An automotive camshaft is a vital component in an automobile’s engine. It finds immense application in the internal combustion engine. In an automobile, internal combustion engine occurs by allowing small amounts of fuel and air mixture into various parts of an engine at different times through a number of valves. The camshaft is a metal shaft, which rotates continuously and pushes protruding parts such as lobes against the valves carrying the fuel and air mixture. As the camshaft rotates, the movement of the lobes open the valves. The lobes are generally round teardrop shaped or oval. There is one lobe in the camshaft for every valve as each valves are positioned differently to push open each and every specific valves at different times. In order to have a better performance of a vehicle, it is extremely important to have camshafts that can time the opening of valves perfectly. The two major materials used for the manufacturing of camshafts are chilled iron castings and billet steel.
Increasing production of vehicles and rising demand for passenger vehicles is a major driving factor for the automotive camshaft market. In addition, rising trend of engine downsizing and stringent automobile standards are the other major factors motivating the growth for advanced and light-weight camshafts globally. Moreover, growth in the automotive sector and rising investments in automotive camshaft manufacturing companies across the world is set to influence the market significantly during the forecast period.
The automotive camshaft market can be classified by manufacturing technology, by application and by geography. The manufacturing technology segment can be classified into cast camshaft, forged steel camshaft and assembled camshaft. By application, the market can be segregated as passenger vehicles, light commercial vehicles and heavy commercial vehicles. By geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
In the automotive camshaft market, Asia Pacific holds the largest market share in terms of revenue followed by Europe, North America, Latin America and, Middle East and Africa (MEA). In the Asia Pacific region, countries such as China and India has been witnessing heavy demand and production for passenger vehicles. This in turn is increasing the demand of camshafts in passenger vehicles of above mentioned countries.
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In Europe, Germany is the most significant market and the largest contributor to the automotive camshaft market in the region because of the presence of major automobile manufactures in Germany. In North America, the U.S. is the largest market for automotive camshaft. The U.S. is the second largest manufacturer of automobiles in the world. The growth rate of automotive camshaft market in Latin America, and Middle East and Africa is low considering the less usage and production of vehicles in the aforementioned regions. However, with the growth in the automotive sector and investments in automobile companies of Latin America and Middle East and Africa, the market for automotive camshaft is expected to improve in the coming years.
The report also provides company market share analysis of the various industry participants. Acquisition is the main strategy being widely followed by leading market players. In case of an acquisition, the acquirer takes advantage of existing synergies. As a result, both companies are expected to emerge more profitable and stronger than before. Key players in the global automotive camshaft market have been profiled and their company overview, financial overview, business strategies and recent developments have been covered in the report. Major market participants profiled in this report include: MAHLE GmbH, Kautex Textron GmbH & Co. KG, ThyssenKrupp, Estas Camshaft, J-Cam Engineering Corporation, Melling Engine Parts, LACO camshafts, JBM Industries, Nilax Overseas, Camshaft Machine Company, Newman Cams, Meritor, Inc., Piper RS Ltd., and Schrick Camshaft among others.