According to the market research 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 research methodology used in the report involves primary and secondary sources and follows a bottom-up approach for the purpose of data triangulation. The study involves the country-level OEM and model-wise analysis of automotive tappets market.
The tappet market for automotive is valued at USD 6.90 Billion in 2016 and is projected to reach USD 10.11 Billion by 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.
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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.
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64 - Tables
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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.
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Tappet Market Key Players
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).