Rising Figure of New Auto Launches Is Spurring the Growth of the Crankshaft Market

Posted on: May-2017 | By: QY Research | Automobile

The condition of the automotive industry might be satisfactory rather than claiming that it is flourishing. The introduction of the electric vehicles has diverted the automakers focus on the futuristic technology. The global automotive market is going through a phase shift in terms of expansion and advancements. 

The demand of the automobile also drives the market of parts that are installed to keep the vehicle functioning and intact. An important part of the engine that converts the linear motion into the circular motion is the crankshaft. The design of this moving part totally relies on the type of engine, material, and the performance. 

Consumers are heavily investing in the automobiles for personal as well as commercial purposes, increased disposable incomes; reduced rates of small segment cars, declining interest rates are some of the factor responsible for the rising demand of various automobile segments, which generates a huge demand for crankshafts, is driving the global market.

Advancement in the machine engineering, availability of various metals that can be utilized in the making of crankshaft rather than using a costly and inefficient material, Constant up-gradation of design are some of the development factors motivating the global crankshaft market. 

Government procuring a large number of commercial buses to enhance the transportation system and growing demand for heavy-duty trucks owing to rising industrialization is also fostering the demand for crankshaft market.

Automakers participation in the auto shows’ and introducing their upcoming concept and production vehicles fetches huge booking due to the live product demos, this intensely augments the demand for the vehicles and effectively rises the demand graph of the crankshaft market globally.

However, on the other side consumers inclining towards electric vehicles has somewhat restrained the demand of the global crankshaft market.