Automotive Crankshaft Market: Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Crankshaft, Material Type, and Vehicle

The Automotive Crankshaft Market size was valued at USD 3.89 billion in 2023 and the total Automotive Crankshaft Market revenue is expected to grow at a CAGR of 3.46 % from 2024 to 2030, reaching nearly USD 4.94 billion.

An automotive crankshaft is a vital component in an internal combustion engine that converts the reciprocating motion of the pistons into rotational motion, thereby providing power to the vehicle's drivetrain. It consists of several crankshafts connected by crankpins, which rotate within the engine block, transmitting power to the transmission and ultimately to the wheels. The automotive crankshaft market is witnessing steady growth globally, driven by various factors contributing to the automotive industry's expansion and technological advancements.

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The rise in demand for lightweight and high-strength crankshafts to improve fuel efficiency and reduce emissions is a significant trend shaping the market. Additionally, the increasing adoption of electric vehicles (EVs) presents new opportunities for crankshaft manufacturers, as electric powertrains require specialized crankshaft designs to accommodate unique motor configurations and optimize energy transfer. Furthermore, the growing emphasis on engine downsizing and turbocharging to meet fuel economy regulations is driving demand for advanced crankshaft technologies capable of withstanding higher engine loads and temperatures.

The automotive crankshaft market offers numerous opportunities for industry players to capitalize on. Investments in research and development (R&D) to innovate new materials, manufacturing processes, and crankshaft designs are key to maintaining competitiveness and meeting evolving market demands. Additionally, strategic partnerships and collaborations between automotive OEMs, suppliers, and technology providers can facilitate knowledge exchange and accelerate product development cycles. Moreover, the growing aftermarket for crankshaft repair and replacement services presents a lucrative avenue for aftermarket suppliers and service providers to expand their presence and cater to the maintenance needs of aging vehicle fleets.

Recent developments in the automotive crankshaft market by key players demonstrate ongoing efforts to address market challenges and capitalize on emerging opportunities. For example, advancements in forging techniques, such as precision forging and warm forging, are enabling crankshaft manufacturers to produce complex and lightweight designs with enhanced mechanical properties.
Market Dynamics:
Increasing Demand for Passenger and Commercial Vehicles:

The growing demand for passenger and commercial vehicles worldwide is a significant driver of the automotive crankshaft market. As more vehicles are manufactured and sold, there is a proportional demand for crankshafts to power their engines. For example, the growth of the middle-class population in emerging economies like India and China has led to a surge in automotive sales, driving the demand for crankshafts. Technological advancements in engine design, such as the development of high-performance and fuel-efficient engines, drive the demand for advanced crankshaft materials and designs. For instance, lightweight and durable materials like forged steel and billet crankshafts are increasingly used in modern engines to enhance performance and fuel efficiency. The automotive industry's focus on achieving higher fuel efficiency and reducing emissions is propelling innovations in engine components, including crankshafts. Lightweight crankshafts with improved balance and reduced friction contribute to better fuel economy and lower emissions, aligning with stringent regulatory standards such as Euro 6 and CAFE standards in the United States.

The growth of the automotive aftermarket, driven by increasing vehicle ownership and aging vehicle fleets, boosts the demand for replacement crankshafts. Aftermarket suppliers like Continental offer OE-quality replacement crankshafts, providing customers with reliable options for engine repairs and maintenance. The growing popularity of motorsports and performance tuning enthusiasts drives demand for high-performance crankshafts capable of withstanding extreme operating conditions. Companies like Tomei Engineering cater to this market segment by offering specialized forged billet crankshafts designed for racing and performance applications.
Table. Advanced Engine Technology Systems In Commercial Vehicles:




Technology System
Description
Benefits


Common rail injection
Higher injection pressure
Maximum around 2700 to 3000 bar
Smaller and faster fuel droplets, improved air entrainment and mixing
Reduces soot emission
Offset the drawbacks of a high EGR rate
1.1% FC reduction


Higher compression ratio
Optimization of combustion chamber design impacting the combustion process
Theoretical benefits in BTE; different values are reported from 2% to 15% in HD engines


Peak cylinder pressure (PCP)
There is a trend towards higher PCPs
Volvo in SuperTruck II has claimed 250 bar PCP, and other teams also utilized high PCPs (not quantified)
Contributes to the higher efficiency and BMEP


Advanced turbocharging and downsizing
Variable geometry turbine (VGT)
Multi-stage turbocharging
Twin scroll housing
Double scroll housing
2.9% FE benefit
Improvement in transient and part load conditions


Variable Valve Actuation (VVA)
Variable cam phasing, valve lift, and cylinder deactivation
Valvetrain adjusts as a function of engine load and speed
Limited benefits in diesel engines
Enables late inlet valve closure (Miller cycle)
Provides thermal management system of engine aftertreament system (EATS) by changing exhaust gas temperature
FC benefits in the part load of gasoline engines


