Non-Automotive Camshaft Market projected to reach USD 2,404.9 Million by 2030, growing at a CAGR of 3.7% during the forecast period of 2023-2030 – professed by MarketDigits in its recent study.
The Global Non-Automotive Camshaft Market was valued USD 1,713.2 Million in 2023 and projected to reach USD 2,404.9 Million by 2030, growing at a CAGR of 3.7% during the forecast period of 2023-2030.
CarMia Way Richmond, Nov. 08, 2023 (GLOBE NEWSWIRE) — According to a research report “Non-Automotive Camshaft Market, by Component (Service, Hardware, Software), Application (Data Security, Secure Enclaves, Pellucidity between Users, Others) Deployment Mode (On-Premise and Cloud-based), Industry Vertical (BFSI, Government & defense, Healthcare, IT & telecommunications, Retail, Manufacturing, Others), and Region.
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TOC Covers in Depth & Breath on Non-Automotive Camshaft Market
165 – Market Data Tables
63 – List of Figures
220 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Non-Automotive Camshaft, a rapidly evolving field in the realm of cybersecurity and data protection, is poised to make a significant impact in the technology sector. It is a cutting-edge approach that ensures data remains confidential and secure, even when processed in untrusted environments. As organizations grapple with increasingly complex and sophisticated threats to their sensitive information, the Non-Automotive Camshaft market has seen substantial growth and innovation. Non-Automotive Camshaft is an emerging technology that is designed to protect sensitive data while it is being processed by applications in the cloud or other computing environments. It aims to keep data encrypted and secure even during processing, thereby minimizing the risk of data breaches and unauthorized access. The Non-Automotive Camshaft market has been growing as organizations increasingly recognize the importance of securing sensitive data. The demand for stronger data protection mechanisms has driven growth in this sector. The market offers opportunities through technological advancements in materials and manufacturing processes. Innovations in material science and precision engineering present opportunities to develop camshafts with enhanced durability and performance, meeting the demands of non-automotive applications more effectively. Moreover, the growth of renewable energy and sustainable practices has led to opportunities in the wind and solar power sectors, where camshafts are crucial components in power generation equipment.
Major vendors in the global Non-Automotive Camshaft Market – Mahle GmbH, Thyssenkrupp AG, Linamar Corporation, Engine Power Components Inc., Estas Camshaft, Federal-Mogul Holdings Corporation, Musashi Seimitsu Industry Co. Ltd., Precision Camshafts Ltd., Crower Cams & Equipment Company, Inc., Kautex Textron GmbH & CoKG, Metalart Corporation, LRKimball, ElringKlinger AG, Hirschvogel Incorporated, Newman Cams, Competition Cams Inc., Hitachi Automotive Systems, Kendrion N.V., Woodward, Inc., YASUNAGA Corporation and Others.
Growing Demand for Recreational and Power Sports Vehicles
The market for non-automotive camshafts is expanding significantly, partly due to the rising demand for power sports and leisure vehicles. Although camshafts are an essential part of conventional automobile engines, they are also very important in a number of non-automotive applications, such as jet skis, snowmobiles, motorbikes, and other power sports and leisure vehicles. The market is growing because of the increase in demand for these cars, which is being fueled by a number of important factors. A change in customer tastes is driving the increased popularity of motor sports and leisure vehicles. These cars are becoming more and more appealing to a diverse variety of demographics since they provide fans with the excitement of off-road adventures, speed, and performance. Sales of motorcycles, ATVs, personal watercraft, and snowmobiles are increasing due to the allure of experiencing the great outdoors, motorsports, and leisure activities.
