Automotive Camshaft Market Growth Boost by Increasing Production of Automobiles And Advanced Manufacturing Technology
New York, US, May 23, 2023 (GLOBE NEWSWIRE) — According to a Comprehensive Research Report by Market Research Future (MRFR), “Automotive Camshafts Market Research Report Information by Type, Region, Engine Types, Fuel Types, and Sales Channel – Forecast Till 2032”, the global Automotive Camshafts market is predicted to bolter substantially during the review era from 2023 to 2032 at a substantial growth rate of around 5.28%. The reports further predict the market will acquire nearly USD 5.22 billion by the end of 2032.
Automotive Camshaft Market Overview:
Automotive camshaft refers to a part of an automotive engine, a metal tube developed to transfer the reciprocating motion of a valve lifter to the valve.
The listing of the prominent leaders across the global automotive camshaft market includes players such as:
- RBC Engine Parts
- Schaeffler Group
- The precision of New Hampton
- Webb Automotive
- Among others.
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Automotive Camshaft Market USP Covered
The global Automotive Camshaft Market has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the introduction of new products. Furthermore, factors such as the growing requirements of automobile manufacturers, increasing demand for internal combustion engines (ICEs), and increased investments being made in the R&D sector for advancements in the automobile industry are also likely to enhance the performance of the market over the coming years.
On the contrary, some parameters may restrict the market’s development. The main parameter limiting the market’s development is the high costs associated.
Automotive Camshaft Market COVID-19 Impact
The COVID-19 pandemic has had a massive impact on several industry areas worldwide. The Automotive Camshafts market is no different than others. The market experienced a tremendous setback during the pandemic, given the halt of several industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is anticipated to grow considerably over the coming years.
|Market Size 2032||2032: USD 5.22 Billion|
|CAGR during 2023-2032||5.28% CAGR|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, By Application, and Region|
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Automotive Camshaft Market Segment Analysis
Among all the types, the roller camshafts segment is predicted to ensure the leading position across the global market for automotive camshafts over the review timeframe. Their higher torque output and lower operating temperature are the main parameters causing a surge in the segment’s performance. Furthermore, the escalating demand for roller camshafts in high-performance vehicles, given o their possible lower fuel emission, supports the market’s growth.
Among all the engine types, the inline engine segment is anticipated to secure the top spot across the global market for automotive camshafts over the review timeframe. On the other hand, the V-engine segment is predicted to showcase the maximum growth rate over the assessment period. They are usually utilized in sports, luxury, and premium cars. The escalating demand for premium and luxury cars across emerging economies, such as India and China, is predicted to boost the segment’s growth over the coming years.
Among all the fuel types, the gasoline segment is projected to ensure the leading position across the global automotive camshaft market over the coming years, owing to their efficiency and emission of fewer gases than their diesel counterparts.
Among all the manufacturing technologies, the cast camshaft segment is anticipated to secure the top spot across the global automotive camshaft market over the review timeframe. The main parameter supporting the segment’s growth is the advantages offered, such as dimensional accuracy and smooth surface finish.
Among all the vehicle types, the passenger car segment is anticipated to secure the top spot across the global market for automotive camshafts over the review timeframe.
Among all the sales channels, the OEM segment secured the main spot across the global market for automotive camshafts over the coming years.
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Automotive Camshaft Market Regional Analysis
The research reports by MRFR suggest that the North American region held the top position across the global Automotive Camshaft Market in 2020 with the largest revenue share. The main parameter supporting the development of the regional market is the large presence of the automotive industry. Furthermore, the presence of key market players across the region is also considered one of the crucial parameters backing the expansion of the regional market. Moreover, the presence of advanced manufacturing technology for the production of camshafts is also likely to enhance the performance of the regional market over the review timeframe.
The Asia-Pacific regional market for automotive camshafts secured the second top position across the globe in the year 2020. The regional market is predicted to grow rapidly over the coming years by showcasing the fastest growth rate. The escalating production of automobiles across the region is believed to be the main aspect causing a rise in the regional market performance.
The European regional market for automotive camshafts is predicted to grow substantially over the assessment era. The rapidly growing automotive sector across the region is the prime aspect causing a rise in the regional market’s performance.
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