India Piston and Piston Rings Market Outlook to 2022
Emergence of Light Weight Pistons and Introduction of Revolutionary Diamond Coating Process
July 2017
144
About the Report
About the Report
The report titled "India Piston and Piston Rings Market Outlook to 2021 - Emergence of Light Weight Pistons and Introduction of Revolutionary Diamond Coating Process" provides a comprehensive analysis of the Indian piston and piston rings market. The report captures aspects such as the market size of the Indian piston and piston rings industry on the basis of major players, market segmentation on the basis of piston and piston rings, by type of piston rings, by type of coating, by type of material, by type of automotive vehicle (two wheeler, three wheeler, four wheeler and heavy duty commercial vehicles), by OEM and aftermarket sales, by domestic and export sales and by organized and unorganized sectors. The report also incorporates the trends and developments, issues and challenges, competitive landscape, government regulations, investment model, value chain and macroeconomic factors that impact the piston and piston rings market in India. The report also covers company profiles and product portfolios of major players as well as a comprehensive analysis of Porter's five forces on the piston and piston rings market in India.
This report will help independent industry consultants, piston and piston rings manufacturers, retail chains, potential entrants and other stakeholders to align their market centric strategies according to the ongoing and expected trends during the forecasted period.
India Piston and Piston Rings Market
The Piston and Piston Ring market has been one of the fastest growing auto component sectors attributing its success primarily to the automobile sector and demand for higher powered engines. The increasing development in infrastructure, a growing domestic market for automobiles backed by new model launches, increasing purchasing power and stabilizing the government framework will draw in major investments both domestically and internationally. The piston and piston rings industry saw a CAGR of ~% during FY'2011-FY'2016. The revenue in the Indian market had grown from INR ~ billion in 2012 to INR ~ billion in 2016. This growth was driven by rapid demand of motorcycle sales which has been growing at ~% YoY and has been a defining factor for this growth. India is poised to become a leading export hub for motorcycles in the coming years and is currently placed as the third largest exporter of two wheelers in the world. The major players in the Piston and Piston rings market in India are Shriram Piston and Rings Ltd, Federal Modgul Goetze India, Sam Piston and Rings, Menon Pistons, India Pistons Ltd and IP Rings.
India Piston and Piston Rings Market Segmentation
By Type: Being an integral part of the functioning of an engine, the piston market has dominated ~% of the revenues generated by manufacturers in contrast to ~% of the share occupied by the piston rings during 2017. This larger share for pistons is attributed to the higher value of pistons in comparison to piston rings as well as the fact that they are installed simultaneously.
By Type of Material: The aluminum pistons have accounted for a share of ~% in terms of revenues and have registered revenues worth INR ~ million in FY'2017. In contrast, the steel pistons have accounted for ~% of revenues with revenues reported to be INR ~ million during FY'2017. Over the last decade, OEM's have preferred to use aluminum pistons in petrol engines due to its ambidextrous properties such as low weight, high strength, superior malleability, easy machining, excellent corrosion resistance and good thermal and electrical conductivity. Steel piston applications primarily deal with diesel engines and industrial engines that require higher tensile strength but tend to be heavier, causing reduced fuel efficiency.
By Type of Coating: The piston market in India can be bifurcated into three different types of coatings, Thermal Barrier Piston Coating, Dry Film Lubricant Coating Piston and Oil Shedding Coating Piston. The thermal barrier piston coating takes up a majority ~% share, where as the dry film-lubricant coating constitutes ~% share in terms of revenues and the remaining ~% is captured by oil shedding coating during FY'2017. The thermal barrier piston coating is considered to be the most popular choice of coating amongst the OEM's for the coating of engine parts due to its oil-shedding properties.
By Type of Automobile: Two wheelers in the Indian market have been the largest source of revenue for Piston manufacturers in India with a revenue share of ~% in the automotive piston market during FY'2017. The two wheeler market is further segmented into the motorcycle segment which captures the largest share of ~%, scooters take up only ~% and mopeds have ~% of the share.
