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The Indian piston ring market is projected to reach USD 1.1 billion (approximately INR 91 billion) by 2025. Driven by the steady growth of domestic automobile production and improving export competitiveness, India has emerged as a core global hub for piston ring manufacturing. While achieving a trade surplus, the industry is accelerating its transition toward high-strength, low-friction materials (such as steel piston
rings) and technologies compatible with hybrid powertrains.
The following figures are based on consolidated estimates from the Automotive Component Manufacturers Association of India (ACMA) and industry research reports, reflecting overall trends for FY2024–25:
| Indicator | Estimated Value (USD) | Industry Insights |
| Total Imports | ~USD 280 million | Mainly sourced from China, Japan, and Germany, with a focus on high-performance and specialty applications. |
| Total Exports | ~USD 380 million | Germany, Brazil, and the United States are the core export markets, with exports maintaining steady growth of approximately 8%. |
| Domestic Production Value | ~USD 950 million | Includes OEM supply and aftermarket demand; localization continues to improve under the support of the PLI scheme. |
| Total Market Size | ~USD 1.1 billion | India currently accounts for approximately 30% of production capacity in the Asia-Pacific region, with strong growth momentum. |
Note: Figures are subject to exchange rate fluctuations and the pace of vehicle electrification.
Top Piston Ring Manufacturers in India (in no particular order)
Shriram Pistons & Rings Ltd (SPRL)
Federal-Mogul Goetze
Samkrg Pistons
IP Rings Ltd
India Pistons Ltd
Samkrg Pistons & Rings Ltd
MAHLE India
TPR India
Benara Bearings & Pistons Ltd
Super Circle Auto Ltd
FY2025 Revenue Overview Based on Audited Reports and Latest Quarterly Disclosures
| Company | FY25 Revenue (Estimated / Actual) | YoY Growth | Key Financial Highlights |
|---|---|---|---|
| Shriram Pistons & Rings | INR 35.5 billion | +15% | Net profit reached INR 5.07 billion; domestic sales account for 85%, exports 15–20%. |
| Federal-Mogul Goetze | INR 17.69 billion | +6% | Total operating revenue of INR 18.26 billion; net profit INR 1.60 billion; market share approx. 29%. |
| Samkrg Pistons & Rings | INR 280 million (Q2: INR 72.1 million) | +15.8% | Strong quarterly revenue rebound; net profit increased by 45.7%. |
| IP Rings Ltd | INR 310 million (Q2: INR 84.9 million) | +6.7% | Maintained steady growth, but profit margin remains low at 0.37%. |
| Benara Bearings | INR 110 million | −36.8% | Undergoing a transition phase; annual revenue declined from approx. INR 1.1 billion five years ago to around INR 100 million. |
Note: 1 crore (INR 10 million) is approximately equivalent to USD 1.2 million; data sourced from public disclosures on NSE and BSE.
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Powered by strong technical development and continuous innovation ability, DY PISTON RING ranks among the leading brands.
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