Tappet Market by Type (Flat Tappet and Roller Tappet), Engine Capacity (<4 Cylinders Engine, 4-6 Cylinders Engine, and >6 Cylinders Engine), Vehicle Type (Heavy Commercial Vehicles and Light Duty Vehicles), End User (Economic Passenger Car, Luxury Passenger Car, and Mid-Priced Passenger Car), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast 2022–2031

Automotive systems and accessories

AU23028610

Pages: 250

Feb 2023

Reports Overview

Global Tappet Market Analysis

The Global Tappet Market Size was $8,400.0 million in 2021 and is predicted to grow with a CAGR of 3.2%, by generating a revenue of $11,318.0 million by 2031.

Global Tappet Market Synopsis

The tappet is a small part that converts cam action into a linear movement to open and close the motor valve. The tappet industry is propelled by tight pollution regulations and consumer demand for higher fuel efficiency. Increased vehicle production and demand are two important factors driving tappets' increase in the global market. The customer preference for enhanced performance and vehicle manufacturing has contributed to a rise in global demand for automotive tappets. These factors are projected to boost the global tappet business throughout the forecast period. The vehicle sector is crucial to the global tappet market. The drop in automobile sales is projected to have a significant impact on global demand for vehicle tappets. Increased disposable income permits the tappet industry to grow. Additionally, the rising vehicle industry globally, as well as advancements in the tappet market, such as the development of machined tappet, are likely to provide new growth opportunities. These factors are anticipated to boost the tappet industry growth in the upcoming years.

One of the primary factors restricting the expansion of the automotive tappet market is the rising demand for electric and hybrid cars. Electric cars have the ability to cut air pollution, greenhouse gas emissions, and other hazardous gas emissions dramatically. These electric vehicles do not require valve and tappet assembly to improve engine performance. Electric and hybrid cars are in high demand among consumers due to reduced pollution and improved vehicle efficiency. Owing to this, the global tappet market is likely to propel in the coming years.

The rising demand for commercial and passenger vehicles is the primary factor driving market expansion. Additionally, the growing customer preference for automobiles with higher economy and power output is increasing product demand. Automotive tappets increase engine performance by varying valve timing and adjusting valve duration while the engine is running. Furthermore, the use of these tappets enables the integration of several camshafts via mechanical connecting systems, which increases power output even further. Moreover, manufacturers are using novel technologies and methods to make Hydraulic Flat Tappet Camshaft (HFTC) fulfil the fuel economy and need for high-performance automobiles, which is increasing worldwide demand for automotive tappets. Other factors that contribute significantly to market development include advancements in lubricant technology, which improves overall engine durability. These factors are anticipated to provide lucrative opportunities during the forecast period.

According to regional analysis, the Asia-Pacific region is anticipated to show the fastest growth during the forecast period. The automotive tappet market is expanding as a result of developing nations like India and China playing a vital role in automotive demand.

Tappet Overview

A tappet, also known as a valve lifter or cam follower, is a tiny automotive component fitted between the tappet lifting mechanism and the camshaft lobe in engines. Its function is to eliminate side thrust while allowing the vertical motion to elevate the valve. Tappets are constructed of light-metal material manufactured in a die to make the cylindrical body, which is attached to the cam through a receiving plate in the top wall. They increase the power output, efficiency, performance, and revolutions per minute (RPM) of the vehicle.

COVID-19 Impact on Global Tappet Market

The COVID-19 pandemic has brought several uncertainties leading to severe economic losses as various businesses across the world were standstill. This has ultimately lowered the demand for tappet due to disruptions in the supply chain, closure of manufacturing plants, as well as economic slowdown across several countries. In addition, import-export restrictions were laid down on major tappet-producing countries such as the U.S. and China. For instance, the sanitization of goods being imported from China was imposed by several countries. In addition, the construction & automotive sectors faced the highest impact in terms of sales and acquisition of new projects due to which the tappet demand reduced significantly. Tappets are used in the construction industry for Heald shedding. For instance, in the construction industry, several construction projects were postponed or canceled due to shortages of raw materials and labor due to fear of contracting the COVID-19 virus among workers, as well as travel restrictions. Similarly, in the automotive sector, tappet used in automotive engines are solid lifters. They provide high efficiency and better torque performance. However, disruptions in the exports of automotive parts from China as well as the closure of automotive assembly and manufacturing units have hampered the tappet market share during the pandemic.

However, for instance, in 2019, SAC Indian Company produced the tappet with an improved machining capacity of tappet (cam followers) of roughly 8.40 million per annum, up from 7.2 million per annum, using the most advanced metrology and metallurgy lab to measure all the important characteristics of the tappets. These initiatives are predicted to drive the tappet market size during the analysis timeframe.

Growing Demand for Fuel-Efficient and Highly Powered Vehicles to Drive the Market Growth

The primary factor driving market expansion is the rising need for vehicle manufacturing. Rising customer demand for automobiles with improved economy and power output is driving up product demand. Automotive tappets increase engine performance by altering valve timing and duration while the engine is operating. Furthermore, the use of these tappets enables for the integration of several camshafts via mechanical connecting systems, which increases power output even further. Additionally, varying valve timing (VVT) technology is widely used in high-performance vehicles and racing cars. It improves engine performance by varying valve timings and modifying the length of the valves while the engine is running.

To know more about global tappet market drivers, get in touch with our analysts here.

The Growing Popularity of Electric and Hybrid Vehicles Will Restrain the Market Growth

The main factors restricting the expansion of the automotive tappet market is the rising demand for electric and hybrid vehicles. The usage of electric vehicles has the potential to drastically cut emissions of dangerous gases, greenhouse gases, and air pollutants. To improve the performance of the engine in these electric vehicles, valve and tappet assembly is not necessary. Due to decreased environmental pollution and improved vehicle efficiency, electric and hybrid vehicles are in high demand among consumers. By 2040, there will be over 600 million electric vehicles on the road worldwide, predicts the International Energy Agency (IEA).

Rise in Technology Advancement Support to Drive Excellent Opportunities for Tappet Market

The number of tappets is proportional to the number of cylinders, and the increased demand for high-power engines such as V-6 and V-8 is increasing the use of tappets in engines. The expansion of the economy and an increase in disposable income have accelerated the demand for high-speed engine cars, which has in turn boosted the tappet industry. To preserve vehicle fuel efficiency, automakers have developed sophisticated valve technology such as Variable Valve Timing (VVT) by Toyota, VTech by Honda, and MIVEC by Mitsubishi. The ECU controls the tappets to adjust the valve timing and delay or hold the valve action, resulting in proper combustion in the cylinder, lowering emissions and increasing fuel economy. Hydraulic tappets are quieter, more efficient, and help to maintain valve clearance. The self-adjusting tappet technology and design to maintain optimal valve clearance will pique the market's interest in the future.

To know more about global tappet market opportunities, get in touch with our analysts here.

Global Tappet Market, by Type

Based on type, the market has been divided into flat tappet and roller tappet. Among these, the flat tappet sub-segment accounted for the highest market share in 2021 and it is estimated to show the fastest growth during the forecast period.