According to the latest report by IMARC Group, titled "Automotive Camshaft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global automotive camshaft market size reached US$ 2,961 Million by 2019. An automotive camshaft is a device that rotates in conjunction with the crankshaft to turn rotational motion into linear motion. It is used to control the input of fuel and the expulsion of exhaust fumes in an internal combustion heat engine with the help of shaped lobes positioned along with it. The rotating lobes present in the camshaft, which are also known as cams, push against the exhaust valves to open them. Their calibration is essential in controlling the amount of air-fuel mixture that enters the engine. Consequently, the lobes and their shapes have a drastic effect on engine performance at varying speeds.
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Global Automotive Camshaft Market Trends:
The global market is primarily driven by the rising production of automobiles, especially in developing countries, supported by improving living standards and increasing per capita income levels. Several stringent regulations have been implemented by the governments of various countries related to vehicle emission standards. This, in turn, has impelled the manufacturers to introduce lightweight vehicles in the market with reduced carbon emissions and enhanced fuel efficiency. As a result, key players are now launching low-weight camshafts that are expected to optimize the overall performance of the engines, thereby creating a positive outlook for the market. Along with this, there has been an increasing demand for modern and advanced engines, which is acting as a growth-inducing factor. Numerous prominent brands, including Toyota Motor Corporation, are integrating their engines with Variable Valve Timing (VVT) and Variable Valve Timing-intelligent (VVT-i) technologies that significantly improve the fuel economy, increase torque and output, and reduce the levels of nitrogen oxide (NOx) and hydrocarbon emissions. Other factors, such as the increasing investments in infrastructural development and widespread adoption of electric vehicles (EVs), are further creating a positive outlook for the market. On account of the aforementioned factors, the market is expected to reach a value of US$ 3,640 Million by 2025, growing at a CAGR of 3.5% during 2020-2025.
Market Summary:
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