and others. Of these, the aluminium material segment will dominate the market over the forecast period.
By process type, the global automotive connecting rod market is segmented into powder metals, cast rods, and forged.
Regional Analysis
Based on the region, the global automotive connecting rod market report covers the recent trends and growth opportunities across the Asia Pacific (APAC), North America, Europe, and the Rest of the World (RoW). Of these, the APAC region will command the largest share in the market over the forecast period. Economic development in China and India, growing investment in infrastructure and industrialization, increased automobile production, growing sales and manufacturing of automobiles, rapid urbanization, and rising disposable income are adding to the global automotive connecting rod market growth in the region.
The global automotive connecting rod market in North America is predicted to have healthy growth over the forecast period. The presence of notabe market players and the presence of major automobile markets are adding to the global automotive connecting rod market growth in the region.
The global automotive connecting rod market in Europe is predicted to have sound growth over the forecast period. The booming automobile industry is adding to the global automotive connecting rod market growth in the region.
The global automotive connecting rod market in the RoW is predicted to have steady growth over the forecast period.
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