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Automotive Crankshaft Market Share

Report ID: GMI9757
Published Date: Jun 2024
Report Format: PDF

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Automotive Crankshaft Market Share

Thyssenkrupp AG and Rheinmetall AG hold a significant market share of over 15% in the automotive crankshaft industry. The major strategies implemented by players in the automotive crankshaft industry to strengthen their positions include investment in advanced manufacturing technologies and innovations. These companies adopt precision forging, CNC machining, and 3D printing in automotive is used for manufacturing high-quality, lightweight, high-performance, and long-lasting crankshafts. They provide long-term contracts to increase market growth. They also focus on strategic partnerships and collaborations with automotive manufacturers.

Expanding their product range to include crankshafts for electrification and hybrid vehicles is another important strategy, addressing the transition towards sustainable transport. Also, companies are developing their supply chains well, especially in regions such as Asia Pacific, to reduce costs and increase competitiveness. There is also a need to emphasize research and development to meet stringent emission standards and customer requirements specific to the use of cost-effective manufacturing methods.

Automotive Crankshaft Market Companies

Major companies operating in the automotive crankshaft industry are:

Bharat Forge
Crower Cams & Equipment
Kellogg Crankshaft Company
MGM Forgings
Musashi Seimitsu
NSI Crankshaft
Precision Camshafts
Rheinmetall AG
thyssenkrupp AG
Tianrun Industrial Technology Co., Ltd

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of automotive crankshafts reached USD 7.4 billion in 2023 and is set to witness 4% CAGR from 2024 to 2032, due to the notable rise in vehicle production and sales.

The cross-plane crankshaft segment is projected to account for more than USD 6 billion by 2032, owing to the excellent performance attributes in high-performance and sports vehicles.

The OEM sales channel segment in the automotive crankshafts industry accounted for 69% share in 2023, attributed to the established relationships with automakers for ensuring consistent and reliable demand for crankshafts.

Asia Pacific market recorded over 35% share in 2023, led by the growing regional automotive sector and increasing automotive production.