Vehicle Camshaft Market
Vehicle Camshaft Market Forecasts to 2030 - Global Analysis By Vehicle Type(Heavy Commercial Vehicles, Light Commercial Vehicles, Passenger Vehicles and Other Vehicle Types), Manufacturing Technology and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $3,098.8 MN |
|
Projected Year Value (2030) |
US $8,394.5 MN |
|
CAGR (2023 - 2030) |
15.3% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Vehicle Camshaft Market is accounted for $3,098.8 million in 2023 and is expected to reach $8,394.5 million by 2030 growing at a CAGR of 15.3% during the forecast period. The valvetrain system of an automobile's engine is crucially dependent on its camshaft, which regulates when the engine's intake and exhaust valves open and close. An engine's overall performance and efficiency are greatly influenced by the camshafts. The timing and length of valve openings and closings are optimized by camshaft design. By enabling more air and fuel to enter the combustion chamber during the intake stroke and by effectively releasing exhaust gases during the exhaust stroke, a well-tuned camshaft can increase an engine's power output.
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 internal combustion engines (ICEs)
The demand for camshafts is significantly influenced by the automotive sector. Government mandates for increased fuel economy and decreased emissions can spur engine design innovation. As technology advances, it might be able to produce camshafts that perform better while requiring less maintenance, increasing demand for upgrades and replacements. The need for ICEs could rise as more people in emerging markets buy cars, which would then raise the need for camshafts.
Restraint:
Maintenance and Replacement
It can be labour and money-intensive to replace a worn-out or defective camshaft or the parts that go with it, especially in older engines with fewer contemporary maintenance features. There may be a need for additional soundproofing and vibration dampening measures due to the camshaft's potential for noise and vibration, particularly in engines with mechanical lifters. The market growth is being controlled by this constraint.
Opportunity:
Increase in sale of automotive vehicles
Large diesel engines typically have a camshaft pushrod system fitted to deliver lubricating oil to the cylinder head. An essential part of the engine is the camshaft. Vehicle production may rise as a result of the automotive industry's expansion, particularly in emerging regions. Camshafts are in greater demand as more vehicles are produced. As a result, it is anticipated that increasing auto sales will fuel market expansion.
Threat:
High cost
Internal combustion engines camshafts, which regulate the valves opening and shutting, are essential to the engine's operation. These components need sophisticated machining and material selection because they are precision-engineered. The high cost of production procedures like CNC machining, heat treating, and quality control can have a substantial impact on the entire price of camshafts. Vehicle camshafts come with high expenses, which can be problematic for both producers and customers in the automobile sector.
Covid-19 Impact:
The Covid-19 pandemic has had a severe impact on the industry's total production. The variety of limitations announced by governments around the world to stop the disease's spread caused supply chain delays and the shutdown of some production sites. The pandemic also had a detrimental influence on the sales of passenger and commercial vehicles, which in turn affected the market for automotive camshafts. However, the industry is expected to experience significant expansion over the projected period due to the recovery of economies and the progressive easing of limitations.
The passenger vehicle segment is expected to be the largest during the forecast period
The passenger vehicle segment is expected to be the largest during the forecast period, owing to the surging production and sales of passenger cars. More people are residing in surrounding towns and utilizing passenger vehicles for commuting as a result of a growing population and overpopulation in big cities, which raises the demand for passenger vehicles. Camshafts are crucial for keeping the engine healthy and avoiding overheating in places with high traffic.
The cast camshaft segment is expected to have the highest CAGR during the forecast period
The cast camshaft segment is expected to have the highest CAGR during the forecast period. Cast camshafts are frequently utilized in the automotive sector because they are affordable and suitable for mass production. They are versatile and suited for a range of engine layouts. They also offer exceptional dimensional accuracy. Due to its broad acceptance in OEM and aftermarket applications, the industry is anticipated to experience consistent growth.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. In the region, camshafts are used in a wide variety of automobiles, including cars, trucks, motorcycles, and other motorized vehicles. They are an essential component of the engine's valve train system and cooperate with the crankshaft to guarantee accurate timing and synchronization of the intake and exhaust valves.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period owing to the growing production as well as sales of passenger cars in emerging economies. More cars are being sold as a result of rising disposable incomes and the availability of vehicles, and major automakers are also growing their regional production facilities. Because of this expansion, there is now more need for automobile parts, particularly camshafts.
