Vehicle Camshaft Market Forecasts to 2028 - Global Analysis By Type (Assembled Camshaft, Cast Camshaft and Forged Camshaft), Sales Channel (Manufacturer/Distributor/Service Provider and Aftermarket), Application and By Geography

According to Stratistics MRC, the Global Vehicle Camshaft Market is accounted for $2687.61 million in 2022 and is expected to reach $3601.65 million by 2028 growing at a CAGR of 13.39% during the forecast period. A vehicle's camshaft serves the purpose of transferring the rotating motion of the crankshaft into the oscillating motion of the follower through a cam profile, making it a crucial engine component. As the camshaft rotates, lobes (referred to as cams) push against the valves to open them; the valves' springs close the valves back up. This is a crucial task that can significantly affect how well an engine performs at various speeds.

According to the International Organization of Motor Vehicle Manufacturers (OICA), over 91 million new passenger and commercial vehicles were registered or sold globally in 2019. Of this, over 44 million motor vehicles, or nearly 48% of the global total, were sold in Asia. This has led to a significant rise in product demand in the region.



Market Dynamics:

Driver:

Increasing demand for high-performance

The global vehicle camshaft market's revenue growth is mostly attributed to rising vehicle production, the implementation of tight emission rules, increased demand for contemporary and complicated engines, and replacement of old and obsolete engines everywhere in the world. In addition, double overhead camshafts (DOHC) are becoming more common in modern engines due to the rising need for powerful and fuel-efficient engines. Contrary to inline engines, which only have one vehicle camshaft, DOHC engines have two camshafts. It is anticipated that use of more vehicle camshafts per engine block would increase.

Restraint:

Rising maintenance costs of advanced camshafts

The expansion of the worldwide vehicle camshaft market is significantly constrained by a number of adverse aspects. Growth may be hampered by growing worries about the stringent guidelines and standards set by governmental organisations to reduce emissions from internal combustion automobiles. Additionally, suppliers of automotive components are always required to adhere to strict government regulations. Further impeding the growth of the vehicle camshaft market in the coming years would be rising maintenance costs for advanced camshafts.

Opportunity:

Steady progression in internal combustion engine technologies

The digitalization of medical or patient data has increased data liabilities and hazards as well as the likelihood of data breaches. This may be mostly due to a lack of internal controls over patient information, adherence to ineffective or outdated rules and processes, and insufficient staff training. The adoption of HCIT solutions in the short-term awaiting process are engaged to address current concerns may be influenced by the likelihood of data security and privacy breaches related to digitalization. As a result, this can unhelpfully force the market to grow.

Threat:

Huge cost of replacement

Perfect valve openings by the camshaft are necessary for improved vehicle performance. Therefore, the camshaft is an essential component of the car. The majority of the materials used to make the camshaft are billet steel and chilled cast iron. Over the course of the forecast period, it is anticipated that the high maintenance and replacement costs of camshafts will impede the market's expansion.

Covid-19 Impact

Since its emergence, the COVID-19 virus has spread to every country in the globe, costing a great deal of money and lives. The global manufacturing, travel, and financial sectors have all taken a heavy hit, while the online market and industry have grown. Fortunately, the negative effects of COVID-19 are anticipated to diminish and the world economy to recover thanks to the development of a vaccine and other efforts by international governments and organisations.

The cast camshaft segment is expected to be the largest during the forecast period

Based on the type, the market is classified into Assembled Camshaft, Cast Camshaft and Forged Camshaft. The cast camshaft segment is projected to control the global vehicle camshaft market and most liable explanation for the majority of the share during the forecast period. Due to low cost and ease of machining. This market segment is expected to rise as a result of the camshaft's enhanced design flexibility and ability to lighten the camshaft's weight through better fuel efficiency and lower emissions.

The passenger vehicle segment is expected to have the highest CAGR during the forecast period

Based on the application, the market is segmented into Passenger Vehicle and Commercial Vehicle. The passenger vehicle segment is captured to be more profitable and predicted to record a strong CAGR during the forecast period. Due to the continent's expanding car fleet and rising per capita vehicle ownership Over 75% of the region's total vehicle production was made up primarily of passenger automobiles in 2019. The rising sales and production of passenger vehicles in developing countries is expected to boost the growth of the market.

Region with highest share:

According to the region's rapidly expanding automotive industry, the Asia Pacific is predicted to hold a sizeable market share in the global market for cars phase variators throughout the forecast period. Due to the low costs, several automakers are relocating their manufacturing facilities to growing economies like China and India. In addition, many automakers are importing automotive parts and components from the Asia Pacific region.

Region with highest CAGR:

Over the projected period, the vehicle camshaft market in Asia Pacific is anticipated to grow at the fastest rate of CAGR. The region's market is expected to rise as a result of the region's rapid urbanisation and rising production of small automobiles, large trucks, and trailers, particularly in developing nations like China and India. The expansion of the vehicle camshaft market in Asia Pacific will also be aided by the region's expanding middle class, favourable reimbursement policies, increased auto insurance policy launches, and rising crime and injury risks.

Key players in the market

Some of the key players profiled in the Vehicle Camshaft Market include ThyssenKrupp, MAHLE, ESTAS, LACO, Musashi Seimitsu, Zhongzhou Group, Federal-Mogul, Xiyuan Camshaft, Riken, Kautex Textron (CWC), Seojin Cam, Precision Camshafts, Linamar, Shenglong, Schleicher Fahrzeugteile, Hejia Industry, Tongxin Machinery, Nippon Piston Ring, XILING Power

Key Developments:

In 2019, ThyssenKrupp AG has invested approximately USD 17.4 Billion for the expansion of a camshaft plant in Pécs, Hungary. The new manufacturing unit have the facility to manufacturer integrated camshaft with improved quality, using the advanced technologies across the production line.

Type Covered:
• Assembled Camshaft
• Cast Camshaft
• Forged Camshaft

Sales Channel Covered:
• Manufacturer/Distributor/Service Provider
• Aftermarket

Application Covered:
• Passenger Vehicle
• Commercial Vehicle

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances