Global Automotive Crankshaft Market 2017-2021
About Automotive Crankshaft
Crankshafts are used to convert the reciprocating motion of the pistons to the rotatory motion and provide power to the flywheel which further spins the wheels. Mainly there are three types of crankshafts according to manufacturing processes such as forged steel crankshafts, cast iron/steel crankshafts, and machined billet crankshafts which are used in different areas such as passenger vehicles, and commercial vehicles.
Technavio’s analysts forecast the global automotive crankshaft market to grow at a CAGR of 4.83% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive crankshaft market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Crankshaft Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive crankshaft market: Arrow Precision, Maschinenfabrik ALFING Kessler, Rheinmetall, NSI Crankshaft, Sandvik, TIANRUN CRANKSHAFT, and Thyssenkrupp.
Other Prominent Vendors in the market are: Bharat Forge, Crower Cams & Equipment, Farndon Engineering, Kellogg Crankshaft Company, Liaoning, Lunati, and Winberg Crankshafts.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is fillet hardening of crankshaft. The crankshaft is an essential component which drives the vehicle forward by converting the reciprocating motion of pistons to rotatory motion. It is exposed to various stresses and loads. Surface hardening is a process which reduces wear on bearing journals and extends a crankshaft's life.”
According to the report, one driver in the market is decline in steel prices. Typically, an automotive crankshaft is made from forging steel or cast iron. Steel is tougher than iron and retains its physical properties at high temperatures. Due to steel's enhanced performance in compression, tension, and shear, it is preferred over cast iron for manufacturing automotive crankshafts. This is due to its crystalline structure and lesser carbon content. While cast iron has around 4% of carbon by weight, steel only has 0.02%-1.7%. Changing the carbon content can change the properties, such as hardness, ductility, and strength.
Further, the report states that one challenge in the market is increase in demand/adoption of electric vehicles. The demand for electric vehicles (EVs) is increasing rapidly around the world. Governments are working to develop and offer various programs and initiatives for new energy vehicles. EVs are one of the most commercially available alternatives to conventional gasoline or diesel vehicles. OEMs are manufacturing high-end EV models to capture the high potential EV market. Tesla Motors launched the new Tesla Model 3 in July 2017 as an affordable car in two variants priced at $35,000 and $44,000 while BMW has its luxury EVs, i3, and i8.
Arrow Precision, Maschinenfabrik ALFING Kessler, Rheinmetall, NSI Crankshaft, Sandvik, TIANRUN CRANKSHAFT, and Thyssenkrupp, Bharat Forge, Crower Cams & Equipment, Farndon Engineering, Kellogg Crankshaft Company, Liaoning, Lunati, and Winberg Crankshafts.