The three wheeler segment takes up a mere ~% share of the piston and piston rings market but has seen positive signs in the domestic as well as export market primarily driven by increasing demand for last-mile connectivity in metros and major cities, improving penetration in lower tier towns and rural areas, and gradually increasing availability of funding through organized channel. The four wheeler segment constitutes ~% of the market share with revenues worth INR ~ million during FY'2017. Factors such as rising prosperity, easier access to finance and increasing affordability have helped four-wheelers gain volumes in the market. The heavy duty commercial vehicles segment has occupied ~% of the market share and has contributed revenues worth INR~ million.
By OEM and Aftermarket: The OEM sales for piston manufacturers have accounted for a significant share of ~% to the overall sales for piston and piston rings with revenues been reported at INR ~ million during FY'2017. Organized players capture the entire OEM market placing special emphasis on maintaining high quality standards for its products as well as employing the latest technology in the production process for piston and piston rings.
The aftermarket on the other hand comprises of ~% of the market share and generated revenues worth INR ~ million during FY'2017.
By Domestic and Export Sales: The domestic sales for pistons and piston rings in India have seen tremendous growth over the last few years constituting ~% of the market share with revenues reported at INR ~million in FY'2017. Alternatively, the export market sales have accounted for ~% of the revenue of piston and piston rings manufacturers with revenues reported at INR ~million during FY'2017. The export market for piston and piston ring manufacturers is still an underpenetrated segment and is still relatively small with high growth prospects in the future due to relaxation on laws of doing business in India, a buoyant end-user market, and return of adequate liquidity in the financial system.
Future Outlook for India Piston and Piston Rings Market
India piston and piston rings market has grown from INR ~ million in FY'2012 to INR ~ million in FY'2017 at a CAGR of ~%. In the future, the revenue for the industry is expected to reach INR ~ million by FY'2022 growing at a CAGR of ~%. In the short run, the industry is projected to grow at a slow rate of ~% from FY'2017 to FY'2019. This has been attributed to the success of the automobile sector, primarily driven by the increasing demand for automobiles due to an inflow of disposable income, and improving consumer sentiment. In the long run, the revenue is expected to grow from INR ~ million in FY'2020 to ~ million in FY'2022.
Key Topics Covered in the Report
- Executive Summary
- Research Methodology
- India Piston and Piston Rings Market Overview and Genesis
- Value Chain Analysis of India Piston and Piston Rings Market
- India Piston and Piston Rings Market Size
- India Piston and Piston Rings Market Segmentation
- End User Analysis For Buying Piston and Piston Rings In India
- Trade Scenario for Piston and Piston Rings in India
- Trends And Development In India Piston and Piston Rings Market
- Issues and challenges in India Piston and Piston Rings market
- Porter's Five Forces Analysis in India Piston and Piston Rings Market
- Market Share of Major Players in India Piston and Piston Rings Market
- Company Profile of Major Players in India Piston and Piston Rings Market
- India Piston and Piston Rings Market Future Outlook and Projections
- Analyst Recommendations
- Macro Factors Affecting India Piston and Piston Rings
Products
Products
Piston, Piston Rings, Oil Rings, Compression Rings
Companies
Menon Pistons, Shriram Piston and Rings Ltd, IP Rings Ltd, India Pistons Ltd, Federal-Mogul Goetze India, Sam Pistons and Rings India
