The worldwide automotive camshaft market reached a value of US$3.07 billion in 2020. Looking ahead, the worldwide automotive camshaft market is predicted to exhibit reasonable growth over the next 5 years.
A camshaft is a rod-like construction that controls the entry of gasoline into an internal combustion engine and the expulsion of exhaust fumes. It is pushed by the crankshaft and types some of the important parts that control the general efficiency of an engine.
It is directly related to the camshaft either by means of a gear or by a timing belt. In some variants of engines, the camshaft additionally serves the purpose of driving the distributor, as well as the gasoline injectors that worked in early gasoline injection methods.
Major automotive companies such as BMW, Audi, Volkswagen and Mercedes-Benz are incorporating the Variable Valve (VVT) technology into their latest automobile models. This technology helps to increase engine efficiency by varying the length of the valves opening and closing throughout operation. Recently, the demand for high-performance vehicles using VVT technology has led to a huge increase in camshaft sales around the world.
Moreover, stringent vehicle regulations issued by the government in various countries and increasing pattern of engine downsizing are also driving the growth of the market. In addition, production of heavy motor vehicles has also increased due to rapid investment in infrastructure development, especially in developing countries.
Subsequently, the growing automobile fleet dimension is expected to catalyze the demand for automotive camshafts. Nonetheless, the growing reputation of motorized electric autos (EVs) represents one of several key components that could hinder the market’s growth in the coming years.
The latest report from the author provides a deeper insight into the worldwide Automotive Camshaft market covering all its important aspects.
It ranges from a macro overview of the market to a micro description of business efficiency, current trends, key market drivers and challenges, SWOT valuation, Porter’s 5 forces assessment, value chain evaluation, etc. This report is a must-see for entrepreneurs, buyers, researchers, consultants, venture strategists, and anyone who has any stake or is planning to enter the worldwide automotive camshaft market in any way.