Piston Ring Aftermarket

Piston Ring Aftermarket Study by Compression and Oil Ring Made from Grey Cast Iron and Chromium Steel for Passenger Cars, LCVs, HCVs, and Two-wheelers from 2024 to 2034

Analysis of Piston Ring Aftermarket Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Piston Ring Aftermarket Outlook (2024 to 2034)

The global piston ring aftermarket size is projected to increase from a size of US$ 2.81 billion in 2024 to US$ 4.5 billion by the end of 2034, which amounts to expansion at a CAGR of 4.8% over the next ten years.

Piston rings are found in small engines, such as the compression, wiper, and oil rings. The piston ring that fits in the ring groove closest to the piston head is known as a compression ring. During combustion, the compression ring prevents leaks from entering the combustion chamber. Combustion gases exert pressure on the piston head when the air-fuel mixture is ignited. This pushes the piston in the direction of the crankshaft.

Performance of the automotive industry is directly linked to the demand for piston rings, which are essential components of internal combustion engines. Demand for piston rings is projected to rise gradually as the automotive industry expands due to increasing sales of cars and technological advancements in the industry.

Key Market Growth Drivers

  • One of the primary drivers for the expansion of the piston ring aftermarket size is the growth of the automotive industry across the world.
  • Demand for passenger and commercial vehicles is continuously rising, due to which the need for piston rings is also on an upward trend as they are key engine components in vehicles.
  • Authorities are also promoting domestic manufacturers under various initiatives, which is driving the demand for automotive components like piston rings.
  • Domestic manufacturers are also investing in advanced machinery and the latest technologies to meet the demand from the growing automotive sector.
  • While electric vehicles (EVs) have fewer engine components, some hybrid and range extender vehicles still require piston rings, supporting the demand for these products in the market.
  • Piston rings that reduce friction, maximize combustion, and improve engine performance are being developed as automotive manufacturers are implementing cutting-edge technologies to lower greenhouse gas emissions due to strict emission standards and regulations.
  • Governments across the globe are setting emission standards to lower the rate of gas evaporation into the atmosphere. This is projected to contribute to the demand for steel piston rings.
Report Attributes Details
Piston Ring Aftermarket Size (2024E) US$ 2.81 Billion
Forecasted Market Value (2034F) US$ 4.5 Billion
Global Market Growth Rate (2024 to 2034) 4.8% CAGR
East Asia Market Share (2024E) 43.7%
North America Market Share (2024E) 27.8%
Sales of Cast Iron Piston Rings (2024E) US$ 1.53 Billion
Key Companies Profiled
  • Grover Corporation
  • Riken Corporation
  • Cook Compression
  • Kolbenring India
  • Federal-Mogul LLC
  • MAHLE Aftermarket GmbH
  • Nippon Piston Rings Co. Ltd.
  • Hastings Manufacturing Company, LLC
  • Nanjing Fayn Piston Rings Co., Ltd.
  • IP Rings Limited

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Which Key Piston Ring Aftermarket Trends are Manufacturers Leveraging?

“Quest for Longer Lifespan of Automobiles and Industrial Machinery Driving Demand for Spare Parts”

Demand for spare parts, such as piston rings, is growing due to the longer lifespan of automobiles and industrial machinery. The need for maintenance and repairs is increasing with the use of these machines, thus driving aftermarket sales.

Aftermarket piston rings are reasonably priced without affecting quality, and they are a desired option for consumers with limited funds. There is an increasing demand for particular piston ring designs that can withstand higher temperatures and pressures as a result of the automotive industry's transition to smaller, more fuel-efficient engines, which are frequently fitted with turbochargers. In response to this need, aftermarket manufacturers have created high-performance piston rings that are engine configuration-specific.

What are the Obstacles Impeding Market Growth?

“Heavy Dependency on Grey Cast Iron and Minimal Technological Advancements”

Grey cast iron remains a popular material choice for piston rings due to its compatibility with cylinder bores and low scuffing. However, as engines get more advanced, they have smaller displacements and can handle heavier loads. Therefore, there is a growing need for stronger materials. Cost, friction reduction, and durability must be balanced. The rings, particularly the top compression rings, are thinner to withstand heavy loads. Manufacturers need to balance the strength and performance of the material.

In the aftermarket, limited technological advancements at regular intervals are common. Manufacturers need to adapt to evolving emission regulations, engine designs, and vehicle technologies to meet the needs of customers.

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Country-wise Insights

The market in East Asia is projected to expand at 5.9% CAGR over the decade. Rising demand for piston rings in Europe and North America, against a backdrop of a massive automobile fleet, is driving piston ring aftermarket growth.

How is the Piston Ring Aftermarket Faring in the United States?

