Automotive crankshaft market seen reaching $7.9 billion by 2033

Persistence Market Research projects the global automotive crankshaft market will grow from $5.8 billion in 2026 to $7.9 billion by 2033 as ICE and hybrid vehicle production keeps demand for durable engine components steady. Asia Pacific leads the market, while forged crankshafts and steel alloy remain the biggest product and material segments.

Why it matters: - Automotive crankshafts are core engine components, so demand for them tracks broader ICE and hybrid vehicle production. - The market’s projected rise to US$7.9 billion by 2033 signals continued demand for durable engine parts even as electrification expands. - The report points to a US$2.1 billion incremental opportunity through 2033 for suppliers and manufacturers.

What happened: - Persistence Market Research said the global automotive crankshaft market is projected to reach US$5.8 billion in 2026 and US$7.9 billion by 2033. - The forecast implies 4.5% compound annual growth from 2026 to 2033. - The company published the report on June 23, 2026. - The report described growing demand for durable engine components, sustained ICE and hybrid vehicle production, and forging technology improvements as key growth drivers. - The report included a free sample and a customization request page.

The details: - Forged crankshafts hold the largest type segment with a 56.2% share. - Steel alloy leads the material segment with a 63.2% share. - Asia Pacific dominates the market with a 43.2% share. - North America remains supported by demand for passenger and commercial vehicles, advanced engineering capabilities and a mature supply chain. - Europe stays important because of its strong automotive industry, focus on vehicle performance and hybrid vehicle production. - The report said the market was worth US$4.7 billion in 2020. - The report also covered segmentation by crankshaft type, material, vehicle type, manufacturing process and region. - Vehicle-type coverage includes passenger vehicles, commercial vehicles, heavy trucks and two-wheelers/light-duty vehicles. - Manufacturing-process coverage includes precision forging, forged and CNC machining. - Regional coverage includes North America, Europe, East Asia, South Asia & Oceania, Latin America and the Middle East & Africa.

Between the lines: - The market remains tied to engines that use pistons and rotational force, which gives crankshafts staying power while hybrid adoption continues. - The strong share of forged crankshafts suggests buyers are prioritizing strength, fatigue resistance and long-term performance over lower-cost alternatives. - Asia Pacific’s lead reflects where much of the world’s automotive manufacturing capacity is concentrated. - The report also flags risk from electric vehicle adoption and raw material cost fluctuations.

What's next: - Market growth is expected to continue through 2033 as hybrid vehicle adoption expands and automakers keep investing in efficient engine components. - Manufacturers are likely to focus on lightweight, durable and high-performance crankshafts as forging and machining processes improve. - Emerging automotive manufacturing markets could add new demand as vehicle production rises and industrial infrastructure expands.

The bottom line: - The crankshaft market is not a fast-changing story, but it is a steady one: ICE and hybrid vehicles keep the category relevant, and the report expects that demand to compound through 2033.