Press release
Automotive Cam Followers Market Growth, Forecast and Value Chain 2017-2027
Market for automotive cam followers is expected to maintain positive growth as key manufacturers involved in manufacturing of such components are continuously focused on developing new technology and products, either through advancements in material or manufacturing process. The increasing economic and regulatory pressure on OEMs to develop fuel efficient vehicles is compelling auto manufacturers to invest more in research and development of products and components related to engine management system. Cam followers are made from different materials including carbon steel, stainless steel, urethane, etc. However, over time, further development in cam followers’ material and technology is expected.
Global Automotive Cam Followers Market: Market Dynamics
Mounting pressure on vehicle manufacturers by international regulating authorities such as EPA (Environmental Protection Agency) to reduce emission levels in a vehicle is driving advancements in engine technologies. For instance, regulations driving innovations in engine management systems are anticipated to boost market growth over the forecast period. From a macro-economic point of view, factors such as rising standard of living, increasing disposable income and decreasing tax rates, particularly in developing nations, are expected to surge vehicle sales which will eventually lead to upsurge in sales of automotive cam followers.
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Bedsides this, some of the factors such as prevailing economic fluctuations and uncertainty being experienced by some countries could hamper the growth of the market. Furthermore, high cost of technology may also act as a factor restraining the adoption of high cost products among end-users. Investment in product development is anticipated to be a major trend prevailing in the automotive cam follower market throughout the forecast period.
Global Automotive Cam Followers Market: Segmentation
The global automotive cam followers market can be segmented based on product type, material type, vehicle type and sales channel
By product type, the automotive cam followers market can be classified into:
Flat cam follower
Roller cam follower
Needle cam follower
By material type, the automotive cam followers market can be classified into:
Carbon Steel
Stainless Steel
Chromium Plated
Others
By vehicle type, the automotive cam followers market can be classified into:
Two-wheelers
Passenger Cars
Commercial Vehicles
By sales channel, the automotive cam followers market can be segmented into:
OEM
Aftermarket
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Global Automotive Cam Followers Market: Region-wise Outlook
By region, Asia Pacific is anticipated to dominate the global automotive cam follower market in terms of market share. Demand from the region is anticipated to remain highest throughout the forecast period as the region leads vehicle production in the world. China, India, Japan and South Korea, the major automotive markets in the region, are anticipated to be key contributors to the growth of the automotive cam followers market in Asia Pacific. With key technology providers based out in the region, Western Europe is anticipated to be the next significant market for automotive cam followers. Western Europe is expected to emerge as a hub for research and development in the global automotive cam followers market. In terms of demand for automotive cam followers, North America is expected to stand after Asia Pacific and Western Europe. Latin America, Eastern Europe and Middle East and Africa are anticipated to be next big markets, respectively, in terms of demand for cam followers.
Global Automotive Cam Followers Market: Market Participants
Examples of some of the market participants identified in the global automotive cam followers market are:
Federal-Mogul LLC
Carter Manufacturing Ltd.
RBC Bearings Inc.
AB SKF
Delphi Automotive LLP
National Precision Bearing Group
THK CO., LTD.
Schaeffler Technologies AG & Co. KG
Crower Cams & Equipment Company, Inc.
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