“Automotive Crankshaft Market: Global Demand Analysis & Opportunity Outlook 2024”
The global automotive crankshaft market is segmented into vehicle type such as heavy commercial vehicles, light commercial vehicles, luxury vehicles, passenger vehicles, sport utility vehicles, multi utility vehicles and others. Among these segments, heavy commercial vehicles segment is projected to mark a notable CAGR during the forecast period. Likely, growing number of heavy commercial vehicles on the back of increased transportation is predicted to foster the growth of global heavy commercial vehicles market. Moreover, continuous development of automobile sector is envisioned to propel the growth of automotive crankshaft market.
Global automotive crankshaft market is projected to post a noteworthy CAGR of 2.2% over the forecast period i.e. 2017-2024. Additionally, the market is riding on the back of growing automotive industry all over the globe. Moreover, the global automotive crankshaft market is anticipated to account notable revenue of USD 3.2 Billion by the end of 2024.
The forged steel segment by crankshaft material is captured the biggest segment in overall automotive crankshaft market. In 2016, highest demand for automotive crankshaft was seen from Asia-Pacific region. The growth in the region is anticipated to be fostered by the increasing purchasing power of the consumers which have given boost to the automobile market and overall sales of the vehicles. In 2016, China and Japan are two of the most prominent market in the region.
Increasing Demand for Automobiles
Rising demand for automobiles in emerging economies such as China, India, and others is one of the key growth drivers of global automotive crankshaft market. Moreover, global automotive industry is booming on the account of urbanization and rising disposable income. This massive growth of automotive industry is growing the automotive crankshaft market all over the globe.
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Technological advancement in the field of automotive crankshaft such as introduction of light weight automotive crankshaft and rising adoption of two-wheeler by the population are some of the major factors supplementing the market of automotive crankshaft all over the globe.
On the contrary, rising fuel cost and increasing environmental concerns regarding the usage of automobile across the globe are expected to limits the growth of automotive crankshaft market. Moreover, adoption of electric vehicle in developing and undeveloped nations is hindering the demand of automotive crankshaft.
The report titled “Automotive Crankshaft Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global automotive crankshaft market in terms of market segmentation by vehicle type, by crankshaft type, by crankshaft material and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global automotive crankshaft market which includes company profiling of Thyssenkrupp Crankshaft Company LLC, NSI Crankshaft, Bryant Racing Inc., Arrow Precision, Maschinenfabrik ALFING KESSLER GmBH, Ciguenales Sanz SL, Tianrun Crankshaft co. ltd., Mahindra CIE Automotive, and NSI Crankshaft. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive crankshaft market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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