Vehicle camshaft is one of the integral components of an engine and is primarily deployed in engines to open or close the valve, which allows the entry of fuel and also releases gases efficiently. The shape of the camshaft largely controls the action of the valve. The camshaft plays an important role in enhancing the fundamental functioning of an engine. Camshafts are extensively used in both modern-day overhead camshaft (OCH) engines as well as older engines. Technologies revolving around internal combustion engines have consistently evolved over the past few years and are largely inclined toward improving performance and efficiency. As the vehicle sector continues to emphasize on launching lightweight vehicles, improve fuel efficiency, and reduce carbon emission, camshaft manufacturers are increasingly developing new products in tune with these requirements. The vehicle sector has evolved at a rapid pace due to advancements in technology, innovations, and evolving industry requirements & standards. Internal combustion engines have experienced waves of modifications and innovations over a span of several decades. However, growing innovation in the vehicle sector is expected to foster the vehicle crankshaft market over the forecast period.
COVID-19 scenario analysis:
- The COVID-19 pandemic had a swift and severe impact on the globally integrated vehicle industry, which is placing intense pressure on the industry already coping with a downshift in global demand and leading to increased merger & acquisition activities.
- The COVID-19 pandemic has led to many changes in the car-buyer behavior.Digital services and features are being readily accepted by people as a way to stay connected, trackable, and safe.
- The auto industry has witnessed the impact of the coronavirus crisis evolve from a supply shock to a global demand shock.
- The vehicle industry is disrupted by the 4 megatrends, which are connected, autonomous, electric, and shared driving, causing an unprecedented technology and business model transformation amid this transformation due to the pandemic.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Some of the factors that boost the increasing adoption of hybrid vehicles and expanding vehicle manufacturing facilities are expected to spur the product demand over the forecast period. However, the presence of local vendors and the availability of low-quality camshaft in the market are hindering the growth of the global vehicle camshaft market over the forecast period. Furthermore, the rising vehicle fleet size is anticipated to offer lucrative opportunities for the market over the forecast period.
The vehicle camshaft market trends are as follows:
Increasing adoption of hybrid vehicles
Full-electric and hybrid vehicles have gained considerable popularity over the past decade. In addition, vehicle 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 the heat engine, companies operating in the current vehicle camshaft market landscape are increasingly focused on the design aspects of the vehicle camshaft.Therefore, the growth of hybrid vehicles was witnessed in most economies, which is expected to lead the vehicle camshaft market to grow at a remarkable pace during the forecast period.
Expanding vehicle manufacturing facilities
Increasingvehicle demand across the globe is encouraging vehicle manufacturers to increase their manufacturing capacity. Furthermore, this expansion of the manufacturing facility is increasing the production of vehicles, which is rising the demand for vehicle camshaft. In addition, the growing affluent middle-class population is positively impacting the demand for vehicle. These factors are envisioned to bolster the growth of the vehicle camshaft market over the forecast period.
Key benefits of the report:
- This study presents the analytical depiction of the vehicle camshaft 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 a detailed analysis of the vehicle camshaft market share.
- The current market is quantitatively analyzed to highlight the vehicle camshaft market scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Vehicle Camshaft Market Report Highlights
By Vehicle Type
By Sales Channel
Key Market Players
Crance Cams Inc., Engine Power Components Inc., Hirschvogel Holding GmbH, Comp Performance Group, JD Norman Industries, Inc., Shadbolt Cams, Linamar Corporation, Thyssenkrupp AG, ESTAS CAMSHAFT & CHILLED CAST, MAHLE GmbH