The automotive camshaft market size is expected to see steady growth in the next few years. It will grow to $3.98 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to the electrification of vehicles, integration of advanced engine technologies, adoption of Industry 4.0 and automation, growth in automotive markets, and rising aftermarket demand due to vehicle aging and maintenance needs. Major trends in the forecast period include a shift towards electric vehicles (EVs), advancements in material technology, the integration of variable valve timing (VVT), a focus on performance and efficiency, and the rise of autonomous and connected vehicles.
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Segmentation & Regional Insights
The automotive camshaft market covered in this report is segmented –
1) By Type: Cast Camshaft, Forged Camshaft, Assembled Camshaft
2) By Vehicle Type: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
3) By Fuel Type: Gasoline, Diesel
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
North America was the largest region in the automotive camshaft market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive camshaft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing vehicle production is expected to propel the growth of the automotive camshaft market going forward. Innovations in automotive technology, such as electric vehicles (EVs), autonomous driving, and improved fuel efficiency, are driving growth. These advancements make vehicles more attractive to consumers and encourage production to meet new demand. Automotive camshafts are critical for controlling the timing and operation of engine valves, thereby ensuring efficient combustion and power generation in vehicles produced in higher volumes. For instance, in February 2023, according to CEIC Data, a China-based data and analytics provider company, motor vehicle production in the United States reached 10.61 million units, marking an increase from 10.05 million units in December 2022, reflecting a growth of approximately 5.56% year-over-year in vehicle production. Therefore, increasing vehicle production is driving the growth of the automotive camshaft market.
Key Industry Players
Major companies operating in the automotive camshaft market are ThyssenKrupp AG, Mahle GmbH, Sandvik AB, Linamar Corporation, Nemak S.A.B. de C.V., Kautex Textron GmbH & Co KG, Hirschvogel Holding GmbH, Standard Motor Products Inc., Piper RS Ltd, Riken Corporation, Melling Engine Parts, Varroc Group, Musashi Seimitsu Industry Co. Ltd., Schrick, Aichi Forge USA Inc, Engine Power Components Inc, Crower Cams & Equipment Co., Inc., LACO Camshafts, Camshaft Machine Company, Cloyes Gear & Products Inc., Howards Cams, Seojin Cam Co.Ltd., Newman Cams, ESTAS Camshaft & Chilled Cast, Shadbolt Cams, Nilax Overseas, Comp Performance Group
The automotive camshaft market report table of contents includes:
1. Executive Summary
2. Automotive Camshaft Market Characteristics
3. Automotive Camshaft Market Trends And Strategies
4. Automotive Camshaft Market – Macro Economic Scenario
5. Global Automotive Camshaft Market Size and Growth
…………………………………….
32. Global Automotive Camshaft Market Competitive Benchmarking
33. Global Automotive Camshaft Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Camshaft Market
35. Automotive Camshaft Market Future Outlook and Potential Analysis
36. Appendix
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