Turbocompounding
Using a turbine to recover the exhaust energy
Connected directly to the crankshaft or powers a generator
1.8% to 4% FE improvement


WHR
Conversion of dissipated engine heat to mechanical or electrical energy
Closed Rankine cycle
Thermo-electric generators
BTE improvement
3% to 4% FE improvement


Engine friction reduction
Piston skirt and piston ring friction reduction
Advanced materials/lubricants
1.5% FE improvement


On-demand coolant and oil pump
Decoupling the pumps from the engine when they are not needed
Electronically controlled viscous coupling or on/off friction clutch
0.8% FE improvement



Increasing adoption of electric vehicles (EVs):

While the shift toward electric vehicles reduces the demand for traditional crankshafts in EV powertrains, it also presents opportunities in hybrid vehicles where internal combustion engines coexist with electric motors. Crankshafts in hybrid vehicles require design modifications to accommodate integrated electric motor components, opening new avenues for crankshaft manufacturers. Beyond automotive applications, crankshafts find use in various industrial machinery and equipment, including generators, pumps, and compressors. The growth of industries like construction, mining, and energy drives demand for heavy-duty crankshafts capable of powering large-scale machinery. With engine components being critical for vehicle performance and safety, there is a growing emphasis on the quality and reliability of crankshafts. Manufacturers that adhere to strict quality standards and offer warranties and certifications gain a competitive edge in the Automotive Crankshaft Market, earning the trust of automotive OEMs and aftermarket customers.

The globalization of automotive supply chains has led to increased collaboration between OEMs and crankshaft suppliers across different regions. This trend fosters innovation, knowledge sharing, and cost-effective manufacturing practices, driving market growth through efficient supply chain management. Government initiatives promoting automotive manufacturing, such as subsidies, tax incentives, and investment in infrastructure, stimulate market growth by encouraging OEMs to expand production capacity and invest in advanced technologies. For example, initiatives aimed at promoting electric vehicle adoption indirectly benefit the Automotive Crankshaft Market, including crankshaft manufacturers supplying hybrid vehicles.



High Manufacturing Costs and Material Limitations:

The automotive crankshaft market faces restraints due to high manufacturing costs associated with advanced materials and precision machining processes. For instance, the production of forged billet crankshafts requires costly raw materials and specialized equipment, limiting their widespread adoption and affordability for mass-market vehicles. Crankshafts undergo complex design and engineering processes to meet performance and durability requirements. These challenges increase development time and costs, especially for innovative crankshaft designs catering to specific vehicle applications, such as high-performance sports cars or heavy-duty trucks. Compliance with stringent regulatory standards, particularly regarding emissions and fuel efficiency, poses constraints on crankshaft manufacturers. Meeting these standards necessitates investments in research and development for advanced materials and manufacturing techniques, adding to production costs and time-to-market pressures.

The automotive industry's reliance on skilled labor for precision machining and assembly tasks presents a restraint in the crankshaft market. Shortages of skilled workers, exacerbated by demographic shifts and technological advancements, lead to production delays, quality issues, and increased labor costs, impacting overall manufacturing efficiency. Fluctuations in raw material prices, such as steel and aluminum, pose challenges for crankshaft manufacturers. Sudden price increases disrupt production planning and profitability, as material costs account for a significant portion of overall manufacturing expenses. This volatility necessitates effective supply chain management and risk mitigation strategies to maintain competitiveness in the Automotive Crankshaft Market.
Automotive Crankshaft Market Segment Analysis:
Based on Crankshaft, Cross-plane crankshafts dominate the Automotive Crankshaft Market due to their widespread adoption in most internal combustion engines. Cross-plane crankshafts offer smoother engine operation and better NVH (Noise, Vibration, and Harshness) control compared to flat-plane designs, making them the preferred choice for mainstream vehicles. Flat-plane crankshafts are gaining traction, particularly in high-performance and sports car applications, where their lightweight construction and superior high-end power delivery are valued.

With advancements in materials and manufacturing techniques, flat-plane crankshafts are expected to witness increased adoption, especially in niche automotive segments seeking enhanced performance characteristics. The adoption of crankshaft types depends on various factors, including engine configuration, vehicle type, and performance requirements. While cross-plane crankshafts remain dominant in conventional engines powering everyday vehicles, flat-plane designs are increasingly favored in performance-oriented applications where engine responsiveness and high RPM capabilities are paramount. As automotive technology evolves and consumer preferences shift towards more efficient and powerful engines, the demand for flat-plane crankshafts is projected to grow, challenging the dominance of traditional cross-plane designs in certain Automotive Crankshaft Market segments.
Automotive Crankshaft Market Regional Insights:
Europe stands out as the dominant region in the automotive crankshaft market, driven by advancements in automobile engines and a strong automotive manufacturing base. Europe's established automotive industry, coupled with stringent emissions regulations, fosters continuous innovation in engine technology, creating a robust demand for crankshafts. Europe's focus on electric vehicle (EV) development and consumer purchasing power is expected to further stimulate market growth, as demand for automotive crankshafts may rise alongside EV sales.