- Growing Demand for Recreational and Power Sports Vehicles
- Booming Construction and Industrial Machinery Sector
- Demand for High-Performance Engines in Recreational Vehicles and Power Equipment
- Rising Focus on Reducing Emissions and Enhancing Fuel Efficiency in Marine and Aerospace Industries
Demand for High-Performance Engines in Recreational Vehicles and Power Equipment
The growing market for non-automotive camshafts is expected to benefit from the rising demand for high-performance engines in power equipment and recreational vehicles. Technological developments, shifting customer tastes, and an increasing focus on power, efficiency, and dependability are driving this rise in demand, creating a favorable environment for the growth of the camshaft market. The rising popularity of high-performance engines in recreational vehicles, such motorcycles, all-terrain vehicles (ATVs), and personal watercraft, is one of the main prospects in the non-automotive industry. More potent and competent cars that may provide an adrenaline rush and improve off-road or on-water experiences are what enthusiasts and adventure seekers are looking for. Because of this, producers are fitting more and more of these recreational vehicles with powerful engines that deliver increased torque, speed, and agility.
The market for Non-Automotive Camshaft is dominated by North America.
North America now has a dominant position in the non-automotive camshaft market, and the region has been essential in the growth and development of this market segment. Due to a number of variables that highlight the region’s robust presence in both manufacturing and technical innovation, North America leads this industry. Strong R&D programs, a wide variety of non-automotive uses, and a high level of technological advancement adaptability are some of these reasons. North America’s market dominance is fueled by its prominent position in the global non-automotive industry. The region boasts a vibrant manufacturing ecosystem, encompassing a wide array of non-automotive applications where camshafts are instrumental in optimizing engine performance. These applications span from recreational vehicles, power equipment, and generators to marine and aerospace engines. The strong industrial base and manufacturing capabilities have driven the adoption of advanced camshaft technology, positioning North America as a hub for non-automotive camshaft production and innovation.
In this market, the Asia Pacific region is starting to develop at the quickest rate. The Asia Pacific area is seeing tremendous expansion because to its growing customer base, growing production capabilities, and rising acceptance of non-automotive applications. Asia Pacific is set to emerge as a major force in the non-automotive camshaft market, with significant development prospects and room to expand, thanks to the region’s booming demand for power tools, recreational vehicles, and other non-automotive engines.
The Cast Camshafts Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
In Non-Automotive Camshaft Market, the segment of Cast Camshafts has emerged as a dominant segment. The Cast camshaft segment of the global non-automotive camshaft market, represents a commonly utilized camshaft manufacturing method. Cast camshafts are created by pouring molten metal, often cast iron or steel, into a mold to form the camshaft’s shape. This manufacturing process offers cost-effectiveness, making it a popular choice for a wide range, especially those with moderate engine performance requirements. Cast camshafts are known for their durability, resistance to wear, and reliability, making them a preferred option for numerous applications, from Aerospace Industry to other applications. Overall, the cast camshafts segment is expected to hold the highest revenue and market share in the non-automotive camshaft market during the forecast period. The cast camshaft segment in the automotive industry continued to see advancements in materials and manufacturing processes. Engine manufacturers were focusing on enhancing the performance and durability of cast camshafts to meet stringent emissions and efficiency standards. Top companies like Precision Camshaft Ltd. and Linamar Corporation were investing in research and development to reduce weight and improve the design of cast camshafts, optimizing engine performance while minimizing fuel consumption and emissions. Additionally, innovations in casting techniques and the use of advanced alloys were contributing to the production of high-quality cast camshafts that meet the evolving demands of modern engines.
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- In October 2022, ThyssenKrupp Aerospace and The Boeing Company have recently inked a contract extension that solidifies their business development. Under this agreement, ThyssenKrupp Aerospace, a division of ThyssenKrupp Materials Services, the preeminent materials distributor and service provider in the western hemisphere, will persist in delivering unwavering supply chain management services, raw material provisions, and value-added services to Boeing and its extensive global network of subcontractors. This continuation of their collaboration reinforces the commitment to mutual success and excellence in the aerospace industry.
- In September 2023, Yamaha Motor Co., Ltd. has disclosed an agreement in which it was decided that Chongqing Jianshe Mechanical and Electric Co., Ltd., a current collaborator in the Company’s motorcycle manufacturing joint venture in China, Zhuzhou Jianshe Yamaha Motor Co., Ltd. (ZJYM), will transfer its equity interest in ZJYM to ZHEJIANG CFMOTO POWER CO., LTD. (CFMOTO). The newly formed business entity will be known as ZHUZHOU CF YAMAHA MOTOR CO., LTD.
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