Automotive Camshaft Market (Vehicle Type: Passenger Vehicle and Commercial Vehicle; Fuel Type: Gasoline and Diesel; Engine Type: Inline Engine, V-engine, and Others; Manufacturing Technology: Cast Camshaft, Forged Camshaft, and Assembled Camshaft; and Sales Channel: OEM and Aftermarket)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027
The global Automotive Camshaft market gathered revenue around USD 3.01 Billion in 2020 and market is set to grow USD 28.4 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 4.2% during the prediction period 2021 to 2027.
The global automotive camshaft market is expected to impressive growth due to rise in demand and improvement in the automotive market globally. As the demand has risen for high performance and working, fuel efficient, and technically improved modern vehicles, the automotive component market has witnessed significant growth.
It is going relatively with the current trends in automotive production. In an automobile, camshaft is considered as an essential engine component. If viewed from a technical point of view, a camshaft performs the task of altering rotatory motion of crankshaft to oscillating motion of follower and that is being done through a cam profile.
The ongoing innovations that are taking place in the technology are being done to lower the weight of the camshafts. The strict emission norms that are laid down by the foreign bodies are imposing the producers to lay more emphasis on fuel and engine efficiency. The market is still going through the changeover from the traditional to modern technology camshafts in the sector of commercial vehicles.
The main objective behind the changeover is to optimize the performance level and cut down the related costs. Now this aspect is ultimately making it a more competitive market comparatively and a more promising one. Production of modern vehicles and the replacement demands are together compelling the automotive camshaft market to its peak. However, it can be observed that when compared to the requirement for the modern vehicles, the replacement demands are quite less.
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.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Automotive Camshaft market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Automotive Camshaft market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
|Market Size||USD 28.4 Billion by 2027|
|Growth Rate||CAGR of 4.2% From 2021 to 2027|
|Forecast Period||2021 to 2027|
|Historic Data||2017 to 2020|
|Report coverage||Growth Factors, Revenue Status, Competitive Landscape, and Future Trends|
|Segments Covered||Vehicle Type, Fuel Type, Engine Type, Manufacturing Technology, Sales Channel and Region
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||COMP Performance Group, Hirschvogel Holding GmbH, JBM Industries, JD Norman Industries, Inc., Kautex, MAHLE GmbH, Meritor, Inc., PCL India, Pipers RS Ltd., and Schrick Camshaft.|
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Automotive Camshaft market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Market Segmentation analysis:
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 2020.
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 2020. 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
Regional Analysis of Camshaft Market
In terms of region, the global camshaft market has been segregated into North America, Europe, Asia Pacific, and Rest of World. During 2020, Asia Pacific held a leading share of the global camshaft market in 2020, owing to high volume production of vehicles in China, India, and Japan. Asia Pacific is anticipated to hold a dominant share given the large consumer base in the region. Furthermore, several automakers have outsourced their production to China and India due to low manufacturing charges, which in turn is further expected to boost the camshaft market in Asia Pacific.
Asia Pacific is followed by Europe and North America, in terms of share of the global market. In terms of volume, the market in Latin America is projected to expand significantly, owing to the entry of foreign manufacturers in Mexico and Brazil, which in turn is estimated to boost the demand for camshaft. Prominent players
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Some of the prominent players in the Automotive Camshaft Market include: COMP Performance Group, Hirschvogel Holding GmbH, JBM Industries, JD Norman Industries, Inc., Kautex, MAHLE GmbH, Meritor, Inc., PCL India, Pipers RS Ltd., and Schrick Camshaft.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
- 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
- United Kingdom
- Rest of Europe
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- North Africa
- South Africa
- Rest of Middle East & Africa
Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Automotive Camshaft market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Automotive Camshaft market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Automotive Camshaft markets more accurate and reliable.
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Industry participants involved in this research study include:
- CEOs, VPs, market intelligence managers
- Procuring and national sales managers technical personnel, distributors and resellers
- Research analysts and key opinion leaders from various domains
Key Points Covered in Automotive Camshaft Market Study:
- Growth of Automotive Camshaft in 2021
- Market Estimates and Forecasts (2017-2027)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Automotive Camshaft and How to Navigate
- Key Product Innovations and Regulatory Climate
- Automotive Camshaft Consumption Analysis
- Automotive Camshaft Production Analysis
- Automotive Camshaft and Management