- An engine collet is a holding device that is attached through the spring retainer to the valve and placed in between the valve springs and the valve. Collets have a cylindrical inner surface and have an external sleeve, while the outer surface is conical in shape.
Key Drivers of Engine Collet Market
- Rise in demand for fuel-efficient and high performance vehicles across the globe is likely to boost the engine collet market across the globe. Rise in disposable income and reduction in tax rates on passenger and commercial vehicles due to the coronavirus pandemic are prompting consumers to buy a new vehicles. Major vehicle manufacturers are reducing the weight of their vehicles to comply with engine emission norms and to enhance fuel efficiency of their vehicles. This is likely to boost the demand for lightweight engine collet, which in turn is anticipated to propel the engine collet market across the globe.
- Rising government initiatives for the reduction of vehicle emissions across North America and Europe is projected to fuel the use of better quality collets in vehicle engines across these regions, which in turn is likely to boost the engine collet market in these regions
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Europe & Asia Pacific to hold significant share of global engine collet market
- Europe is projected to account for a significant share of the global engine collet market due to stringent rules and regulations regarding vehicle emission norms enacted across the region. Europe has presence of major original equipment manufacturers as well as tier-1 suppliers who have major facilities that undertake research & development regarding the engine collet, which is likely to propel the engine collet market across the globe.
- Followed by Europe, Asia Pacific is projected to account a significant share of the global engine collet market due to an increase in sale of vehicles across the region. Rising demand for fuel-efficient vehicles across Asia Pacific is likely to drive the engine collet market in the region.
- The COVID-19 pandemic has hit businesses on an unprecedented scale and speed across the globe. It has caused the closure of businesses, stoppage of factory outputs, and disruption to global manufacturing industries and their supply networks, which is likely to restrain the engine collet market in Europe and Asia Pacific.
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Key Players Operating in Engine Collet Market
The global engine collet market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the engine collet market are:
- Tenneco Inc.
- Renex Valves
- Federal Mogul LLC
- MAHALE GmbH
- Andreas Maier
- Rego-Fix Ag
- Helmut Diebold GmbH & Co
- MariTool Inc.
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