Recently, Index Markets Research released a report on the automotive Camshaft market, titled “Global Automotive Camshaft Market Size, Status and Forecast 2021-2028”.
The report focuses on the growth of the camshaft industry during the said period.
Now, before getting into more details, let’s understand what a camshaft is? A camshaft is one of the essential components used in internal combustion engines, mechanically controlled ignition systems and early electric motor speed controllers.
And so, after hearing this, the most obvious question that comes to our mind is why is it important to study a part that is so tiny?
Well, the figures that I am going to state are going to answer your question. The Automotive Camshaft industry has reached a value of US$ 3.07 Billion in 2020.
And this figure is expected to increase by nine folds in just seven years. This means that the camshaft industry is expected to surpass the bar of US$ 27 billion by the year 2027, making it an industry with immense potential and opportunities.
As a result, the report included a detailed analysis of the qualitative impact of significant market components on market segments and geographies.
According to the study, the market is segmented by product type, application, technology, and geography.
To provide additional clarity about the industry, the research examines the current state of several elements across countries, including but not limited to supply chain management, niche markets, distribution channel, trade, supply and demand, and manufacturing capability.
Finally, the research presents several critical recommendations for a new Automotive Camshaft market project before assessing its viability.
The report begins with an overview of the Industry Chain structure, a description of the industry environment, and an analysis of market size and forecast for Automotive Camshaft by product, region, and application.
In addition, this report discusses market competition among dealers and company profiles and market price analysis and value chain features.
As a result, the Automotive Camshaft Market Research Report is a Skillful and Deep Analysis of the Current Situation and Challenges. Experts analysed historical data and compared it to current market conditions.
The Research Report contains all the information that new market entrants and existing businesses need to understand the market better. Melling Engine Parts, LACO camshafts, JBM Industries, MAHLE GmbH, Newman Cams, Meritor, Piper RS Ltd, Kautex Textron, ThyssenKrupp, Estas Camshaft, J- Cam Engineering Corporation, Nilax Overseas, Camshaft Machine Company, Schrick Camshaft are among the major players in 2021, and so the market is pretty competitive.
The report allows us to identify their strategies and collaboration, thus giving us a better idea of the market.
The report mainly focuses on the Asia-Pacific, North America, Europe, South America, Middle East & African region. The camshaft is one of the essential tools used for combustion engines and fuel usage.
And so, with the increasing need for vehicles and the desire of the companies to manufacture light motor vehicles and more green energy-efficient products, the players of this industry are constantly trying to innovate, thus making this industry a pretty important part of the automobile industry.
The automotive camshaft market is predicted to rise during the assessment period due to innovations and related technologies.
Let’s look at the case of Hyundai to understand the scenario better. Hyundai said in July 2019 that it had developed a continuous variable valve duration (CVVD) engine technology.
According to the business, the new technology is also projected to improve engine performance by 4% and efficiency by 5%.
Based on production technology, forged automotive camshafts are predicted to have the largest market share, followed by cast and assembled camshafts, indicating that this industry is at a vital juncture with tremendous opportunities for growth and progress.
