The latest market report published by Credence Research Inc. "Global Vehicle Camshaft Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028". Theglobal Vehicle Camshaft market generated revenue of around USD 2348.6 million in 2021 and is anticipated to grow a CAGR of over 4.1% during the forecast period from 2022 to 2028 to reach around USD 2988.9 million in 2028.
Increased passenger car and commercial vehicle sales and increased usage of double overhead camshaft engines in passenger cars are likely to fuel market expansion. Furthermore, tough government rules governing carbon emissions have compelled vehicle OEMs to use lightweight engines, expected to drive product demand shortly. Automotive engine manufacturers are increasing engine valves to improve volumetric efficiency and power output, which is possible with a double overhead camshaft. A double overhead camshaft has four valves, two exhausts, and two intakes for each cylinder. Using four valves per cylinder provides a more easy flow of gases and fuel into and out of the cylinder, boosting the vehicle's performance, especially at high speeds. As a result, the increasing usage of double overhead camshaft engines is expected to drive market expansion.
is bifurcated into product type, vehicle type, sales channel, and geography. Based on product type, the vehicle camshaft market is segmented into cast, forged, and assembled camshafts. Based on vehicle type, the vehicle camshaft market is categorized into light commercial vehicles, passenger cars, and heavy commercial vehicles. Based on sales channel, the vehicle camshaft market is segmented into original equipment manufacturer (OEM) and aftermarket. Based on geography, the vehicle camshaft market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2021, Asia-Pacific dominated the vehicle camshaft market with the highest revenue share. The growth is majorly due to increased production and sales of passenger automobiles in emerging nations such as India and China. Further, China led the market in Asia-Pacific due to the rise in the production of passenger and commercial vehicles in the region. On the other hand, North America is expected to grow significantly in coming years due to increasing demand for automobiles and rising population, especially in developing countries such as Canada and the U.S.
The automotive industry is constantly evolving, and this has had a significant impact on camshafts. In the past, camshafts were designed to provide smooth operation in specific engine types, but over time the technology has improved so that more engines are available with features such as variable valve timing (VVT). This means that camshafts can now be adapted to suit a wider range of vehicles, which has helped to drive growth in the key area.
One of the major factors driving growth in vehicle/automotive camshafts is the increasing demand for VVT-equipped engines. This type of engine offers a number of benefits, including increased fuel efficiency and reduced emissions. As a result, manufacturers are searching for alternatives to traditional camshafts in order to meet this growing demand. Some of these alternatives include hydraulic systems and electronic control units (ECUs), both of which have seen strong growth in recent years.
Why Buy This Report-
· The report provides a qualitative and quantitative analysis of the global vehicle camshaft market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
· The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level
· In-depth analysis of the global vehicle camshaft market segmentation based on product type, vehicle type, and sales channel.
· Major countries in each region with their import/export statistics
· The global vehicle camshaft market report also includes analyzing the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.
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