Summary

Automotive Crankshaft Market Summary

The global automotive crankshaft market size was estimated at USD 4981.1 million in 2024, and is projected to reach USD 7279.4 million by 2033, growing at a CAGR of 4.5% from 2025 to 2033. The automotive crankshaft market is gaining momentum, driven by increasing production of internal combustion engine (ICE) and commercial vehicles in emerging markets, rising demand for lightweight yet high-strength crankshaft materials, and the integration of advanced manufacturing technologies such as precision forging and CNC machining.

As OEMs focus on improving engine efficiency, durability, and performance, crankshafts are being redesigned with tighter tolerances and enhanced metallurgical properties. Additionally, the adoption of high-performance alloys and surface treatments is helping manufacturers meet evolving regulatory and performance benchmarks. The growing interest in billet crankshafts, particularly for high-performance and prototype electric vehicles, presents a significant opportunity due to their superior fatigue strength and customizability. However, maintaining dimensional accuracy and fatigue resistance across varying loads and materials continues to pose an engineering challenge.

The increasing production of internal combustion engines (ICE) and commercial vehicles in emerging markets is significantly driving the demand for automotive crankshafts. Countries including China, Japan, and India are witnessing robust growth in vehicle manufacturing, supported by strong domestic demand and rising export activities. According to the India Brand Equity Foundation, India's annual automobile production in 2023 reached 25.9 million units, with two-wheelers and passenger cars accounting for the majority share. In 2025 (April-September), total vehicle production surpassed 15.6 million units, reflecting the resilience of the automotive sector. This sustained growth in ICE and commercial vehicle output is boosting the need for crankshaft components, as manufacturers scale up to meet both local and global market requirements.

Today, manufacturers are increasingly focusing on improving fuel efficiency, reducing emissions, and enhancing engine performance. The use of advanced materials such as forged steel, billet steel, and aluminum alloys enables significant weight reduction while maintaining the required strength and durability to withstand high engine loads. Lightweight crankshafts are particularly valuable in performance vehicles, hybrid models, and commercial applications where fuel economy and operational efficiency are critical. For instance, high-performance sports cars and premium vehicles often employ billet steel crankshafts to optimize power-to-weight ratios.

Precision forging enhances the mechanical properties of crankshafts, ensuring greater fatigue resistance and structural integrity, which are essential for modern engines operating under high stress. CNC machining allows for tighter tolerances and complex geometries, resulting in crankshafts that meet stringent OEM specifications. This technological shift supports faster production cycles, cost-efficiency, and customization for diverse vehicle types. For example, high-performance and commercial vehicle manufacturers increasingly adopt precision-forged crankshafts to meet durability and light-weighting requirements, reinforcing the relevance of these technologies in driving market expansion.

Billet crankshafts, machined from a solid piece of high-strength steel, offer superior durability, precision, and performance under extreme conditions, making them ideal for high-horsepower applications and motorsports. Additionally, as automakers and EV start-ups increasingly develop high-performance electric powertrains, billet crankshafts are being explored for hybrid and range-extender applications where strength, weight reduction, and reliability are critical. This trend is opening up new avenues for specialized crankshaft manufacturers targeting niche markets such as racing, luxury sports cars, and next-generation electric or hybrid vehicles seeking enhanced power delivery and efficiency.

Crankshafts are predominantly manufactured using steel alloys, the prices of which have remained volatile due to fluctuations in global commodity markets. For instance, the average global price of steel rose from approximately USD 500 per metric ton in 2020 to over USD 750-800 per metric ton in 2024, significantly impacting manufacturing costs. Additionally, forging processes require substantial energy inputs, particularly in precision forging and heat treatment stages, further adding to operational expenses. These cost pressures are especially challenging for small and mid-sized manufacturers, limiting their competitiveness and scalability in global markets.

Global Automotive Crankshaft Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global automotive crankshaft market report based on crankshaft type, material, manufacturing process, vehicle type, and region.

• Crankshaft Type Outlook (Revenue, USD Million, 2021 - 2033)
• Forged Crankshaft
• Cast Crankshaft
• Billet Crankshaft
• Material Outlook (Revenue, USD Million, 2021 - 2033)
• Steel Alloy
• Cast Iron
• Billet Steel
• Other Materials
• Manufacturing Process Outlook (Revenue, USD Million, 2021 - 2033)
• Precision Forging
• Casting
• CNC Machining
• Heat Treatment & Surface Finishing
• Vehicle Type Outlook (Revenue, USD Million, 2021 - 2033)
• Passenger Vehicles
• Commercial Vehicles
• Regional Outlook (Revenue, USD Million, 2021 - 2033)
• North America
o U.S.
o Canada
o Mexico
• Europe
o UK
o Germany
o France
• Asia Pacific
o China
o India
o Japan
o Australia
o South Korea
• Latin America
o Brazil
• Middle East & Africa (MEA)
o UAE
o Kingdom of Saudi Arabia (KSA)
o South Africa

