PUBLISHER: The Business Research Company | PRODUCT CODE: 1392461
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392461
“Automotive Crankshaft Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive crankshaft market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive crankshaft? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automotive crankshaft market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The automotive crankshaft plays a crucial role in converting the force generated by combustion into the circular motion necessary to propel a vehicle. Positioned at the engine's bottom, this heavy-duty component is typically constructed from steel or iron. It is connected to the bases of pistons through connecting rods that attach to crank pins positioned at zig-zag offsets from the crankshaft's centerline. This configuration enables the vertical movement of the pistons to rotate the crankshaft, generating rotational energy.
The main types of automotive crankshafts include flat planes and cross-planes. The flat-plane crankshaft tends to achieve higher revolutions compared to its cross-plane counterpart because each crankpin journal (the components to which connecting rods attach) is spaced at 180-degree intervals. Various materials are used, including forged iron and steel, cast iron and steel, among others. Additionally, automotive crankshafts are employed in different vehicle types such as heavy commercial vehicles, light commercial vehicles, luxury vehicles, passenger vehicles, sport utility vehicles, multi-utility vehicles, and others.
The automotive crankshaft market research report is one of a series of new reports from The Business Research Company that provides automotive crankshaft market statistics, including automotive crankshaft industry global market size, regional shares, competitors with an automotive crankshaft market share, detailed automotive crankshaft market segments, market trends and opportunities, and any further data you may need to thrive in the automotive crankshaft industry. This automotive crankshaft market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive crankshaft market size has grown steadily in recent years. It will grow from $4. 61 billion in 2023 to $4. 77 billion in 2024 at a compound annual growth rate (CAGR) of 3. 4%. The growth in the historic period can be attributed to the increasing demand for automobiles, industrialization, and mass production. It aligns with global economic growth, the evolution of automotive design, and a growing demand for high-end performance vehicles.
The automotive crankshaft market size is expected to see steady growth in the next few years. It will grow to $5. 57 billion in 2028 at a compound annual growth rate (CAGR) of 4. 0%. The growth in the forecast period can be attributed to the transition to electric vehicles, an emphasis on fuel efficiency, the integration of smart and connected technologies, sustainable manufacturing practices, and the shift towards autonomous vehicles. Major trends in the forecast period include the adoption of lightweight materials, a growing focus on the circular economy, the use of 3D printing in manufacturing, increased utilization of data analytics in design, and an emphasis on energy-efficient solutions.
The automotive crankshaft market is experiencing significant growth due to the adoption of new emission standards mandated by regulatory bodies worldwide. These evolving emission guidelines aim to curtail pollution levels, compelling automotive crankshaft manufacturers to develop more optimized components. The crankshaft plays a pivotal role in internal combustion engines, directly impacting emissions. For instance, the Indian government's mandate in April 2020, as reported by the Hindu Business Line, enforced BS-VI guidelines for vehicles to drastically reduce pollution. Consequently, this move is anticipated to drive the automotive crankshaft market's growth, as manufacturers strive to meet the stringent emission standards.
Anticipated growth in vehicle production stands as a substantial catalyst propelling the automotive crankshaft market. As vehicles serve as mechanical devices designed for transportation, the automotive crankshaft, a critical component within internal combustion engines, converts reciprocating motion into rotational motion to power vehicles. For example, data from the European Automobile Manufacturers Association (ACEA) reported a global production of 85. 4 million motor vehicles in 2022, marking a significant 5. 7% increase from the previous year. This escalating vehicle production trend directly influences the automotive crankshaft market's growth trajectory.
Prominent companies within the automotive crankshaft market are introducing new crankshaft variants to meet the heightened demand for this aftermarket product. The crankshaft, a specific component crucial in piston engines, converts piston motion into rotational motion. For instance, in September 2023, Monedero, a Spain-based automotive components and accessories provider, launched the initial version of the OM471LA crankshaft, addressing substantial aftermarket demand. This release fills a notable gap, as no aftermarket alternative met the requisite standards prior to this launch. The OM471LA crankshaft, designed for Mercedes Benz and other compatible models, bears the reference number 10011000051, aligning equivalently with original Mercedes Benz references like A4710300101, A47110300201, and A4710300401, catering to specific model applications.
Leading companies within the automotive crankshaft market are expanding their aftermarket parts portfolios, notably incorporating crankshaft speed sensors to enrich their product offerings. These sensors, also referred to as crankshaft position sensors, serve as electronic devices integral to internal combustion engines, monitoring the crankshaft's speed, position, and occasionally its rotational direction. For instance, in 2022, Robert Bosch, a distinguished Germany-based engineering and technology firm, introduced an automotive aftermarket parts portfolio featuring 212 new components. This portfolio encompassed various components such as braking parts, fuel and water pumps, ignition coils, cooling fans, rotating machines, spark plugs, ESP units, sensors, and fuel injectors. The addition of crankshaft sensors within this comprehensive range emphasizes Bosch's commitment to enhancing vehicle performance and reliability. These products cater to diverse vehicle models, extending their service life and optimizing performance. The newly launched crankshaft speed sensor by the company serves as a critical element within engine management systems, delivering precise data on the crankshaft's speed and position. It facilitates functionalities like start-stop features, ensuring smoother engine operation while concurrently reducing fuel consumption and emissions.
In October 2021, MM Forgings Ltd., an India-based steel forgings company, completed the acquisition of Cafoma Auto Parts for an amount totaling $4. 4 million. MM Forgings' strategic objective involves ramping up production to achieve a target output of 60,000 machined crankshafts monthly, aspiring to become a comprehensive crankshaft supplier across diverse industries. This expansion includes catering to sectors such as commercial vehicles, automotive, farm equipment, exports, industrial, and marine applications. The acquisition of Cafoma Auto Parts, an India-based entity specializing in manufacturing engine components, particularly automotive crankshafts, aligns with MM Forgings' vision of expanding its portfolio and capabilities in the production of essential engine parts for various industries.
Major companies operating in the in the automotive crankshaft market report are Arrow Precision Ltd., Maschinenfabrik ALFING Kessler GMBH, Nippon Steel Integrated Crankshaft LLC, Tianrun Crankshaft Co. Ltd., ThyssenKrupp AG, Bharat Forge Ltd., Crower Cams & Equipment Co. Inc., Farndon Engineering Ltd., Chad Bryant Racing LLC, Ciguenales Sanz SL, Metalyst Forgings Ltd., CIE Automotive India Ltd., Kellogg Crankshaft Company, Amtek Group, Mahindra CIE Automotive Ltd., Rheinmetall AG, Sandvik AB, Mahle GmbH, Poole Construction Company Limited, Kalyani Group, TFO Tech Co Ltd., CTP Sinto America LLC, Cooper Corporation, BMV Precision Engineering, Balu Forge Industries Ltd., GKN plc, Kolbenschmidt Pierburg AG, Federal-Mogul LLC, Asahi Kasei Corporation, Daido Metal Company, Toyoda Koki Co Ltd., Miba AG, SNC Manufacturing Company Inc.
Europe was the largest region in the automotive crankshaft market in 2023. The regions covered in the automotive crankshaft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the automotive crankshaft market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The automotive crankshaft market consist of sales of cast, forged and billet crankshafts. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.