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The automotive camshaft market share is expected to increase by 38.81 million units from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.25%.
This automotive camshaft market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive camshaft market segmentations by material (cast iron and billet steel) and geography (APAC, Europe, North America, South America, and MEA). The automotive camshaft market report also offers information on several market vendors, including Freudenberg SE, Kalyani Group, Linamar Corp., MAHLE GmbH, Meritor Inc., NEMAK SAB de CV, Precision Camshaft Ltd., Sandvik AB, Textron Inc., and Thyssenkrupp AG among others.
Download Report Sample to Unlock the Automotive Camshaft Market Size for the Forecast Period and Other Important Statistics
The continuous improvements in automotive engine is notably driving the automotive camshaft market growth, although factors such as high cost associated with replacement may impethe de market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive camshaft industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Camshaft Market Driver
The adoption of new or improved emission standards is one of the key drivers supporting the automotive camshaft market growth during the forecast period. One of the major factors boosting the growth of the global automotive camshaft market is the strict enforcement of new and improved emission norms. Enforcement of stringent emission norms has necessitated the use of lightweight and durable automotive camshafts. In most of the major automotive markets, such as the US, the UK, China, and India, Euro 6 emission standards or country-specific equivalents are expected to be implemented during the forecast period. Moreover, this emission standard is equivalent to the Euro 6 emission standard. As per China's Ministry of Ecology and Environment, on-road vehicles account for more than 90% of particulate matter emissions and almost 70% of nitrogen oxide emissions. Therefore, the introduction of new emission standards or the modification of existing standards requires automotive component manufacturers to be proactive in adopting technologies in line with these standards. Hence, the adoption of new or improved emission standards mandates the incorporation of new or advanced technologies, which will have a positive impact on the growth of the global automotive camshaft market during the forecast period.
Key Automotive Camshaft Market Trend
The use of advanced yet rigid materials and technology for camshaft production is one of the key automotive camshaft market trends during the forecast period. The global automotive camshaft market consists of numerous camshaft manufacturers that use iron casting or forging for camshaft production for daily commuting vehicles. Such camshafts are known as one-piece camshafts. They have a low cost of production with less complex geometric requirements and have the capacity for high vibration absorption. However, they are less efficient and heavy. The global automotive market is advancing with time. Camshaft designers and manufacturers are integrating advanced materials in the production of automotive camshafts. Furthermore, the increasing government norms and regulations on vehicular emissions and fuel economy are forcing OEMs to produce lightweight vehicles with low fuel consumption and high durability and performance. Hence, automotive camshaft manufacturers are shifting their focus toward altering the structure of camshafts to integrate them with cylinder heads to achieve higher fuel efficiency and durability.
Key Automotive Camshaft Market Challenge
The increasing popularity of additive manufacturing in the automotive industry automotive camshaft market is one of the challenges hampering the artificial intelligence (AI) market growth. 3D printing or additive manufacturing technology is one of the fast-developing technologies used in various industries. The automotive industry is one of the significant contributors to the additive manufacturing industry. According to estimates, the automotive industry accounts for approximately one-eighth of the revenue generated by additive manufacturing. Increasing manufacturing cost, especially of products that have complex designs and are manufactured in low volumes, offers immense potential for additive manufacturing. Automotive manufacturers have started adopting the latest manufacturing technologies like additive manufacturing to reduce their manufacturing costs. Therefore, the growing popularity of additive manufacturing in the automotive industry is expected to have a positive impact on the global auto parts and equipment market.
This automotive camshaft market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global automotive camshaft market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive camshaft market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive camshaft market encompasses successful business strategies deployed by the key vendors. The automotive camshaft market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive camshaft market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.
Our report provides extensive information on the value chain analysis for the automotive camshaft market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global automotive components and accessories market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Material
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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