Automotive Camshaft Market Growth Outlook for 2024 to 2034

The automotive camshaft market value is estimated to expand at a CAGR of 3.7% over the assessment period. In 2024, the market is expected to generate a revenue worth USD 10,662.70 million. By 2034 end, the market size is forecasted to reach USD 11,056.49 million.

Attributes Key Insights
Estimated Automotive Camshaft Market Size (2024E) USD 10,662.70 million
Projected Market Valuation (2034F) USD 11,056.49 million
Value-based CAGR (2024 to 2034) 3.7%

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Trends and Sales Analysis of Automotive Camshaft Market

Increasing sales of vehicles is positively impacting the demand for automotive camshafts. Additionally, there is a growing market for the replacement of older and outdated engines, which is contributing to the rising adoption of automotive camshafts.

Growing popularity of double overhead camshafts (DOHC) is projected to be profitable for automotive camshaft manufacturers. This is because automakers are increasingly utilizing DOHC as it increases engine performance and boosts fuel efficiency.

Another notable trend that is lucrative for automotive camshaft manufacturers is engine downsizing. Manufacturers are further capitalizing on the growing aftermarket for vehicle camshafts.

Manufacturers are optimizing camshaft designs to increase engine control for cleaner emissions. This is in line with the implementation of stricter emission regulations imposed by governments. Additionally, key players are investing in research and development activities to propel advancement in automotive camshafts for greater performance and results.

Category-wise Automotive Camshaft Industry Analysis

Cast Camshaft to Remain a Prominently Purchased Automotive Camshaft in the Market

Leading Product Type Cast Camshaft
Value Share (2024) 78.90%

Based on product type, the cast camshaft segment is projected to acquire a leading share of the global automotive camshaft market. As per the latest market estimates by FMI analysts, the cast camshaft segment is expected to acquire a 78.90% value share in 2024.

Increasing purchases of passenger, as well as commercial vehicles, have been directly impacting the demand for automotive camshafts. Additionally, rising infrastructural investments in emerging countries have been raising the sales of heavy trucks and trailers. This has created significant prospects for cast camshaft producers.

Cast camshafts provide a cost-effective solution for the casting process, which allows for their use in mass production and makes them appropriate for different vehicle applications. Moreover, manufacturers are consistently enhancing the properties of cast camshafts through lightweight designs and material advancements to promote fuel efficiency.

Increasing government norms for strict emission standards for vehicles is raising the use of cast camshafts as they help reduce emissions and optimize engine performance.

Passenger Cars to Account for Sizeable Market Share

Leading Vehicle Type Passenger Cars
Value Share (2024) 61.20%

Passenger cars are the highly preferred vehicle types. This segment is anticipated to account for 61.20% in 2024. Increasing purchasing power of the population in developing countries is raising the sales of passenger cars. Car ownership is also rising as banks and financial institutions are providing different financing options and loans.

Growing demand for personal transportation is promoting the demand for passenger cars as they offer more convenience and flexibility as opposed to public transport. This is especially relevant in areas where public infrastructure is poorly maintained.

Manufacturers are providing a vast range of passenger cars to serve the different needs and budgets of customers. Various options of passenger cars to meet the requirement of buyers are enhancing buyer’s experience.

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Automotive Camshaft Market Analysis by Country

Countries CAGR (2024 to 2034)
Canada 3.20%
Germany 3.30%
France 4.40%
China 4.40%
India 5.10%

Canada Automotive Camshaft Market Landscape Shaped by Increasing Sales of Automotives

Sales frequency of automotive camshafts is increasing at a relatively higher pace in Canada, than in the United States. This market dynamic in North America can be ascribed to the increasing population in Canada and the consequent growing demand for automobiles. According to recent estimates, Canada is expected to record a 3.2% CAGR over the next ten years.

Demand for passenger and commercial vehicles is raising the demand for more engines. Thus, pushing the sales of automotive camshafts. Several developments in the automotive landscape in Canada are painting an optimistic picture of the automotive camshaft industry.

