The Automotive Roller Tappets Market is Estimated To Witness High Growth Owing To Rising Demand for Fuel Efficient Engines

 The Automotive Roller Tappets Market is estimated to be valued at US$9.18 Bn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

The automotive roller tappets market plays a vital role in functioning of internal combustion engines in vehicles across automobile industry. Roller tappets are critical components of internal combustion engines that aid proper opening and closing of valves. The growing automotive production driven by increasing transportation needs globally has augmented the demand for automotive roller tappets over the years.

Market Overview:
Automotive roller tappets are mechanical components used to convert the rotary motion of camshaft in an internal combustion engine into linear motion to open and close engine valves. The roller tappets offer reduced friction and noise compared to flat type tappets. They assist in maximizing fuel efficiency of engines by enabling advanced valve train technologies.

Market key trends:
The automotive roller tappets market is driven by the rising demand for fuel efficient vehicles globally. The roller tappets allow use of technologies such as variable valve timing in engines which enhance fuel efficiency. They play a vital role in effective functioning of advanced valve train technologies adopted by automakers to meet stringent emission norms. Additionally, growing automotive production especially in Asia Pacific driven by increasing transportation needs is augmenting the demand for automotive components including roller tappets. The key manufacturers are engaged in new product launches to offer innovative solutions supporting advanced engine technologies. For instance, in 2022, Schaeffler AG introduced its ICEGen3 engine structures with optimized components including roller finger followers for fuel efficient engines.

Porter’s Analysis
Threat of new entrants: The automotive roller tappets market is capital-intensive to enter due to requirement of heavy investments in R&D and manufacturing facilities. This poses significant barrier to new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternatives and presence of established manufacturers. They can negotiate on price and quality.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and dependence of manufacturers on efficient supply chain. Switching costs are also moderate.
Threat of new substitutes: Threat from new substitutes is low as roller tappets provide better performance and are widely accepted in automotive industry. However, flat tappets can be considered as substitutes.
Competitive rivalry: The market is highly competitive due to presence of global as well as domestic players.

SWOT Analysis
Strength: Robust demand from automotive industry, requirement in all vehicles, proven product.
Weakness: Seasonal demand, price fluctuations of raw materials affect profitability, technology upgrades require heavy investments.
Opportunity: Growth in emerging markets, replacement of old vehicles boosts aftermarket, customization as per vehicle type/demand.
Threats: Shift to electric vehicles in future, stringent emission norms affect diesel vehicles, trade policies impact manufacturing.

Key Takeaways
The global automotive roller tappets market is expected to witness high growth, exhibiting CAGR of 3.9% over the forecast period, due to increasing automotive production and sales globally. Asia Pacific dominated the market in 2023 with a share of over 40%, led by China, India, and Japan.

Regional analysis fastest growing region is Asia Pacific led by China and India due to large existing automobile fleet and increasing disposable incomes driving vehicles sales.

Key players operating in the automotive roller tappets market are Schaeffler AG (Germany), SKF (Sweden), Eaton (Ireland), Federal-Mogul (U.S.) NSK Ltd. (Japan), Crower Cams & Equipment Company, Inc. (U.S.), COMP Cams. (U.S.), SM Motor Parts GmbH (Germany), lunatipower.com. (U.S.), RANE ENGINE VALVE LIMITED (India), Wuxi Xizhou Machinery Co., Ltd. (China), Yuhuan Huiyu Tappets Co. Ltd (China), RSR Industries (India), and SSV Technocrates. (India