Overview and Scope
The automotive crankshaft transforms the force generated by combustion into circular motion in the engine required to propel a vehicle. The crankshaft is a heavy-duty component located at the engine’s bottom and is typically constructed of steel or iron. It is connected to the pistons’ bases through connecting rods that attach to crank pins at zig-zag offsets from the crankshaft’s centerline. This arrangement allows the pistons’ vertical movement to spin the crankshaft and generate rotational energy.
Sizing and Forecast
The automotive crankshaft market size has grown steadily in recent years. It will grow from $4.61 billion in 2023 to $4.77 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to increasing demand for automobiles, industrialization and mass production, global economic growth, evolution of automotive design, growing demand for high-end performance vehicles
The automotive crankshaft market size is expected to see steady growth in the next few years. It will grow to $5.57 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to transition to electric vehicles, emphasis on fuel efficiency, integration of smart and connected technologies, sustainable manufacturing practices , shift towards autonomous vehicles. Major trends in the forecast period include lightweight materials adoption, growing focus on circular economy, 3d printing in manufacturing, increased use of data analytics in design, emphasis on energy-efficient solutions.
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Segmentation & Regional Insights
The automotive crankshaft market covered in this report is segmented –
1) By Type: Flat Plane, Cross Plane
2) By Material: Forged Iron Or Steel, Cast Iron Or Steel, Other Materials
3) By Vehicle Type: Heavy Commercial Vehicles, Light Commercial Vehicles, Luxury Vehicles, Passenger Vehicles, Sport Utility Vehicles, Multi Utility Vehicles, Other Vehicle Types
Europe was the largest region in the automotive crankshaft market in 2023. The regions covered in the automotive crankshaft 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 adoption of new emission standards is significantly contributing to the growth of the automotive crankshaft market. The regulatory bodies of various countries are coming up with new emission guidelines to reduce pollution. The imposed mandatory emission control is directing automotive crankshaft manufacturers to manufacture more optimized crankshafts to fulfil production demand as it is a vital component of the internal combustion engine that is directly linked to emissions. For instance, according to the Hindu Business Line, a financial and business daily newspaper, the Indian government made it mandatory to follow BS-VI guidelines for vehicles from April 2020 to reduce pollution drastically. Hence, the adoption of new emission standards is expected to propel the growth of the automotive crankshaft market going forward.
Key Industry Players
Major companies operating in the automotive crankshaft market report are Arrow Precision Ltd., Maschinenfabrik ALFING Kessler GMBH, Nippon Steel Integrated Crankshaft LLC, Tianrun Crankshaft Co. Ltd., ThyssenKrupp AG, Bharat Forge Ltd., Crower Cams & Equipment Co. Inc., Farndon Engineering Ltd., Chad Bryant Racing LLC, Ciguenales Sanz SL, Metalyst Forgings Ltd., CIE Automotive India Ltd., Kellogg Crankshaft Company, Amtek Group, Mahindra CIE Automotive Ltd., Rheinmetall AG, Sandvik AB, Mahle GmbH, Poole Construction Company Limited, Kalyani Group, TFO Tech Co Ltd., CTP Sinto America LLC, Cooper Corporation, BMV Precision Engineering, Balu Forge Industries Ltd., GKN plc, Kolbenschmidt Pierburg AG, Federal-Mogul LLC, Asahi Kasei Corporation, Daido Metal Company, Toyoda Koki Co Ltd., Miba AG, SNC Manufacturing Company Inc.
The automotive crankshaft market report table of contents includes:
1. Executive Summary
2. Automotive Crankshaft Market Characteristics
3. Automotive Crankshaft Market Trends And Strategies
4. Automotive Crankshaft Market – Macro Economic Scenario
5. Global Automotive Crankshaft Market Size and Growth
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26. South America Automotive Crankshaft Market
27. Brazil Automotive Crankshaft Market
28. Middle East Automotive Crankshaft Market
29. Africa Automotive Crankshaft Market
30. Automotive Crankshaft Market Competitive Landscape And Company Profiles
Top Major Players:
- Arrow Precision Ltd
- Maschinenfabrik ALFING Kessler GMBH
- Nippon Steel Integrated Crankshaft LLC
- Tianrun Crankshaft Co. Ltd
- ThyssenKrupp AG
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