PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1684402
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1684402
Automotive Crankshaft Market size was valued at US$ 5,678.76 Million in 2024, expanding at a CAGR of 3.4% from 2025 to 2032.
An automotive crankshaft is an essential component of an engine, tasked with transforming the linear motion generated by the pistons into rotational motion, which ultimately propels the vehicle's wheels. It is vital for maintaining smooth engine performance and effective power transmission. Automotive crankshafts are designed with various specifications, including precise dimensions, superior surface finish, robust construction, high strength, exceptional functionality, outstanding performance, and minimal maintenance requirements. They are extensively utilized in the automotive industry, contributing to improved torque and durability. Additionally, these crankshafts find applications in industrial sectors, as they are manufactured from high-grade materials such as steel and incorporate advanced technologies.
Automotive Crankshaft Market- Market Dynamics
An increase in global demand for automobiles is projected to propel market growth.
Global automobile production is on the rise, particularly in developing regions such as China, India, and Southeast Asia. The increasing demand for both passenger and commercial vehicles is driving the necessity for high-performance crankshafts. Automakers are prioritizing the use of lightweight materials to enhance fuel efficiency and minimize emissions. According to the International Energy Agency (IEA), global electric vehicle sales surpassed 3 million units in 2020, accounting for over 4% of total vehicle sales. By 2023, this number was projected to have increased to 14 million. Additionally, the growth of commercial and heavy-duty vehicles, along with advancements in crankshaft manufacturing, may present significant opportunities for market expansion. However, stringent emission regulations could pose challenges to this growth.
Automotive Crankshaft Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 3.4% over the forecast period (2025-2032)
Based on product type segmentation, Cross Plane was predicted to show maximum market share in the year 2024
Based on Material Type segmentation, Forged Steel was the leading Material Type in 2024
Based on region, North America was the leading revenue generator in 2024
The Global Automotive Crankshaft Market is segmented based on Product Type, Material Type, Vehicle, and Region.
The market is segmented into three distinct categories according to product type: Flat Plane, Cross Plane, and Modular. The Cross Plane category currently dominates the market. The Automotive Crankshaft Market is undergoing significant changes driven by improvements in engine performance, durability, and fuel efficiency. A cross-plane crankshaft is typically utilized in V8 engines and certain high-performance motorcycles. This design incorporates four crankpins arranged at 90-degree intervals, which facilitates smoother operation and minimizes vibrations when compared to flat-plane crankshafts. Cross-plane crankshafts are particularly prevalent in American muscle cars, such as the Ford Mustang GT, Dodge Challenger, and Chevrolet Corvette, owing to their distinctive deep sound.
The market is categorized into two segments based on Material Type: Cast Iron, Forged Steel, and Others, with Forged Steel being the predominant material. The Automotive Crankshaft Market is experiencing growth driven by the rising demand for fuel-efficient and high-performance internal combustion engine (ICE) vehicles. Crankshafts play a crucial role in engines by transforming the reciprocating motion of pistons into rotational motion, which powers the vehicle's drivetrain. Forged steel crankshafts are preferred in high-performance and heavy-duty applications due to their exceptional strength, durability, and fatigue resistance when compared to cast iron or billet crankshafts.
The market is segmented into two primary categories according to Vehicle: Commercial Vehicles and Passenger Vehicles. The Automotive Crankshaft Market is classified based on the type of material utilized, with distinct materials selected for commercial and passenger vehicles, reflecting their specific performance, durability, and cost requirements. Commercial vehicles necessitate crankshafts that are high-strength and durable, capable of enduring greater loads, torque, and extended engine operation. In contrast, passenger vehicles emphasize cost-effectiveness, fuel efficiency, and performance, which significantly influence the selection of crankshaft materials. Despite the increasing adoption of electric vehicles, the demand for crankshafts remains robust in hybrid and internal combustion engine vehicles, especially within the commercial and performance sectors.
Automotive Crankshaft Market- Geographical Insights
North America leads the market, driven by advancements in materials and manufacturing techniques. The region's robust automotive sector, emphasis on lightweight components, and integration of high-performance technologies are key factors in market expansion. North American manufacturers are channeling investments into high-strength forged steel, alloyed materials, and carbon composites to create crankshafts that are both lightweight and durable. The implementation of precision forging, CNC machining, and 3D printing has significantly improved the durability, accuracy, and performance of crankshafts. Meanwhile, the Asia-Pacific region is experiencing the fastest growth, propelled by substantial vehicle production. Countries such as China, India, and Japan are at the forefront due to their high levels of automobile production and demand for commercial vehicles. Europe, while leading in the premium and high-performance vehicle segment, faces challenges in the adoption of electric vehicles.
The Automotive Crankshaft Market exhibits a significant level of competition, characterized by original equipment manufacturer (OEM) suppliers and aftermarket producers prioritizing advancements in materials, precision in manufacturing, and enhancements in performance. This competitive landscape is fueled by rising vehicle production rates, a growing demand for high-performance engines, and a transition towards lightweight and resilient components. Manufacturers are increasingly focused on creating lighter crankshafts to enhance fuel efficiency and minimize emissions. Countries such as China and India are emerging as key centers for crankshaft production, attributed to their cost-effective manufacturing capabilities and substantial vehicle demand. Major global players are actively seeking partnerships with Asian manufacturers to optimize costs.
On June 15, 2023, MM Forgings Ltd. (MMF), a manufacturer of automotive components, announced that its subsidiary, Abhinava Rizel, is set to commence the production of electric vehicle motors with a capacity of up to 100 kilowatts by the end of June, according to a senior executive.