Automotive Camshaft Market Report 2024

The automotive camshaft market size has grown steadily in recent years. It will grow from $3.22 billion in 2023 to $3.36 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. During the historic period, growth can be attributed to several factors including advancements in materials and manufacturing processes, stringent emissions regulations, consumer demand for fuel efficiency and performance, a global rise in vehicle production, economic factors driving vehicle sales, and increased demand in the aftermarket.

The automotive camshaft market size is expected to see steady growth in the next few years. It will grow to $3.98 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. In the forecast period, growth can be attributed to the increasing electrification of vehicles, adoption of advanced engine technologies, integration of Industry 4 and automation, expansion in automotive markets, and growing aftermarket demand driven by vehicle aging and maintenance requirements. Key trends expected in this period include the transition towards electric vehicles (EVs), advancements in material technology, widespread adoption of variable valve timing (VVT), heightened focus on enhancing performance and efficiency, and the emergence of autonomous and connected vehicles.

The automotive camshaft market is set to expand due to increasing vehicle production. Advances in automotive technologies, including electric vehicles (EVs), autonomous driving, and enhanced fuel efficiency, are key drivers of this growth. These innovations are making vehicles more appealing to consumers and prompting increased production to meet rising demand. Automotive camshafts play a crucial role in regulating the timing and operation of engine valves, ensuring efficient combustion and power generation in vehicles produced at higher volumes. For example, data from CEIC Data in February 2023 showed that motor vehicle production in the United States rose to 10.61 million units, up from 10.05 million units in December 2022, representing a year-over-year growth of approximately 5.56% in vehicle production. Thus, the uptick in vehicle production is fueling expansion in the automotive camshaft market.

Leading companies in the automotive camshaft market are concentrating on integrating advanced technologies, such as camshaft position sensors, to maintain competitiveness while enhancing vehicle performance, efficiency, and reliability. Camshaft position sensors are sophisticated devices crucial for monitoring the camshaft's position and rotational speed, critical factors for optimal engine timing, performance, and fuel efficiency. For instance, Standard Motor Products, Inc., a U.S.-based manufacturer of automotive parts, recently expanded its lineup of camshaft and crankshaft position sensors to encompass both import and domestic vehicles. These sensors are essential as they precisely measure the position and speed of the camshaft and crankshaft in real-time, ensuring accurate timing crucial for engine performance, fuel efficiency, and emissions control.

In January 2024, Melling Engine Parts, a U.S.-based provider of automotive components, acquired Qualcast LLC to enhance its product portfolio, strengthen market presence, and capitalize on synergies in the automotive components sector. Qualcast LLC specializes in manufacturing engine components such as camshafts for the automotive industry and is based in the United States.

Major companies operating in the automotive camshaft market are ThyssenKrupp AG, Mahle GmbH, Sandvik AB, Linamar Corporation, Nemak S.A.B. de C.V., Kautex Textron GmbH & Co KG, Hirschvogel Holding GmbH, Standard Motor Products Inc., Piper RS Ltd, Riken Corporation, Melling Engine Parts, Varroc Group, Musashi Seimitsu Industry Co. Ltd., Schrick, Aichi Forge USA Inc, Engine Power Components Inc, Crower Cams & Equipment Co., Inc., LACO Camshafts, Camshaft Machine Company, Cloyes Gear & Products Inc., Howards Cams, Seojin Cam Co.Ltd., Newman Cams, ESTAS Camshaft & Chilled Cast, Shadbolt Cams, Nilax Overseas, Comp Performance Group.

North America was the largest region in the automotive camshaft market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive camshaft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the automotive camshaft market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The automotive camshaft is a crucial engine component responsible for controlling the timing and duration of valve openings and closings. It plays a vital role in synchronizing the intake of air and fuel and the expulsion of exhaust gases, directly impacting the engine's performance, fuel efficiency, and emissions.

Key types of automotive camshafts include cast camshafts, forged camshafts, and assembled camshafts. Cast camshafts are manufactured by pouring molten metal into a pre-formed mold, making them suitable for mass-market vehicles seeking cost-effective solutions. These camshafts are used across various vehicle categories such as passenger cars, light commercial vehicles, and heavy commercial vehicles, and are designed for both gasoline and diesel engines. They are distributed through sales channels including original equipment manufacturer (OEM) and the aftermarket.

The automotive camshaft market research report is one of a series of new reports that provides automotive camshaft market statistics, including automotive camshaft industry global market size, regional shares, competitors with an automotive camshaft market share, detailed automotive camshaft market segments, market trends and opportunities, and any further data you may need to thrive in the automotive camshaft industry. This automotive camshaft market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The automotive camshaft market consists of sales of ductile iron camshafts, composite camshafts, and hollow camshafts. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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