The global Automotive Tappet Market is estimated to be valued at US$ 9.17 Bn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
An automotive tappet is a component located in the engine that opens and closes the valves in conjunction with the camshaft. Roller tappets provide reduced friction and noise in operation. They are commonly used in automotive engines during high-performance operations.
Market key trends:
One of the key trends in the automotive tappet market is the growing demand for light weight vehicles. Manufacturers are focusing on reducing the overall weight of vehicles to improve their fuel economy without compromising on performance. Roller tappets are 30-40% lighter than flat tappets, thus their growing adoption by OEMs. The roller design also absorbs more pressure and lasts longer than flat tappets. This is increasing their popularity. Moreover, strict emission standards worldwide are forcing automakers to design efficient engines. Roller tappets help in this regard by enabling optimized valve timing and fuel efficiency.
Segment Analysis
The global automotive tappet market is segmented based on product type, vehicle type, engine type, and region. Based on product type, the automotive tappet market is categorized into solid tappets and hydraulic tappets. Hydraulic tappets dominate the market as they improve engine efficiency by reducing noise and enhancing smoothness during valve operation.
Key Takeaways
The global automotive tappet market is expected to witness high growth, exhibiting a CAGR of 3.8% over the forecast period, due to increasing vehicles production across the globe. The global automotive tappet market size is expected to reach US$ 9.17 Bn by 2023.
Regional analysis
Asia Pacific dominates the global automotive tappet market and is expected to grow at the fastest rate during the forecast period. Countries like China, India, and Japan contribute significantly to the growth of the market in the region. Increasing automotive production in these countries is driving the demand for automotive tappets in Asia Pacific.
Key players
Key players operating in the automotive tappet market are Schaeffler AG (Germany), SKF (Sweden), Eaton (Ireland), Federal-Mogul (U.S.) NSK Ltd. (Japan), Crower Cams & Equipment Company, Inc. (U.S.), COMP Cams. (U.S.), SM Motor Parts GmbH (Germany), lunatipower.com. (U.S.), RANE ENGINE VALVE LIMITED (India), Wuxi Xizhou Machinery Co., Ltd. (China), Yuhuan Huiyu Tappets Co. Ltd (China), RSR Industries (India), and SSV Technocrates. (India).
