Global Automotive Crankshaft Market to Rise at 2.1% CAGR 2015-2021, Use in Passenger Vehicles to Propel Market

A new research report published by Transparency Market Research studies the various factors governing the automotive crankshaft market. The research report, titled “Automotive Crankshaft Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021,” states that the remarkable growth in the automobile sector in the past few years has led to a surge in the demand for automotive crankshafts across the globe. The proliferating automotive sector in emerging economies has also made a significant contribution to the growth of the global automotive crankshaft market. According to the research report, the global automotive crankshaft market was valued at US$2.52 bn in 2014 and is expected to reach US$2.92 bn by 2021, at a 2.1% CAGR between 2015 and 2021.

A crankshaft performs the task of converting reciprocating motion to rotational motion. It is the link between the input and output of the vehicle and the reason why the car gains its movement. On the other hand, in a reciprocating compressor, a crankshaft converts the rotational motion into reciprocating motion. The crankshaft uses crank throws or crankpins to make these conversions. Crankshafts are an exceptionally important part of an engine as they transmit power to drive wheels.

The global automotive crankshaft market is segmented on the basis of vehicle, type of crankshaft, material, and geography. The vehicles using automotive crankshafts are heavy commercial vehicles, passenger vehicles, light commercial vehicles, MUVs, SUVs, and others. The types of crankshafts being used are cross plane and flat plane. The materials used for making these are forged steel, cast iron, and others. Geographically, this market is segmented into Europe, Asia Pacific, North America, and Rest of the World.

Of all the types of vehicles, the passenger vehicle segment was the biggest consumer of automotive crankshafts 2014. This demand was a result of the burgeoning middle class and the growing demand for passenger vehicles amongst them. In the coming years, this segment is set to witness a steady growth rate due to rising disposable incomes of several consumers that will allow them to buy passenger vehicles.

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Out of the types of crankshafts, the flat plane crankshaft segment held a dominant position in the overall market in 2014. In the coming years, the demand for machined crankshafts is also expected to rise due to growing production of high-end sports cars. On the other hand, the forged steel crankshaft segment is also expected to witness a positive growth rate due to the increasing sale of heavy commercial vehicles and diesel cars in several countries.

Some Key Players operating in the global automotive crankshaft market are ThyssenKrupp Crankshaft Company LLC, NSI Crankshaft, Bharat Forge Ltd, and Amtek Auto Ltd. The research report studies the unique factors such as management styles, financial overview, investment outlook, research and development activities, strategic mergers and acquisitions, business and marketing plans, and expansion ideas of these top players for the coming years. Additionally, the research report also provides a detailed understanding of the competitive landscape of the global automotive crankshaft market to its readers.

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