Future Market Insights experts forecast a 4.5 percent growth rate in terms of value for automotive camshafts over the next decade in a new analysis on the market. By the end of 2031, the global automotive camshaft market is expected to be worth US$ 4,462.2 million, up from an anticipated US$ 2,861.2 million in 2021.
The engine auto parts ecosystem will undoubtedly be affected by this disruption, and if market demand for internal combustion engines falls, demand for ancillary items such as camshafts would inevitably fall as well. What this means for the worldwide automotive camshaft market is a reduction in product demand, resulting in a huge revenue loss.
The Automotive Camshaft Market is segmented as given below
- Cast Camshaft
- Forged Camshaft
- Assembled Camshaft
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle