The tappet market size has grown steadily in recent years. It will grow from $9.01 billion in 2023 to $9.45 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth observed in the historical period can be ascribed to the increase in aftermarket sales, the progress in internal combustion engine development, the expansion of the automotive industry, advancements in precision engineering, and innovations in materials.
The tappet market size is expected to see steady growth in the next few years. It will grow to $11.16 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The anticipated growth in the forecast period can be linked to the increasing demand for performance vehicles, stricter emissions regulations and emphasis on efficiency, the need for lightweight components, the uptick in engine downsizing, and the overall growth in global automotive production. Noteworthy trends expected in the forecast period encompass innovations in lubrication systems, customization to accommodate diverse engine types, adjustments to integrate with variable valve timing systems, the incorporation of smart technologies, and the promotion of compact engine designs.
The growth of the tappet market is anticipated to be driven by the increasing demand for racing cars. Racing cars, specifically designed and modified for competitive motorsports, rely on tappets to optimize valve timing, ensuring maximum power and efficiency crucial for achieving top speeds and responsiveness on the racetrack. In May 2023, Ferrari S.p.A., an Italy-based luxury sports car manufacturer, reported a 9.7% increase in shipped units in Q1 2023 compared to Q1 2022, with net revenues reaching $1.54 billion, a 20.5% YoY increase. Similarly, Automobili Lamborghini S.p.A. delivered 9,233 cars worldwide in 2022, a 10% growth over 2021, driven by a 10% increase in the United States market and a 22% increase in Japan. The rising demand for racing cars is consequently fueling the expansion of the tappet market.
The tappet market is poised for growth owing to the escalating demand for passenger cars. Passenger cars, designed for transporting a small number of passengers, rely on tappets to ensure correct valve timing for efficient engine operation and prevent damage. In July 2023, the Society of Motor Manufacturers and Traders reported a 14.75% growth in Honda Motor Co. Ltd. sales and a 30.57% increase in Nissan Motor Co. Ltd.'s car sales. Additionally, global sales of passenger vehicles increased from 56.43 million in 2021 to 57.48 million in 2022. The surging demand for passenger cars is a key driver behind the growth of the tappet market.
The growth of the tappet market faces challenges due to the increasing demand for electric vehicles (EVs). The rising consumer interest and adoption of EVs, which rely on electricity instead of traditional internal combustion engines, are expected to reduce the relevance and demand for certain traditional engine components such as tappets. According to the International Energy Agency, EV sales nearly doubled in 2021, reaching a record high of 10.2 million units. This increasing demand for electric vehicles poses a hindrance to the growth of the tappet market.
Major companies in the tappet market are leveraging innovative technologies such as Hydraulic Cartridge Technology (HCT) to gain a competitive edge. HCT involves integrating a self-contained hydraulic cartridge into a component or system, offering specific performance benefits. For instance, Competition Cams, Inc., a US-based automotive aftermarket company, introduced Evolution Hydraulic Roller Lifters with HCT for superior aftermarket performance, providing consistent bleed rates, reduced startup noise, and precise high-RPM performance.
In April 2022, Cummins Inc., a US-based engine manufacturing company, acquired Jacobs Vehicle Systems Inc., a move expected to enhance Cummins Inc.'s product portfolio in engine braking and valve actuation for the commercial vehicle market. Jacobs Vehicle Systems Inc. specializes in manufacturing engine tappets for various commercial vehicles.
Major companies operating in the tappet market report are Aisin Seiki Co. Ltd., Eaton Corporation PLC, Schaeffler AG, SKF Group, NSK Ltd., Mahle GmbH, Delphi Technologies, ElringKlinger AG, Federal-Mogul Goetze, Nittan Valve Co. Ltd., Otics Corporation, Elgin Industries, Melling Engine Parts, Wuxi Xizhou Machinery Co. Ltd., Crower Cams & Equipment Company LLC, Sac Engine Components, Rane Engine Valve Ltd., Lunati, Howards Cams, SM Motorenteile GmbH, Johnson Lifters, Kent Cams, Iskenderian Racing Cams, Shri Ram International, RSR Industries.