Table of Contents
Table of Contents
1. Executive Summary
Overview & Market Size
Market Segmentation
Trends and Developments
Competitive Scenario
Future Outlook (FY'2018-FY'2022)
2. Research Methodology
2.1. Market Definitions
2.2. Abbreviations
2.3. Market Size and Modeling
Approach - Market Sizing
Market Sizing- Piston and piston rings Market
Variables (Dependent and Independent)
Multi Factor Based Sensitivity Model
Regression Matrix
Limitations
Final Conclusion
3. India Piston and Piston Rings Market Overview and Genesis
4. Value Chain Analysis India Piston and Piston Rings Market
4.1. Major Entities Involved in Value Chain and their Strategies
Solutions to make Value Chain Efficient and Profitable
5. India Piston and Piston Rings Market Size by Revenues, FY'2012-FY'2017
6. India Piston and Piston Rings Market Segmentation
6.1. By Piston and Piston Rings Market, FY'2017
6.2. By Material (Aluminum Piston and Steel Piston Market), FY'2017
6.3. By Type of Piston Ring (Compression Ring, Oil Ring And Others), FY'2017
6.4. By Piston Coating (Thermal Barrier Piston Coating, Dry Film Lubricant Coating Piston and Oil Shedding Coating Piston), FY'2017
6.5. By OEM Sales and Aftermarket, FY'2017
6.6. By Automotive and Non-Automotive Demand, FY'2017
6.6.1. By Type of Automobile (Two Wheeler, Three Wheeler, Four Wheeler and Heavy Commercial Vehicle), FY'2017
6.7. By Domestic and Export Sales, FY'2016
6.8. By Organized and Unorganized Sector, FY'2017
7. Customer Viewpoints for Piston and Piston Rings in India
7.1. Decision Making Parameters OEM consider before purchasing Piston and Piston Rings
7.2. Problems Which OEMs Generally Face From Piston And Piston Rings Manufacturer
8. Trade Scenario for India Piston and Piston Rings Market
8.1. By Exports, FY‘2011- FY'2016
8.2. By Imports, FY'2011- FY'2016
9. Trends and Developments in India Piston and Piston Rings Market
9.1. Emergence of Light Weight Pistons
9.2. Growth in R&D Investments
9.3. Growing Demand For High Performance Bikes
9.4. Revolutionary Diamond Coating Process
9.5. Manufacturing High Quality & Cost Effective Products
10.1. Shift Towards Electric Vehicles
10.2. Push Towards Engine Downsizing & Piston Design
10.3. Poor Infrastructure For Supply Chain & Exports
10.4. Push For Rapid Expansion of Product Lines & Variants
11. Porter Five Forces Analysis on India Piston and Piston Rings Market
12. Government Regulations and Initiatives in India Piston and Piston Rings Market
12.1. Bharat Stage Norms (BS-3 vs. BS-4)
13. Investment Model to set up a Piston and Piston Ring Firm In India
13.1. Investment Model for Pistons
13.2. Investment Model for Piston Rings
14. Competitive Scenario in India Piston and Piston Rings Market
14.1. Market Share for Major Players in India Piston and Piston Rings Market, FY'2016
15. Competitive Landscape for Major Players in India Piston and Piston Rings Market
15.1. Menon Pistons Ltd
15.2. Shriram Piston and Rings Ltd
15.3. IP Rings Ltd
15.4. India Pistons Ltd
15.5. Federal-Mogul Goetze India Ltd
15.6. Sam Pistons and Rings India Ltd
16. India Piston and Piston Rings Market Future Outlook and Projections, FY'2018-FY'2022
16.1. By Revenues, FY'2018-FY'2022
16.2. By Major Applications, FY'2022
16.3. Future Trends In Piston and Piston Rings Market
16.3.1. Goods and Services Tax (GST)
16.3.2. Future Company Automobile Launches By Segments
16.4. Analyst Recommendations
17. Macroeconomic Factors Affecting India Piston and Piston Rings Market
17.1. Two Wheeler Production, FY'2012-FY'2022
17.2. Three Wheeler Production, FY'2012-FY'2022
17.3. Passenger and Commercial Vehicles, FY'2012-FY'2022
17.4. India Used Car Sales, FY'2012-FY'2022
17.5. Aluminium Prices, FY'2012-FY'2022
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List of Figure
Figure 1-1: Flow Chart for India Piston and Piston Rings Market, FY'2017