The Asia-Pacific region has emerged as a key growth market for automotive crankshafts. With the rapid growth of the automotive industry, particularly in countries like China and India, Asia-Pacific is expected to witness substantial growth in the demand for crankshafts. Factors such as increasing vehicle production, rising disposable incomes, and urbanization contribute to the region's Automotive Crankshaft Market growth. Moreover, the shift towards electric and hybrid vehicles in the Asia-Pacific region presents new opportunities for crankshaft manufacturers to cater to evolving engine requirements. For instance, China's ambitious electric vehicle goals and government support for EV adoption drive investments in electric powertrain components, including crankshafts.

Competitive Landscape

The introduction of Continental's new Knock, Cam, and Crankshaft Sensors expands the aftermarket options for vehicle maintenance, addressing the increasing demand for high-quality, precise engine components. This broader range of OE replacement parts ensures improved vehicle performance and reliability, attracting more consumers to opt for these trusted products. Tomei's innovative forged billet crankshaft for the Nissan VR38DETT engine offers enthusiasts enhanced durability and performance, driving demand within the automotive aftermarket segment. As consumers seek reliable solutions to optimize their vehicle's performance, the availability of such advanced components from reputable brands like Continental and Tomei is poised to stimulate market growth by catering to evolving customer needs.

November 1, 2022, Continental introduces new Knock, Cam, and Crankshaft Sensors to its OE-engineered Engine Management Sensor line, offering genuine OE replacement parts for various vehicle models. With exceptional application coverage, these sensors ensure exact fit and function, meeting growing customer demand for high-quality, reliable components. Brendan Bachant highlights their importance in restoring vehicle performance to OE specifications.

On May 10, 2023, Tomei unveiled its forged billet crankshaft tailored for the Nissan VR38DETT engine, boasting a 94.4mm stroke, 56mm crank pin, and 65mm main journal. Crafted from EN40B material with five counterweights, it offers durability and precision. Additionally, Tomei provides a nitriding surface treatment for enhanced performance. Weighing 20.9 kg, this crankshaft caters to enthusiasts seeking improved engine dynamics and reliability for their Nissan vehicles.
Automotive Crankshafts Market Scope: Inquire before buying



Automotive Crankshafts Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 3.89 Bn.


Forecast Period 2024 to 2030 CAGR:
3.46%
Market Size in 2030:
US $ 4.94 Bn.


 Segments Covered:
by Crankshaft
Flat Plane
Cross Plane


by Material Type
Cast Iron
Forged Steel
Others


by Vehicle
Commercial Vehicles
Passenger Vehicles



Automotive Crankshafts Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Automotive Crankshaft Market Key Players:
Key Players in North America:
1. NSI Crankshaft (Headquarters: Illinois, USA)
2. Crower Cams & Equipment (Headquarters: California, USA)
3. Bryant Racing Inc (Headquarters: California, USA)
Key Players in Europe:
4. Arrow Precision (Headquarters: Northamptonshire, United Kingdom)
5. Maschinenfabrik ALFING Kessler GmbH (Headquarters: Germany)
6. ThyssenKrupp Crankshaft Company LLC (Headquarters: Stuttgart, Germany)
7. Rheinmetall (Headquarters: Düsseldorf, Germany)
8. Sandvik(Headquarters: Stockholm, Sweden)
9. Cigueñales Sanz SL (Headquarters: Spain)

Key Players in Asia Pacific:
10. TIANRUN CRANKSHAFT (Headquarters: Zhejiang, China)
11. Bhatar Forge Ltd (Headquarters: Gujarat, India)
12. Amtek Auto Ltd (Headquarters: New Delhi, India)
13. Nippon Steel Integrated Crankshaft LLC (Headquarters: Tokyo, Japan)

FAQs:
1. What are the growth drivers for the Automotive Crankshaft Market?
Ans. Increasing Demand for Passenger and Commercial Vehicles and is expected to be the major driver for the Automotive Crankshaft Market.

2. What is the major Opportunity for the Automotive Crankshaft Market growth?
Ans. Increasing adoption of electric vehicles (EVs) is expected to be the major Opportunity in the Automotive Crankshaft Market.

3. Which country is expected to lead the global Automotive Crankshaft Market during the forecast period?
Ans. Europe is expected to lead the Automotive Crankshaft Market during the forecast period.

4. What is the projected market size and growth rate of the Automotive Crankshaft Market?
Ans. The Automotive Crankshaft Market size was valued at USD 3.89 billion in 2023 and the total Automotive Crankshaft Market revenue is expected to grow at a CAGR of 3.46 % from 2024 to 2030, reaching nearly USD 4.94 billion.

5. What segments are covered in the Automotive Crankshaft Market report?
Ans. The segments covered in the Automotive Crankshaft Market report are by Crankshaft, Material Type, Vehicle, and Region.