Asia $2.21 Billion Automotive Camshaft Market to 2028
May 07, 2021 08:33 ET
| Source:
Research and Markets
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The Asia automotive camshaft market size is expected to reach USD 2.21 billion by 2028, registering a CAGR of 3.0% over the forecast period.
The increasing adoption of double overhead camshaft engines in passenger cars, coupled with stringent government standards associated with carbon emission, is expected to drive the market over the forecast period. Rising pollution levels and the impact of global warming are compelling government authorities in the region to establish strict regulations related to vehicular emissions.
Such rules have enforced component suppliers to produce high-efficiency and lightweight components for domestic and international markets. The Indian government has instituted the Bharat stage emission standards to regulate the emission of air pollutants from various IC engine equipment, including passenger and commercial vehicles. To comply with such emission regulations, automotive manufacturers are increasingly adopting lightweight engines, thus driving the demand for automotive camshaft over the forecast period.