The tappet is a part of the valve train that follows the camshaft in order to facilitate the opening and closing of valves. The tappet is a small member that converts the rotational motion of the cam into linear motion to open and close the engine valve. Stringent emission regulatory pressure and demand for improved fuel economy are driving the tappet market.
The number of tappets are relative to the number of cylinders and the rise in demand for high power engines such as V-6, V-8 is boosting the usage of tappets in an engine. Expansion of the economy and increase in disposable income have propelled the high-speed engine vehicles market, which in turn is boosting the tappet market. Decline in the prices of crude has made fuel-consuming engines such V-6 and V-8 affordable. This, in turn, is boosting the demand for such vehicles, which in turn is driving the demand for tappets.
Rise in the number of first-time buyers in Asia Pacific and Latin America is driving the production of passenger vehicles in these regions, which in turn is driving the tappet market. Automakers have developed advanced valve technology such as Variable Valve Timing (VVT) by Toyota, VTech by Honda and MIVEC by Mitsubishi in order to maintain fuel economy of vehicles. The tappets are controlled by the ECU in order to vary the valve time and to delay or hold the valve function, which leads to proper combustion in the cylinder, thus minimizing emission and achieving fuel efficiency. Hydraulic tappets run quieter, operate effectively, and maintain valve clearance. The self-adjusting tappet technology and design to maintain optimal valve clearance is to hold the future market interest.
The global tappet market for automobile can be segmented based on design, tappet, engine size, vehicle type, sales channel, and region. Based on design, the global tappet market can be classified into two segments. The roller tappet segment is estimated to expand during the forecast period owing to reduced friction, increased tappet velocity, and more power. Demand for performance vehicles is expected to drive the roller tappet segment of the market during the forecast period.
In terms of tappet type, the global tappet market for automobile can be segmented into two segments. Hydraulic tappets are being increasing utilized in diesel engines owing to their smooth and quiet working.
Based on engine size, the global tappet market for automobile can be segregated into three segments. 4-6 cylinder and more than 6 cylinder segments dominate the market. Affordability price and stable design have made the 4-cylinder engine the most widely accepted engine type. Rise in demand for compact and mid-size vehicles in developing countries such as India, China, and Brazil is projected to expand the 4-6 cylinder segment of the tappet market during the forecast period.
In terms of vehicle, the global tappet market for automobile can be classified into passenger vehicle and commercial vehicle. Rise in the production of passenger vehicles owing to increase in income is estimated to boost the demand for tappets in the passenger segment. Improved transport and logistics is driving the production of commercial vehicles and is thus, projected to expand the commercial vehicle segment.
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By sales channel, the global tappet market for automobile can be classified into OEM and Aftermarket. The OEM holds a major market share.
Based on geography, the tappet market for automobile can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Asia Pacific is estimated to dominate the global tappet market owing to increased vehicle production in the region, followed by Europe.
Key players operating in the global tappet market for automobile include Eaton, NSK Ltd., Schaeffler AG, Federal-Mogul LLC., Rane Engine Valve Limited, Otics Operation, AC Delco, TRW, Competition Cams, Inc., and Lunati. In 2014, NSK Ltd. developed a low-torque tappet with a chrome plating for the diesel engine manufactured by Keihin, which improves fuel efficiency and reduces friction loss.