Key players in the market
Some of the key players in Vehicle Camshaft market include Camshaft Machine Company, JBM Industries, Precision Camshafts Ltd., LACO camshafts, Thyssenkrupp AG, Piper RS Ltd, Varroc Group, Nilax Overseas, Newman Cams, Meritor, Inc., Comp Performance Group, Melling Engine Parts, Kautex Textron GmbH & Co. KG, Crance Cams Inc. and MAHLE GmbH.
Key Developments:
In June 2023, Automobile components maker JBM Auto is the leading contender to acquire a controlling stake in SML Isuzu, the Chandigarh-headquartered commercial vehicle maker whose promoters include the Japan-based Sumitomo Corporation and Isuzu Motors.
In May 2023, Thyssenkrupp and IRENA agree to accelerate green hydrogen solutions. The International Renewable Energy Agency (IRENA) has signed a partnership agreement with thyssenkrupp aimed at advancing the green transformation in pursuit of global development and Paris Agreement goals.
Vehicle Types Covered:
• Heavy Commercial Vehicles
• Light Commercial Vehicles
• Passenger Vehicles
• Other Vehicle Types
Manufacturing Technologies Covered:
• Forged Steel Camshaft
• Assembled Camshaft
• Cast Camshaft
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 2021, 2022, 2023, 2026, and 2030
- 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
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Emerging Markets
3.7 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Vehicle Camshaft Market, By Vehicle Type
5.1 Introduction
5.2 Heavy Commercial Vehicles
5.3 Light Commercial Vehicles
5.4 Passenger Vehicles
5.5 Other Vehicle Types
6 Global Vehicle Camshaft Market, By Manufacturing Technology
6.1 Introduction
6.2 Forged Steel Camshaft
6.3 Assembled Camshaft
6.4 Cast Camshaft
7 Global Vehicle Camshaft Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Camshaft Machine Company
9.2 JBM Industries
9.3 Precision Camshafts Ltd.
9.4 LACO camshafts
9.5 Thyssenkrupp AG
9.6 Piper RS Ltd
9.7 Varroc Group
9.8 Nilax Overseas
9.9 Newman Cams
9.10 Meritor, Inc.
9.11 Comp Performance Group
9.12 Melling Engine Parts
9.13 Kautex Textron GmbH & Co. KG
9.14 Crance Cams Inc.
9.15 MAHLE GmbH
List of Tables
1 Global Vehicle Camshaft Market Outlook, By Region (2021-2030) ($MN)
2 Global Vehicle Camshaft Market Outlook, By Vehicle Type (2021-2030) ($MN)
3 Global Vehicle Camshaft Market Outlook, By Heavy Commercial Vehicles (2021-2030) ($MN)
4 Global Vehicle Camshaft Market Outlook, By Light Commercial Vehicles (2021-2030) ($MN)
5 Global Vehicle Camshaft Market Outlook, By Passenger Vehicles (2021-2030) ($MN)
6 Global Vehicle Camshaft Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
7 Global Vehicle Camshaft Market Outlook, By Manufacturing Technology (2021-2030) ($MN)
8 Global Vehicle Camshaft Market Outlook, By Forged Steel Camshaft (2021-2030) ($MN)
9 Global Vehicle Camshaft Market Outlook, By Assembled Camshaft (2021-2030) ($MN)
10 Global Vehicle Camshaft Market Outlook, By Cast Camshaft (2021-2030) ($MN)
11 North America Vehicle Camshaft Market Outlook, By Country (2021-2030) ($MN)
12 North America Vehicle Camshaft Market Outlook, By Vehicle Type (2021-2030) ($MN)
13 North America Vehicle Camshaft Market Outlook, By Heavy Commercial Vehicles (2021-2030) ($MN)
14 North America Vehicle Camshaft Market Outlook, By Light Commercial Vehicles (2021-2030) ($MN)
15 North America Vehicle Camshaft Market Outlook, By Passenger Vehicles (2021-2030) ($MN)
16 North America Vehicle Camshaft Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
17 North America Vehicle Camshaft Market Outlook, By Manufacturing Technology (2021-2030) ($MN)
18 North America Vehicle Camshaft Market Outlook, By Forged Steel Camshaft (2021-2030) ($MN)
19 North America Vehicle Camshaft Market Outlook, By Assembled Camshaft (2021-2030) ($MN)
