Global Automotive Crankshaft Market Set for Growth, Expected to Reach $5.57 Billion by 2028, Driven by Technological Advancements and Emission Regulation Compliance - Long-term Forecast to 2033 - ResearchAndMarkets.com

The "Automotive Crankshaft Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.

Market Growth Driven by Technological Advances and Economic Expansion

The fundamental necessity of crankshafts in transforming piston movement to rotational motion within vehicles has maintained its importance in the automotive sector. The sturdy component crucial for an engine's performance has seen a market size increase from $4.61 billion in 2023 to an anticipated $4.77 billion in 2024 at a compound annual growth rate of 3.4%. Industrialization, economic growth, and an escalating demand for high-performance vehicles fuel this expansion.

Evolution and Emission Standards Catalyzing Market Evolution

Emerging trends and innovations continue to rewrite market dynamics. Transition to electric vehicles, an imperative for fuel efficiency, integration of smart technologies, sustainable practices, and the advent of autonomous driving are some factors contributing to an expected 4.0% CAGR leading up to a $5.57 billion market by 2028. The development of lightweight materials, application of 3D printing in manufacturing, and increased use of data analytics denote some of the significant trends shaping the future.

Embracing Global Emission Guidelines

The automotive crankshaft market is significantly influenced by international emission standards aiming to reduce environmental pollution. These guidelines encourage manufacturers to innovate and develop optimized components to comply with stringent regulations, such as the BS-VI norms enforced in India.

Vehicle Production Surge Stimulating the Market

Global vehicle production continues to rise, with reported increases such as the 5.7% growth in motor vehicles production in 2022 from the previous year according to ACEA. This boom directly contributes to the automotive crankshaft market's expansion.

Strategic Corporate Movements and Offerings in Aftermarket Parts

Key market players are propelling the market forward through strategic acquisitions and diverse product lines. Companies are expanding their aftermarket portfolios by including critical components like crankshaft speed sensors, which play a defining role in modern engine management systems. In a significant move, MM Forgings Ltd. acquired Cafoma Auto Parts to boost their monthly production of machined crankshafts, thereby enhancing their market footprint across various industries.

Regional Market Insights

Europe emerged as the leading region in the automotive crankshaft market in 2023. However, comprehensive reports cover the automotive crankshaft market across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa while delving into specific country-level insights to provide a holistic view of the market landscape. With an emphasis on innovation, efficiency, and compliance with evolving regulations, the automotive crankshaft industry is poised for sustained growth and continued development in the coming years.

A selection of companies mentioned in this report includes, but is not limited to:

• Arrow Precision Ltd.
• Maschinenfabrik ALFING Kessler GMBH
• Nippon Steel Integrated Crankshaft LLC
• Tianrun Crankshaft Co. Ltd.
• ThyssenKrupp AG
• Bharat Forge Ltd.
• Crower Cams & Equipment Co. Inc.
• Farndon Engineering Ltd.
• Chad Bryant Racing LLC
• Ciguenales Sanz SL
• Metalyst Forgings Ltd.
• CIE Automotive India Ltd.
• Kellogg Crankshaft Company
• Amtek Group
• Mahindra CIE Automotive Ltd.
• Rheinmetall AG
• Sandvik AB
• Mahle GmbH
• Poole Construction Company Limited
• Kalyani Group
• TFO Tech Co Ltd.
• CTP Sinto America LLC
• Cooper Corporation
• BMV Precision Engineering
• Balu Forge Industries Ltd.
• GKN plc
• Kolbenschmidt Pierburg AG
• Federal-Mogul LLC
• Asahi Kasei Corporation
• Daido Metal Company
• Toyoda Koki Co Ltd.
• Miba AG
• SNC Manufacturing Company Inc.

For more information about this report visit https://www.researchandmarkets.com/r/x9dex7

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