The latest report by IMARC Group titled, “Automotive Camshaft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the automotive camshaft market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global automotive camshaft market size reached US$ 2.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4% during 2023-2028. An automotive camshaft is a rod-like structure that rotates in conjunction with the crankshaft to turn rotational motion into linear motion. It controls the input of fuel and expulsion of exhaust fumes in an internal combustion engine with the help of shaped lobes positioned along with it. It also assists in controlling the amount of air-fuel mixture that has a drastic effect on engine performance at varying speeds. Owing to these properties, automotive camshafts find extensive applications in the automobile industry across the globe.
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Global Automotive Camshaft Market Trends:
The market is primarily driven by the rising production of automobiles and escalating demand for high-performance vehicles. Nowadays, leading automotive companies such as BMW, Audi, Volkswagen and Mercedes-Benz are incorporating the variable valve (VVT) technology in their latest car models, which is escalating the demand for camshafts across the globe. In addition, the implementation of stringent automobile standards introduced by the governing authorities in various countries and the emerging trend of engine downsizing represent another major growth-inducing factor. Moreover, with the increasing investments in infrastructure development, particularly in developing countries, manufacturers are widely producing heavy motor vehicles. This, coupled with the rising popularity of motor-powered electric vehicles (EVs), is positively influencing the market growth.
Competitive Landscape with Key Players:
- Precision Camshafts Ltd. (PRECAM.NS) Mahle LINAMAR CORP (LNR.TO)
- THYSSENKRUPP AG (TYEKF)
- Aichi Forge USA Inc.
- VARROC ENGINEERING (VARROC.NS)
- JD Norman Industries, Inc.
- Estas Camshaft & Chilled Cast
- Crance Cams Inc.
- Engine Power Components Inc.
- Hirschvogel Holding GmbH
- Kautex Textron Gmbh & Co. KG
- Shadbolt Cams
- Comp Performance Group
- Camshaft Machine Company, etc.
Breakup by Manufacturing Technology:
- Cast Camshaft
- Forged Steel Camshaft
- Assembled Camshaft
Breakup by Vehicle Type:
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Breakup by Distribution Channel:
- OEM
- Aftermarket
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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