Tappet Market Analysis: Future Forecasts and Challenges Facing Manufacturers in a Competitive Landscape

The global tappet market size is expected to reach USD 11.43 billion by 2030, registering a CAGR of 3.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. The automotive sector drives the market and remains the primary driver of the market.nbsp; As global demand for automobiles continues to rise, particularly in emerging economies, there is a proportional increase in the need for engine components like tappets, also known as valve lifters or cam followers.

The rising transportation industry is witnessing growth due to rising per capita income leading to the demand for niche and luxury cars is also rising due to changing consumer preferences and interests. As a result, consumers are inclined toward vehicles with variations in shapes, automobile bodies, and styles. This has led to technological developments in the manufacturing of different types of vehicles, which, in turn, act as a growth driver for the transportation industry.

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The report “Tappet Market Size, Share & Trends Analysis Report By Product (Flat Tappet, Roller Tappet), By End Use (Heavy Commercial Vehicles, Light Duty Commercial), By Region, And Segment Forecasts, 2024 – 2030” is available now to Grand View Research customers and can also be purchased directly

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Moreover, continuous innovation and adoption of new automotive technology are driving the market growth. For instance, modern engines are increasingly adopting Variable Valve Timing (VVT) and cylinder deactivation technologies, which require more sophisticated and durable tappets. Apart from automotive applications, tappets are essential in various sectors, such as agricultural equipment, construction machinery, industrial machinery like generators, and marine engines. Such industrial applications often require tappets that can endure heavy-duty operations and harsh environments, further boosting market growth.

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Tappet Market Report Highlights:

• Based on product, flat tappet is forecasted to grow at a significant CAGR from 2024 to 2030. This growth is driven by cost-effectiveness and their crucial role within internal combustion engines and industrial applications.
• Based on end use, light duty vehicles dominated the tappet market in 2023 with a revenue share of over 70%. The growth is attributed to modern light-duty vehicles, which are increasingly designed to meet stringent fuel efficiency and emissions standards.
• North America is expected to grow significantly over the forecast period. This region has a robust automotive manufacturing base, with the United States, Canada, and Mexico collectively producing millions of vehicles annually.

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Order your free sample copy of “Tappet Market Report 2024 - 2030, published by Grand View Research