The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Automotive Crankshaft Global Market Report 2024, the automotive crankshaft market is expected to show significant growth in the forecast period.

The automotive crankshaft market has witnessed a steady rise in its size over recent years. In 2023, it reached $4.61 billion and is projected to grow further to $4.77 billion in 2024, with a compound annual growth rate (CAGR) of 3.4%. Several factors contribute to this growth, including:

• Increasing demand for automobiles
• Industrialization and mass production
• Global economic growth
• Evolution of automotive design
• Growing demand for high-end performance vehicles

View More On The Automotive Crankshaft Market Report 2024 – https://www.thebusinessresearchcompany.com/report/automotive-crankshaft-global-market-report

Anticipated Growth in the Coming Years

Looking ahead, the automotive crankshaft market is expected to continue its upward trajectory. By 2028, it is forecasted to reach $5.57 billion, with a CAGR of 4.0%. Key drivers for this growth include:

• Transition to electric vehicles
• Emphasis on fuel efficiency
• Integration of smart and connected technologies
• Sustainable manufacturing practices
• Shift towards autonomous vehicles

Factors Driving Market Growth

Growth in Vehicle Production
The automotive crankshaft market is heavily influenced by the production of vehicles worldwide. With 85.4 million motor vehicles produced globally in 2022, representing a 5.7% increase from the previous year, the demand for automotive crankshafts is on the rise.

Key Players in the Market
Major companies contributing to the automotive crankshaft market include Arrow Precision Ltd., Maschinenfabrik ALFING Kessler GMBH, Nippon Steel Integrated Crankshaft LLC, and many others. These companies play a significant role in shaping the market landscape and driving innovation.

Expansion through Aftermarket Parts
To enhance their product offerings, major players in the automotive crankshaft market are expanding their aftermarket parts portfolio. For example, Robert Bosch introduced 212 new components in 2022, including crankshaft sensors, aimed at improving vehicle performance and reliability.

Strategic Acquisitions
In October 2021, MM Forgings Ltd. acquired Cafoma Auto Parts for $4.4 million, aiming to expand its capacity to produce machined crankshafts. This acquisition demonstrates a strategic move to cater to various industries, including automotive, commercial vehicles, and marine applications.

Market Segmentation

The automotive crankshaft market is segmented based on:

1. Type: Flat Plane, Cross Plane
2. Material: Forged Iron or Steel, Cast Iron or Steel, Other Materials
3. Vehicle Type: Heavy Commercial Vehicles, Light Commercial Vehicles, Luxury Vehicles, Passenger Vehicles, Sport Utility Vehicles, Multi-Utility Vehicles, Other Vehicle Types

Regional Analysis
Europe emerged as the largest region in the automotive crankshaft market in 2023. This dominance underscores the region’s strong foothold in automotive manufacturing and technological advancements.

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The Automotive Crankshaft Global Market Report 2024  provides an in-depth analysis on the automotive crankshaft market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the automotive crankshaft market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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