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The increasing demand for high-performance cars is likely to propel the market for the advanced automotive crankshaft. The high demand for automotive crankshaft is expected to witness in developing countries such as India and China, owing to rising sales of commercial vehicles owing to increasing infrastructure construction. The crankshaft in the diesel engine has to serve higher strength and vibrations. Owing to this, many crankshaft manufacturers are developing advanced crankshaft with improved fatigue strength, reliability, and quality. Also, the crankshafts are manufactured with the latest trend of steelmaking processes by materials with high strength, and this factor is also expected to drive the automotive crankshaft market.
Key Market Driver -
The increasing demand for the high performance vehicles is expected to drive the growth of the market.
Key Market Restraint -
The high replacement cost of the crankshaft is expected to be hamper the growth of the market.
The increasing sales of high-performance cars globally are also expected to drive the growth of the automotive crankshaft market over the forecast period. The rising demand for high-end sports cars in Europe is likely to boost the market for the automotive crankshaft. The high replacement cost and high maintenance of the crankshaft are expected to restrain the growth of the crankshaft market over the forecast period.
The global automotive crankshaft market has been segmented into type, material, vehicle type, and region. By type, the global automotive crankshaft market is segmented into a flat plane and cross-plane. The flat plane type segment is expected to dominate the market over the forecast period owing to its capabilities, such as better exhaust scavenging, more compact, lighter, and more responsive. The cross-plane type segment is also expected to show good growth in the market over the forecast period owing to its capabilities vibration free-performance. By material, further, the market has been segmented into cast steel and forged iron/steel. The forged steel segment is expected to dominate the market over the forecast period owing to its higher strength and also better fatigue resistance. Based on vehicle type, further, the market has been segmented into passenger cars and commercial vehicles. The commercial vehicle segment is expected to show good growth in the market over the forecast period.
Some of the major companies that are present in the automotive crankshaft market include Thyssenkrupp AG, Nippon Steel Integrated Crankshaft LLC, Braynt Racing Inc., Arrow Precision Ltd., Maschinenfabrik Alfing Kessler GmbH, Mahindra CIE, Tianrun Crankshaft Co., Ltd., among others.
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Geographically, the Automotive Crankshaft market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Europe is expected to dominate this market over the forecast period. The growing advancement in the automobile engines in this region is expected to propel the growth of the market.
North America is also expected to show good growth in the automotive crankshaft market over the forecast period. The growth of automobile industries in this region is likely to drive the market’s growth.
Asia-Pacific is also expected to show good growth in the automotive crankshaft market over the forecast period. The growing demand for high-performance cars in this region, especially from China, is likely to drive the market’s growth.
By Vehicle type
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