Automotive Crankshaft Market
Automotive Crankshaft Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021
Press Release :
The global automotive crankshaft market has been covered under the scope of this report. The rising demand for automobiles globally and the demand for high end performance vehicles has propelled the growth of companies which manufacturer’s automotive crankshafts. Crankshaft is a core element of an engine; it converts the linear motion of the pistons to rotational motion to power the wheels. These components are highly used in automobiles, industrial applications, communication sector and printer & imaging devices among others.
The main function of a crankshaft is the conversion of linear motion of the piston to rotational motion, which would power the wheel. Crankshaft in automobile comprises of cast iron, forged steel and machined crankshaft. Crankshaft can be of two designs; flat plane and cross plane. Flat plane crankshafts are much lighter but are imperfectly balanced. On the other hand cross plane crankshaft are perfectly balanced but are heavier than flat plane crankshafts.
Various types of crankshafts are available depending upon the type of vehicle and its purpose. According to the manufacturing process, there are two types of crankshafts: flat plane, and cross plane. A flat plane crankshaft is simple in design, produces loud noises and generates vibration in the engine. A balancer shaft is required to balance a flat plane crankshaft. Cross plane crankshafts on the other hand, are perfectly balanced and are mostly used in V8 engines. Cross plane is a crankshaft design for piston engines with a 90 degree angle between the crank throws.
Global automotive crankshaft market is primarily driven by the growth in demand of automotive sector in emerging markets and increasing demand for performance engines. Automotive sectors are witnessing high demand for automotive crankshafts in developing countries such as China, India, and others. The market in these regions are mainly driven by large spending for heavy commercial vehicles and demand for high end luxury vehicles. Considering all these positive impacts, demand for automotive crankshaft is set to rise during the forecast period from 2015 to 2021.
The global automotive crankshaft market has been broadly segmented into four regions, North America, Europe, Asia Pacific and RoW (Rest of the World). In terms of revenue, Europe held the largest share of the market in 2014 followed by North America. Increasing purchasing power of the consumers is also driving the market for automotive crankshaft. The increasing advancements in automotive engines have positively impacted the demand for crankshafts in the region. Automotive crankshafts are considered to be the heart of automobiles. Therefore, the demand for automotive crankshafts is set to grow in the region with the change in lifestyles and increasing purchasing power of the consumers. In addition, the increasing vehicle production in all regions of the world is also influencing the demand for the automotive crankshaft market. Machined crankshaft is becoming largely popular in the automotive crankshaft market because they are perfectly balanced, thus they are used in high end sports cars. The major concern of the industry is the huge capital that is required for research and development of crankshaft, which increases the price of the automotive crankshaft considerably.
The global automotive crankshaft market, by vehicle types is bifurcated into six segments such as Heavy Commercial Vehicle, Light Commercial Vehicle, Passenger Vehicles, Sports Utility Vehicles, Multi Utility Vehicles and others. Heavy commercial vehicles generally include Trucks, buses and construction vehicles among others. This segment generally requires forged iron and steel crankshafts to handle the immense torque generated by the engines.
Some of the leading players in the market are, Bhatar Forge Ltd (India), Amtek Auto Ltd. (India), ThyssenKrupp Crankshaft Company LLC (U.S.A) and NSI Crankshaft (U.S.A) Bryant Racing Inc, (U.S.A), Arrow Precision (U.K), Maschinenfabrik ALFING KESSLER GmbH (Germany), Cigueñales Sanz SL (Spain), Tianrun Crankshaft Co., Ltd. (China), Mahindra CIE Automotive Ltd. (India) and NSI Crankshaft (U.S.A).
A high degree of competition is characteristic of the contemporary automotive industry worldwide. Companies are not only vying to up sales, but also to boost product performance in a bid to gain an upper hand in their respective space. The automotive crankshaft market been impacted by these factors, and has seen marked innovation in recent years. This report evaluates the effect that prevailing trends will have on the global automotive crankshaft market and the magnitude of this impact.
To do this, the report conducts a detailed segmentation of the global automotive crankshaft market. The criteria used for this segmentation are: crankshaft material, vehicle type, crankshaft type, and geography. The types of vehicles studied to understand crankshaft trends and usage in each type are: heavy commercial, sports utility, light commercial, passenger, and multi utility vehicles. Likewise, the following types of crankshafts are studied in the report: cross plane and flat plane. Based on material type, the market for automotive crankshaft has been divided into forged steel, cast iron, and others. Furthermore, the regional markets studied in this report are: North America, Asia Pacific, Europe, and Rest of the World.
In addition to presented a highly segmented view of the global automotive crankshaft market, the report also studies important performance parameters such as market revenue and sales. All forecasts are provided in US$ for the period between 2015 and 2021.
Overview of the Global Automotive Crankshaft Market
A crankshaft is the core component of an engine given its crucial task of converting pistons’ liner motion into rotational motion that runs a vehicle’s wheels. However, the use of a crankshaft is not limited merely to the automotive industry. It is used in virtually any application where linear motion needs to be converted into rotational motion, such as in industrial machinery and imaging and printing devices.
The soaring demand for automobiles the world over will put the global automotive crankshaft market firmly on course to reaching a valuation of US$2.92 bn by 2021. The market will register a 2.1% CAGR between 2015 and 2021, say TMR’s projections.
The report notes that by type, crankshafts were most widely used in passenger vehicles in 2014 because of the mounting demand for such vehicles from rapidly emerging economies in regions such as Asia Pacific and Latin America. Sales of passenger vehicles have also conventionally remained high, attributable partly to their lower prices.
In terms of type, the demand for flat plane automotive crankshafts was the highest in 2014. Likewise, the demand for crankshafts made using forged steel will remain highest in the near future.
Europe stood as the largest market for automotive crankshaft as of 2014. Massive activity has been reported from the Asia Pacific automotive crankshaft market in recent years, creating bright prospects for the market in this region. In countries such as India, vehicle production continues to rise year on year, laying a firm foundation for the growth of the automotive crankshaft market in APAC.
Companies Mentioned in the Automotive Crankshaft Market
Companies that have a toehold in the global automotive crankshaft market are: Bhatat Forge Ltd, ThyssenKrupp Crankshaft Company LLC, Amtek Auto Ltd., and NSI Crankshaft.
The report segments the Automotive Crankshaft market as:
Automotive Crankshaft Market: By Vehicle
- Heavy Commercial Vehicle
- Light Commercial Vehicle
- Passenger Vehicle
Automotive Lighting System Market: By Crankshaft Type
- Flat Plane
- Cross Plane
Automotive Lighting System Market: By Crankshaft Material
- Cast Iron
- Forged Steel
Automotive Lighting System Market: By Geography
- North America
- Rest Of Europe
- Asia Pacific
- South Korea
- Rest Of Asia Pacific
- Rest of the World
- South America
- Middle East
Major regions analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments