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Newark, May 23, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global automotive crankshaft market is expected to grow from USD 2.9 billion in 2021 to USD 3.6 billion by 2030, at a CAGR of 2.6% during the forecast period 2022-2030.
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The automotive crankshaft market is being driven by the increasing demand for high-performance commercial and passenger vehicles. However, there were disruptions in the automotive crankshaft market due to the outbreak of Covid-19. Several automotive manufacturing units were temporarily closed due to the lockdown restrictions imposed to stop the spread of the coronavirus. Several research and development activities to improve the quality and performance of the crankshaft in vehicles are expected to boost the growth of the market during the forecast period. But the high replacement cost of the crankshafts is a challenge for the market's growth as it increases the expenditure of the consumer on vehicles.
Competitive Strategy
To enhance their market position in the global automotive crankshaft market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
● In 2021, M3 and M4 high-performance cars were introduced by BMW, with naturally-aspirated engines. The crankshaft used in these cars is forged from chrome molybdenum which is heat-treated steel. The crankshaft was connected spherically with crankpins to allow the smooth movement of bearings.
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| Parameters | The Brainy Insights |
| Base year | 2022 |
| Forecast period | 2023 to 2030 |
| Representation | Revenue (USD million) |
| Detailed Type Segmentation | ✔ |
| Detailed Application Segmentation | ✔ |
| Detailed End-User Segmentation | ✔ |
| Post Sale Queries | ✔ |
| Company profiles of key manufacturers | ✔(Additional 8-10 companies) |
| Customization | ✔(As per your requirement) |
Market Growth & Trends
An automotive crankshaft is a mechanical device used in the engine of vehicles. A crankshaft is an essential part of any vehicle as it converts the linear motion of the piston into a rotary motion for transmission of motion power. Apart from the automotive industry, the crankshaft is also widely used in machinery and printing devices. The size of the global automotive crankshaft market is expected to increase owing to the rapid development in the automotive sector and potential improvements in the technology of crankshaft by some of the prominent players in the automotive sector. Several research and development activities are being carried out to improve the quality and performance of the crankshaft by some of the leading giants of the automotive industry.
Key Findings
● In 2021, the flat plane segment dominated the market with a market share of around 68% and market revenue of 1.9 billion.
The product type segment is divided into flat plane and cross-plane. In 2021, the flat plane segment dominated the market with a market share of around 68% and market revenue of 1.9 billion. Flat plane crankshafts have a simple design that can be repaired easily, this drives the growth of the segment.
● In 2021, the forged steel segment accounted for the largest share of the market, with 47% and a market revenue of 1.3 billion.
The material type segment is divided into forged steel, cast iron/steel, and machined billet. In 2021, the forged steel segment accounted for the largest share of the market, with 47% and market revenue of 1.3 billion. Crankshafts made from forged steel offer high strength and better fatigue resistance which increases the demand for crankshafts made from forged steel.
● In 2021, the passenger vehicle segment accounted for the largest share of the market, with 62% and a market revenue of 1.7 billion.
The vehicle type segment is divided into passenger vehicles and commercial vehicles. In 2021, the passenger vehicle segment accounted for the largest share of the market, with 62% and a market revenue of 1.7 billion. Passenger vehicles are high in demand due to the rising demand for comfortable transportation. The increasing urge for passenger vehicles, including cars, drives the growth of the market.
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Regional Segment Analysis of the Automotive Crankshaft Market
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the Asia Pacific region emerged as the largest market for the global automotive crankshaft market, with a market share of around 39.6% and 1.1 billion of the market revenue in 2021. The region has the presence of prominent manufacturers of automobiles which drives the growth of the market in the region. Along with this, the increasing demand for high-performance cars in countries like China is also driving the growth of the market in the region.
Key players operating in the global automotive crankshaft market are:
● Maschinenfabrik ALFING Kessler
● Sandvik
● TIANRUN CRANKSHAFT
● Rheinmetall
● NSI Crankshaft,
● Thyssenkrupp
● Farndon Engineering
● Kellogg Crankshaft Company
● Bharat Forge
● Crower Cams & Equipment
This study forecasts revenue at global, regional, and country levels from 2022 to 2030. Brainy Insights has segmented the global automotive crankshaft market based on the below-mentioned segments:
Global Automotive Crankshaft Market by Product Type:
● Flat Plane
● Cross Plane
Global Automotive Crankshaft Market by Material Type:
● Forged steel
● Cast Iron/Steel
● Machined Billet
Global Automotive Crankshaft Market by Vehicle Type:
● Passenger Vehicles
● Commercial Vehicle
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About the report:
The global automotive crankshaft market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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