Asia-Pacific was the largest region in the tappet market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the tappet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the tappet market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The tappet market consists of sales of valve springs, pushrods, valve seals, valve retainers, and locks. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The primary variations of tappets encompass flat tappets, roller tappets, and hydraulic tappets. A flat tappet, found in internal combustion engines, converts the camshaft's rotary motion into the linear motion of the valves, either directly or indirectly. It is applicable across diverse engine capacities, such as those with less than 4 cylinders, 4-6 cylinders, and more than 6 cylinders, and is utilized in heavy-duty commercial vehicles and light-duty commercial vehicles. These products are distributed through various channels, including original equipment manufacturers (OEM) and the aftermarket, catering to a wide range of end-users, including economic passenger cars, luxury passenger cars, and mid-priced passenger cars.
The tappet market research report is one of a series of new reports that provides tappet market statistics, including tappet industry global market size, regional shares, competitors with a tappet market share, detailed tappet market segments, market trends and opportunities, and any further data you may need to thrive in the tappet industry. This tappet market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The tappet market size is expected to see steady growth in the next few years. It will grow to $11.16 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The anticipated growth in the forecast period can be linked to the increasing demand for performance vehicles, stricter emissions regulations and emphasis on efficiency, the need for lightweight components, the uptick in engine downsizing, and the overall growth in global automotive production. Noteworthy trends expected in the forecast period encompass innovations in lubrication systems, customization to accommodate diverse engine types, adjustments to integrate with variable valve timing systems, the incorporation of smart technologies, and the promotion of compact engine designs.
The growth of the tappet market is anticipated to be driven by the increasing demand for racing cars. Racing cars, specifically designed and modified for competitive motorsports, rely on tappets to optimize valve timing, ensuring maximum power and efficiency crucial for achieving top speeds and responsiveness on the racetrack. In May 2023, Ferrari S.p.A., an Italy-based luxury sports car manufacturer, reported a 9.7% increase in shipped units in Q1 2023 compared to Q1 2022, with net revenues reaching $1.54 billion, a 20.5% YoY increase. Similarly, Automobili Lamborghini S.p.A. delivered 9,233 cars worldwide in 2022, a 10% growth over 2021, driven by a 10% increase in the United States market and a 22% increase in Japan. The rising demand for racing cars is consequently fueling the expansion of the tappet market.
The tappet market is poised for growth owing to the escalating demand for passenger cars. Passenger cars, designed for transporting a small number of passengers, rely on tappets to ensure correct valve timing for efficient engine operation and prevent damage. In July 2023, the Society of Motor Manufacturers and Traders reported a 14.75% growth in Honda Motor Co. Ltd. sales and a 30.57% increase in Nissan Motor Co. Ltd.'s car sales. Additionally, global sales of passenger vehicles increased from 56.43 million in 2021 to 57.48 million in 2022. The surging demand for passenger cars is a key driver behind the growth of the tappet market.
The growth of the tappet market faces challenges due to the increasing demand for electric vehicles (EVs). The rising consumer interest and adoption of EVs, which rely on electricity instead of traditional internal combustion engines, are expected to reduce the relevance and demand for certain traditional engine components such as tappets. According to the International Energy Agency, EV sales nearly doubled in 2021, reaching a record high of 10.2 million units. This increasing demand for electric vehicles poses a hindrance to the growth of the tappet market.
Major companies in the tappet market are leveraging innovative technologies such as Hydraulic Cartridge Technology (HCT) to gain a competitive edge. HCT involves integrating a self-contained hydraulic cartridge into a component or system, offering specific performance benefits. For instance, Competition Cams, Inc., a US-based automotive aftermarket company, introduced Evolution Hydraulic Roller Lifters with HCT for superior aftermarket performance, providing consistent bleed rates, reduced startup noise, and precise high-RPM performance.