Figure 4-1: Value Chain Analysis for India Piston and Piston Ring Market
Figure 5-1: India Piston and Piston Rings Market Size on the Basis of Revenues in INR Million, FY'2012 - FY'2017
Figure 6-1: India Piston and Piston Rings Market Segmentation by Piston and Piston Rings on the Basis of Revenues in Percentage (%) FY-2017
Figure 6-2: India Piston and Piston Rings Market Segmentation by Material (Aluminum Piston & Steel Piston) on the Basis of Revenues in Percentage (%), FY'2017
Figure 6-3: Price of Raw Material for Aluminum and Steel in INR/Kg, FY'2011-FY'2017
Figure 6-4: India Piston and Piston Rings Market Segmentation by Type of Piston Ring (Compression Ring, Oil Ring and Others) on the Basis of Revenues in Percentage (%), FY'2017
Figure 6-5: India Piston and Piston Ring Market Segmentation by Piston Coating (Thermal Barrier Piston Coating, Dry Film Lubricant Coating Piston and Oil Shedding Coating Piston) on the Basis of Revenues in Percentage (%) FY'2017
Figure 6-6: India Piston and Piston Ring Market Segmentation by OEM Sales and Aftermarket on the basis of Revenues in Percentage (%), FY'2017
Figure 6-7: India Piston and Piston Ring Market Segmentation by Automotive and Non-Automotive Sector on the basis of Revenues in Percentage (%) FY'2017
Figure 6-8: India Automotive Piston and Piston Rings Market Segmentation by type of Automobile (Two Wheeler, Three Wheeler, Four Wheeler and Heavy Commercial Vehicle) on the Basis of Revenues in Percentage (%) FY'2017
Figure 6-9: India Piston and Piston Rings Market Segmentation by Domestic and Export Sales on the Basis of Revenues in Percentage (%), FY'2016
Figure 6-10: India Piston and Piston Rings Market Segmentation by Organized and Unorganized Sector on the basis of Revenues in Percentage (%) (FY'2017)
Figure 8-1: Export of Piston and Piston Rings in India on the Basis of Value in INR Million, FY'2011-FY'2016
Figure 8-2: Import of Piston and Piston Rings on the Basis of Value in INR Million, FY'2011-FY'2016
Figure 11-1: Porter's Five Forces Analysis for India Piston and Piston Rings Market
Figure 14-1: Market Share of Major Players in India Piston and Piston Rings Market on the Basis of Revenues in Percentage (%), FY'2016
Figure 15-1: Financial Performance of Shriram Piston and Rings Ltd on the Basis of Revenues from Piston and Piston Ring in INR Million, FY'2015-FY'2016
Figure 15-2: Financial Performance of IP Rings Ltd on the Basis of Revenues from Piston and Piston Ring Segment in INR Million, FY'2012-FY'2017
Figure 15-3: Financial Performance of India Pistons Ltd on the Basis of Revenues from Piston and Piston Ring Segment in INR Million, FY'2016-FY'2017
Figure 15-4: Financial Performance of Federal-Mogul Goetze India Ltd on the Basis of Revenues from Piston and Piston Ring in INR Million, FY'2013-FY'2016
Figure 15-5: Financial Performance of Sam Piston and Rings Ltd on the Basis of Revenues from Piston and Piston Ring Segment in INR Million, FY'2011-FY'2016
Figure 16-1: Future Projections for India Piston and Piston Rings Market on the Basis of Revenues in INR Million, FY'2018-FY'2022
Figure 16-2: India Automotive Piston and Piston Rings Market Projected Future Outlook by Vehicle Type on the Basis of Revenues in Percentage (%), FY'2022
Figure 17-1: India Two Wheeler Production Market in terms of Million Units, FY'2012-FY'2022
Figure 17-2: India Three Wheeler Production Market in terms of Units, FY'2012-FY'2022
Figure 17-3: India Passenger and Commercial Vehicles' Production Market in terms of Million Units, FY'2012-FY'2022
Figure 17-4: India Used Car Sales Market in terms of Million Units, FY'2012-FY'2022
Figure 17-5: Aluminium Prices in India in terms of INR/Ton, FY'2012-FY'2022
List of Table
Table 2-1: Correlation Matrix for the India Piston and Piston Rings Market
Table 2-2: Regression Coefficients Output for India Piston and Piston Rings Market
