The ‘Global Automotive Camshaft Market Size, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global automotive camshaft market, assessing the market based on its segments like vehicle type, manufacturing technology, fuel type, sales channels, and regions.
Automotive Camshaft Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): Nearly USD 2.82 Billion
• Forecast CAGR (2023-2028): 4.20%
• Forecast Market Size (2028): Around USD 3.61 Billion
There has been a rapid progress of automotive industry in the last few decades because of the development in technology, innovations, and need to fulfil evolving demands and guidelines. The internal combustion engines have witnessed waves of alterations and advancements over the decades. One of the vital parts of an engine that is essentially installed in engines is the camshaft, which helps in the opening and closing of the valve, enabling the entrance of fuel along with the release of gases effectively.
The structure of the camshaft essentially monitors the activity of the valve. The camshaft also helps in improving the underlying functioning of an engine. Camshafts are largely utilised in both modern-day overhead-cam (OHC) engines (SOHC and DOHC) and older engines.
The increase in the sales of commercial vehicles and passenger cars together with the surge in the acceptance of dual overhead camshaft engines in passenger cars are expected to propel the development of the automotive camshaft market in the upcoming years. With the rising population and a large number of people using passenger vehicles for commuting in cities, there is an increase in demand for passenger vehicles.
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There has been a growing interest of the automotive producers, researchers, and the customers in the electric and hybrid automobiles, as a step towards reducing pollution level and save fuel. The primary source of energy supplied in hybrid cars is through the heat engine because of which ignition is simplified. Hence, the arrival of hybrid vehicles is providing profitable opportunities to the market players, in turn, leading to the progress of the automotive camshaft market.
Automotive Camshaft Industry Definition and Major Segments
Automotive camshaft is a part of automotive engine in the form of a metal tube constructed to transmit the countering movement of a valve lifter to the valve. The pushrod of the automotive camshaft is created for particular functions and of a characteristic thickness of wall, length, and end configuration. Automotive camshaft pushrod can also lessen the number of gears required to drive the camshaft in an engine, restrict the upper limit acceptable speed, expand mass of moveable parts, and decrease the rigidity of the systems.
Based on vehicle types, the market can be segmented into:
• Passenger Vehicle
• Commercial Vehicle
On the basis of manufacturing technologies, the market has been classified into:
• Cast Camshaft
• Forged Camshaft
• Assembled Camshaft
On the basis of fuel types, the market has been classified into:
• Gasoline
• Diesel
Based on sales channels, the market can be segmented into:
• OEM
• Aftermarket
Based on regions, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Automotive Camshaft Market Trends
The increasing acceptance of software devices to improve the design of camshafts along with the technological developments in valve technologies is projected to improve the demand for automotive camshafts in the future years. Hence, improvements and growth of related technologies are anticipated to drive the growth of the automotive camshaft market. The forged automotive camshaft is projected to hold a significant share in the market.
Rigorous regulations implemented by several governments in relation to carbon release have obligated automotive OEMs to implement lightweight and capable engines, in turn, leading to the expansion of the automotive camshaft market in the future.
Other factors such as investments in innovative technologies, module design techniques, and some of the other aspects of the automotive industry are expected to offer profitable prospects for market players existing in the present automotive camshaft market.
Based on regions, the Asia Pacific is expected to develop substantially in the global automotive camshaft market over the coming years owing to the increasing manufacturing and sales of passenger vehicles in developing countries such as China and India. Because of the growing disposable incomes and rising accessibility of vehicles, the leading producers are also augmenting their production plants within the region. In the interim, Europe is also expected to demonstrate significant development in the automotive camshafts market.
Key Market Players
The major players in the global automotive camshaft market report are Linamar Corporation, MAHLE GmbH, ThyssenKrupp AG, Engine Power Components Inc., and Hirschvogel Holding GmbH, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
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