Global Automotive Cylinder Liner Market has witnessed a stable growth in the historical years. Automotive cylinder liners provide protection to the cylinders or bores in an engine and protection it from the internal impact of the strokes while constant combustion in the chamber. These cylinders comes in various shapes and material with the focus on the performance and longevity of the engines. With the constant upgrades and focus on high-performance engines the usage of materials as titanium, aluminum, etc., have extensively increased.
According to the UnivDatos Market Insights Analysis, growing investments in Automotive Cylinder Liner for assisting automotive expansion, the sector will surge in demand for the Global Automotive Cylinder Liner market, which will drive the global scenario of the “Global Automotive Cylinder Liner” report; the global market was valued at USD 5980 million in 2023, growing at a CAGR of 6.44% during the forecast period from 2024 - 2032.
Automotive Cylinder Liner Market Overview in North America:
Asia Pacific region has held a significant market share in the global automotive cylinder liner market in 2023. Some of the factors attributing to the growth are higher demand for automobiles in the region. Additionally, the region is also home to some of the leading automotive manufacturers due to which the OEM demand for automotive cylinder liner comes. These countries as China, India, Japan, South Korea, Indonesia, etc., have leading positions in terms of automotive manufacturing. Additionally, the region is also home to some of the largest electric and hybrid vehicle manufacturers and sellers as China, Japan, etc.
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Additionally, the region has also witnessed a sustained increase in the demand for automobiles in all categories. According to OICA the total sales of automotives in 2022 was 50 million which rose to 55.1 million in 2023 with 10% increase.
Considering the rising demand for automotives in the Asia Pacific region the market for automotive cylinder liners would further grow during 2024-2032.
Growing Demand and Industry Trends:
With the increasing production of automobiles the demand for cylinder liners have extensively increased. As the demand for both commercial as well personal vehicles has enhance the demand for automotive cylinder liners in OEM category. As cylinder liner are crucial component for the engine compartment which helps in keeping bore safe from the impact of stroke while engine functioning. In the recent years automobile sector has experienced a sustained growth after the COVID-19 pandemic. This is due to increased purchasing power as well as lowered interest rates in majority of the country favoring the purchase of new vehicles.
The total sales of automobiles after 2020 to 2023 significantly increased which can be portrayed through figure below. This is majorly due to people preferring to own personal vehicle after the seating and commute issues in public transport to curb the infection. Additionally, the per capita income across the globe has also seen a sustained increase in the historical years which has further promulgated the demand for the automobiles and supporting the demand for automotive cylinder liners.
Prospects and Opportunities:
With the rising demand for automobiles in the Asia Pacific region many of the leading automobile manufacturers have announced their plans to increase their production capacity in the coming years. These expansion are targeted both at commercial and passenger vehicle category which would help the companies to tap the growth opportunities in the region and help them to strengthen their market position. For instance, in 2024, Maruti Suzuki India announced to build its second car manufacturing plant in the state of Gujarat, India with the total cost of USD 450 million. On completion the plant will be able to produce 1 million cars annually. According to the company the production of cars from the plant will start by 2029-29.
In another instance, in 2022, Hyundai Motors announced to complete the construction of its manufacturing unit in Indonesia with the total yearly capacity of 250,000 units. The manufacturing unit is capable of producing both Internation combustion engines and battery electric vehicles simultaneously through its new facility.
Considering the shifts the demand for the automotive cylinder liners in the Asia Pacific region is further anticipated to rise in the forthcoming years i.e., 2024-2032.
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Conclusion:
In conclusion, Asia Pacific’s Automotive Cylinder Liner market reflects a dynamic and evolving landscape supported by government investment, industry collaboration, and technological innovation. As the region continues strengthening its aviation industry and its effectiveness through investment increases, regulatory frameworks, and strategic partnerships, it is well-positioned to navigate challenges and capitalize on emerging opportunities in the automotive production, and for sustainable urban commute.
