Automotive Crankshaft Market 2023 Industry Insights and Opportunity 2032 - Top Manufacturers as Maschinenfabrik ALFING Kessler, Sandvik

As per the report published by The Brainy Insights, the global automotive crankshaft market is expected to grow from USD 2.9 billion in 2021 to USD 3.6 billion by 2030, at a CAGR of 2.6% during the forecast period 2022-2030. The Asia Pacific emerged as the largest market for the global automotive crankshaft market, with a 39.6% share of the market revenue in 2021. The Asia Pacific currently dominates the automotive crankshaft market due to prominent automotive manufacturers in the Asia Pacific countries like Japan, China, and India. The large pool of population in the Asia Pacific region also propels the market's growth in the region.

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The automotive crankshaft market refers to the industry involved in the production, distribution, and use of crankshafts for automotive applications. The crankshaft is a key component in an internal combustion engine, responsible for converting the reciprocating motion of the pistons into rotational motion. It plays a critical role in the engine's operation and performance. Here are some key points about the automotive crankshaft market:

Types of Crankshafts: Crankshafts can be categorized based on their materials, design, and application. Common materials used for crankshaft manufacturing include cast iron, forged steel, and nodular iron. Crankshafts can also be classified as single-piece or assembled types, depending on their construction method.
Automotive Applications: Crankshafts are primarily used in internal combustion engines for automobiles, including passenger cars, light commercial vehicles, heavy-duty trucks, and motorcycles. They are crucial for converting the linear motion of the pistons into the rotary motion required to drive the vehicle's wheels.
Market Drivers: The demand for automotive crankshafts is driven by factors such as the growth of the automotive industry, increasing vehicle production, technological advancements, and stringent emission regulations. As engine designs evolve to meet higher efficiency and emission standards, crankshafts need to be designed and manufactured to withstand higher power and torque requirements.

Regional Market Growth: The automotive crankshaft market is influenced by regional dynamics, with key markets including North America, Europe, Asia Pacific, and emerging economies. The growth of the automotive industry in these regions, coupled with rising vehicle ownership and production, contributes to the demand for crankshafts.

Material and Manufacturing Advancements: Continuous efforts are being made to enhance the performance and durability of automotive crankshafts. Manufacturers are exploring advanced materials and manufacturing techniques to improve strength, reduce weight, and minimize vibrations. For example, the use of lightweight materials like forged steel and advanced heat treatment processes can enhance the performance of crankshafts.
Competitive Landscape: The automotive crankshaft market is highly competitive, with several global and regional players operating in the industry. Key manufacturers include Maschinenfabrik ALFING Kessler, Sandvik, TIANRUN CRANKSHAFT, Rheinmetall, NSI Crankshaft, Thyssenkrupp, Farndon Engineering, Kellogg Crankshaft Company, Bharat Forge, Crower Cams & Equipment. These companies are involved in the production and supply of crankshafts to automotive OEMs and the aftermarket.

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Technology Trends: The automotive industry is witnessing various technological trends that impact the crankshaft market. This includes the rise of electric vehicles (EVs) and hybrid vehicles, which have different propulsion systems and may require modified or specialized crankshaft designs. Additionally, advancements in additive manufacturing (3D printing) and composite materials are being explored for lightweight and high-performance crankshaft applications.
It's important to note that the automotive crankshaft market is closely linked to the overall automotive industry's performance, vehicle production, and technological advancements. To obtain the most accurate and up-to-date information on the market, it is recommended to refer to industry reports, market research, and expert analysis specific to the desired region or segment of the automotive sector.

The product type segment is divided into flat plane and cross plane. The flat plane segment dominated the market with a market share of around 68% in 2021. Flat plane crankshafts provide better exhaust scavenging, which drives the segment's growth. The material type segment is divided into forged steel, cast iron/steel, and machined billet. Over the forecast period, the forged steel segment is expected to grow at the fastest CAGR of 3.6%. Forged steel is a durable material, and crankshafts made from forged steel last longer, driving the segment's growth. The vehicle type segment is divided into passenger vehicles and commercial vehicles. In 2021, the passenger vehicles segment dominated the market accounting for around 1.7 billion. The increasing need for accessible transportation facilities is driving the segment's growth as people in developing economies purchase passenger vehicles to make their traveling easy and convenient.
The increasing demand for commercial and passenger vehicles because of the rise in purchasing power of the consumers is driving the growth of the market. Further, the automotive industry's technological advancement is anticipated to add impetus to the market during the forecast period. However, the outbreak of the Covid-19 pandemic affected the market's growth as several manufacturing units were put on hold, and there was a shortage of labor because of the lockdown restrictions imposed, which disrupted the supply chain of the automotive crankshaft restraining the growth of the market.

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