Top key Players Associated to Fortune Business Insights™ are Albon Engineering & Manufacturing Plc, Cummins Inc, MAHLE GmbH, JD Norman Industries, Nangong Jingqiang Connecting Rod Co. Ltd and many more...
Pune, India -- (SBWIRE) -- 10/21/2020 -- Fortune Business Insights™, through its new report, titled “Automotive Connecting Rod Market Size, Share & Industry Analysis, By Process Type (Powder Metals, Forged, Cast Rods), By Vehicle Type (Passenger Cars, Commercial Vehicles), By Material (Aluminum, Steel, Others) and Regional Forecast, 2019-2026” Air pollution from various sources has become a matter of concern for environment scientists, global leaders, and national governments. Not only does air pollution harm the environment in numerous ways, but it is also hazardous for human health. Cars and vehicles are some of the largest emitters of pollutants in the world. Incomplete combustion of fossil fuels in these machines releases harmful gases such as carbon monoxide and other greenhouse gases. According to the US Environment Protection Agency (EPA), 75% of carbon monoxide emissions come from motor vehicles in the US.
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Report answers to the following questions:
- What are the factors driving and restraining the market?
- How are regional developments shaping the market?
- Who are the dominant players in the market and what are their key strategies?
- What are the key segments of this market?
- What are the upcoming opportunities and trends in the market?
Rising Preference for Electric Vehicles to Hamper Market Growth
Incorporation of advanced auto parts in existing vehicles to make internal combustion efficient is one of the leading automotive connecting rod market trends that is fuelling this market. However, the growth of this market faces a massive roadblock in the form of electric vehicles (EVs). These vehicles are powered by entirely by electricity and completely eschew the need to use fossil fuels such as petrol for energy. More importantly, the demand for and production of EVs is climbing at a considerable rate.
According to the International Energy Agency (IEA), the global demand for EVs rose by a staggering 57% in 2017 from 2016 levels. Further, the IEA predicts that production of EVs will touch 125 million and the number of EVs on road will reach 220 million by 2030. Therefore, as production of EVs picks up pace and sustainable technologies become more affordable, the uptake of traditional equipment such as automotive connecting rods is likely to take a hit.
Wide Availability of Labor to Drive the Market in Asia-Pacific
Asia-Pacific is foreseen to dominate the automotive connecting rod market share in the forthcoming years primarily owing to the easy availability of cheap labor in the region. Moreover, the region is rich in natural resources and raw materials, which will augment the market in the coming decade. Lastly, growing demand and consumption of vehicles in India and China will further boost the regional market. OEMs in Europe are heavily investing in research and development to come up with products that can reduce emissions, thereby propelling the market in the region. North American carmakers are actively adopting advanced technologies to meet their emission targets, which is boding well for this market in the continent.
Launch of Environment-friendly Offerings to Spruce up Competition
Key companies in this market are focusing their energies on researching and developing sustainable solutions firmly entrench their position in the market, the automotive connecting rod market analysis says. Mergers and acquisitions is the other preferred route taken by financially-strong players.
- April 2019: MAHLE, a German automotive parts manufacturer, developed a novel melamine cyanurate polymer coating which reduces friction and improves resilience of bearings. The company states that this coating can help bearings to withstand the higher loads of advanced emission control requirements.
- January 2018: The Illinois-based metal component maker JD Norman Industries successfully completed the acquisition of the German precision machine parts manufacturer REGE Motorenteile. The acquisition would aid JD Norman to enter the European market by establishing its presence in Germany and Romania, the two strongholds of REGE.
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The major players that are present in the global automotive connecting rod market include:
- Albon Engineering & Manufacturing Plc
- Cummins Inc
- MAHLE GmbH
- JD Norman Industries
- Nangong Jingqiang Connecting Rod Co. Ltd
- MGP Connecting Rods
- Hilite International GmbH, among others.