Press release
Automotive Crankshaft Market Top Key Players, Industry Analysis And Forecast By 2033
Automotive Crankshaft Market
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 transition to electric vehicles, emphasis on fuel efficiency, integration of smart and connected technologies, sustainable manufacturing practices , shift towards autonomous vehicles. Major trends in the forecast period include lightweight materials adoption, growing focus on circular economy, 3d printing in manufacturing, increased use of data analytics in design, emphasis on energy-efficient solutions.
Market Overview -
The automotive crankshaft transforms the force generated by combustion into circular motion in the engine required to propel a vehicle. The crankshaft is a heavy-duty component located at the engine's bottom and is typically constructed of steel or iron. It is connected to the pistons' bases through connecting rods that attach to crank pins at zig-zag offsets from the crankshaft's centerline. This arrangement allows the pistons' vertical movement to spin the crankshaft and generate rotational energy.
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New Emission Standards Driving Growth In The Automotive Crankshaft Market
The adoption of new emission standards is significantly contributing to the growth of the automotive crankshaft market. The regulatory bodies of various countries are coming up with new emission guidelines to reduce pollution. The imposed mandatory emission control is directing automotive crankshaft manufacturers to manufacture more optimized crankshafts to fulfil production demand as it is a vital component of the internal combustion engine that is directly linked to emissions. For instance, according to the Hindu Business Line, a financial and business daily newspaper, the Indian government made it mandatory to follow BS-VI guidelines for vehicles from April 2020 to reduce pollution drastically. Hence, the adoption of new emission standards is expected to propel the growth of the automotive crankshaft market going forward.
Competitive Landscape -
Major companies operating 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.
New Crankshafts To Fulfill The High Demand For This Aftermarket Product
Major companies operating in the automotive crankshaft market are launching new crankshafts to fulfill the high demand for this aftermarket product. Crankshaft is a specific product designed for use in a piston engine to convert the reciprocating motion of the piston into rotational motion. For instance, in September 2023, Monedero, a Spain-based provider of components and accessories for the automotive, launched the first version of the OM471LA crankshaft, fulfilling a significant demand in the aftermarket. Prior to this, no aftermarket company could provide an alternative to the original references that met customer requirements. The reference for the OM471LA crankshaft is 10011000051, which is equivalent to the original Mercedes Benz references: A4710300101, A47110300201, and A4710300401. Notably, the OM471LA crankshaft designed for Mercedes Benz and other relevant model applications.
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Key Segments -
The automotive crankshaft market covered in this report is segmented -
1) By Type: Flat Plane, Cross Plane
2) By Material: Forged Iron Or Steel, Cast Iron Or Steel, Other Materials
3) By Vehicle Type: Heavy Commercial Vehicles, Light Commercial Vehicles, Luxury Vehicles, Passenger Vehicles, Sport Utility Vehicles, Multi Utility Vehicles, Other Vehicle Types
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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