The latest report by IMARC Group, titled "Automotive Camshaft Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027," finds that the global automotive camshaft market size reached US$ 2.7 Billion in 2021. An automotive camshaft is a rod-like structure that rotates in conjunction with the crankshaft to turn rotational motion into linear motion. It controls the input of fuel and expulsion of exhaust fumes in an internal combustion engine with the help of shaped lobes positioned along with it. It also assists in controlling the amount of air-fuel mixture that has a drastic effect on engine performance at varying speeds. Owing to these properties, automotive camshafts find extensive applications in the automobile industry across the globe.
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Global Automotive Camshaft Market Trends:
The market is primarily driven by the rising production of automobiles and escalating demand for high-performance vehicles. Nowadays, leading automotive companies such as BMW, Audi, Volkswagen and Mercedes-Benz are incorporating the variable valve (VVT) technology in their latest car models, which is escalating the demand for camshafts across the globe. In addition, the implementation of stringent automobile standards introduced by the governing authorities in various countries and the emerging trend of engine downsizing represent another major growth-inducing factor. Moreover, with the increasing investments in infrastructure development, particularly in developing countries, manufacturers are widely producing heavy motor vehicles. This, coupled with the rising popularity of motor-powered electric vehicles (EVs), is positively influencing the market growth. Looking forward, IMARC Group expects the market to reach US$ 3.5 Billion by 2027, exhibiting a CAGR of 4.17% during 2022-2027.
- Based on manufacturing technology, the market has been classified into cast, forged steel, and assembled camshafts.
- On the basis of the vehicle type, the market has been segregated into passenger cars, light commercial vehicle, and heavy commercial vehicle.
- Based on the distribution channel, the market has been bifurcated into OEMs and aftermarkets.
- Region-wise, the market has been divided into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America.
The competitive landscape of the market has been examined in the report, with some of the key players being Mahle GmbH, JD Norman Industries, Inc., Thyssenkrupp AG, Linamar Corporation, Estas Camshaft & Chilled Cast, Crance Cams Inc., Aichi Forge USA Inc., Engine Power Components Inc., Hirschvogel Holding GmbH, Kautex Textron Gmbh & Co. KG, Shadbolt Cams, Comp Performance Group, Precision Camshafts Ltd., Varroc Group and Camshaft Machine Company.
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