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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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.  

Europe takes the Lead for largest market share of automotive crankshaft market

Transparency Market Research (TMR) has recently published a market study on the Global Automotive Crankshaft Market, estimating the market to expand at a CAGR of 2.10% during the period from 2015 to 2021 and reach a market value of US$3 bn by the end of the forecast period.The research report, titled “Automotive Crankshaft Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021”, states that worldwide automotive crankshaft market stood at US$2.5 bn in 2014.

Growth for Global Automotive Crankshafts Market

The expansion of the worldwide automotive crankshaft market depends on the dynamics of the global automotive industry. Currently, the automotive industry is reporting an immense growth in the global arena, which is subsequently driving the global automotive crankshaft market. The huge capital required for R&D activities for the further advancement of crankshaft is, however, creating a severe challenge for the market, as per the report.The report analyzes the global automotive crankshaft market on the basis of the types of crankshafts, materials utilized, and the types of vehicles.

Types Of Automotive Crankshafts Market

Based on types, the global automotive crankshaft market is classified into the markets for flat plane crankshaft and cross plane crankshaft. The flat plane crankshaft market is leading the overall market at present. Forged steel and cast iron are the primary materials utilized to make automotive crankshaft.The markets for light commercial vehicles, heavy commercial vehicle, sports utility vehicles (SUV), multi utility vehicles (MUV), passenger vehicles, and other vehicles are the major segments of the worldwide automotive crankshaft market on the basis of vehicle types. Among these, the market for passenger vehicles is likely to register the highest growth over the forecast period.

Demand For Automotive Crankshafts Market

The increasing disposable income among middle-class consumers has led to increasing preference for passenger vehicles, thereby fuelling the demand for automotive crankshaft to a great extent. In addition to this, the global market for automotive crankshaft is projected to experience a significant demand during the forecast period, owing to the escalating demand for diesel cars and heavy commercial vehicles across the globe, the report states.

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Segmentation of the global automotive crankshaft market

North America, Asia Pacific, Europe, and the Rest of the World are the primary regional markets for automotive crankshaft. According to the report, the automotive crankshaft market in Europe led the global market in 2014 and was closely followed by the market in North America. High disposable income has raised the purchasing power of consumer in these regions, which has triggered the demand for automobiles and eventually, the demand for automotive crankshaft significantly.

Key Players :

Analysts expect these regional markets to exhibit a stable growth throughout the forecast period. It is, however, the automotive crankshaft market in Asia Pacific, which is likely to witness the highest growth in the coming years owing to the rapid rise in the automotive industry fueled by the increased affluence of consumers in this region.The growth in vehicle production in Rest of the World is also projected to support the automotive crankshaft market during the forecast period, notes the study.Bharat Forge, Amtek Auto, ThyssenKrupp, Mahindra CIE Automotive, NSI Crankshaft, Cigueñales Sanz SL, Bryant Racing, Maschinenfabrik ALFING KESSLER, Arrow Precision, and Tianrun Crankshaft are the Key Players functioning is the global automotive crankshaft market, states the market report.

About Us :

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

With the rise of passenger vehicles, the demand for market of crankshaft manufacturers is also set to increase globally

Transparency Market Research (TMR) has recently published a market study on the global automotive crankshaft market, estimating the market to expand at a CAGR of 2.10% during the period from 2015 to 2021 and reach a market value of US$3 bn by the end of the forecast period.The research report, titled “Automotive Crankshaft Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021”, states that worldwide automotive crankshaft market stood at US$2.5 bn in 2014.

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.

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 periodfrom 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. 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 carst. 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.

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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..

Analysts expect these regional markets to exhibit a stable growth throughout the forecast period. It is, however, the automotive crankshaft market in Asia Pacific, which is likely to witness the highest growth in the coming years owing to the rapid rise in the automotive industry fueled by the increased affluence of consumers in this region.The growth in vehicle production in Rest of the World is also projected to support the automotive crankshaft market during the forecast period, notes the study.Bharat Forge, Amtek Auto, ThyssenKrupp, Mahindra CIE Automotive, NSI Crankshaft, Cigueñales Sanz SL, Bryant Racing, Maschinenfabrik ALFING KESSLER, Arrow Precision, and Tianrun Crankshaft are the Key players functioning is the global automotive crankshaft market, states the market report.

About Us :

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.