Automotive Crankshaft Market Analysis Report 2025: Market to Grow by a CAGR of 4 to 2033, Driven by Government Incentives, Popularity of Virtual Assistants, and Strategic Partnerships

Key Insights

The Automotive Crankshaft Market size was valued at USD 7.9 USD Billion in 2023 and is projected to reach USD 10.40 USD Billion by 2032, exhibiting a CAGR of 4 % during the forecast period. An automotive crankshaft is a critical engine component that converts the linear motion of the pistons into rotational motion, driving the vehicle's wheels. It is typically made from forged steel or cast iron for strength and durability. There are various types, including the single-piece crankshaft, which offers robustness and reliability, and the multi-piece crankshaft, which allows for easier repair and maintenance. Key features of crankshafts include counterweights to balance engine vibrations and journals that support the crankshaft's rotation. Crankshafts find applications in various engines, from standard internal combustion engines to high-performance racing engines, ensuring smooth and efficient engine operation by effectively translating piston power into rotational force.

Automotive Crankshaft Trends

• Adoption of Electric Vehicles: The shift towards electric vehicles is reducing the demand for crankshafts in internal combustion engine vehicles.
• Advancements in Manufacturing Processes: Innovations in casting and machining technologies are leading to improved crankshaft durability and efficiency.
• Focus on Sustainability: Manufacturers are increasingly focusing on using eco-friendly materials and optimizing production processes to reduce environmental impact.

Driving Forces: What's Propelling the Automotive Crankshaft Market

• Surging Global Automotive Production: The escalating global demand for vehicles, fueled by economic growth in developing nations and a rising middle class, is a primary driver for increased crankshaft production.
• Demand for Enhanced Engine Performance and Efficiency: The automotive industry's continuous pursuit of improved fuel economy, reduced emissions, and enhanced engine power is stimulating innovation in crankshaft design and materials, leading to higher demand.
• Technological Advancements: The incorporation of advanced materials like lightweight alloys (aluminum, magnesium) and high-strength steels, along with sophisticated manufacturing processes (e.g., forging, casting, machining), is resulting in stronger, lighter, and more durable crankshafts, improving vehicle performance and efficiency.
• Lightweight Vehicle Trend: The growing emphasis on fuel efficiency and reduced carbon emissions is driving the adoption of lightweight vehicle designs. Crankshafts made from advanced materials play a crucial role in achieving these goals.
• Electrification, but Continued Relevance: While the rise of electric vehicles presents a long-term challenge, the continued prevalence of internal combustion engines (ICE) in hybrid vehicles and various other applications ensures a sustained, albeit potentially evolving, demand for crankshafts in the foreseeable future.

Challenges and Restraints in Automotive Crankshaft Market

• Volatility in raw material prices: The automotive crankshaft market faces challenges due to the unpredictable nature of raw material prices. As crankshafts are primarily made from steel, aluminum, or forged components, fluctuations in the cost of these materials can significantly impact production costs and profit margins for manufacturers.
• Intense competition from aftermarket suppliers: The market experiences intense competition from aftermarket suppliers who offer lower-priced crankshaft replacements. These suppliers cater to vehicle owners seeking cost-effective repair options, creating a challenge for original equipment manufacturers (OEMs) to maintain market share.
• Stringent environmental regulations: The automotive industry is subject to increasingly stringent environmental regulations, which drive the need for sustainable manufacturing practices in crankshaft production. Meeting these regulations may require the adoption of eco-friendly materials and processes, leading to potential cost increases or technical complexities.
• Technical complexity in manufacturing high-performance crankshafts: High-performance crankshafts demand precision engineering and advanced manufacturing techniques. Producing these components requires expertise, specialized equipment, and strict quality control measures, which can present challenges for manufacturers, especially in meeting the demands of high-end performance vehicles.

