Mexico Tappet Market Size, Share, and COVID-19 Impact Analysis, By Engine Capacity (<4 Cylinders Engine, 4-6 Cylinders Engine, and >6 Cylinder Engine), By Vehicle Type (Heavy Commercial Vehicle and Light Duty Vehicles), and Mexico Tappet Market Insights, Industry Trend, Forecasts to 2033

Mexico Tappet Market Insights Forecasts to 2033

• The Mexico Tappet Market Size is Growing at a CAGR of 3.17% from 2023 to 2033
• The Mexico Tappet Market Size is Expected to Reach a Significant Share by 2033

The Mexico Tappet Market Size is anticipated to reach a significant share by 2033, Growing at a CAGR of 3.17% from 2023 to 2033.

Market Overview

Tappets regulate the engine's valves to move smoothly with proper timing and efficient functionality. Since Mexico is a primary stakeholder in the automotive production industry, as many international automakers have set up businesses, there is a correlated demand for tappets along with the dynamic Mexican automotive business. The market opportunities in Mexico tappet are influenced by multiple factors. The rising production and sales of motorcars, both for local consumption and export, generate a growing demand for car parts such as tappets. Moreover, the growth of electric vehicles (EVs) and hybrid vehicles offers new opportunities for tappet manufacturers to innovate and offer solutions for emerging engine technologies. The government of Mexico has enacted measures to encourage the automotive sector, including tax allowances for manufacturers, infrastructure investment, and policies encouraging research and development in high-level automotive technologies. These efforts build a good investment environment for the tappet market to increase, which motivates growth and technological innovations within the industry.

Report Coverage

This research report categorizes the market for the Mexico tappet market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Mexico tappet market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Mexico tappet market.

Driving Factors

The growing use of sophisticated engine technologies, including fuel-efficient and high-performance engines, also increases the demand for quality tappets. Moreover, the growth of the aftermarket auto parts market, fueled by the increasing number of vehicles on the road and the growing trend towards vehicle maintenance and upgrades, contributes heavily to the growth of the market. In addition, the location of major automotive producers and suppliers in Mexico, as well as the favorable trade agreements such as the USMCA (previously NAFTA), is assisting in fueling investments in the automotive industry, thereby boosting the demand for tappet components.

Restraining Factors

The market experiences strong competition from global players, which can encourage domestic producers to cut prices or invest significantly in research and development, which may shorten profitability.

Market Segmentation

The Mexico tappet market share is classified into engine capacity and vehicle type.

• The <4 cylinders engine segment accounted for the leading revenue share in 2023 and is expected to grow at a remarkable CAGR during the forecast period.

The Mexico tappet market is segmented by engine capacity into <4 cylinders engine, 4-6 cylinders engine, and >6 cylinder engine. Among these, the <4 cylinders engine segment accounted for the leading revenue share in 2023 and is expected to grow at a remarkable CAGR during the forecast period. The growth in the segment is due to the large demand for small, fuel-efficient cars that typically employ engines with less than four cylinders. They are well-liked in Mexico because they are cheap, economical, and perfect for city driving.

• The light duty vehicles segment accounted for the largest market share in 2023 and is expected to grow at a significant CAGR during the forecast period.

The Mexico tappet market is segmented by vehicle type into heavy commercial vehicle and light duty vehicles. Among these, the light duty vehicles segment accounted for the largest market share in 2023 and is expected to grow at a significant CAGR during the forecast period. The market growth is a result of rising demand for passenger automobiles, SUVs, and light trucks, which are usually fitted with tappets in their internal combustion engines. Light-duty vehicles are more in use because they are cheaper, fuel-efficient, and versatile, thus they are widely used by the consumer for their personal movement.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Mexico tappet market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• schaeffler ag
• SM Motor Parts GmbH
• Lunatipower
• comp cams
• SKF
• Eaton Corporation
• federal mogul
• riken
• Crower Cams Equipment Company Inc.
• Rane Engine Valve Ltd
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Mexico, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Mexico tappet market based on the below-mentioned segments:

Mexico Tappet Market, By Engine Capacity

• <4 Cylinders Engine
• 4-6 Cylinders Engine
• >6 Cylinder Engine

Mexico Tappet Market, By Vehicle Type

• Heavy Commercial Vehicle
• Light Duty Vehicles