Press release
Automotive Crankshaft Market: Rapid Expansion of Automotive Industry thrives on Market Demand
To do this, the report conducts a detailed segmentation of the global automotive crankshaft market. The criteria used for this segmentation are: crankshaft material, vehicle type, crankshaft type, and geography. The types of vehicles studied to understand crankshaft trends and usage in each type are: heavy commercial, sports utility, light commercial, passenger, and multi utility vehicles. Likewise, the following types of crankshafts are studied in the report: cross plane and flat plane. Based on material type, the market for automotive crankshaft has been divided into forged steel, cast iron, and others. Furthermore, the regional markets studied in this report are: North America, Asia Pacific, Europe, and Rest of the World.
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In addition to presented a highly segmented view of the global automotive crankshaft market, the report also studies important performance parameters such as market revenue and sales. All forecasts are provided in US$ for the period between 2015 and 2021.
Overview of the Global Automotive Crankshaft Market
A crankshaft is the core component of an engine given its crucial task of converting pistons’ liner motion into rotational motion that runs a vehicle’s wheels. However, the use of a crankshaft is not limited merely to the automotive industry. It is used in virtually any application where linear motion needs to be converted into rotational motion, such as in industrial machinery and imaging and printing devices.
The soaring demand for automobiles the world over will put the global automotive crankshaft market firmly on course to reaching a valuation of US$2.92 bn by 2021. The market will register a 2.1% CAGR between 2015 and 2021, say TMR’s projections.
The report notes that by type, crankshafts were most widely used in passenger vehicles in 2014 because of the mounting demand for such vehicles from rapidly emerging economies in regions such as Asia Pacific and Latin America. Sales of passenger vehicles have also conventionally remained high, attributable partly to their lower prices.
In terms of type, the demand for flat plane automotive crankshafts was the highest in 2014. Likewise, the demand for crankshafts made using forged steel will remain highest in the near future.
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Europe stood as the largest market for automotive crankshaft as of 2014. Massive activity has been reported from the Asia Pacific automotive crankshaft market in recent years, creating bright prospects for the market in this region. In countries such as India, vehicle production continues to rise year on year, laying a firm foundation for the growth of the automotive crankshaft market in APAC.
Companies Mentioned in the Automotive Crankshaft Market
Companies that have a toehold in the global automotive crankshaft market are: Bhatat Forge Ltd, ThyssenKrupp Crankshaft Company LLC, Amtek Auto Ltd., and NSI Crankshaft.
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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