Emerging Trends in Automotive Crankshaft

• Additive Manufacturing: 3D printing technology is enabling the production of complex crankshaft designs with reduced lead times and costs.
• Composite Materials: The use of lightweight composites, such as fiberglass and carbon fiber, is gaining traction to reduce engine weight and improve performance.
• Integrated Crankshafts: Crankshaft integration with other engine components is becoming common to enhance efficiency and reduce noise and vibration.

Growth Catalysts in the Automotive Crankshaft Industry

• Government incentives for fuel-efficient vehicles
• Collaborative R&D initiatives for innovative crankshaft solutions
• Expanding automotive industry in developing regions
• Adoption of Industry 4.0 technologies for efficient manufacturing

Market Segmentation: Automotive Crankshaft Analysis

Type:

• Flat Plane
• Cross Plane

Material:

• Cast Steel
• Forged Iron/Steel

Vehicle Type:

• Passenger Cars
• Commercial Vehicles

Leading Players in the Automotive Crankshaft Market

• Thyssenkrupp AG
• Nippon Steel Integrated Crankshaft LLC
• Braynt Racing Inc.
• Arrow Precision Ltd.
• Maschinenfabrik Alfing Kessler GmbH
• Mahindra CIE
• Tianrun Crankshaft Co., Ltd. 
• Eagle Specialty Products Inc.
• KSPG AG (a subsidiary of Rheinmetall AG)
• CIE Automotive
• Rheinmetall Automotive
• SCHAEFFLER AG

Significant Developments in the Automotive Crankshaft Sector

• ThyssenKrupp AG launched a new high-performance crankshaft for electric motors in 2022.
• Nippon Steel Integrated Crankshaft LLC invested in a new production facility in Japan in 2021.
• Braynt Racing Inc. unveiled a lightweight composite crankshaft for racing applications in 2023.

Comprehensive Coverage Automotive Crankshaft Market Report

• Detailed Market Sizing and Forecasting: Precise estimations of current market value and projections for future growth, segmented by material type, vehicle type, and region.
• In-depth Analysis of Market Trends and Key Drivers: Identification of prevailing market trends, influential factors, and their impact on market dynamics.
• SWOT Analysis of Major Players: A comprehensive evaluation of the strengths, weaknesses, opportunities, and threats facing leading crankshaft manufacturers, providing valuable insights into their competitive positioning.
• Competitive Landscape Analysis: An examination of the competitive intensity, market share distribution, and strategic actions of key players within the automotive crankshaft market.
• Growth Opportunities and Challenges: Identification of potential growth avenues and obstacles, including technological advancements, regulatory changes, and economic fluctuations.
• Regional Market Analysis: A detailed breakdown of market performance across key geographical regions, highlighting regional specificities and growth potential.
• Comprehensive Company Profiles and Financial Analysis: In-depth profiles of prominent companies, encompassing their market position, financial performance, and strategic initiatives.

Regional Insight

• North America: Analysis of market trends and growth drivers in the US and Canada, considering factors like automotive production levels and regulatory landscape.
• Europe: Assessment of the European automotive crankshaft market, focusing on key countries, technological advancements, and environmental regulations.
• Asia-Pacific: Examination of the rapidly growing automotive industry in Asia-Pacific, highlighting the influence of key markets such as China, India, and Japan.
• South America: Analysis of market dynamics and growth prospects in South America, considering economic conditions and automotive production.
• Middle East & Africa: Assessment of the market potential in the Middle East and Africa, focusing on emerging markets and infrastructure development.

Pricing Strategies

• Cost-plus pricing
• Competitive Pricing
• Value-based pricing

SWOT Analysis

Strengths:

• High demand for lightweight vehicles
• Technological advancements
• Cost-efficiency

Weaknesses:

• Volatility in raw material prices
• Stringent environmental regulations

Opportunities:

• Expanding automotive industry in developing regions
• Adoption of Industry 4.0 technologies

Threats:

• Intense competition from aftermarket suppliers