Automotive Crankshaft Market Size : Global Industry Demand, Growth & Revenue Opportunity 2017 to 2024

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Extensive insights into the Growth of Automotive Crankshaft Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights

Automotive Crankshaft Market Overview

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.

Market Size & Forecast

Automotive crankshaft market is anticipated to witness a robust growth over the forecast period. Further, the global automotive crankshaft market is expected to expand at a CAGR of 2.2% over the forecast period 2017-2024. Moreover, the global automotive crankshaft market stood at revenue of USD 2.7 billion in year 2016. It is estimated that till 2024 the extreme growth of global automotive crankshaft market is anticipated to reach the valuation of USD 3.2 billion.

Europe accounted for the highest percentage share, more than any region in 2016 in crankshaft market. After Europe, North America, accounted the second highest position in revenue among other regions. Asia-Pacific comprises of some fastest emerging economies such as India and China. These regions are having far more demand than the other countries, and includes the higher demands for heavy commercial vehicles and high end luxury vehicles along with others vehicles. Considering all these factors, during forecast period, the global market of automotive crankshaft, in Asia-Pacific region will be growing further at an extreme pace. Upcoming years will appear as golden era for the automotive crankshaft manufacturers in Asia-Pacific region due to significant opportunity for them to expand their business.CLICK TO DOWNLOAD FREE SAMPLE REPORT

Market segmentations

Our in-depth analysis segmented the global market of automotive crankshaft in these following segments-

By Vehicle Type

Heavy commercial vehicles
Light commercial vehicles
Luxury vehicles
Passenger vehicles
Sport Utility Vehicles
Multi Utility Vehicles
Others

By Crankshaft Type

Flat plane(Single Plane)
Cross plane

By Crankshaft Material

Cast Iron
Forged Steel
Carbon steel alloys
Others

By Regions

Global automotive crankshaft market is further classified on the basis of region as follows:

North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Growth Drivers & Challenges

The growth of automotive crankshaft market is driven by the soaring demand for high end performance vehicles. Further this led all the market players to come up with quality part products for the high end performing engines, and to lead the market as well.

The high earning consumers and their high purchasing power are also propelling the growth of the automotive crankshaft market in a very positive way. Further change in lifestyle of the consumers guided them to demand for better products. These factors are now forcing the market players to come up with something much better than previous products and with better qualities.

The growth of tourism sector has also given the boost to the global automotive crankshaft market due to the demand for large number of automobiles on road.

The continuous development in automobile sector has also propelled the market of automotive crankshaft globally. In addition to this, with the ultimate growth in automobile sector in all regions of the world it is increasing the demand for automotive crankshaft all over the world.

However, significant investment on research and development activities while manufacturing crankshaft is anticipated to hamper the growth of automotive crankshaft market during the forecast period.

Key Players