“Constantly Increasing Production of Commercial and Passenger Vehicles”

Attribute United States
Market Value (2024E) US$ 581.1 Million
Growth Rate (2024 to 2034) 4% CAGR
Projected Value (2034F) US$ 860.4 Million

Besides increasing demand for both commercial and passenger vehicles in the United States, growing industrialization in the country is also significantly contributing to increased aftermarket sales of piston rings. Key players on the aftermarket, which includes prominent OEMs as well, are investing heavily in manufacturing and supply chain management.

Why China is Witnessing Significant Increase in Sales of Piston Rings?

“High Sales of Car, Need for Maintenance, and Upgraded Engines”

Attribute China
Market Value (2024E) US$ 759 Million
Growth Rate (2024 to 2034) 5.8% CAGR
Projected Value (2034F) US$ 1.33 Billion

The market for piston rings in China is growing steadily and is in transformation. Piston ring demand is being pushed by factors such as high vehicle production rates, technological advancements, and easy availability of raw materials for production. The government plays a huge role in the success of the country’s automobile sector. With production increasing substantially every years, backed by increasing domestic sales as well as exports, the aftermarket for piston rings is also growing in parallel.

Category-wise Insights

Grey cast iron holds 55% of the piston ring aftermarket share, and steel accounts for 45% share by material. In terms of vehicle category, the passenger vehicle segment accounts for 64% market share.

What is the Reason Behind High Aftermarket Sales of Grey Cast Iron Piston Rings?

“Widespread Use of Grey Cast Iron Piston Rings Due to Their Affordability”

Attribute Grey Cast Iron
Segment Value (2024E) US$ 1.53 Billion
Growth Rate (2024 to 2034) 5.3% CAGR
Projected Value (2034F) US$ 2.57 Billion

Cast iron rings operate well with a variety of cylinder bore materials. Because of their adaptability, manufacturers can utilize them in a variety of engines. Cast iron exhibits superior strength and durability, making it the perfect choice for the demanding conditions within an engine cylinder. It can also deal with fluctuations in temperature and pressure. When compared to certain other materials, cast iron is more affordable. Its use in piston rings is driven by because of its affordability.

How Does Urban Commute Influence Piston Ring Aftermarket Sales for Passenger Cars?

“Increased Susceptibility of Piston Rings to Wear and Tear During Daily Urban Commute”

Attribute Passenger Vehicles
Segment Value (2024E) US$ 1.79 Billion
Growth Rate (2024 to 2034) 5.6% CAGR
Projected Value (2034F) US$ 3.08 Billion

Passenger cars outnumber commercial vehicles on the road, which raises the need for replacement parts such as piston rings. As passenger vehicles are used for daily commutes, their engines are subjected to increased wear and tear.

Personal vehicles offer comfort, flexibility, and ease of use. Passenger cars are becoming more popular as living standards rise in developing countries. Due to stop-and-go traffic, frequent halts, and heavy congestion in urban areas, engine parts are subjected to additional strain in these conditions, which necessitates frequent replacements.

Know thy Competitors

Competitive landscape highlights only certain players
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Competitive Landscape

Key players in the piston ring aftermarket are Grover Corporation, Riken Corporation, Cook Compression, Kolbenring India, Federal-Mogul LLC, MAHLE Aftermarket GmbH, Nippon Piston Rings Co. Ltd., Hastings Manufacturing Company, LLC, Nanjing Fayn Piston Rings Co., Ltd., Finimpianti S.r.l., and IP Rings Limited.

  • As the newest member of Auto Value Truck Parts, Piston Ring Service & Supply became a part of the commercial vehicle and heavy-duty program of the Aftermarket Auto Parts Alliance on April 1, 2023, according to the Trucks, Parts, and Service Staff.

Segmentation of Piston Ring Aftermarket Research

  • By Material :

    • Grey Cast Iron
    • Chromium Steel
  • By Ring :

    • Compression Rings
    • Oil Rings
  • By Vehicle :

    • Passenger Cars
    • LCVs
    • HCVs
    • Two-wheelers
  • By Engine :

    • Gasoline
    • Diesel
    • Liquid Gas
  • By Sales Channel :

    • OEMS
    • Aftermarket
  • By Region :

    • North America
    • Europe
    • Latin America
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

- FAQs -

How big is the piston ring aftermarket size in 2024?

The global piston ring aftermarket is estimated at US$ 2.81 billion in 2024.

Which country has a significant aftermarket share in piston rings?

China is estimated to account for a market valuation of US$ 759 billion in 2024.

What is the estimated market size of Japan for 2024?

The market of Japan is forecasted to reach US$ 258.4 million by 2024.

Which material holds a significant market share of piston rings?

Cast iron piston rings account for a market share of around 55% in 2024.

What value is the passenger vehicles segment set to reach in 2024?

Aftersales of piston rings in passenger vehicles are set to reach US$ 1.79 billion in 2024.

In terms of sales channels, which category has a leading market share?

Original equipment manufacturers (OEMs) account for 58% market share for aftersales of piston rings.

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Piston Ring Aftermarket

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