The global automotive rocker arm market is expected to grow at a CAGR of more than 3% during the period 2017-2021, according to a new market research study by Technavio.
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Technavio has published a new market research report on the global automotive rocker arm market 2017-2021 under their automotive library. (Graphic: Business Wire)
The report categorizes the global automotive rocker arm market by vehicle type, which includes passenger vehicles, light commercial vehicles, and heavy commercial vehicles. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: increasing demand for logistics by roadways
Increasing preference for road transportation for last mile delivery and the subsequent increase in the use of heavy, medium, and light-duty vehicles in emerging countries such as China and India, will lead to reduced use of rail transport. In China, huge traffic congestions are caused due to large heavy-duty trucks being used for transporting goods from inner Mongolia to Beijing. One of the major reasons for opting road transport for transporting cargo is the limited number of rail freight services within the country. The lack of sufficient freight services is causing companies to choose roadways as a reliable mode of transportation of products.
According to Ganesh Subramanian, a lead analyst at Technavio forautomotive componentsresearch, "Light commercial vehicles and medium and heavy commercial vehicles are used extensively for transporting cargo in China. There has been a significant decline in rail freight over the years. In India, road transportation is the widely chosen means for container transport. The main reasons for this are the high rail freight costs, poor last-mile connectivity, and lack of availability of freight trains. Furthermore, due to cross-subsidization between freight trains and passenger trains has caused the rates of rail haulage to be expensive."
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Market trend: increasing use of titanium rocker arms
Automotive rocker arms are made of various materials. Commonly used rocker arms are made of steel, aluminum, and chrome-moly. Chrome-moly steel provides design advantages despite being heavier than other materials. Chrome-moly steel has superior strength density because it has much thinner sections than aluminum. The rocker arms used for car engines are steel stampings, which provide a fair balance of strength, weight, and cost. Truck engines use stronger and stiffer rocker arms made of cast iron (usually ductile), or forged carbon steel. The global automotive rocker arm market is witnessing increased use of titanium for manufacturing rocker arms. Titanium is stronger, more durable, less dense, and has a high resistance to elevated temperatures and corrosion than steel. These properties make it a preferred material to manufacture rocker arms.
Market challenge: rising demand for electric vehicles to undermine the need for rocker arms
The traditional internal combustion engine vehicles dominate the market due to their tested and proven engine mechanism and performance. However, in the last few years, electric vehicles have gone from novelty to serious contenders. With rising global concerns on climate change, consumers are slowly shifting from traditional products to green products. The global electric vehicle market is flourishing due to numerous benefits and subsidies provided by the governments and increased awareness among the people to curb greenhouse gases.
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Key vendors in the market
- Schaeffler
- Crower Cams Equipment
- COMP Cams
- Lunati
The global automotive rocker arm market is fragmented due to the presence of many vendors and thus, is highly fragmented. The market is characterized by the presence of well-diversified international, regional, and local players. The local and regional vendors in the market offer cost-effective rocker arms with limited features and functionalities. However, international players are increasing their presence in the global automotive rocker arm market.
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