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Automotive Crankshaft Market Trends

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

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Automotive Crankshaft Market Trends

The automotive crankshaft industry could witness a trend toward integrating lightweight materials such as high-strength steel alloys, aluminum, and even carbon fiber composites in crankshaft production. These materials help reduce the overall engine weight, thus contributing to improved vehicle fuel efficiency and lower emissions. This trend aligns with the broader industry focus on sustainability and compliance with increasingly strict environmental regulations.

Against this backdrop, in September 2023, Garbaruk, an online store for custom-designed lightweight bike components, introduced a new XC Crankset, taking a unique approach by choosing aluminum over carbon fiber for lightweight crank arms. Specially designed for cross-country racing, Garbaruk claims the new crankset matches the weight of the carbon crankset while making the aluminum system stronger and more reliable.

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.