Table 3-1: Market Evolution, Overview and Structure and Emerging Market Trends in India Piston and Piston Rings Market
Table 5-1: Rationale and Description for India Piston & Piston Rings Market Size on the Basis of Revenues, FY'2012-FY‘2017
Table 6-1: Rationale and Description for India Piston and Piston Rings Market Segmentation by Piston and Piston Rings on the Basis of Revenues in INR Million, FY' 2017
Table 6-2: India Piston and Piston Rings Market Segmentation by Material (Aluminum Piston and Steel Piston) on the Basis of Revenues in INR Million, FY'2017
Table 6-3: India Piston and Piston Rings Market Segmentation by Type of Piston Ring (Compression Ring, Oil Ring and Others) on the Basis of Revenues in INR Million, FY'2017
Table 6-4: India Piston and Piston Ring Market Segmentation by Piston Coating (Thermal Barrier Piston Coating, Dry Film Lubricant Coating Piston and Oil Shedding Coating Piston) on the Basis of Revenues in INR Million, FY'2017
Table 6-5: India Piston and Piston Ring Market Segmentation by OEM Sales and Aftermarket on the Basis of Revenues in INR Million, FY'2017
Table 6-6: India Piston and Piston Ring Market Segmentation by Automotive and Non Automotive Sector on the Basis of Revenues in INR Million, FY'2017
Table 6-7: India Automotive Piston and Piston Ring Market Segmentation by Type of Automobile (Two Wheeler, Three Wheeler, Four Wheeler and Heavy Commercial Vehicle) on the Basis of Revenues in INR Million, FY' 2017
Table 6-8: Current and Future CAGR for Automobile Sales in India, FY'2012-FY'2017
Table 6-9: India Piston and Piston Rings Market Segmentation by Domestic and Export Sales on the Basis of Revenues in INR Million, FY'2016
Table 6-10: India Piston and Piston Rings Market Segmentation by Organized and Unorganized Sector on the Basis of Revenues in INR Million, FY'2017
Table 6-11: India Piston and Piston Rings Market Segmentation by Organized and Unorganized Sector on the Basis of Revenues in INR Million, FY'2012-FY'2017
Table 7-1: Decision Making Parameters Considered by Customers before Purchasing Piston and Piston Rings in India
Table 7-2: Problem which OEMs Face from Piston and Piston Rings in India
Table 8-1: Export of Piston and Piston Rings Market on the Basis of Value in INR Million, FY'2011-FY'2016
Table 8-2: Import of Piston and Piston Rings Market on the Basis of Value in INR Millions, FY'2011-FY'2016
Table 9-1: Research and Development Expenditure by Leading Piston and Piston Ring Manufacturers in India
Table 9-2: Sales of High Performance Bike in India in Number of Units
Table 9-3: Leading Manufacturers and their Brands for Electric and Hybrid Vehicles in India
Table 9-4: Product Range of Major Manufacturers in India Piston and Piston Rings Market
Table 11-1: Porter's Five Forces Analysis for India Piston and Piston Rings Market
Table 12-1: Government Regulations and Initiatives in India Piston and Piston Rings Market
Table 12-2: Bharat Stage Norms in India Automotive Industry
Table 13-1: Assumptions for Setting up Piston Manufacturing Plan
Table 13-2: Implementation Schedule for Piston Manufacturing Plant in number of Days
Table 13-3: Land Requirement for Piston Manufacturing Plant (in SQM & INR)
Table 13-4: Machinery Requirement for Piston Manufacturing Plant in INR Thousand
Table 13-5: Working Capital on Employees' Salary for Piston Manufacturing Plant in INR per Month
Table 13-6: Raw Material Working Capital for Piston Manufacturing Plant in INR per Month
Table 13-7: Other Cost Components of Piston Manufacturing Plant in INR per Month
Table 13-8: Working Capital Analysis for setting up Piston Manufacturing Plant
Table 13-9: Working Capital Requirements for setting up Piston Manufacturing Plant in INR
Table 13-10: Financial Requirement for setting up Piston Manufacturing Plant in INR
Table 13-11: Means for Finance for Setting up Piston Manufacturing Plant in INR per month
