World Pistons, Piston Rings and Engine Valves Market to Reach 2.5 Billion units by 2010, According to New Report by Global Industry Analysts, Inc.
The automotive parts industry has undergone a significant change in the recent past. There has been a considerable shift in cars and components, production methods and materials. Driven by expanding demand in the Asian economies and new product developments, worldwide pistons, piston rings and engine valves market is forecast to reach 2.5 billion units by 2010.
San Jose, CA (PRWEB) April 16, 2008 -- Automotive industry forms an essential component of the global economic activity. Its vast size has far reaching influence on diverse industries and sectors, both backward and forward. The automotive components market is primarily influenced by the number of new vehicles manufactured, which is significantly affected by the prevailing economic conditions. Demand for the aftermarket parts and accessories is based on various factors including vehicle purchase, weather conditions, and factors such as number of miles driven by the vehicle and the average life of parts and accessories.
Europe and United States collectively command over 50% of the global demand for pistons, piston rings and engine valves market, as stated by Global Industry Analysts, Inc. Europe represents the largest pistons, piston rings and engine valves market with volume sales estimated at 752 million units for 2008. The European pistons, piston rings and engine valves market operates in tune with the region's automobile industry. Germany represents the largest market for pistons, piston rings and engine valves, with sales projected to touch 209 million units by the year 2010. Asia-Pacific is projected to be the fastest growing regional market over the 2000-2010 period, as majority of the sales growth in the automobile industry originates from Asia-Pacific markets. As established automakers from North America, Europe, and Japan enter the region, Asian producers continue to increase their production and compete in overseas markets. Engine valves market is forecast to witness the fastest growth at a CAGR of over 3% over the period 2000-2010.
The increasing demand for 4-stroke vehicles constitutes another factor that is projected to drive the global market for piston rings. The trend is particularly evident in the developing regions with customers moving towards vehicles with 4-strokes, which require five piston rings. United States is the single largest piston rings market in the world, with sales estimated at 271 million units for 2008.
The report titled "Pistons, Piston Rings And Engine Valves: A Global Strategic Business Report" published by Global Industry Analysts, Inc. analyzes the market for the period 2001-2015. Analysis is presented for the United States, Japan, Asia-Pacific, Middle East and Latin America.
Leading players profiled in the report include Burgess-Norton Manufacturing Company, Elgin Industries, Federal-Mogul Corporation, Hastings Manufacturing Company, Kolbenschmidt Pierburg AG, Mahle International GmbH, Nippon Piston Ring Co Ltd, and TRW Automotive.
For more details of this research report, please visit http://www.strategyr.com/Pistons_Piston_Rings_and_Engine_Valves_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press @ StrategyR.com
Web Site www.StrategyR.com
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