The government of India commenced the Automotive Mission Plan which is expected to ensure a rise in demand for Piston and Piston Rings: Ken Research

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The government of India commenced the Automotive
Mission Plan which is expected to ensure a rise
in demand for Piston and Piston Rings Ken
Research
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Ken Research in its latest study, India Piston
and Piston Rings Market Outlook to 2022 suggested
that Shriram Piston and Rings Ltd and Federal
Mogul Goetze India will continue their dominance
but face intense competition. Global companies
such as Mahle Group, Hastings, Riken and others
have plans to start to manufacture different
types of pistons and piston rings in order to
diversify their market in India.
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• India piston and piston rings market is estimated
  to register a positive CAGR from FY2017-FY2022.
  The market is moving towards significant
  consolidation on account of rising collaborations
  with leading international players in the
  country, which is expected to show a rise in
  demand for piston and piston rings in India.
• Piston and Piston Rings are a critical component
  of a vehicles engine as it controls the pressure
  by moving the component that is contained by a
  cylinder and is made gas-tight by piston rings.
  In an engine, its purpose is to transfer force
  from expanding gas in the cylinder to the
  crankshaft through a piston rod or connecting
  rod. The rising foreign direct investments
  coupled with investments in RD by piston and
  piston ring manufacturers will help to enhance
  the production capacity, by using superior
  technology and improving quality of piston and
  piston rings in the market. The rising FDIs in
  India can be attributed towards the low cost of
  production

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relative to first world countries as well as
relaxed norms on foreign investment and
ownership, which is why many leading OEMs and
piston manufacturers in Europe and North America
are off shoring operations to India. Favorable
government policies such as Auto Policy 2002,
Automotive Mission Plan 2006-2016, National
Automotive Testing and RD Infrastructure
Projects (NATRiPs) as well as concessions
provided on excise duties in the Union Budget
2015-16, will help the Indian Piston and Piston
Rings manufacturers achieve considerable growth.
The Make in India initiative to support domestic
manufacturers has created a positive and
optimistic sentiment among piston and piston ring
manufacturers, as the initiative is set to
enhance the ability of companies to set up
manufacturing facilities in India for major
components required to make a piston or piston
ring. The government aims to reduce the
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dependency of manufacturers on imports which in
turn will reduce production costs and generate
higher margins. This initiative will also help in
improving the exports of piston and piston rings.
In the coming years, rising vendor
consolidation, faster replacement market growth,
increasing localization, and growing electronic
content per vehicle will induce the Indian Piston
and Piston rings segment to continue to increase
production at a much faster rate. A key
opportunity area which Indian Piston and Piston
rings manufacturers can exploit is by increasing
export-oriented growth in the coming years as the
production capacity of manufacturers will outpace
the domestic consumption. This will have a
positive impact on the growth of Piston and
Piston rings market. The untapped rural market
has posed to be a lucrative opportunity for
piston and piston ring manufacturers as well as
the
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developments in the coating process will help
drive the demand for India piston and piston
rings market in the future, according to the
Analyst at Ken Research. Key Topics Covered in
the Report Piston Rings Market for Three
Wheelers ShriRam Pistons Competition
India Automotive Piston Market Size India Piston,
Piston Rings Market Future Piston Rings
Market Piston Sales in OEM Market India
Replacement Market Piston Exporters Piston Rings
India Industry Drivers Piston Rings Piston Sales
in Aftermarket Market Auto Components
Manufacturers India
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• The Indian Automotive Piston Aftermarket
• Piston Ring Market 2022 key Manufacturers and
  Growth Analysis
• For further reading click on the link below
• https//www.kenresearch.com/automotive-transportat
  ion-and-warehousing/automotive-and-automotive-comp
  onents/india-piston-rings-market-statistics/128384
  -100.html
• Related Reports by Ken Research
• https//www.kenresearch.com/automotive-transportat
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• https//www.kenresearch.com/automotive-transportat
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  onents/indonesia-used-car-report/79410-100.html

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46888-100.html Contact Ken Research Ankur
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