Automotive Camshaft Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030

Key Market Insights

Rising automotive sales will spur the market revenue growth

The global automotive camshafts market accounted for US$ 815.1 Mn in 2021 and is anticipated to grow to US$ 1106.6 Mn expanding at a CAGR of 3.5% during the forecast period from 2022 to 2030. In volume terms, the market registered sales of 186.15 Mn Units in 2020 and is estimated to reach 250.86 Mn Units by 2030 growing at a CAGR 3.8% during the forecast period.

Increasing interest in electric and hybrid vehicles coupled with advancement in valve technology are factors proliferating the demand of automotive camshaft market. The rapidly rising sales of automotive across the globe is also one of the key factors propelling the demand of the automotive camshaft market. Apart from this, camshaft are used to control valves of vehicles thus are having a high demand amongst the automakers across the globe. A combination of factors including rising income levels particularly in developing economies, increasing number of passenger vehicles used for recreational purposes and rising sales of automotive globally are factors propelling the growth of global automotive camshaft market. For instance, the total global sales of automotive including passenger vehicles, commercial vehicles, three wheelers, and two-wheelers accounted for 3,09,15,420 in 2020-19 from 2,90,73,892 in 2019-18.

In addition, the rising emission standards across the globe, alteration of old engines and rising requirement of modern and advanced engines are further enhancing the growth of the automotive camshaft market. However, the factors such as higher replacement cost and huge capital requirement are expected to hamper the automotive camshaft market growth

Product Analysis

Forged Camshaft segment to dominate the market during the forecast period

Based on product type, the automotive camshafts market is classified into cast camshaft, forged camshaft and assembled camshaft. Forged camshaft segment led the global automotive camshafts market in terms of both revenue and volume. This can be attributed with the numerous benefits offered by forged camshaft including performance improvement, better capacity to withstand huge loads, and extends mold wear failure cycle.

In contrast, cast camshaft segment is projected to grow with the highest CAGR during the forecast period. This is can be attributed with advantages including smooth finishing, and dimensional accuracy among others. The rising adoption of cast camshaft in both passenger and commercial vehicles is further boosting the growth of the automotive camshaft market.

Regional Analysis

Availability of cheap raw material and labor to bolster the growth in Asia Pacific region

In 2021, Asia Pacific region dominated the global automotive camshaft market in terms of both revenue and volume. It contributed for a share of more than 30% in revenue terms and more than 40% in terms of volume. This can be associated with availability of cheap labor and raw material at a cost effective rate owing to the region being one of the global leaders in producing steel and iron. China accounted for a share of more than 25% globally in terms of volume. This can be associated with high volume production of automotive vehicles in the region, rising per capita income levels and rapid urbanization. Thereby proliferating the demand of global automotive camshaft market.

In contrast, Europe region is expected to expand at a significant growth rate. Owing to the presence of large number of automotive component producers and existence of large number of automotive manufacturers in the region. Germany held the largest share in terms of both value and volume is expected to show similar trend throughout the forecast period.

List of Companies Covered:

• COMP Performance Group
• Precision Camshaft Limited
• MAHLE GmbH
• Hirschvogel Holding GmbH
• JBM Industries
• JD Norman Industries, Inc.
• Kautex
• Meritor, Inc.
• Schrick Camshaft
• Pipers RS Ltd

Key Industry Development:

• In March 2020, Precision Camshaft Limited announced the acquisition of German company Motoren und Fahrzeugtechnik GmbH. The company has acquired 76% stake in the company. This acquisition will help the company to expand its global presence and increase its product portfolio.
• In October 2019, Precision Camshafts Limited announced the acquisition of MEMCO Engineering Private Limited. This acquisition of will help the company strengthen its position in the market and provide a more diversified product portfolio to its customers.

Historical & Forecast Period

This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Automotive Camshaft market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Automotive Camshaft market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Product Type

• Cast Camshaft
• Forged Camshaft
• Assembled Camshaft

Vehicle Type

• Passenger Vehicles
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Sales Channel

• OEM
• Aftermarket

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Automotive Camshaft market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2030.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Automotive Camshaft market?
• Which is the largest regional market for Automotive Camshaft market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Automotive Camshaft market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Automotive Camshaft market worldwide?