In December 2022, for instance, Delphi Technologies officially disclosed that it will be adding 21 parts to its specialty Sparta fuel pump line and 142 parts to its main line. In the 142 new parts line, engine camshaft position sensors are also included.

In October 2022, production of CR-V hybrid began in Canada, soon followed by Ohio and Indiana plants as it is going to represent around 50% of CR-V sales.

Manufacturers in Germany Develop Next-generation Camshafts to Reduce Carbon Emissions

Germany is an influential contender in the Europe automotive industry, showcasing leading car manufacturers like Mercedes-Benz and Volkswagen. As the car market in Germany experiences a surge, so is the demand for components like automotive camshafts. Through 2034, demand for automotive camshafts in Germany is projected to register a 3.3% CAGR.

Manufacturers in the camshaft industry are advancing their materials and designs to develop lighter and optimally functioning camshafts. The use of such next-generation camshafts enhances fuel economy and reduces emissions.

Market Contenders in France Dedicated to Develop Lighter Camshaft Module

France is yet another important player in the Europe automotive camshaft market. As per the latest market statistics, the market is set to expand at a steady CAGR of 4.40% from 2024 to 2034. Rising sales of passenger cars in France are acting as a market driver.

Constant advancements by the key players in France are contributing to increasing market size. For instance, in May 2020, a prototype component was developed in collaboration between Belgian plastics manufacturer SBHPP/Vyncolit, French plastics company The Georges Pernoud Group, automotive parts manufacturer the MAHLE Group, the Daimler automotive company, and Germany's Fraunhofer Institute for Chemical Technology.

The finished camshaft module is lighter than the aluminum product and its usage in automotives reduces gas consumption.

India to Observe Some Action in Automotive Camshaft Market

In Asia Pacific, India is an important market for the business of automotive camshafts. With an estimated growth rate of 5.10% CAGR, which is relatively higher than the other markets, key players and investors are viewing India as their new investment pocket.

Several advancements in automotive camshafts are expected to increase their demand in the market. For instance, in June 2023, Precision Camshafts, a Solapur-based company developed a retrofitting technology for the LCV segment and announced that the first product rollout will be in the next three months.

The company had invested funds and time to create solutions and technology ready for India. The potential market for retrofitting in India alone is about 2 million vehicles. For the company, even if a small portion of these vehicles convert to electric, it is going to translate to significant volumes.

Strict Emission Standards to Propel the Use of Automotive Camshafts in China

Sales of automotive camshafts are increasing at a CAGR of 4.40% in China. The country contributes significantly to the regional market in terms of vehicle production.

This suggests a growing demand for car parts like camshafts. Additionally, in China, a shift towards double overhead camshafts (DOHC), which are known for their power and efficiency, has been observed. These engines need more camshafts owing to a high number of valves.

Stringent emission standards in China are pushing manufacturers to develop fuel-efficient, lightweight engines, achieved via DOHC technology. This, in turn, is raising the demand for camshafts.

Competitive Landscape

Key players are employing different strategies to gain a competitive advantage over their peers. Industry participants are consistently researching and developing new casting techniques and alloys to develop stronger, lighter, and more wear-resistant automotive camshafts. This is aimed at enhancing fuel efficiency, promoting longer engine life, and lowering emissions.

Manufacturers are developing and integrating variable valve timing (VVT) systems in camshafts to allow for optimized engine performance during different operating conditions. This effectively serves the growing demand for powerful and fuel-efficient vehicles.

Market players are building strong relationships with automakers to allow suppliers to secure long-term contracts. Additionally, players are acquiring small players or merging with competitors to increase their profits.

Key Developments Shaping the Automotive Camshaft Market

  • In July 2023, Precision Camshaft, an influential camshaft manufacturer, announced that it is strategically concentrating on the EV segment as it provides high-margin opportunities. The firm announced its plans to set up an EV plant in Solapur and has been developing an electric powertrain, which is designed for sub-4 tons Light Commercial Vehicles.
  • In September 2022, BorgWarner extended its facility near Chennai to ramp up production and warehousing capacities. In this unit, the assembly of BorgWarner’s variable camshaft timing (VCT) systems and high-performance engine control will be centralized.

