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.
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Rise of Hybrid Vehicles:
A large number of customers are moving towards hybrid-electric vehicles. Electric vehicles offer low operational cost to the customers which has been paramount with the rising fuel prices. Additionally, these vehicles also provide enhanced range where along with the internal combustion engine the integration of a battery provides additional range to the vehicles and also offering regeneration of power with the brakes applied.
These hybrid vehicles have witnessed a sustained growth in the recent years across the globe. Many of the governments have also offered tax benefits and subsidies to the customers to opt for hybrid vehicles as they provide a bridging gap from conventional vehicles to fully battery electric vehicles.
Additionally, hybrid vehicle also addresses the issues related to recharge of batteries and range in distant location of vehicles due to which a sizable number of customers are moving towards it and further improving the demand for automotive cylinder liners in OEM category.
Considering the factors the demand for Automotive Cylinder Liners would grow in the coming years i.e., 2024-2032.
Increased Automobile Production:
One of the key factors that has increased the demand for Automotive Cylinder Liners is the rising demand for automobiles in the recent years. With the incessant increase in the demand for the passenger as well as the commercial vehicles has constantly supported the rising demand for automotive cylinder liner market. For instance, according to OICA (International Organization of Motor Vehicle Manufacturers), the total sales of automobiles increased from 16 million to 18 million between 2022 and 2023. A similar trend has also been witnessed in North America region where the total sales of automobiles increased from 17.7 million to 19.1 million between 2022 and 2023.
Additionally, many of the companies across the globe have announced to build new automotive manufacturing plant in the coming years which would further fuel the demand for automotive cylinder liners. 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.
Considering the upsurge in the demand for automobiles of both passenger and commercial category the demand for automotive cylinder liners would also increase in the forthcoming years.
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Conclusion:
The Global Automotive Cylinder Liner Market is experiencing a transformative phase driven by technological advancements, sustainable vehicle production and operations, digitalization, market dynamics, and implementation of government policies. Stakeholders across the industry are embracing these trends to enhance operational efficiency, etc. According to the Universal Data Solutions analysis, growing demand for automobiles will drive the growth scenario of Automotive Cylinder Liner and as per their “Automotive Cylinder Liner Market” 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.
