The global Camshaft Lifters market is expected to witness a market value of US$ 3.5 Billion in 2023 and is expected to accumulate a market value of US$ 5.9 Billion by registering a CAGR of 5.5% in the forecast period 2023 to 2033. The Camshaft Lifters market registered a CAGR of 3.2% in the historical period 2018 to 2022. Factors such as increasing inclination towards high performance as well as enhanced efficiency in vehicles, and an upsurge in sales of vehicles are expected to boost the market growth over the analysis period.
As per Future Market Insights - market research and competitive intelligence provider, the global market value for Camshaft Lifters has been flourished. With the increasing demand for high-performance vehicles, as well as improved fuel efficiency, there is a growing need for advanced camshaft lifters. Manufacturers are investing in research and development to develop innovative and technologically advanced camshaft lifters that can meet the performance and efficiency requirements of modern engines.
Additionally, with the increasing demand for hybrid vehicles, the camshaft lifters market is expected to fuel. The hybrid vehicles use both internal combustion engines and electric motors to power the vehicle. Camshaft lifters play an important role in the internal combustion engine of a hybrid vehicle, controlling the opening and closing of valves.
The camshaft lifters are not only used in passenger cars but also in heavy-duty vehicles like trucks, buses, and construction equipment. With the increasing demand for heavy-duty vehicles due to rising infrastructure development, the revenue share for camshaft lifters market is also anticipated to increase.
Moreover, the governments around the globe, have been implementing strict regulations on emissions from vehicles to reduce pollution and improve air quality. Camshaft lifters can help in reducing emissions by controlling the amount of fuel burned during the combustion process. Consequently, the market demand is projected to augment, owing to the need for more efficient and eco-friendly internal combustion engines.
Another major factor that is anticipated to propel the growth of the camshaft lifters market is the increasing adoption of electric vehicles (EVs). EVs have been gaining popularity in recent years as they offer a cleaner and more sustainable mode of transportation. While EVs do not require camshaft lifters, the growth of the EV market is expected to have a positive impact on the camshaft lifters market indirectly. This is because the growth of the EV market is expected to lead to a decline in demand for traditional internal combustion engines, which in turn, is expected to increase the demand for camshaft lifters in the remaining ICE vehicles.
On the regional end, the Camshaft Lifters market in North America is expected to account for the maximum share during the analysis period, owing to the factors such as the growth of the automotive industry, surge in demand for fuel-efficient vehicles, and technological advancements. In addition, the increasing adoption of electric vehicles in the region is also expected to have a positive impact on the market.
Recent developments in the technology, mergers and acquisitions, and partnerships within the companies involved in the designing of Camshaft Lifters are expected to create lucrative opportunities for the market growth over the analysis period.
For instance, the automotive and industrial supplier Schaeffler, in November 2022, had signed a contract with the CERATIZIT Group for the acquisition of CERASPIN. Based in Livange, Luxembourg, CERASPIN has over 25 years’ experience in the development and production of premium ceramic products, the majority of which are processed into rolling elements for various bearing applications.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 3.5 Billion |
| Projected Market Value in 2033 | US$ 5.9 Billion |
| Growth Rate (2023 to 2033) | 5.5% CAGR |
Camshafts are classified based on the kind of lifter they use. Depending on the lifter, the lobes on the cam are machined differently. Lifters are sometimes known as "followers" or "tappets".
The rising demand for high performance engines and the constant innovations in the automotive industry is expected to fuel the growth of the market throughout the forecast period.
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Camshaft lifters aid in achieving high efficiency while lowering fuel emissions. These lifters boost efficiency and productivity while also improving the number of revolutions per minute (RPM).
As the demand for high-efficiency vehicles grows worldwide, leading manufacturers are focusing on technological innovations. Government rules and norms have imposed an increase in fuel efficiency of vehicles, while reducing the CO2 emissions.
For example, starting from 2017, the United States Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration (NHTSA) have set rules for all new passenger cars and light trucks to increase fuel efficiency and reduce emissions.
Similarly such norms are being followed by many developed and developing countries across the world. Moreover, the rise in the production and sales of automobiles globally is expected to propel the growth of the market throughout the forecast period.
Roller camshafts are gaining prominence among automobile manufacturers mainly due to their improved output efficiency and vehicle performance. Roller camshafts are capable of operating at high engine rpms of 1500 to 2000, providing them a competitive edge over other camshaft lifters available in the market.
Roller Camshafts reduce friction, thereby increasing the amount of power available. Roller cams tend to wear less resulting in a longer lifespan. These camshafts also open faster and stay in a higher lift for a longer duration of time. This results in increased airflow and power. These factors are expected to spur the sales of Roller camshafts in the global market.
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In 2020, as per OICA (Organisation Internationale des Constructeurs d'Automobiles), the passenger car segment accounted for around 71% of the global vehicle production.
The significant production makes passenger cars the prominent vehicle segment for camshaft lifters. In the Americas, the growing popularity of SUVs and hatchbacks is fuelling the demand for passenger vehicles.
Due to rising living standards and economic development in Europe and the Americas, demand for premium cars is expanding. Roads and infrastructure have improved in countries like China, India, South Korea and Vietnam owing to economic development. As a result, the trend of owning a vehicle has accelerated, resulting in an increase in the number of passenger vehicles. The market for camshaft lifters is being propelled by an increase in the number of passenger vehicles.
In order to limit air pollution and combat climate change, Asia Pacific countries are enacting strict laws. For example, in nations like India, Japan and China, government requirements such as CAFÉ and pollution control norms are pushing the need for high-performance and fuel-efficient vehicles.
The rapid rise in the production and sales of vehicles in countries like India and China is likely expected to boost the sales of Camshaft Lifters in the region.
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The existence of leading producers has made the camshaft lifters market highly concentrated.
Few of the major participants in the market are
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Camshaft Lifters Market
