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Automotive Overhead Camshaft Market Size, Analysis and Forecast Up To 2019 - 2027

Automotive Overhead Camshaft Market  

Automotive Overhead Camshaft Market: Introduction
  • An automotive overhead camshaft is a mechanical component of an internal combustion engine, which operates the cams that open and close the inlet and exhaust valves of the engine. The camshaft is driven by the crankshaft of the engine via a gear wheel, belt, or chain. Camshafts are made of steel and cast iron, as they require high hardness and need to withstand high load.
Key Drivers of Global Automotive Overhead Camshaft Market
  • Adverse environmental changes, such as climate change caused by air pollution worldwide, have led to enactment of stringent regulations for vehicle manufacturers and automobile component manufacturers alike. This, in turn, has prompted automakers to adopt technologies and vehicle components that reduce vehicle emissions and increase vehicle fuel efficiency. Automotive overhead camshafts, which ensure timely operation of inlet and exhaust valves in a cylinder of a vehicle engine and enhance efficiency of the vehicle, are readily being adopted by automakers in their vehicles. This, in turn, is boosting the demand for automotive overhead camshafts and subsequently, driving the global automotive overhead camshaft market.
  • Technological advancements in manufacturing technologies of automotive components are expected to boost the demand for lightweight automotive overhead camshafts. For instance, forged overhead camshafts can be subjected to high loading and can be adopted in high performance vehicles, as the profile for a forged camshaft is designed and manufactured using automated machinery that reduces the errors in camshaft manufacturing. On the other hand, cast camshafts may have some casting defects, such as porosity, shrinkage effects, and cracks, owing to their manufacturing process. Therefore, forged overhead camshafts are being increasingly used in vehicles, thereby driving the global automotive overhead camshaft market.
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Rise in adoption of electric vehicles to restrain global automotive overhead camshaft market
  • Rise in demand for electric vehicles across the globe is estimated to hamper the automotive overhead camshaft market. Penetration of electric cars has been rising rapidly for the last few years. The global sale of electric passenger cars surpassed 5 million in 2018, an increase of 63% from the previous year, 2017.
  • In 2018, around 45% of electric cars on the road were in sold China, a total of 2.3 million, as compared to 39% in 2017. Furthermore, Europe accounted for 24% of the total electric vehicles sold globally, while the U.S. held 22% share of total global electric vehicles in 2018.
  • Financial incentives, including government subsidies and tax exemptions, is a key factor prompting consumers to increasingly adopt electric vehicles, which in turn is anticipated to restrain the demand for engines and consequently, hamper the global automotive overhead camshaft market.
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Asia Pacific to dominate global automotive overhead camshaft market
  • Japan, China, and India have presence of major automakers and aftermarket players in the automotive industry. For instance, Toyota, Hyundai, Tata Motors, Suzuki, and Nissan, which account for a notable share of global vehicle production, have their production facilities in Asia Pacific. The aftermarket in China is well-known for offering low price alternate solutions for vehicle components. Moreover, in 2018, China accounted for more than 25% of the global vehicle production. Furthermore, the region witnesses strong competition among the automakers and aftermarket players. All these factors propel the overhead camshaft market in Asia Pacific.
Key Players Operating in Global Automotive Overhead Camshaft Market
The global automotive overhead camshaft market is highly concentrated owing to the presence of top manufacturers. A few key players operating in the global automotive overhead camshaft market are:
  • COMP Performance Group
  • Dongguan Jinquanshun Hardware Mould
  • Eurocams Inc.
  • Guilin Fuda Group
  • Hirschvogel Holding GmbH
  • JD Norman Industries, Inc.
  • Liaoning North Crankshaft
  • MAHLE GmbH
  • MAT Foundry Group
  • Meritor, Inc.
  • PCL INDIA
  • Piper RS Ltd
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