The automotive camshaft market is predicted to grow at a CAGR of 4.7% over the forecast period, according to FMI’s analysis. The industry’s estimated value is predicted to increase from US$ 3.5 Billion in 2023 to US$ 5.6 Billion by 2033.
Germany is a significant player in the European automotive sector, with key vehicle manufacturers such as Mercedes-Benz and Volkswagen. As the vehicle market in Germany grows, so does demand for components such as automotive camshafts. Demand for automotive camshafts in Germany is expected to grow at a CAGR of 3.3% from now until 2034.
Camshaft manufacturers are improving their materials and designs to create lighter, better-functioning camshafts. The usage of these next-generation camshafts improves fuel economy and lowers pollution.
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Key Takeaways from the Automotive Camshaft Industry:
- China is projected to rank topmost in the automotive camshaft market over the forthcoming years, attaining a market value of US$ 1.6 Bn by 2033. Several factors working in the favor of market include rise in discretionary income, change in lifestyle choices, and economic growth of the country.
- The U.S. automotive camshaft industry bagged second position, in respect to market value. The U.S. market is expected to be worth US$ 651.8 Mn by 2033 end. The market is positively influenced by the availability of major players in the country and new launches in the market.
- Over the coming years, India is forecast to leap forward at a CAGR of 6.3%. Due to plenty of opportunities available in Indian marketplace, numerous industry players are keen on getting hold of Indian consumers. Additionally, increasing Indian population and inflating disposable income are also catalyzing market growth.
- Automotive camshafts are expected to find their application mostly in passenger cars. Due to the rapidly selling Passenger Vehicles (PV) on account of enhanced consumer purchase parity, the segment is projected to witness fastest-growth of 8% CAGR in the next 10 years.
- Considerable increase in demand for casted automotive components owing to their dimensional accuracy and smooth surface finishing is anticipated to significantly contribute towards market expansion. The casted automotive components are projected to grow at a CAGR of 4.6%.
New Developments Shaping up the Market:
- In March 2022, Honda Motorcycle & Scooter India (HMSI) unveiled its brand-new Africa Twin Adventure Sports motorcycle in India, available only at Big Wing Topline showroom of Honda. This new bike is powered by Overhead Camshaft (OHC) Type valve system, Parallel Twin engine, and torque. Additionally, the 270-degree offset crankshaft featured in these motorcycles provide responsive acceleration and superior traction for excellent engine performance.
- In June 2022, Suzuki introduced a new teaser of liter-class bike Katana, implying a soon-to-be launch. This bike would give a good fight to the leading current segment- Kawasaki Ninja 1000SX. The motorcycle sports new valve springs and camshaft profiles. The engine is teamed up with a 6-speed gearbox having a slipper clutch, an assist, and a bi-directional quickshifter.
- In 2019, NGK SPARK PLUGS, a global manufacturer of ignition and sensors, launched crankshaft and camshaft sensors in Europe. This is further expected to open up opportunities for the replacement of Original Equipment (OE) for aftermarket clients.
List encompassing key players of automotive camshaft:
- Mahle GmbH
- JD Norman Industries, Inc.
- Thyssenkrupp AG
- Linamar Corporation
- ESTAS CAMSHAFT & CHILLED CAST
- Crance Cams Inc.
- Aichi Forge USA Inc.
- Engine Power Components Inc.
- Hirschvogel Holding GmbH
- KAUTEX TEXTRON GmbH & Co. KG
- Shadbolt Cams
- Comp Performance Group
- Precision Camshafts Ltd.
- Varroc Group
- Camshaft Machine Company
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Given Below are the Automotive Camshaft Market Segments
Product Type:
- Cast Camshaft
- Forged Camshaft
- Assembled Camshaft
Vehicle Type:
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Sales Channel:
- Original Equipment Manufacturer (OEM)
- Aftermarket
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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