[FURL=https://www.industryarc.com/Research/Automotive-Crankshaft-Market-Research-510770?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Automotive Crankshaft Market[/FURL] Size is forecast to reach $3.2 billion by 2026, growing at a CAGR of 2.2% during 2021-2026. The rising demand for high engine power transmission vehicles across the globe and the surging demand for automobiles led to create potential for the Automotive Crankshaft industry during the forecast period. The crankshaft in the diesel engine has to serve higher strength and vibrations mechanical devices. Owing to this, many crankshaft manufacturers are developing advanced carbon steel alloy crankshaft with improved fatigue strength, reliability, and quality.Key Takeaways
Industrialization, driven by the growing demand for automotive and other machinery, is expected to lead the growth of the global automotive crankshaft market during the forecast period.
Technological innovations are playing an instrumental role in brightening the prospects of this market in the forecast period 2021-2026.
Machined billet crankshafts are gaining popularity among high end sports cars, thus expected to drive the market.
Automotive Crankshaft companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers.
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Automotive Crankshaft Market Segment Analysis - By Geography
Automotive Crankshaft market in Europe region held significant market share of 36.5% in 2020, owing to the advancements made by the region’s robust automotive sector in engine technologies. These technologies have promoted innovation in ICE vehicles, which has favored the adoption of inventively designed crankshaft components. Further the adoption of new emission standards euro6 and others are notably supporting the automotive crankshaft market growth. Further continuous development in automobile sector, increasing sales of high performance cars and high end sports cars has propelled the market for automotive crankshaft in Europe.
Automotive Crankshaft Market Drivers
Growing demand for automotive vehicles across the globe
Growing innovations will aid the market growth
Automotive Crankshaft Market Landscape
Automotive Crankshaft top 10 companies include Arrow Precision Ltd., CIE Automotive SA, Crower Cams & Equipment Co. Inc., Farndon Engineering Ltd., Kalyani Group, Maschinenfabrik ALFING Kessler GmbH, Metalyst Forgings Ltd., Nippon Steel Corp., Thyssenkrupp AG, Tianrun Crankshaft Co. Ltd. among others.
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