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Automotive Crankshaft Global Market Report 2022
Major players in the automotive crankshaft market are Arrow Precision Ltd. , Maschinenfabrik ALFING Kessler GMBH, Nippon Steel Integrated Crankshaft LLC, Tianrun Crankshaft Co. Ltd. , ThyssenKrupp AG, Bharat Forge Limited, Crower Cams & Equipment Co Inc.
New York, June 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Crankshaft Global Market Report 2022" - https://www.reportlinker.com/p06284135/?utm_source=GNW
, Farndon Engineering, Bryant Racing, Ciguenales Sanz, Metalyst Forgings Limited, CIE Automotive, Kellogg Crankshaft, and Amtek Group
The global automotive crankshaft market is expected to grow from $4.17 billion in 2021 to $4.40 billion in 2022 at a compound annual growth rate (CAGR) of 5.6%. The automotive crankshaft market is expected to grow to $4.90 billion in 2026 at a CAGR of 2.8%.
The automotive crankshaft market consists of the sales of automotive crankshafts by entities (organizations, partnerships, and sole proprietors) that transform the force generated by combustion into circular motion in the engine required to propel a vehicle.The crankshaft is a heavy-duty component located at the engine’s bottom and is typically constructed of steel or iron.
It is connected to the pistons’ bases through connecting rods that attach to crank pins at zig-zag offsets from the crankshaft’s centerline. This arrangement allows the pistons’ vertical movement to spin the crankshaft and generate rotational energy.
The main types of the automotive crankshafts are flat planes and cross-plane.The flat-plane crank tends to rev higher than its cross-plane counterpart because each crankpin journal (the bits the connecting rods attach to) is spaced at 180-degree intervals.
The various materials include forged iron/steel, cast iron/steel, and others and include several types of vehicles such as heavy commercial vehicles, light commercial vehicles, luxury vehicles, passenger vehicles, sport utility vehicles, multi-utility vehicles, and others.
Europe was the largest region in the automotive crankshaft market in 2021. The regions covered in the automotive crankshaft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The adoption of new emission standards is significantly contributing to the growth of the automotive crankshaft market.The regulatory bodies of various countries are coming up with new emission guidelines to reduce pollution.
The imposed mandatory emission control is directing automotive crankshaft players to manufacture more optimized crankshafts to fulfill production demand, as it is a vital component of the internal combustion engine that is directly linked to emissions.For instance, according to the Hindu Business Line, a financial and business daily newspaper, the Indian government made it mandatory to follow BS-VI guidelines for vehicles from April 2020 to reduce pollution drastically.
Hence, the adoption of new emission standards is expected to propel the growth of the automotive crankshaft market going forward.
Technological innovation is a key trend gaining popularity in the automotive crankshaft market.Major companies operating in the automotive crankshaft sector are focused on developing new technological solutions and developing crankshafts with advanced technologies to reinforce their position.
For instance, in March 2020, Honda, a Japan-based manufacturer of motorcycles, automobiles, and power equipment designed a 3D printed crankshaft with 3D printing technology to reduce environmental impact through innovative manufacturing techniques and smart designs. The 3D printed crankshaft is more fuel-efficient and lighter with a 50% reduction in weight.
In October 2021, MM Forgings Ltd., an India-based steel forgings company acquired Cafoma Auto Parts for an amount of $4.4 million. With this acquisition, MM Forgings planned to reach 60,000 machined crankshafts per month and expects to become a full-fledged crankshaft supplier to a variety of industries, including commercial vehicles, automotive, farm equipment, exports, industrial, and marine applications. Cafoma Auto Parts is an India-based company that manufactures engine components including automotive crankshafts.
The countries covered in the automotive crankshaft market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06284135/?utm_source=GNW
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