Press release
Crankshafts Market: Growth Of Passenger Vehicle Segment In Japan Leads To A Surging Demand For Crankshafts
World Crankshafts Market 2021
The crank engine is manufactured using cast iron, since the metal is stronger and handle upto 450 horse power. The preference for high power crankshafts in the Crankshafts Market has encouraged manufacturers to focus on the forged cranks, in which high grade alloy steels are used as they offer greater strength and potential.
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Scope & Regional Forecast of the Crankshafts Market
The Crankshafts Market is driven by the growth in the demand of the automotive sector in the emerging markets and rising demand for performance engines. Automotive sectors are witnessing a high demand for the crankshaft material in regions like China, India, and others. Large spending for commercial vehicles and demand for high end luxury vehicles also propel the market growth.
Europe had the largest share for the Crankshafts Market in 2014 followed by North America. Increasing power purchase of the consumers leads to more demand for the crankshaft connecting rod. The increasing advancements in the automotive engines has led to the spurt in the crankshaft components in Europe. The machined crankshaft has become popular in the market, since it is perfectly balanced. For this reason, it is used in high end sports cars.
Fluctuation in the fuel prices have changed the consumer’s preference towards diesel vehicles from petrol vehicles. This will lead to a surge in the Crankshafts Market. Consumers will go for high performance cars with rising disposable income across the world. This will boost the growth of the crankshaft construction.
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Segmentations & Key Players Involved in the Crankshafts Market
The Crankshafts Market can be broken down into various segmentations on the basis of –
• Product- Engine crankshafts, for oilfield, well service, stimulation, fracture and mud pumps, Pump crankshafts, and Compressor crankshafts.
• Application- Vehicles, Oil&Gas Industry, Mining Industry, Paper/Textile Industry, Construction Machinery, and Railroad and Marine Industry.
• Region- USA, Europe, Japan, China, India, and South East Asia.
Some of the key players involved in the Crankshafts Market are as follows:
• ThyssenKrupp
• NSSMC(ICI)
• Ellwood Crankshaft Group (ECG)
• Atlas Industrie
• Darcast
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