Crankshaft is a mechanical device that serves as the heart of an automotive engine. It can convert the linear reciprocating motion of the piston to a rotary motion for engine power transmission. These are widely utilized in the automotive field, including cars, trucks, trains, and other automobiles., A vehicle would not be able to move even an inch without crankshaft, as it is the primary connection between input and output powers. Crankshafts should have very high fatigue strength and wear resistance to ensure long service life. Furthermore, the automotive crankshaft has several uses in various industrial sectors such as the automobile sector, industrial machinery sector, and printing devices. Asia-Pacific comprises some fastest emerging economies including India and China. These regions have significantly higher demand than other countries and include the higher demands for heavy commercial vehicles and high-end luxury vehicles along with others vehicles. Taking into consideration all these factors, the global market of the automotive crankshaft, in the Asia-Pacific region will continue to expand at a rapid rate throughout the forecast period
COVID-19 Impact Analysis
- The global automobile sector experienced tremendous challenges during the COVID-19 pandemic as the manufacturing facilities were closed, inventories began to overflow, and the demand completely subsided. Services across the globe have halted due to the transit restriction. Airlines and ships ceased operations, in many countries, making cargo transportation difficult. This is estimated to result in huge losses to manufacturers. Automobile manufacturers, consumer electronics manufactures, and pharmaceuticals companies in various countries depend on China and other developed countries for the supply of several raw materials. However, due to the pandemic, this got severely affected. The supply chain has been disrupted for a long period as a result of lockdown and the demand has completely subsided, which is estimated to take a very long time to revive. The unavailability of skilled labor has also impacted the automotive motors market as people preferred to maintain social distancing and avoid travelling due to restrictions; thus, affecting the production of the automotive motors.
Top Impacting Factors
Increase in demand for performance engine, innovation & technological development, and growth of tourism sector drive the growth of the market.
High cost of billet crankshaft and high R&D expenditure hinder the market growth.
Rise in demand for manufacturing of crankshaft for passenger vehicles, and increase in disposable income act as an opportunity for the market investments.
The Global Automotive Crankshaft Market Trends are as Follows:
Innovation & Technological Development
- The global automotive crankshaft market size is expected to begin a period of rapid development as a result of potential improvements in crankshaft technology by some of the top companies in the auto industry. The crankshaft is the most essential component of an internal combustion engine (ICE) as it converts linear motion into rotational motion that powers the vehicle. Many of the leading automotive industry giants have been working on improved crankshaft solutions utilizing new-age technologies and materials. For instance, in March 2020Honda developed a 3D printed automotive crankshaft composed of metal, designed to reduce the final weight of the vehicle as well as improve its fuel efficiency. The company aims at scaling up the production of its novel offering in the next few years. In February 2021, BMW introduced its high-performance cars, the M3 and M4, with naturally-aspirated engines. The crankshaft is forged from chrome molybdenum heat-treated steel, with crankpins connected spherically to allow the bearings to move more smoothly. These innovations are playing an instrumental role in brightening the prospects of this market. Thus, innovation & technological development are driving the market growth.
Key Benefits of the Report:
- This study presents the analytical depiction of the global automotive crankshaft market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the global automotive crankshaft market.
- The current market is quantitatively analyzed to highlight the growth scenario of the global automotive crankshaft market.
- The report provides a detailed global automotive crankshaft market analysis based on competitive intensity and the competition that will take shape in coming years.
Questions Answered in the Global Automotive Crankshaft Market Research Report:
- Who are the leading market players active in the global automotive crankshaft market?
- What would be the detailed impact of COVID-19 on the market?
- What are the current trends that would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the global automotive crankshaft market?
- What are the future projections that would help in taking further strategic steps?
Key Market Segments
- By Material
- Forged steel
- Cast iron/steel
- Machined billet
- By Type
- By Vehicle Type
- Passenger Car
- Commercial Vehicle
- By Region
- North America
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Crower Cams & Equipment,
- Sandvik,
- Bharat Forge,
- Rheinmetall,
- Farndon Engineering,
- Thyssenkrupp,
- Kellogg Crankshaft Company.
- NSI Crankshaft,
- Maschinenfabrik ALFING Kessler,
- TIANRUN CRANKSHAFT,