20 North America Vehicle Camshaft Market Outlook, By Cast Camshaft (2021-2030) ($MN)
21 Europe Vehicle Camshaft Market Outlook, By Country (2021-2030) ($MN)
22 Europe Vehicle Camshaft Market Outlook, By Vehicle Type (2021-2030) ($MN)
23 Europe Vehicle Camshaft Market Outlook, By Heavy Commercial Vehicles (2021-2030) ($MN)
24 Europe Vehicle Camshaft Market Outlook, By Light Commercial Vehicles (2021-2030) ($MN)
25 Europe Vehicle Camshaft Market Outlook, By Passenger Vehicles (2021-2030) ($MN)
26 Europe Vehicle Camshaft Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
27 Europe Vehicle Camshaft Market Outlook, By Manufacturing Technology (2021-2030) ($MN)
28 Europe Vehicle Camshaft Market Outlook, By Forged Steel Camshaft (2021-2030) ($MN)
29 Europe Vehicle Camshaft Market Outlook, By Assembled Camshaft (2021-2030) ($MN)
30 Europe Vehicle Camshaft Market Outlook, By Cast Camshaft (2021-2030) ($MN)
31 Asia Pacific Vehicle Camshaft Market Outlook, By Country (2021-2030) ($MN)
32 Asia Pacific Vehicle Camshaft Market Outlook, By Vehicle Type (2021-2030) ($MN)
33 Asia Pacific Vehicle Camshaft Market Outlook, By Heavy Commercial Vehicles (2021-2030) ($MN)
34 Asia Pacific Vehicle Camshaft Market Outlook, By Light Commercial Vehicles (2021-2030) ($MN)
35 Asia Pacific Vehicle Camshaft Market Outlook, By Passenger Vehicles (2021-2030) ($MN)
36 Asia Pacific Vehicle Camshaft Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
37 Asia Pacific Vehicle Camshaft Market Outlook, By Manufacturing Technology (2021-2030) ($MN)
38 Asia Pacific Vehicle Camshaft Market Outlook, By Forged Steel Camshaft (2021-2030) ($MN)
39 Asia Pacific Vehicle Camshaft Market Outlook, By Assembled Camshaft (2021-2030) ($MN)
40 Asia Pacific Vehicle Camshaft Market Outlook, By Cast Camshaft (2021-2030) ($MN)
41 South America Vehicle Camshaft Market Outlook, By Country (2021-2030) ($MN)
42 South America Vehicle Camshaft Market Outlook, By Vehicle Type (2021-2030) ($MN)
43 South America Vehicle Camshaft Market Outlook, By Heavy Commercial Vehicles (2021-2030) ($MN)
44 South America Vehicle Camshaft Market Outlook, By Light Commercial Vehicles (2021-2030) ($MN)
45 South America Vehicle Camshaft Market Outlook, By Passenger Vehicles (2021-2030) ($MN)
46 South America Vehicle Camshaft Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
47 South America Vehicle Camshaft Market Outlook, By Manufacturing Technology (2021-2030) ($MN)
48 South America Vehicle Camshaft Market Outlook, By Forged Steel Camshaft (2021-2030) ($MN)
49 South America Vehicle Camshaft Market Outlook, By Assembled Camshaft (2021-2030) ($MN)
50 South America Vehicle Camshaft Market Outlook, By Cast Camshaft (2021-2030) ($MN)
51 Middle East & Africa Vehicle Camshaft Market Outlook, By Country (2021-2030) ($MN)
52 Middle East & Africa Vehicle Camshaft Market Outlook, By Vehicle Type (2021-2030) ($MN)
53 Middle East & Africa Vehicle Camshaft Market Outlook, By Heavy Commercial Vehicles (2021-2030) ($MN)
54 Middle East & Africa Vehicle Camshaft Market Outlook, By Light Commercial Vehicles (2021-2030) ($MN)
55 Middle East & Africa Vehicle Camshaft Market Outlook, By Passenger Vehicles (2021-2030) ($MN)
56 Middle East & Africa Vehicle Camshaft Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
57 Middle East & Africa Vehicle Camshaft Market Outlook, By Manufacturing Technology (2021-2030) ($MN)
58 Middle East & Africa Vehicle Camshaft Market Outlook, By Forged Steel Camshaft (2021-2030) ($MN)
59 Middle East & Africa Vehicle Camshaft Market Outlook, By Assembled Camshaft (2021-2030) ($MN)
60 Middle East & Africa Vehicle Camshaft Market Outlook, By Cast Camshaft (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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