Automotive Crankshaft Market Size

Automotive Crankshaft Market Size

Automotive Crankshaft Market size was valued at USD 7.4 billion in 2023 and is estimated to register a CAGR of over 4% between 2024 and 2032, attributed to a notable rise in vehicle production and sales. According to SIAM, in November 2023, the total production of passenger cars, three-wheelers, two-wheelers, and four-wheelers reached 2,228,743 units. During the same month, sales of passenger vehicles were 334,130, total sales of three-wheelers were 59,738, and sales of two-wheelers were 1,623,399.

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As global demand for passenger and commercial vehicles increases, so does the need for automotive crankshafts. This growth is driven by economic growth, urbanization, and rising disposable incomes, especially in emerging markets. The increase in automotive efficiency is directly related to the increased demand for crankshafts and other components required for internal combustion engines.

However, the escalating consumer shift toward electric mobility and fluctuations in raw material prices resulting in high production costs and low profit margins will impact industry growth over the coming years.