Automotive Crankshaft Market Outlook:
Automotive Crankshaft Market size was valued at USD 7.61 billion in 2024 and is set to exceed USD 11.05 billion by 2034, expanding at over 3.8% CAGR during the forecast period i.e., between 2025-2034. In the year 2025, the industry size of automotive crankshaft is estimated at USD 7.86 billion.
Key Automotive Crankshaft Market Insights Summary:
Asia Pacific is projected to secure the largest revenue share in the automotive crankshaft market by 2034.
Passenger vehicles segment is expected to account for the highest share in the overall market.
Key Growth Drivers:
- Rise In Sales Of Luxury Cars Across The Globe
- Growing Market For Commercial Vehicles
Key Players:
- 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, NSI Crankshaft
Market Size and Growth Projections:
- 2024 Market Size: USD 7.61 billion
- 2025 Market Size: USD 7.86 billion
- Projected Market Size: USD 11.05 billion by 2034
- Growth Forecasts: 3.8% CAGR (2025-2034)
- Largest Region: Asia Pacific
- Fastest Growing Region: Asia Pacific
The market revenue is driven by growth and development in the automobile industry around the globe. It was observed that the automobile industry produced approximately 22,930,200 vehicles between April 2021 and March 2022, a slight increase from 22,600,600 vehicles produced in April 2020 to March 2021.
Crankshaft is a mechanical device and heart of an automotive engine. It has the ability to convert linear reciprocating motion of piston to a rotary motion for engine power transmission. These are widely used in automotive field, such as in cars, trucks, trains and in other automobiles. Without crankshaft it would not be possible for a vehicle to move even inch, since it is the main link between input powers to the output powers.
Further, automotive crankshaft has multiple applications in different sectors such as automobile sector, industrial machinery sector and in printing devices. Moreover, the soaring demand for high end performance vehicles with high end performing engines, change in lifestyle of the consumers guided them to demand for better products along with rising disposable income will propel the automotive crankshaft market growth. According to the Bureau of Economic Analysis, personal income rose by USD 47.0 billion (0.2%) and disposable personal income by USD 37.6 billion (0.2%) in July 2022.
Automotive Crankshaft Market Growth Drivers and Challenges:
Growth Drivers
- Rise In Sales Of Luxury Cars Across The Globe- The number of luxury vehicles sold in India from January-May 2022 increased by 53% over the previous year's 10,500 units.
- Engine crankshafts convert linear motion into rotational motion by converting linear motion into rotational motion. Luxury cars require heavy-loading engines that are compact. A crankshaft's fatigue strength and wear resistance are very high, ensuring long service life. The rising purchasing of luxury cars is anticipated to propel the demand for automotive crankshafts over the forecast period.
- Growing Market For Commercial Vehicles - For instance, a total of 67,100 commercial vehicles were sold in August 2022, an increase of 8.21% from 54,000 units in August 2021.
- Increasing Exports Of Automotive Components- Estimates indicate that the export of auto components from India will reach USD 29 billion by 2026. By 2026, the automotive components industry is expected to generate USD 190 billion in revenues.
- Upsurge In Manufacturing of Motor Vehicles Worldwide - According to statistics in a report published by the International Organization of Motor Vehicle Manufacturers (OICA), motor vehicle production has increased since 2000 from 583,74,162 to 917,86,861 vehicles.
- Rise In Exports of Crankshafts Worldwide- As per the statistics by the International Trade Center (Trademap), the global value of exports of crankshafts in the year 2021 was recorded to be USD 11,542,182 thousand, which was an increase from USD 9,732,537 thousand in the previous year.
Challenges
- Significant Investment In Research And Development Activities While The Manufacturing Crankshaft
- High Cost Of Raw Materials
- Stringent Government Regulations Regarding Product Approval
Automotive Crankshaft Market Size and Forecast:
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2034 |
|
CAGR |
3.8% |
|
Base Year Market Size (2024) |
USD 7.61 billion |
|
Forecast Year Market Size (2034) |
USD 11.05 billion |
|
Regional Scope |
|
Automotive Crankshaft Market Segmentation:
Vehicle Type (Commercial Vehicles, Luxury vehicles, Passenger vehicles, Multi Utility Vehicles)
The passenger vehicles segment is poised to capture largest automotive crankshaft market share by 2034, propelled by increasing exports of passenger vehicles worldwide. It was observed that passenger vehicle exports increased from 403,390 to 570,870 between April 2021 and March 2022. Furthermore, the increasing demand for passenger cars across developing nations such as China and India, and the increasing purchasing power of middle-class families are set to impel the segment growth.
Our in-depth analysis of the global automotive crankshaft market includes the following segments:
|
By Vehicle Type |
|
|
By Type |
|
|
By Crankshaft Material |
|
Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Automotive Crankshaft Market Regional Analysis:
The market in Asia Pacific is set to dominate largest revenue share by the end of 2034, backed by rise of disposable income that is enhancing the purchasing power of Asian consumers. In 2021, the per capita disposable income of Chinese citizens peaked at USD 5,200, an increase of 9% over 2020. Moreover, the growing car market in developing countries, rapid urbanization, and government initiatives encouraging industrialization will boost the regional market size. It was observed that India's passenger car market was valued at USD 32 billion in 2021, and it is projected to reach USD 54 billion by 2027, growing at more than 8.8% between 2022 and 2027.
Key Automotive Crankshaft Market Players:
- Thyssenkrupp Crankshaft Company LLC
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- NSI Crankshaft
- Bryant Racing Inc.
- Arrow Precision
- Maschinenfabrik ALFING KESSLER GmBH
- Ciguenales Sanz SL
- Tianrun Crankshaft co. ltd.
- Mahindra CIE Automotive
- NSI Crankshaft
Recent Developments
-
Material Services of ThyssenKrupp Crankshaft Company LLC has continued to expand in North America and plans to open a new facility in San Luis Potosí. Around USD 37 million is being invested in the central Mexican city by the company in order to support the future viability of the automotive supply sector.
-
Cigüeales Sanz AG started producing camshafts for models with more than 2 meters, started in 2020 with Cummins K50 compatible camshafts and others in our catalog.
- Report ID: 349
- Published Date: Jun 13, 2025
- Report Format: PDF, PPT
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