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Tappet Global Market Report 2024

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    Report

  • 175 Pages
  • February 2024
  • Region: Global
  • The Business Research Company
  • ID: 5933848
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.


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Table of Contents

1. Executive Summary2. Tappet Market Characteristics3. Tappet Market Trends and Strategies
4. Tappet Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Tappet Market Size and Growth
5.1. Global Tappet Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Tappet Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Tappet Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Tappet Market Segmentation
6.1. Global Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Flat Tappet
  • Roller Tappet
  • Hydraulic Tappets
6.2. Global Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Less Than 4 Cylinder Engine
  • 4-6 Cylinders Engine
  • More Than 6 Cylinder
6.3. Global Tappet Market, Segmentation by Vehicle Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Heavy Duty Commercial vehicles
  • Light Duty Commercial Vehicles
6.4. Global Tappet Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Original Equipment Manufacturer (OEM)
  • Aftermarket
6.5. Global Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Economic Passenger Car
  • Luxury Passenger Car
  • Mid-Priced Passenger Car
7. Tappet Market Regional and Country Analysis
7.1. Global Tappet Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Tappet Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. Asia-Pacific Tappet Market
8.1. Asia-Pacific Tappet Market Overview
Region Information, Impact of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
9. China Tappet Market
9.1. China Tappet Market Overview
9.2. China Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
10. India Tappet Market
10.1. India Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11. Japan Tappet Market
11.1. Japan Tappet Market Overview
11.2. Japan Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12. Australia Tappet Market
12.1. Australia Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13. Indonesia Tappet Market
13.1. Indonesia Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14. South Korea Tappet Market
14.1. South Korea Tappet Market Overview
14.2. South Korea Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. Western Europe Tappet Market
15.1. Western Europe Tappet Market Overview
15.2. Western Europe Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16. UK Tappet Market
16.1. UK Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17. Germany Tappet Market
17.1. Germany Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. France Tappet Market
18.5. France Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.6. France Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.7. France Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19. Italy Tappet Market
19.9. Italy Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20. Spain Tappet Market
20.13. Spain Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. Eastern Europe Tappet Market
21.1. Eastern Europe Tappet Market Overview
21.2. Eastern Europe Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22. Russia Tappet Market
22.1. Russia Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. North America Tappet Market
23.1. North America Tappet Market Overview
23.2. North America Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. USA Tappet Market
24.1. USA Tappet Market Overview
24.2. USA Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. Canada Tappet Market
25.1. Canada Tappet Market Overview
25.2. Canada Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. South America Tappet Market
26.1. South America Tappet Market Overview
26.2. South America Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27. Brazil Tappet Market
27.1. Brazil Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. Middle East Tappet Market
28.1. Middle East Tappet Market Overview
28.2. Middle East Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. Africa Tappet Market
29.1. Africa Tappet Market Overview
29.2. Africa Tappet Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Tappet Market, Segmentation by Engine Capacity, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Tappet Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
30. Tappet Market Competitive Landscape and Company Profiles
30.1. Tappet Market Competitive Landscape
30.2. Tappet Market Company Profiles
30.2.1. Aisin Seiki Co. Ltd.
30.2.1.1. Overview
30.2.1.2. Products and Services
30.2.1.3. Strategy
30.2.1.4. Financial Performance
30.2.2. Eaton Corporation PLC
30.2.2.1. Overview
30.2.2.2. Products and Services
30.2.2.3. Strategy
30.2.2.4. Financial Performance
30.2.3. Schaeffler AG
30.2.3.1. Overview
30.2.3.2. Products and Services
30.2.3.3. Strategy
30.2.3.4. Financial Performance
30.2.4. SKF Group
30.2.4.1. Overview
30.2.4.2. Products and Services
30.2.4.3. Strategy
30.2.4.4. Financial Performance
30.2.5. NSK Ltd.
30.2.5.1. Overview
30.2.5.2. Products and Services
30.2.5.3. Strategy
30.2.5.4. Financial Performance
31. Tappet Market Other Major and Innovative Companies
31.1. Mahle GmbH
31.2. Delphi Technologies
31.3. ElringKlinger AG
31.4. Federal-Mogul Goetze
31.5. Nittan Valve Co. Ltd.
31.6. Otics Corporation
31.7. Elgin Industries
31.8. Melling Engine Parts
31.9. Wuxi Xizhou Machinery Co. Ltd.
31.10. Crower Cams & Equipment Company, LLC
31.11. Sac Engine Components
31.12. Rane Engine Valve Ltd.
31.13. Lunati
31.14. Howards Cams
31.15. SM Motorenteile GmbH
32. Global Tappet Market Competitive Benchmarking33. Global Tappet Market Competitive Dashboard34. Key Mergers and Acquisitions in the Tappet Market
35. Tappet Market Future Outlook and Potential Analysis
35.1 Tappet Market in 2028 - Countries Offering Most New Opportunities
35.2 Tappet Market in 2028 - Segments Offering Most New Opportunities
35.3 Tappet Market in 2028 - Growth Strategies
35.3.1 Market Trend-based Strategies
35.3.2 Competitor Strategies
36. Appendix
36.1. Abbreviations
36.2. Currencies
36.3. Historic and Forecast Inflation Rates
36.4. Research Inquiries
36.5. About the Analyst
36.6. Copyright and Disclaimer

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.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
  • Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis
  • Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
  • All data from the report will also be delivered in an excel dashboard format.

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

Methodology

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