Automotive Connecting Rod Market Overview:
The global automotive connecting rod market is predicted to develop at a 3.49% CAGR between 2024- 2032, states the recent Market Research Future (MRFR) analysis. A connecting rod or con rod, is a component of a piston engine that connects the piston with the crankshaft. This frames a straight part along with the wrench that converts the reciprocating motion into the rotating motion. Automotive connecting rods are used in commercial vehicles and passenger cars and made of aluminium, steel, and others. Powder metals, cast rods, and forged are its different process types.
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 the 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.
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.
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 market 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.
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.
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