What Has Been the Growth of the Automotive Camshaft Market So Far?
The automotive camshaft market has seen considerable growth due to a variety of factors.
• The automotive camshaft market has experienced moderate growth in recent years. It will grow from $3.36 billion in 2024 to $3.51 billion in 2025, at a compound annual growth rate (CAGR) of 4.5%.
The growth is driven by advancements in materials and manufacturing processes, stricter emissions regulations, consumer demand for fuel efficiency and performance, higher vehicle production, economic factors supporting vehicle sales, and aftermarket demand.
What Are the Future Growth Projections for the Automotive Camshaft Market?
The automotive camshaft market is expected to maintain its strong growth trajectory in upcoming years.
• The automotive camshaft market is expected to grow to $4.15 billion by 2029, with a CAGR of 4.3%.
Growth is driven by vehicle electrification, advanced engine technologies, Industry 4.0 adoption, and growing demand in the aftermarket. Key trends include the shift to electric vehicles, advancements in material technology, variable valve timing (VVT) integration, and a focus on performance and efficiency.
What Are The Core Factors Supporting Growth In The Automotive Camshaft Market?
The growth in vehicle production is expected to propel the automotive camshaft market. Advancements in automotive technology, such as the rise of electric vehicles, autonomous driving, and better fuel efficiency, are driving growth in vehicle production. Camshafts, essential for controlling engine valve timing, are critical for efficient combustion and power generation in vehicles. According to CEIC Data, motor vehicle production in the United States grew by 5.56% year-over-year in February 2023, which is helping drive the growth of the automotive camshaft market.
What Are The Major Segments Within The Global Automotive Camshaft Market?
The automotive camshaft market covered in this report is segmented –
1) By Type: Cast Camshaft, Forged Camshaft, Assembled Camshaft
2) By Vehicle Type: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
3) By Fuel Type: Gasoline, Diesel
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Subsegments:
1) By Cast Camshaft: Grey Cast Iron Camshafts, Nodular Cast Iron Camshafts, Ductile Iron Camshafts, High-Performance Cast Camshafts
2) By Forged Camshaft: Steel Forged Camshafts, Billet Forged Camshafts, Lightweight Forged Camshafts, High-Strength Forged Camshafts
3) By Assembled Camshaft: Multi-Component Assembled Camshafts, Modular Camshaft Assemblies, Camshaft Assemblies With Variable Valve Timing Components, High-Performance Assembled Camshafts For Racing Or Performance Vehicles
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What Trends Are Shaping The Automotive Camshaft Market?
Companies in the automotive camshaft market are integrating advanced technologies like camshaft position sensors to improve vehicle performance. For example, in May 2024, Standard Motor Products expanded its range of camshaft and crankshaft position sensors to cover both import and domestic vehicles. These sensors are crucial for optimal engine timing and fuel efficiency, as they monitor the camshaft's position and rotational speed in real time.
Who Are the Key Players In The Automotive Camshaft Market?
Major companies operating in the automotive camshaft market are:
• ThyssenKrupp AG
• Mahle GmbH
• Sandvik AB
• Linamar Corporation
• Nemak S.A.B. de C.V.
• Kautex Textron GmbH & Co KG
• Hirschvogel Holding GmbH
• Standard Motor Products Inc.
• Piper RS Ltd
• Riken Corporation
• Melling Engine Parts
• Varroc Group
• Musashi Seimitsu Industry Co. Ltd.
• Schrick
• Aichi Forge USA Inc
• Engine Power Components Inc
• Crower Cams & Equipment Co.Inc.
• LACO Camshafts
• Camshaft Machine Company
• Cloyes Gear & Products Inc.
• Howards Cams
• Seojin Cam Co.Ltd.
• Newman Cams
• ESTAS Camshaft & Chilled Cast
• Shadbolt Cams
• Nilax Overseas
• Comp Performance Group
What Is The Most Dominant Region In The Automotive Camshaft Market?
North America was the largest region in the automotive camshaft market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive camshaft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
