Covid-19 (CoronaVirus) Impact on Automotive Connecting Rod Industry by Material (Steel, Aluminum, Others), Process Type (Forged, cast rods, powder metals), Vehicle Type (Passenger cars, Commercial vehicles), and Region - Forecast To 2023
— The global automotive connecting rod market has seen remarkable growth on the global market, and its demand is expected to increase with the CAGR of 4% in the review period.
The key players in the Automotive Connecting Rod Market include Wiseco Piston Company Inc.(U.S.), Wossner Pistons (U.S.), Nangong Jingqiang Connecting Rod Co., Ltd (China), Albon Engineering & Manufacturing Plc (U.K.), Pauter Machine (U.S.), and Tianrun Crankshaft Co., Ltd. (China). CP-Carrillo (U.S.), JD Norman Industries, Inc. (U.S.), Power Industries (India), Mahle GmbH (Germany) , Arrow Precision Engineering, Ltd. (U.K.), Magal Engineering Ltd. (U.K.), Yasunaga Corporation (Japan), Robson Engineering (U.K.), and Linamar Corporation (Canada) Cummins, Inc. (U.S.), are among others.
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The developing countries are witnessing a steady demand for an internal combustion engine ( ICE), which drives the global market for automotive connecting rods. Factors such as excellent drivability and engine stability further drive the demand for the connecting rods. The use of specialized technologies such as cast steel fracture-split leads to an increase in the life of the connecting points. The innovations to increase the performance and strength of the connecting rods indicate major prospects for the production of new goods. The connecting rod is a key component of the engine which affects the crank train weight. Steps must also be taken to reduce its weight and increase the engine's mechanical performance. Because the connecting rods do not need frequent repairs, they tend to reduce the overall cost of the vehicle repair. Other factors leading to consumer development are the boom in the automobile industry, growing use of advanced packaging, the use of carbon fiber connecting rods in road cars and increasing demand for internal combustion engines.
With the assembly of carbon fiber connecting rods in racing cars the global automotive connecting rod market is slated to experience significant growth opportunities. The growing in demand for sports cars is rising the use of carbon fiber connection rods for making the vehicles lighter and heavier. Therefore, the increasing demand for Steel, due to rise in concerns for lowering carbon dioxide emissions results in the development of the global automotive connecting rod industry.
The market is also expected to see prospects for growth over the projected period due to factors such as the use of titanium connecting rod in the automobile industry, the use of advanced coating, the use of carbon fiber connecting rods in race cars and the use of high-strength steel rods.
The industry is facing problems with the need for engine downsizing, which lowers the engine capacity and at the same time provides power equal to the larger engine by incorporating devices such as a turbocharger, supercharger or by implementing direct fuel injection technology. Downsizing engines help increase automotive fuel efficiency and reduce total carbon emissions.
Based on vehicle type, the market is bifrucated as passenger cars and commercial vehicles. Among these, passenger car segment dominates the global automotive connecting rod market.
By material, the market has been divided into steel, aluminium, and others.
By process type, the market has been segmented into forged, cast rods, and powder metals.
The global automobile connecting rod industry has been geographically split into four main areas, such as North America , Europe , Asia Pacific and the rest of the world. During the forecast period Asia Pacific will dominate the automotive connecting rod market. The developed countries such as China and India's economic development is causing demand expansion. Growing investment in industrialization and infrastructure contributes to increased automobile production, which in turn fuels the development of the market for connecting rod materials.
Scope of Report
The report for Global Automotive Connecting Rod Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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