Global Automotive Crankshaft Market Size By Material (Forged Steel, Cast Iron/Steel), By Type (Flat Plane, Cross Plane), By Vehicle Type (Passenger Car, Commercial Vehicle), By Geographic Scope And Forecast

Automotive Crankshaft Market Size And Forecast

Automotive Crankshaft Market size was valued at USD 2.96 Billion in 2023 and is projected to reach USD 3.54 Billion by 2030 growing at a CAGR of 2.23% from 2024 to 2030. The growing automotive crankshaft demand is a reflection of the overall expansion and evolution of the automotive industry. The demand is driven by factors like vehicle production, engine upgrades, lightweight initiatives, the growth of electric vehicles, aftermarket requirements, emerging markets, and technological advancements. The Global Automotive Crankshaft Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Automotive Crankshaft Market Definition

An automotive crankshaft is a critical component of an internal combustion engine. It is responsible for converting the reciprocating motion of the pistons into rotational motion, which drives the wheels of the vehicle. The crankshaft is located in the engine block and connects to the pistons through connecting rods.

The main function of the crankshaft is to transform the up-and-down motion of the pistons into a circular motion, which is then transmitted to the transmission system, eventually driving the wheels. This conversion of motion is achieved through a series of crank throws and journals along the length of the crankshaft.

The crankshaft is typically made from forged steel or cast iron due to its high strength and durability. It undergoes a complex manufacturing process involving machining, heat treatment, and precision balancing to ensure optimal performance and longevity.

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Global Automotive Crankshaft Market Overview

The Automotive Crankshaft Market refers to the industry involved in the production, distribution, and sale of crankshafts for automobiles. It is a significant segment of the automotive components market, as the crankshaft is a vital component in the functioning of internal combustion engines. The market for automotive crankshafts is driven by the demand for vehicles, including passenger cars, commercial vehicles, and motorcycles. As the global automotive industry continues to grow, the demand for crankshafts also increases. The Automotive Crankshaft Market is influenced by factors such as economic conditions, consumer preferences, technological advancements, government regulations, and environmental concerns. Emerging markets play a crucial role in the Global Automotive Crankshaft Market. Countries like China, India, Brazil, and Southeast Asian nations have experienced rapid economic growth, leading to increased disposable incomes and a growing middle class.

As a result of prospective advancements in crankshaft technology made by some of the leading firms in the auto industry, the size of the global Automotive Crankshaft Market is anticipated to enter a phase of rapid development. An internal combustion engine's crankshaft is the most crucial part because it converts linear motion into the rotating motion that propels the vehicle. Many of the biggest names in the automobile industry have been focusing on developing better crankshaft solutions using cutting-edge materials and technologies. For instance, Honda created a metal 3D-printed car crankshaft in 2020 with the aim of lowering the vehicle's overall weight and enhancing its fuel efficiency. Several factors impact the Automotive Crankshaft Market, Vehicle Production: The production of vehicles directly influences the demand for crankshafts.

Increased vehicle production, particularly in emerging economies, contributes to market growth. Technological Advancements: Advancements in engine technologies, such as downsizing and lightweight, drive the need for crankshafts that can handle higher loads, reduce weight, and improve efficiency. Replacement Demand: Crankshafts may require replacement due to wear and tear or engine failures. Replacement demand contributes to the aftermarket segment of the Automotive Crankshaft Market. The automotive sector has experienced significant growth over the years, driven by various factors including increasing population, rising disposable income, urbanization, technological advancements, and changing consumer preferences.

Global vehicle production has been consistently increasing, with major automotive hubs in countries like China, the United States, Japan, Germany, and India. Emerging markets, especially in Asia, have witnessed substantial growth in vehicle production and sales. The automotive industry is increasingly focusing on lightweighting to improve fuel efficiency and reduce emissions. Lightweight crankshafts made from materials like forged steel or advanced alloys help achieve these goals without compromising strength and durability. While electric vehicles (EVs) use electric motors instead of internal combustion engines, there is still a demand for crankshafts in hybrid vehicles, where an internal combustion engine works in conjunction with an electric motor. Moreover, there is a need for crankshafts in range extenders, which are small internal combustion engines used to charge the batteries in some EVs.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Automotive Crankshaft Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter's Five Forces

The image provided would further help to get information about Porter's five forces framework providing a blueprint for understanding the behavior of competitors and a player's strategic positioning in the respective industry. Porter's five forces model can be used to assess the competitive landscape in the Global Automotive Crankshaft Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Global Automotive Crankshaft Market Segmentation Analysis

The Global Automotive Crankshaft Market is segmented on the basis of Material, Type, Vehicle Type, and Geography.

Automotive Crankshaft Market, By Material

• Forged steel
• Cast iron/steel
• Machined billet

Based on Material, the market is segmented into Forged steel, Cast iron/steel, and Machined billet. Due to its greater strength and improved fatigue resistance, the forged steel segment is anticipated to dominate the market over the forecast period.

Automotive Crankshaft Market, By Type

• Flat Plane
• Cross Plane

Based on Type, the market is segmented into Flat Plane and Cross Plane. Due to its advantages over other segments, such as improved exhaust scavenging, and being more compact, lighter, and responsive, the flat plane type sector is anticipated to dominate the market over the forecasted period.

Automotive Crankshaft Market, By Vehicle Type

• Passenger Car
• Commercial Vehicle

Based on Vehicle Type, the market is segmented into Passenger Car and Commercial Vehicle. During the projection period, the passenger cars segment is anticipated to have a considerable CAGR. The factors are related to the worldwide increase in the demand for passenger vehicles. The demand for passenger vehicles is particularly rising in developing countries like China and India, which has accelerated the segment's rise during the anticipated term.

Automotive Crankshaft Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
• On the basis of Geography, the Global Automotive Crankshaft Market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. However, the Asia Pacific region is expected to grow with significant CAGR during the forecasted period, as increasing disposable income is lifting up the consumer's purchasing power in Asia Pacific regions.

Key Players

• The "Global Automotive Crankshaft Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are
• Arrow Precision, Maschinenfabrik ALFING Kessler, Rheinmetall, NSI Crankshaft, Sandvik, Tianrun Crankshaft, Thyssenkrupp, Bharat Forge, Crower Cams & Equipment, Farndon Engineering, and Others.

Our market analysis contains a section exclusively devoted to such significant firms, where our experts provide a summary of each company's financial statements as well as product benchmarking and SWOT analysis. The competitive landscape section also includes the key development strategies, market share analysis, and market positioning analysis of the aforementioned competitors internationally.

• Ace Matrix Analysis
• The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as
• Active, Cutting Edge, Emerging, and Innovators.