Global Automotive Crankshaft Market Poised to Reach USD 4.94 Billion by 2030
The global automotive crankshaft market, valued at USD 3.89 billion in 2023, is projected to expand to nearly USD 4.94 billion by 2030, reflecting a compound annual growth rate (CAGR) of 3.46% during the forecast period. This growth is primarily driven by the increasing demand for passenger and commercial vehicles worldwide, coupled with advancements in engine technologies aimed at enhancing fuel efficiency and reducing emissions.
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Competitive Landscape
The market features prominent players such as NSI Crankshaft, Crower Cams & Equipment, Bryant Racing Inc, Arrow Precision, Maschinenfabrik ALFING Kessler GmbH, ThyssenKrupp Crankshaft Company LLC, Rheinmetall, Sandvik, Cigueñales Sanz SL, TIANRUN CRANKSHAFT, Bhatar Forge Ltd, Amtek Auto Ltd, and Nippon Steel Integrated Crankshaft LLC. These companies are focusing on research and development to introduce lightweight and high-strength crankshafts, addressing the industry’s emphasis on fuel efficiency and emission reductions.
Regional Insights
Growth and Opportunities in the United States
The United States automotive crankshaft market is experiencing steady growth, driven by the robust demand for passenger and commercial vehicles. Technological advancements in engine design, including the development of high-performance and fuel-efficient engines, are propelling the demand for advanced crankshaft materials and designs. Additionally, the focus on achieving higher fuel efficiency and reducing emissions aligns with stringent regulatory standards, further stimulating market growth.
Trends and Consolidation in Asia Pacific
Asia Pacific has emerged as a key growth market for automotive crankshafts, particularly in countries like China and India. The region’s rapid industrialization, urbanization, and increasing vehicle production contribute significantly to market expansion. Furthermore, the shift towards electric and hybrid vehicles presents new opportunities for crankshaft manufacturers to cater to evolving engine requirements.
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Updation and Opportunities in Europe
Europe stands out as a dominant region in the automotive crankshaft market, driven by advancements in automobile engines and a strong automotive manufacturing base. The region’s stringent emissions regulations foster continuous innovation in engine technology, creating a robust demand for crankshafts. Additionally, Europe’s focus on electric vehicle development and consumer purchasing power is expected to further stimulate market growth.
Trends and Growth in the Middle East and Africa
The Middle East and Africa are witnessing gradual growth in the automotive crankshaft market. Factors such as increasing vehicle ownership, aging vehicle fleets, and the growing popularity of motorsports and performance tuning enthusiasts drive demand for high-performance crankshafts capable of withstanding extreme operating conditions.
Key Recent Developments
In November 2022, Continental introduced new Knock, Cam, and Crankshaft Sensors to its OE-engineered Engine Management Sensor line, offering genuine OE replacement parts for various vehicle models. This expansion addresses the increasing demand for high-quality, precise engine components, ensuring improved vehicle performance and reliability.
In May 2023, Tomei unveiled its forged billet crankshaft tailored for the Nissan VR38DETT engine, boasting a 94.4mm stroke, 56mm crank pin, and 65mm main journal. Crafted from EN40B material with five counterweights, it offers durability and precision, catering to enthusiasts seeking enhanced engine dynamics and reliability.
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♦ Market Segmentation: In-Depth Analysis:
by Crankshaft
Flat Plane
Cross Plane
Due to their extensive use in the majority of internal combustion engines, cross-plane crankshafts are the market leader in the automotive crankshaft industry. Cross-plane crankshafts are the favored option for mainstream automobiles because they provide smoother engine running and greater NVH (Noise, Vibration, and Harshness) regulation than flat-plane versions. Flat-plane crankshafts are becoming more and more popular, especially in high-performance and sports vehicle applications where their improved high-end power delivery and lightweight design are prized.
by Material Type
Cast Iron
Forged Steel
Others
by Vehicle
Commercial Vehicles
Passenger Vehicles
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♦ Market Key Players : In-Depth Analysis:
Key Players in North America:
1. NSI Crankshaft (Headquarters: Illinois, USA)
2. Crower Cams & Equipment (Headquarters: California, USA)
3. Bryant Racing Inc (Headquarters: California, USA)
Key Players in Europe:
4. Arrow Precision (Headquarters: Northamptonshire, United Kingdom)
5. Maschinenfabrik ALFING Kessler GmbH (Headquarters: Germany)
6. ThyssenKrupp Crankshaft Company LLC (Headquarters: Stuttgart, Germany)
7. Rheinmetall (Headquarters: Düsseldorf, Germany)
8. Sandvik(Headquarters: Stockholm, Sweden)
9. Cigueñales Sanz SL (Headquarters: Spain)
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