Press release
Automotive Crankshaft Market Is likely to register double digit CAGR during 2021-2031
According to the report, the global automotive crankshaft market is projected to surpass US$ 4.33 Bn by 2031, expanding at a CAGR of 2.23% during the forecast period. Rise in demand for vehicles across the globe is likely to increase the demand for automotive crankshafts.
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Vehicle manufacturers are more concerned about fuel-efficiency and carbon emission across the globe. On the other hand, manufacturers are using durable and lightweight material for automobile components in order to make vehicles more fuel-efficient. This is anticipated to boost the automotive crankshaft market.
Increase in consumer trend toward high performance vehicles is driving the automotive crankshaft market. The crankshaft plays a crucial role in any vehicle to transfer the linear motion of piston to rotational motion in order to move the wheels. Demand for lightweight crankshafts is increasing globally.
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Regional Analysis of Automotive Crankshaft Market
In terms of region, the global automotive crankshaft market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is a notable market for automotive crankshafts due to its high number of on-road vehicles in countries such as China, India, Japan, and South Korea, as well as favorable government norms regarding FDI. Moreover, the automotive crankshaft market in North America is expected to expand significantly due to technological improvements and industrialization. The expansion of steel and automobile sectors in North America has boosted the demand for crankshafts in the region.
Automotive Crankshaft Market Players
Prominent players operating in the global automotive crankshaft market include Bharat Forge Ltd, Amtek Auto Ltd., ThyssenKrupp Crankshaft Company LLC, NSI Crankshaft, Bryant Racing Inc., Arrow Precision, Maschinenfabrik ALFING KESSLER GmbH, Cigueñales Sanz SL, Tianrun Crankshaft Co., Ltd., Mahindra CIE Automotive Ltd., Rheinmetall AG, and Sandvik AB.
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Segmentation
Automotive Crankshaft Market, by Product TypeFlat Plane Crankshaft
Cross Plane Crankshaft
Automotive Crankshaft Market, by MaterialCast Iron
Forged Steel
Automotive Crankshaft Market, by Vehicle TypeTwo/Three Wheelers
Passenger VehicleHatchback
Sedan
Utility Vehicle
Light Duty Vehicle
Medium & Heavy Duty Trucks
Bus & Coaches
Automotive Crankshaft Market, by RegionNorth America
Europe
Asia Pacific
Middle East & Africa
South America
How Automotive Crankshaft Market will recover after covid19-https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=4976
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Transparency Market Research is a Global Market Research Report company providing business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
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