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Table of Contents

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Research Methodology
1.2.1. Information Procurement
1.3. Information or Data Analysis
1.4. Methodology
1.5. Research Scope and Assumptions
1.6. Market Formulation & Validation
1.7. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Automotive Crankshaft Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.2. Market Restraint Analysis
3.2.3. Industry Challenge
3.3. Automotive Crankshaft Market Analysis Tools
3.3.1. Industry Analysis - Porter’s
3.3.1.1. Bargaining power of the suppliers
3.3.1.2. Bargaining power of the buyers
3.3.1.3. Threats of substitution
3.3.1.4. Threats from new entrants
3.3.1.5. Competitive rivalry
3.3.2. PESTEL Analysis
3.3.2.1. Political landscape
3.3.2.2. Economic landscape
3.3.2.3. Social Landscape
3.3.2.4. Technological landscape
3.3.2.5. Environmental Landscape
3.3.2.6. Legal landscape
Chapter 4. Automotive Crankshaft Market: Crankshaft Type Estimates & Trend Analysis
4.1. Segment Dashboard
4.1.1. Automotive Crankshaft Market: Crankshaft Type Movement Analysis, USD Million, 2024 & 2033
4.2. Forged Crankshaft
4.2.1. Forged Crankshaft Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.3. Cast Crankshaft
4.3.1. Cast Crankshaft Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
4.4. Billet Crankshaft
4.4.1. Billet Crankshaft Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 5. Automotive Crankshaft Market: Material Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Automotive Crankshaft Market: Material Movement Analysis, USD Million, 2024 & 2033
5.3. Steel Alloy
5.3.1. Steel Alloy Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
5.4. Cast Iron
5.4.1. Cast Iron Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
5.5. Billet Steel
5.5.1. Billet Steel Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
5.6. Other Materials
5.6.1. Other Materials Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 6. Automotive Crankshaft Market: By Manufacturing Process Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. Automotive Crankshaft Market: By Manufacturing Process Movement Analysis, USD Million, 2024 & 2033
6.3. Precision Forging
6.3.1. Precision Forging Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
6.4. Casting
6.4.1. Casting Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
6.5. CNC Machining
6.5.1. CNC Machining Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
6.6. Heat Treatment & Surface Finishing
6.6.1. Heat Treatment & Surface Finishing Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 7. Automotive Crankshaft Market: By Vehicle Type Estimates & Trend Analysis
7.1. Segment Dashboard
7.2. Automotive Crankshaft Market: By Vehicle Type Movement Analysis, USD Million, 2024 & 2033
7.3. Passenger Vehicles
7.3.1. Passenger Vehicles Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
7.4. Commercial Vehicles
7.4.1. Commercial Vehicles Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 8. Automotive Crankshaft Market: Regional Estimates & Trend Analysis
8.1. Automotive Crankshaft Market Share, By Region, 2024 & 2033, USD Million
8.2. North America
8.2.1. North America Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.2.2. U.S.
8.2.2.1. U.S. Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.2.3. Canada
8.2.3.1. Canada Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.2.4. Mexico
8.2.4.1. Mexico Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.3. Europe
8.3.1. Europe Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.3.2. UK
8.3.2.1. UK Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.3.3. Germany
8.3.3.1. Germany Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.3.4. France
8.3.4.1. Italy Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.4. Asia Pacific
8.4.1. Asia Pacific Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.4.2. China
8.4.2.1. China Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.4.3. Japan
8.4.3.1. Japan Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.4.4. India
8.4.4.1. India Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.4.5. South Korea
8.4.5.1. South Korea Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.4.6. Australia
8.4.6.1. Australia Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.5. Latin America
8.5.1. Latin America Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.5.2. Brazil
8.5.2.1. Brazil Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.6. Middle East and Africa
8.6.1. Middle East and Africa Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.6.2. UAE
8.6.2.1. UAE Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.6.3. KSA
8.6.3.1. KSA Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
8.6.4. South Africa
8.6.4.1. South Africa Automotive Crankshaft Market Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 9. Competitive Landscape
9.1. Company Categorization
9.2. Company Market Positioning
9.3. Company Heat Map Analysis
9.4. Company Profiles/Listing
9.4.1. Thyssenkrupp AG
9.4.1.1. Participant’s Overview
9.4.1.2. Financial Performance
9.4.1.3. Product Benchmarking
9.4.1.4. Strategic Initiatives
9.4.2. Rheinmetall AG
9.4.2.1. Participant’s Overview
9.4.2.2. Financial Performance
9.4.2.3. Product Benchmarking
9.4.2.4. Strategic Initiatives
9.4.3. Bharat Forge Ltd
9.4.3.1. Participant’s Overview
9.4.3.2. Financial Performance
9.4.3.3. Product Benchmarking
9.4.3.4. Strategic Initiatives
9.4.4. NSI Crankshaft Company
9.4.4.1. Participant’s Overview
9.4.4.2. Financial Performance
9.4.4.3. Product Benchmarking
9.4.4.4. Strategic Initiatives
9.4.5. Kellogg Crankshaft Company
9.4.5.1. Participant’s Overview
9.4.5.2. Financial Performance
9.4.5.3. Product Benchmarking
9.4.5.4. Strategic Initiatives
9.4.6. Tianrun Crankshaft Co. Ltd.
9.4.6.1. Participant’s Overview
9.4.6.2. Financial Performance
9.4.6.3. Product Benchmarking
9.4.6.4. Strategic Initiatives
9.4.7. Maschinenfabrik Alfing Kessler GmbH
9.4.7.1. Participant’s Overview
9.4.7.2. Financial Performance
9.4.7.3. Product Benchmarking
9.4.7.4. Strategic Initiatives
9.4.8. Sandvik AB
9.4.8.1. Participant’s Overview
9.4.8.2. Financial Performance
9.4.8.3. Product Benchmarking
9.4.8.4. Strategic Initiatives
9.4.9. Crower Cams & Equipment Co., Inc.
9.4.9.1. Participant’s Overview
9.4.9.2. Financial Performance
9.4.9.3. Product Benchmarking
9.4.9.4. Strategic Initiatives
9.4.10. Arrow Precision Ltd
9.4.10.1. Participant’s Overview
9.4.10.2. Financial Performance
9.4.10.3. Product Benchmarking
9.4.10.4. Strategic Initiatives