Global Automotive Camshaft Market Report and Forecast 2024-2032

Global Automotive Camshaft Market Outlook

The global automotive camshaft market size attained a value of nearly 2.94 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 4.2% reaching about USD 4.26 billion by 2032.

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Key Trends in the Market

A mechanical device, a camshaft is a rotating shaft in an in an internal combustion engine that is employed to operate the closing and opening actions of the exhaust and inlet valves at the right time. In an internal combustion engine, it is imperative that fuel passes into the cylinder at the right time and that exhaust gases also leave the cylinder at the right time. With the help of a camshaft, this function is accomplished. Automotive camshafts are camshafts designed for use in automotives. 

• The rising sales of commercial vehicles and passenger cars along with the surging adoption of double overhead camshaft engines in passenger cars are likely to aid the growth of the automotive camshaft market over the coming timeframe.

• The growing adoption of software tools to boost the design of camshafts with the technological advancements in valve technologies developing the trend of engine downsizing is expected to enhance the demand for automotive camshafts in the coming years.

• Strict rules by various governments related to carbon emissions have compelled automotive OEMs to adopt lightweight and efficient engines. This is further expected to support the global automotive camshaft market growth over the upcoming years.

Market Analysis

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Based on vehicle type, the market can be segmented into passenger vehicles and commercial vehicles. On the basis of manufacturing technology, the market is categorised into cast camshaft, forged camshaft, and assembled camshaft. Based on fuel type, the market is divided into gasoline and diesel. On the basis of sales channel, the automotive camshaft market is bifurcated into OEM and aftermarket. The regional markets for automotive camshafts can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global automotive camshaft market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans. 

• Linamar Corporation

• MAHLE GmbH

• ThyssenKrupp AG

• Engine Power Components Inc.

• Hirschvogel Holding GmbH

• Others

Market Share by Vehicle Type

The passenger vehicle segment is expected to witness substantial growth in the automotive camshaft market across the globe on account of the surging production and sales of passenger cars. With a growing population and overcrowding in major cities, more people are living in nearby towns and using passenger vehicles for commute, increasing the demand for passenger vehicles. In areas with heavy traffic, camshafts play an important role in maintaining the engine health and preventing overheating. Meanwhile, the commercial vehicle segment is also expected to exhibit significant growth in the market of automotive camshafts over the forecast period on account of the growing demand for heavy-duty trucks in the logistics and transportation sector.

Market Share by Region

Geographically, the Asia Pacific region is projected to grow significantly in the automotive camshaft market on account of the growing production as well as sales of passenger cars in emerging economies like China and India. With increasing disposable incomes and availability of vehicles, more vehicles are being sold, and key manufacturers are also expanding their production plants in the region. 

Meanwhile, Europe is also likely to exhibit substantial growth in the market for automotive camshafts during the forecast period. This is due to the strict emission rules in this region driving the market for engine downsizing. The robust presence of the major camshaft manufacturing industries, especially in Germany like MAHLE GmbH and ThyssenKrupp AG, among others, are likely to aid the market growth of automotive camshafts in Europe. With the robust growth of the automotive industry, the demand for automotive camshafts is expected to increase in Europe.

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Competitive Landscape

Linamar Corporation was established in 1966 and is a supplier of engineered products. It distributes and manufactures precision metallic components, systems, and modules for the global automotive, industrial, and energy markets. The company provides driveline and transmission systems for passenger vehicles and core engine components incorporating cylinder blocks and heads, connecting rods, and camshafts. It delivers its products to different end-users like off-highway, commercial vehicle, automotive, agriculture, aerial work platform, industrial, energy and marine, and recreation. 

MAHLE GmbH is a leading international development partner and supplier to the automotive industry. The company is an innovator and technology driver for the mobility of the future, aiming to make transportation more environmentally friendly, comfortable, and efficient. The company is constantly working towards optimising the combustion engine, driving forward the usage of alternative fuels, as well as laying a foundation for the widespread acceptance and introduction of e-mobility across the globe.

ThyssenKrupp AG is a Germany-based company that was established in 1999. The company deals in materials services, industrial components, automotive technology, steel, marine systems, and multi-tracks. The company pursues ambitious climate protection targets and optimises its own energy and climate efficiency. It uses its diverse abilities along the relevant value chains to play a significant role in driving forward its customers’ green transformation. 

Other market players include Engine Power Components Inc., and Hirschvogel Holding GmbH, among others.

Key Highlights of the Report