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Key Coverage in the Global Automotive Camshaft Market Research Report

  • Adjacent Study of Non-automotive Camshaft Market, Vehicle Camshaft Market, Automotive Camshaft Locking Plate Market, and Car Camshaft Market
  • Region-wise Analysis of the Automotive Camshaft Market, with an Emphasis on Asia Pacific
  • Growth Analysis of Automotive Camshaft Market by Material, Type, and Engine

Top Companies in the Automotive Camshaft Market

  • Mahle GmbH
  • JD Norman Industries, Inc.
  • Thyssenkrupp AG
  • Linamar Corporation
  • ESTAS CAMSHAFT & CHILLED CAST
  • Crance Cams Inc.
  • Aichi Forge USA Inc.
  • Engine Power Components Inc.
  • Hirschvogel Holding GmbH
  • KAUTEX TEXTRON GmbH & Co. KG
  • Shadbolt Cams
  • Comp Performance Group
  • Precision Camshafts Ltd.
  • Varroc Group
  • Camshaft Machine Company
  • Others

Automotive Camshaft Market Research Report by Categories

By Type:

  • Cast Camshaft
  • Forged Camshaft
  • Assembled Camshaft

By Vehicle Type:

  • Passenger Car
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

By Sales Channel:

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

Frequently Asked Questions

What is the Valuation of the Automotive Camshaft Market in 2024?

In 2024, the automotive camshaft market is estimated to be valued at USD 10,662.70 million.

What is the Projected Adoption Rate of Automotive Camshafts from 2024 to 2034?

The adoption rate of automotive camshafts is expected to be 3.7% over the forecast period.

How Big will the Industry Be by 2034?

The market revenue is expected to reach USD 11,056.49 million by 2034.

Which Product Type Grabs a Massive Share of the Automotive Camshaft Market?

The cast camshaft segment grabs a massive share of the automotive camshaft industry.

Which Country is Expected to Expand Rapidly in the Market?

India is expected to register a higher growth rate in the automotive camshaft industry.

Which Players in the Automotive Camshaft Industry are Influential?

Mahle GmbH, JD Norman Industries, Inc., and Thyssenkrupp AG are influential players in the automotive camshaft industry.

Table of Content
  • 1. Executive Summary
  • 2. Market Overview
  • 3. Market Background
  • 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
  • 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type
    • 5.1. Cast Camshaft
    • 5.2. Forged Camshaft
    • 5.3. Assembled Camshaft
  • 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Vehicle Type
    • 6.1. Passenger Car
    • 6.2. Light Commercial Vehicle
    • 6.3. Heavy Commercial Vehicle
  • 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Sales Channel
    • 7.1. Original Equipment Manufacturer (OEM)
    • 7.2. Aftermarket
  • 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
    • 8.1. North America
    • 8.2. Latin America
    • 8.3. Western Europe
    • 8.4. Eastern Europe
    • 8.5. South Asia and Pacific
    • 8.6. East Asia
    • 8.7. Middle East and Africa
  • 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
  • 16. Key Countries Market Analysis
  • 17. Market Structure Analysis
  • 18. Competition Analysis
    • 18.1. Mahle GmbH
    • 18.2. JD Norman Industries, Inc.
    • 18.3. Thyssenkrupp AG
    • 18.4. Linamar Corporation
    • 18.5. ESTAS CAMSHAFT & CHILLED CAST
    • 18.6. Crance Cams Inc.
    • 18.7. Aichi Forge USA Inc.
    • 18.8. Engine Power Components Inc.
    • 18.9. Hirschvogel Holding GmbH
    • 18.10. KAUTEX TEXTRON GmbH & Co. KG
    • 18.11. Shadbolt Cams
    • 18.12. Comp Performance Group
    • 18.13. Precision Camshafts Ltd.
    • 18.14. Varroc Group
  • 19. Assumptions & Acronyms Used
  • 20. Research Methodology
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