In April 2022, Cummins Inc., a US-based engine manufacturing company, acquired Jacobs Vehicle Systems Inc., a move expected to enhance Cummins Inc.'s product portfolio in engine braking and valve actuation for the commercial vehicle market. Jacobs Vehicle Systems Inc. specializes in manufacturing engine tappets for various commercial vehicles.
Major companies operating in the tappet market report are Aisin Seiki Co. Ltd., Eaton Corporation PLC, Schaeffler AG, SKF Group, NSK Ltd., Mahle GmbH, Delphi Technologies, ElringKlinger AG, Federal-Mogul Goetze, Nittan Valve Co. Ltd., Otics Corporation, Elgin Industries, Melling Engine Parts, Wuxi Xizhou Machinery Co. Ltd., Crower Cams & Equipment Company LLC, Sac Engine Components, Rane Engine Valve Ltd., Lunati, Howards Cams, SM Motorenteile GmbH, Johnson Lifters, Kent Cams, Iskenderian Racing Cams, Shri Ram International, RSR Industries.
Asia-Pacific was the largest region in the tappet market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the tappet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the tappet market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The tappet market consists of sales of valve springs, pushrods, valve seals, valve retainers, and locks. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The primary variations of tappets encompass flat tappets, roller tappets, and hydraulic tappets. A flat tappet, found in internal combustion engines, converts the camshaft's rotary motion into the linear motion of the valves, either directly or indirectly. It is applicable across diverse engine capacities, such as those with less than 4 cylinders, 4-6 cylinders, and more than 6 cylinders, and is utilized in heavy-duty commercial vehicles and light-duty commercial vehicles. These products are distributed through various channels, including original equipment manufacturers (OEM) and the aftermarket, catering to a wide range of end-users, including economic passenger cars, luxury passenger cars, and mid-priced passenger cars.
The tappet market research report is one of a series of new reports that provides tappet market statistics, including tappet industry global market size, regional shares, competitors with a tappet market share, detailed tappet market segments, market trends and opportunities, and any further data you may need to thrive in the tappet industry. This tappet market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Tappet Market Characteristics3. Tappet Market Trends and Strategies32. Global Tappet Market Competitive Benchmarking33. Global Tappet Market Competitive Dashboard34. Key Mergers and Acquisitions in the Tappet Market
4. Tappet Market - Macro Economic Scenario
5. Global Tappet Market Size and Growth
6. Tappet Market Segmentation
7. Tappet Market Regional and Country Analysis
8. Asia-Pacific Tappet Market
9. China Tappet Market
10. India Tappet Market
11. Japan Tappet Market
12. Australia Tappet Market
13. Indonesia Tappet Market
14. South Korea Tappet Market
15. Western Europe Tappet Market
16. UK Tappet Market
17. Germany Tappet Market
18. France Tappet Market
19. Italy Tappet Market
20. Spain Tappet Market
21. Eastern Europe Tappet Market
22. Russia Tappet Market
23. North America Tappet Market
24. USA Tappet Market
25. Canada Tappet Market
26. South America Tappet Market
27. Brazil Tappet Market
28. Middle East Tappet Market
29. Africa Tappet Market
30. Tappet Market Competitive Landscape and Company Profiles
31. Tappet Market Other Major and Innovative Companies
35. Tappet Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Tappet Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on tappet market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for tappet? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Scope
Markets Covered:1) By Type: Flat Tappet; Roller Tappet; Hydraulic Tappets
2) By Engine Capacity: Less Than 4 Cylinder Engine; 4-6 Cylinders Engine; More Than 6 Cylinder
3) By Vehicle Type: Heavy Duty Commercial vehicles; Light Duty Commercial Vehicles
4) By Distribution Channel: Original Equipment Manufacturer (OEM); Aftermarket
5) By End-User: Economic Passenger Car; Luxury Passenger Car; Mid-Priced Passenger Car
Key Companies Mentioned: Aisin Seiki Co. Ltd.; Eaton Corporation PLC; Schaeffler AG; SKF Group; NSK Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard