Automotive Crankshaft Market Analysis

Automotive Crankshaft Market Analysis

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Based on crankshaft, the market is divided into flat plane, cross plane and modular. The cross plane crankshaft segment is projected to exceed USD 6 billion by 2032. Cross-plane crankshafts market will exhibit a commendable CAGR over 2024-2032 due to the excellent performance attributes in high-performance and sports vehicles. They improve power flow, reduce vibration, improve engine performance, and enhance driving comfort.

In addition, a special series of guns in the cross-plane crankshaft improves exhaust scavenging, resulting in better torque and overall engine performance. As automakers strive for vehicles that offer power and refinement, the acceptance of cross-plane crankshafts in the automotive industry is becoming more widespread and popular.

Based on sales channel, the automotive crankshaft market is categorized into OEMs and aftermarket. The OEM segment held a major market share of around 69% in 2023. OEMs benefit from established relationships with automakers, ensuring consistent and reliable demand for crankshafts. Their ability to deliver high-quality products manufactured to strict industry standards gives them a good reputation in the market. In addition, OEMs often enter into long-term contracts and cooperate with automakers to ensure consistent business. The OEMs’ emphasis on innovation and advanced manufacturing processes is in line with the evolving needs of modern automotive engines, driving their growth in the market.

Asia Pacific dominated the global automotive crankshaft market with a share of over 35% in 2023, owing to the growing regional automotive industry and high automotive production. Countries such as China, India, and Japan are major automobile manufacturing hubs with high crankshaft demand. In addition, access to low-cost labor and raw materials in the region lowers the cost of production, attracting global workers. Government incentives and investment in infrastructure boost the industry significantly. Rapid urbanization and increasing disposable income are increasing vehicle ownership, thereby increasing the demand for automotive components, including crankshafts, in Asia-Pacific.

European countries like Germany, Spain, Italy, and the UK are significant contributors to the market. These nations boast a robust automotive industry, housing major vehicle manufacturers that drive the demand for high-quality crankshafts. The presence of leading crankshaft suppliers, coupled with stringent emission regulations and a focus on innovation, position Europe as a key player in this market segment.

The U.S. supports the automotive crankshaft market through advancements in manufacturing technologies, Moreover, stringent quality standards and rising strong automotive manufacturing. Major crankshaft manufacturers have production facilities across the U.S., catering to the demands of domestic automakers. The market is driven by the consistent demand for new vehicles, engine replacements, and the need for durable, high-performance crankshafts that meet emission regulations.