Automotive Crankshaft Market

Rapid Expansion of Automotive Industry Fuels Global Automotive Crankshaft Market
to Reach US$3 bn by 2021
Transparency Market Research (TMR) has recently published a market study on
the global automotive crankshaft market, estimating the market to expand at a CAGR
of 2.10% during the period from 2015 to 2021 and reach a market value of US$3 bn
by the end of the forecast period.The research report, titled “Automotive Crankshaft
Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 2021”, states that worldwide automotive crankshaft market stood at US$2.5 bn in
2014.
The expansion of the worldwide automotive crankshaft market depends on the
dynamics of the global automotive industry. Currently, the automotive industry is
reporting an immense growth in the global arena, which is subsequently driving the
global automotive crankshaft market. The huge capital required for R&D activities for
the further advancement of crankshaft is, however, creating a severe challenge for
the market, as per the report.The report analyzes the global automotive crankshaft
market on the basis of the types of crankshafts, materials utilized, and the types of
vehicles.
Based on types, the global automotive crankshaft market is classified into the markets
for flat plane crankshaft and cross plane crankshaft. The flat plane crankshaft market
is leading the overall market at present. Forged steel and cast iron are the primary
materials utilized to make automotive crankshaft.The markets for light commercial
vehicles, heavy commercial vehicle, sports utility vehicles (SUV), multi utility vehicles
(MUV), passenger vehicles, and other vehicles are the major segments of the
worldwide automotive crankshaft market on the basis of vehicle types. Among these,
the market for passenger vehicles is likely to register the highest growth over the
forecast period.
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The increasing disposable income among middle-class consumers has led to increasing
preference for passenger vehicles, thereby fuelling the demand for automotive
crankshaft to a great extent. In addition to this, the global market for automotive
crankshaft is projected to experience a significant demand during the forecast period,
owing to the escalating demand for diesel cars and heavy commercial vehicles across
the globe, the report states.
North America, Asia Pacific, Europe, and the Rest of the World are the primary
regional markets for automotive crankshaft. According to the report, the automotive
crankshaft market in Europe led the global market in 2014 and was closely followed
by the market in North America. High disposable income has raised the purchasing
power of consumer in these regions, which has triggered the demand for automobiles
and eventually, the demand for automotive crankshaft significantly.
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Automotive Crankshaft Market

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