The global automotive cam followers market size was valued at around USD 7.2 billion in 2022 and expected to grow at a CAGR of 3.8% during the forecast period. The global automotive cam followers market refers to the market for cam followers, which are components of an internal combustion engine that are responsible for transmitting motion from the camshaft to the engine’s valves.
Cam followers are crucial for ensuring the proper operation of the engine, and they are used in a wide range of vehicles, from cars and trucks to motorcycles and boats. The market for automotive cam followers includes the manufacturing, distribution, and sale of these components to OEMs (original equipment manufacturers) as well as to aftermarket suppliers and distributors. Factors driving the market include the growing demand for more fuel-efficient and eco-friendly engines, as well as the increasing use of cam followers in high-performance racing engines.
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Market Segmentation:
- Type:
- Roller cam followers
- Flat cam followers
- Needle cam followers
- Yoke cam followers
- Material:
- Steel
- Stainless steel
- Aluminum
- Others
- Sales Channel:
- Original Equipment Manufacturers (OEM)
- Aftermarket
- Vehicle Type:
- Passenger cars
- Light commercial vehicles
- Heavy commercial vehicles
- Geography:
- North America (United States and Canada)
- Europe (United Kingdom, Germany, France, and Rest of Europe)
- Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, and Rest of Middle East and Africa)
Key Players:
- Schaeffler Group
- NTN Corporation
- SKF Group
- NSK Ltd
- RBC Bearings Incorporated
- INA-Wälzlager Schaeffler KG
- JTEKT Corporation
- IKO International Inc
- Emerson Bearing Co
- Comp Cams
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Regional Analysis:
North America: The North American market for automotive cam followers is driven by the presence of a large automotive industry and the demand for fuel-efficient vehicles. The United States is the largest market in the region, with a significant share of the global market. The demand for aftermarket components is also strong in North America.
Europe: Europe is another significant market for automotive cam followers, driven by the demand for high-performance vehicles and the presence of several leading automakers. Germany is the largest market in the region, with a significant share of the global market. The shift towards electric vehicles could potentially impact the growth of the market in Europe.
Asia Pacific: The Asia Pacific market for automotive cam followers is expected to grow at the fastest rate, driven by the increasing demand for vehicles in countries such as China, India, and Japan. The region is also home to several leading automotive manufacturers and suppliers. The growth of the market in Asia Pacific is likely to be driven by the demand for fuel-efficient vehicles and the increasing adoption of electric and hybrid vehicles.
Latin America: The Latin America market for automotive cam followers is relatively small, but it is expected to grow in line with the overall growth of the automotive industry in the region. Brazil is the largest market in the region, with a significant share of the global market.
Middle East and Africa: The Middle East and Africa market for automotive cam followers is also relatively small, but it is expected to grow as the automotive industry in the region continues to develop. The demand for aftermarket components is particularly strong in some markets in the region.
Covid-19 Impact:
The global COVID-19 pandemic has had a significant impact on the automotive industry as a whole, and the automotive cam followers market has not been immune to these effects. During the initial outbreak of the pandemic, many automakers and suppliers were forced to temporarily shut down production facilities, leading to a decline in demand for automotive components including cam followers.
However, as the world has adapted to living with COVID-19, the automotive industry has slowly begun to recover, and the cam followers market is no exception. With the ongoing demand for fuel-efficient engines and the continued use of cam followers in high-performance vehicles, the market is expected to gradually recover in the coming years.
Furthermore, the pandemic has accelerated the shift towards online purchasing channels and contactless deliveries, which could have a positive impact on the aftermarket segment of the cam followers market. As consumers look to maintain and repair their existing vehicles rather than purchase new ones, there may be an increased demand for aftermarket cam followers.
In summary, while the COVID-19 pandemic has undoubtedly had a negative impact on the global automotive cam followers market in the short term, the long-term outlook remains positive, as the demand for fuel-efficient engines and high-performance vehicles continues to drive the market forward.
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