Table 13-12: Annual Cost of Production for Setting Piston Manufacturing Plant in INR
Table 13-13: Sales Revenue Analysis for Pistons in INR
Table 13-14: Financial Indicators for Piston Manufacturing Plant in INR
Table 13-15: Assumptions for setting up Piston Rings Manufacturing Plant
Table 13-16: Land Requirement for Piston Ring Manufacturing Plant (in SQM & INR)
Table 13-17: Implementation Schedule for Piston Rings Manufacturing Plant in number of Days
Table 13-18: Machinery Requirement for Piston Rings Manufacturing Plant
Table 13-19: Expenses on Employees' Salary for Piston Rings Manufacturing Plant in INR per Month
Table 13-20: Raw Material Requirement for Piston Rings Manufacturing Plant in INR per Month
Table 13-21: Other Cost Components of Piston Ring Manufacturing Plant in INR per Month
Table 13-22: Working Capital Analysis for setting up Piston Ring Manufacturing Plant
Table 13-23: Working Capital Requirements for setting up Piston Rings Manufacturing Plant in INR
Table 13-24: Financial Requirement for setting up Piston Rings Manufacturing Plant in INR
Table 13-25: Means for Finance for Setting up Piston Rings Manufacturing Plant in INR
Table 13-26: Annual Cost of Production for Setting Piston Rings Manufacturing Plant in INR
Table 13-27: Revenue Analysis for Piston Rings in INR
Table 13-28: Financial Indicators for Piston Rings Manufacturing Plant in INR
Table 14-1: Competitive Structure of Leading Organized Piston and Piston Ring Manufacturers
Table 14-2: Market Share of Major Players in India Organized Piston and Piston Rings Market on the Basis of Revenues in INR Million, FY'2017
Table 15-1: Company Profile for Menon Pistons Ltd Including Company Overview, Business Strategies, USP, Revenues, Revenues Split by Type and Sector, Employees, Milestones and Others
Table 15-2: Financial Performance of Menon Pistons Ltd on the Basis of Revenues from Piston and Piston Ring Segment in INR Million, FY'2011-FY'2016
Table 15-3: Company Profile for Shriram Piston and Rings Ltd Including Company Overview, Business Strategies, USP, Revenues, Revenues Split by Type and Sector, Employees, Milestones and Others
Table 15-4: Company Profile for IP Rings Ltd Including Company Overview, Business Strategies, USP, Revenues, Revenues Split by Type and Sector, Employees, Milestones and Others
Table 15-5: Company Profile for India Pistons Ltd Including Company Overview, Business Strategies, USP, Revenues, Revenues Split by Type and Sector, Employees, Milestones and Others
Table 15-6: Company Profile for Federal-Mogul Goetze India Ltd Including Company Overview, Business Strategies, USP, Revenues, Revenues Split by Type and Sector, Employees, Milestones and Others
Table 15-7: Company Profile for Sam Pistons and Rings India Ltd
Table 16-1: India Piston and Piston Rings Market Future Outlook and Projections by Revenues, (FY'2018 to FY'2022)
Table 16-2: Future Outlook and Projections for India Piston and Piston Rings Market on the Basis of Revenues, FY'2018-FY'2022
Table 16-3: India Automotive Piston and Piston Rings Market Projected Future Projections By Vehicle Type on the basis of Revenues in INR Million, FY'2022
Table 16-4: Passenger Car Launches FY'2015-FY'2016
Table 16-5: Two Wheeler Launches (FY'2017-FY'2019)
Table 16-6: Analyst Recommendations for India Piston and Piston Ring Market
Table 17-1: India Two Wheeler Production Market in terms of Million Units, FY'2012-FY'2022
Table 17-2: India Three Wheeler Production Market in terms of Units, FY'2012-FY'2022
Table 17-3: India Passenger and Commercial Vehicles' Production Market in terms of Million Units, FY'2012-FY'2022
Table 17-4: India Used Car Sales Market in terms of Million Units, FY'2012-FY'2022
Table 17-5: Aluminium Prices in India in terms of INR/Ton, FY'2012-FY'2022
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