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Rising growth of the automotive sector and also increasing investment in the automotive camshaft companies worldwide is expected to propel the growth of the market. Additionally, the rising trend of the engine downsizing owing to stringent government emission regulations is expected to be a factor for the generation of numerous opportunities for the market players. This is also expected to propel the development of the camshaft with lightweight and advanced capabilities. Increasing sales and production of passenger cars in the developed and developing countries is likely to boost the demand for the camshafts. There is steady growth in the commercial vehicle segment owing to the transformation and use of the advanced camshaft over the conventional camshafts.
Key Market Driver -
The rising sales and production of the passenger cars and trend of the engine downsizing is expected to drive the growth of the market.
Key Market Restraint -
The huge cost of replacement of camshafts is expected to be hamper the growth of the market.
For the better performance of vehicles, it is essential for perfect valve openings by the camshaft. So the camshaft is a crucial part of the automotive. The camshaft is manufactured majorly by chilled cast iron and billet steel material. The huge replacement cost of the camshaft and also the high maintenance cost of the camshaft are expected to restrain the growth of the automotive camshaft market over the forecast period.
Some of the major companies that are present in the automotive camshaft market include MAHLE GmbH, Thyssenkrupp AG, Newman Cams, Piper RS Ltd., Camshaft Machine Company, Schrick, PCL India, among others.
The global automotive camshaft market has been segmented into manufacturing technology, application, and region. By manufacturing technology, the global automotive camshaft market is segmented into cast camshaft, forged camshaft, and assembled camshaft. The cast camshaft segment accounts for the largest market share of the camshaft market owing to ease of machining and low cost. The assembled camshaft segment is expected to show exponential growth in the market over the forecast period. The increased design flexibility of the camshaft coupled with its capabilities to reduce the weight of the camshaft by providing better fuel economy and lesser emissions is likely to drive the growth of this segment in the market.
By application type, further, the market has been segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger car segment holds the market share and is expected to dominate the market over the forecast period. The increasing sales and production of passenger cars in developing countries is expected to drive the market’s growth. The light commercial vehicle segment is also expected to show good growth in the market over the forecast period.
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Geographically, the automotive camshaft market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia-Pacific is expected to dominate this market over the forecast period owing to the increasing production and sales of passenger cars in developing countries such as India and China in this region. North America is also expected to show good growth in the automotive camshaft market over the forecast period. The presence of the major camshaft manufacturing industries in this region is likely to drive the market’s growth in this region. Europe is also expected to show good growth in the automotive camshaft market over the forecast period. The stringent emission regulations in this region are driving the market for the engine downsizing. This factor is expected to propel the growth of the market in this region over the forecast period.
By Manufacturing Technology
By Application Type
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