According to the report, the global automotive camshaft market size is projected to surpass US$ 27 Bn by 2027, expanding at a CAGR of 3.1% during the forecast period 2020 to 2027.
Increased adoption of double overhead camshaft (DOHC) engines in order to achieve more power is expected to drive the camshaft market. The DOHC type engine utilizes two camshafts per cylinder block, i.e., 2 camshafts in an inline engine and 4 camshafts in v engine. Increase in the number of camshafts per engine, owing to a rise in the demand for DOHC engine is projected to drive the camshaft market. The expansion of the automotive industry in developing countries such as China, India, Brazil and Mexico is boosting the camshaft market. Vehicle sales are expected to improve in Europe post the tailwind of Brexit over the organization of trade agreements among the EU and U.K. Emerging economies in Rest of Africa, such as Nigeria, Kenya, Uganda, and Tanzania, are expected to offer opportunities for new vehicle sales, thereby providing new opportunities to the automotive industry and consequently, propel the camshaft market in Middle East & Africa.
Advent of Hybrid Vehicles Presents Lucrative Opportunities for Market Participants
Full-electric and hybrid vehicles have gained considerable popularity in the past 10 years. Automotive manufacturers, researchers, and consumers have expressed noteworthy interest in electric and hybrid vehicles, particularly in the past few years as a measure to curb pollution and save fuel. In hybrid cars, the main source of energy supply is the heat engine due to which combustion is streamlined and fuel-efficient. However, in their efforts to further improve the overall efficiency of heat engine, companies operating in the current automotive camshaft market landscape are increasingly focused on the design aspects of the automotive camshaft.
- The global camshaft market has been segmented based on vehicle type, fuel type, manufacturing technology, engine type, sales channel, and region
- Based on vehicle type, the passenger vehicle segment is expected to dominate the global camshaft market. Passenger vehicles contribute to a major share of the total vehicles produced globally and subsequently, the passenger vehicle segment held a leading share of the global camshaft market in 2019.
- Based on fuel type, the gasoline segment held a leading share of the camshaft market. Majority of passenger vehicles globally are gasoline powered engine, and the gasoline segment is anticipated to expand, owing to higher taxation on diesel fueled vehicles and higher technology update required in diesel fuel vehicles in order to comply with emission regulations.
- In terms of manufacturing technology, the forged camshafts segment held a notable share of the market in 2019. The segment is estimated to maintain its dominance during the forecast period. Forged camshafts are stronger than their cast counterparts and possess superior impact resistance and durability.
- Based on engine type, the inline engine segment accounted for a prominent share with the L3, L4, L6 being the most preferred engine configuration worldwide
- In terms of sales channel, the OEM segment held a dominant share of the market, globally, given that camshafts generally last the entire vehicle life and are replaced mostly in case of accidental damage
- Based on region, the global camshaft market has been segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific held a leading share of the global market in 2019, followed by Europe and North America. High volume production of vehicles in Asia Pacific has resulted in the region holding a leading share of the global market.
- The automotive sector in Europe and North America recorded positive growth post the 2008 economic crisis. The auto industry in these regions is not expected to witness a significant expansion; however, it is anticipated to record steady expansion and subsequently, boost the camshaft market in these regions.
Key players operating in global camshaft market include
- COMP Performance Group
- JBM Industries
- Hirschvogel Holding GmbH
- JD Norman Industries, Inc.
- Meritor, Inc.
- MAHLE GmbH
- PCL India
- Pipers RS Ltd
- Schrick Camshaft
- Camshaft Market, by Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
- Camshaft Market, by Fuel Type
- Camshaft Market, by Engine Type
- Inline Engine
- Camshaft Market, by Manufacturing Technology
- Cast Camshaft
- Forged Camshaft
- Assembled Camshaft
- Camshaft Market, by Sales Channel
- Camshaft Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This TMR report on the automotive camshaft market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. Market volume is determined by country wise model mapping of vehicle through internal & external proprietary databases, and relevant patent and regulatory databases. The competitive scenario of the automotive camshaft market is supported by an assessment of the different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data, current trends and announcement by the key players, researchers of the automotive camshaft market arrive at predictions and estimations, and calculate the forecast for the market.
This report uses an analytical triangulation method to estimate the numbers and figures of the automotive camshaft market, with both a bottom-up and top-down approach.
This detailed assessment of the automotive camshaft market, along with an overview of the landscape, is provided based on a careful examination of the avenues related to this industry. Analysts’ conclusions on how the automotive camshaft market is estimated to expand are based on carefully vetted primary and secondary sources.
Key Questions Answered in This Report on Automotive Camshaft Market
- How much value will the automotive camshaft market generate by the end of the forecast period?
- Which segment of the market is likely to have the maximum market share by 2027?
- What are the impact factors and there effects on the market for automotive camshaft?
- What regions currently contribute the maximum share to the overall automotive camshaft market?
- What are the indicators expected to drive the automotive camshaft market?
- What region is likely to be a lucrative market during the forecast period?
- What are the essential strategies by key stakeholders in the automotive camshaft market to expand their geographic presence?
- What are the major advancements witnessed in the automotive camshaft market?
- How regulatory norms affected the market for automotive camshaft market?