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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PDF file of Automotive Crankshaft Market :
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.
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Transparency Market
Research is a global market intelligence company, providing global
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