Global Automotive Piston Pin Market Will Boom Following The Shift Towards Titanium Piston Pins Through 2019: Technavio
16th August, 2015
LONDON ---- Technavio, a tech-focused research firm, has published a new report on the global automotive piston pin market, which is expected to grow at a CAGR of nearly 6% from 2015-2019. The latest report by Technavio draws attention towards the emerging economies of countries such as China, Brazil, and India, which is significantly increasing the purchasing power of customers, resulting in high demand of automobiles, especially for passenger cars that are considered as a basic need. “Many global automakers have partnered with automakers of emerging nations to gain access to their markets. With growing passenger car sales, the market for automotive piston pin is expected to see a steady growth,” says Faisal Ghaus, Vice President of Technavio. The new report by Technavio also highlights the demand for light weight piston pin by consumers, encouraging manufactures to shift towards titanium piston pins, which are structurally stable and light weight. “Titanium, though expensive than steel, because of its advantages over steel in terms of weight, durability, low density, ability to withstand heat and better corrosion resistance, is attracting the market and will boost market growth in the forecast period,” elaborates Ghaus. About Technavio Technavio is a leading global technology research and advisory company. Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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