The global tappet market is predicted to witness prominent growth by 2031, due to the rising demand for fuel-efficient and highly powered vehicles among customers worldwide. Regionally, the Europe region is expected to dominate the market.
NEW YORK, March 21, 2023 /PRNewswire/ —
Global Tappet Market Forecast Analysis:
As per the report published by Research Dive, the global tappet market is anticipated to generate a revenue of $11,318.0 million and rise at a CAGR of 3.2% over the forecast timeframe from 2022 to 2031.
Segments of the Tappet Market
The report has divided the market into the following segments:
Type: flat-tappet and roller tappet
Engine Capacity: <4 cylinders engine, 4-6 cylinders engine, and >6 cylinders engine
Vehicle Type: heavy commercial vehicles and light duty vehicles
End-User: economic passenger car, luxury passenger car, and mid-priced passenger car
Region: North America, Europe, Asia-Pacific, and LAMEA
Access to the Complete PDF Sample of the Tappet Market
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Segment |
Sub-Segment |
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Type |
Flat Tappet – Dominant market share in 2021 |
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The increasing use of flat tappets in the automotive industry due to their greater performance and dependability on forebears and the poppet valve is expected to foster the growth of this market sub-segment further. |
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Engine Capacity |
<4 Cylinders Engine – Largest market share in 2021 |
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The increasing demand for compact and mid-size vehicles across developing nations is expected to propel the sub-segment forward. |
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|
Vehicle Type |
Light Duty Vehicles – Biggest market share in 2021 |
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The increasing use of tappets in light-duty vehicles, such as passenger cars and commercial cars is predicted to fuel the market sub-segment during the forecast period. |
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End-User |
Economic Passenger Car – Highest market share in 2021 |
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The growing concern about fuel economy among consumers, regulators, and automakers is predicted to fuel the growth of the market sub-segment in the coming period. |
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Region
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Europe – Largest market share in 2021 |
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The increasing use of automotive roller tappets in the vehicle system across the region and the rising funding for the development of commercial vehicles are predicted to thrive the regional growth of the market over the analysis period. |
Dynamics of the Global Tappet Market
The rising demand for automobiles with an improved economy and power output is predicted to bolster the growth of the tappet market over the estimated period. Besides, the increasing use of varying valve timing (VVT) in high-performance vehicles and racing cars is predicted to boost the growth of the market throughout the analysis timeframe. However, the growing popularity of electric and hybrid vehicles may hamper the growth of the market during the forecast period.
The expansion of economies and increasing disposable income among individuals have increased the demand for high-speed engine cars. Moreover, the growing use of tappets in making high-power engines, such as the V-6 and V-8 is expected to create expansive growth opportunities for the market over the analysis period. Additionally, the increasing technological advancements, such as self-adjusting tappet technology and sophisticated valve technology to maintain optimal valve clearance are expected to propel the growth of the market throughout the estimated period.
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Covid-19 Impact on the Global Tappet Market
The wake of the Covid-19 pandemic has brought several uncertainties that caused severe economic losses across various businesses. It has also impacted the tappet market badly. This is mainly due to the disruptions in the supply chain, closure of manufacturing plants, and economic slowdown across several countries. Moreover, the import-export restrictions have affected the major tappet-producing countries. In addition, the construction and automotive sector have faced adverse impacts in terms of sales and acquisitions of new projects which further decreased the demand for tappets over the crisis.
Key Players of the Global Tappet Market
The major players of the market include
Wuxi Xizhou Machinery Co. Ltd.
Rane Engine Valve Limited
AC Delco
Federal-Mogul LLC.
TRW
Schaeffler AG
Competition Cams Inc.
NSK Ltd.
Lunati
Eaton Corporation
These players are working on developing strategies, such as product development, merger and acquisition, partnerships, and collaborations to acquire a leading position in the global industry.
For instance, in January 2022, Eaton Corporation®, an American Irish multinational power management company announced its acquisition of Royal Power Solutions, a global supplier of high-precision, critical electrical connectivity components for automotive and industrial applications. With this acquisition, the companies aimed to improve the quality of life and environment by focusing on e-mobility and electrical businesses through the use of power management technologies and services.
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What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter’s five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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