“Automotive Crankshaft Market:
Global Demand Analysis & Opportunity Outlook 2024”
The
global automotive crankshaft market is segmented into vehicle type such as heavy
commercial vehicles, light commercial vehicles, luxury vehicles, passenger vehicles, sport utility vehicles, multi
utility vehicles and others. Among these segments, heavy commercial vehicles segment
is projected to mark a notable CAGR during the forecast period.
Likely, growing number of heavy commercial vehicles on the back of increased
transportation is predicted to foster the growth of global heavy commercial vehicles market. Moreover, continuous
development of automobile sector is envisioned to propel the growth of
automotive crankshaft market.
Global automotive crankshaft market is projected to post a noteworthy
CAGR of 2.2% over the forecast period i.e. 2017-2024. Additionally, the market
is riding on the back of growing automotive industry all over the globe. Moreover,
the global automotive crankshaft market
is anticipated to account notable revenue of USD 3.2 Billion by the end of
2024.
The forged steel segment by crankshaft
material is captured the biggest segment in overall automotive crankshaft market.
In 2016, highest demand for automotive crankshaft was seen from Asia-Pacific
region. The growth in the region is anticipated to be fostered by the
increasing purchasing power of the consumers which have given boost to the automobile
market and overall sales of the vehicles. In 2016, China and Japan are two of
the most prominent market in the region.
Increasing Demand for Automobiles
Rising demand for automobiles
in emerging economies such as China, India, and others is one of the key growth
drivers of global automotive crankshaft market. Moreover, global automotive
industry is booming on the account of urbanization and rising disposable
income. This massive growth of automotive industry is growing the automotive
crankshaft market all over the globe.
Technological
Advancement
Technological advancement in
the field of automotive crankshaft such as introduction of light weight automotive
crankshaft and rising adoption of two-wheeler by the population are some of the
major factors supplementing the market of automotive crankshaft all over the
globe.
On the contrary, rising fuel
cost and increasing environmental concerns regarding the usage of automobile across
the globe are expected to limits the growth of automotive crankshaft market.
Moreover, adoption of electric vehicle in developing and undeveloped nations is
hindering the demand of automotive crankshaft.
The
report titled “Automotive Crankshaft Market: Global Demand Analysis &
Opportunity Outlook 2024” delivers
detailed overview of the global automotive
crankshaft market in terms of market segmentation by vehicle
type, by crankshaft type, by crankshaft material and by region.
Further, for the in-depth
analysis, the report encompasses the industry growth drivers, restraints,
supply and demand risk, market attractiveness, BPS analysis and Porter’s five
force model.
This report also provides the
existing competitive scenario of some of the key players of the global automotive crankshaft market which includes
company profiling of Thyssenkrupp Crankshaft Company
LLC, NSI Crankshaft, Bryant Racing Inc., Arrow Precision, Maschinenfabrik
ALFING KESSLER GmBH, Ciguenales Sanz SL, Tianrun Crankshaft co. ltd., Mahindra
CIE Automotive, and NSI Crankshaft. The profiling enfolds key
information of the companies which encompasses business overview, products and
services, key financials and recent news and developments. On the whole, the
report depicts detailed overview of the global automotive crankshaft market that will help industry consultants,
equipment manufacturers, existing players searching for expansion
opportunities, new players searching possibilities and other stakeholders to
align their market centric strategies according to the ongoing and expected trends
in the future.
About Research
Nester
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strategic market research and consulting. We aim to provide unbiased,
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decision so as to avoid future uncertainties.
Read more Information: https://www.researchnester.com/reports/automotive-crankshaft-market-global-demand-analysis-opportunity-outlook-2024/349
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