Automotive Cam Followers Market Size, Share Report, Analysis, Trends, Growth, Forecast, 2023 - 2030

Automotive Cam Followers Industry Prospective:

The global automotive cam followers market size was worth around $6.97 billion in 2022 and is predicted to grow to around $9.23 billion by 2030 with a compound annual growth rate (CAGR) of roughly 3.53% between 2023 and 2030.

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The report analyzes the global automotive cam followers market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the automatic cam follower industry.

Automotive Cam Followers Market: Overview

Automotive cam followers, also known as automatic tappets or hydraulic lifters, are essential components found in internal combustion engines. Their main purpose is to keep precise valve clearances and ensure smooth operation of the engine's valvetrain. Traditionally, cam followers were solid components that required manual adjustments to maintain the appropriate clearance between the cam lobes and the valves. Furthermore, with the advent of modern engine technology, Automotive cam followers were developed to simplify maintenance and improve engine performance. These Automotive cam followers operate using hydraulic principles. They consist of a cylinder filled with oil and a plunger that is actuated by the camshaft. As the camshaft rotates, it pushes the plunger, causing the oil to be compressed within the cylinder.

Key Insights

• As per the analysis shared by our research analyst, the global automotive cam followers market is estimated to grow annually at a CAGR of around 3.53% over the forecast period (2023-2030).
• In terms of revenue, the global Automotive Cam Followers Market size was valued at around $ 6.97 billion in 2022 and is projected to reach $ 9.23 billion, by 2030.
• The automotive industry's continuous growth and technological advancements have been a significant driving force behind the automotive cam followers marketexpansion. As vehicle manufacturers strive to improve engine efficiency and performance, the demand for advanced valvetrain systems, including Automotive cam followers, has surged.
• Based on the type, the knife-edge followers segment is expected to dominate the market during the forecast period.
• Based on the motion, the oscillating automotive camshaft followers segment is expected to capture the largest revenue share over the forecast period.
• Based on the engine type, the v-line segment is expected to dominate the market during the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

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Automotive Cam Followers Market: Drivers

Increasing Demand For Automotive Industry With A Shift Towards Efficient Engines Is Likely To Boost The Global Market Growth.

The automotive industry's continuous growth and technological advancements have been a significant driving force behind the expansion of the global automatic cam follower market. As vehicle manufacturers strive to improve engine efficiency and performance, the demand for advanced valvetrain systems, including Automotive cam followers, has surged. Automotive cam followers play a vital role in optimizing valvetrain performance, reducing friction, and ensuring precise valve timing. Moreover, the growing consumer preference for fuel-efficient and environmentally friendly vehicles has pushed automakers to adopt more efficient engine technologies, creating a favorable market environment for Automotive cam followers. For Instance, in March 2023, Nachi-Fujikoshi acquired the cam follower business of NSK. This acquisition will allow Nachi-Fujikoshi to offer a wider range of cam followers to its customers and strengthen its position in the global market.

One more growth driver of the Automotive cam followers’ market is the increasing vehicle production and engine modernization across the automotive industry. As the global demand for automobiles continues to rise, vehicle manufacturers are compelled to produce more vehicles to meet consumer needs and preferences. Additionally, there is a growing focus on engine modernization to comply with stringent emissions regulations and achieve better fuel efficiency.

Automotive Cam Followers Market: Restraints

Growing Demand For Electric Vehicles (EVs) Likely To Limit The Market Growth.

The rise in demand for electric vehicles (EVs) is likely to pose as a restraining factor for the automatic cam follower industry growth. As the automotive industry gradually shifts towards electrification, traditional internal combustion engines, and their associated components, including Automotive cam followers, may face a potential decline in demand. Unlike conventional engines, electric vehicles do not require valvetrain systems, as they use electric motors to generate power. The increasing popularity of EVs and the advancement of battery technology might result in reduced demand for Automotive cam followers in the long run.

Automotive Cam Followers Market: Opportunities

Retrofitting And Aftermarket Potential To Open New Growth Avenues For The Global Market.

An opportunity for the automotive cam followers market lies in the retrofitting and aftermarket segment. Many existing vehicles in the market still operate on traditional internal combustion engines and may not have Automotive cam followers installed. Retrofitting older vehicles with Automotive cam followers offers a cost-effective way for vehicle owners to improve engine efficiency and performance without investing in a new car. Additionally, the aftermarket presents an opportunity for manufacturers and suppliers to provide replacement Automotive cam followers, catering to the maintenance and replacement needs of older vehicles. For Instance, in March 2023, Nachi-Fujikoshi announced that it had developed a new line of cam followers that are specifically designed for the retrofitting market. These cam followers are designed to be easy to install and can help to improve the performance of older engines.

Automotive Cam Followers Market: Challenge

Intense Market Competition And Technological Advancements To Be A Major Challenge For The Global Industry Surge.

The Automotive cam followers industry faces challenges due to intense competition and constant technological advancements. Numerous companies operate in this market, offering different cam follower solutions, making it highly competitive. To remain competitive, manufacturers need to continually invest in research and development to improve their product's performance and efficiency.

Automotive Cam Followers Market: Segmentation

The global Automotive cam followers are segmented based on type, motion, engine type, and region.

Based on the type, the global market is bifurcated into needle cam follower, flat cam follower, knife edge follower, roller cam follower, and spherical follower. The knife-edge follower segment is expected to dominate the market during the forecast period. The growth of this segment can be attributed to the automotive industry's rapid transition towards more efficient engines. The knife-edge follower segment is poised to drive significant growth within the Automotive Cam Followers Market.

This growth can be attributed to several key factors that underscore its appeal and relevance in various industries. One of the primary driving forces is the knife-edge follower's ability to provide precision and accuracy in translating the rotational motion of a cam into smooth linear motion. This attribute is critical in applications where tight tolerances and consistent performance are essential, such as in automotive manufacturing, industrial automation, and aerospace engineering.

Based on the motion, the Automotive cam followers industry is bifurcated into oscillating automotive camshaft followers and translating automotive camshaft followers. The oscillating automotive camshaft follower segment is expected to dominate the market during the forecast period. Oscillating automotive refers to the trend in the automotive industry toward developing high-performance engines that require precise and efficient valvetrain systems. The oscillating automotive camshaft follower segment plays a pivotal role in driving the growth of the automatic cam follower market. This growth is primarily attributed to the relentless pursuit of enhanced engine performance, fuel efficiency, and reduced emissions in modern vehicles. Oscillating camshaft followers, with their intricate design and precise mechanical movement, offer significant advantages over traditional follower mechanisms. These followers ensure more consistent valve actuation, resulting in improved engine responsiveness and reduced frictional losses.

Based on the engine type, the Automotive cam followers industry is bifurcated into inline and v-line. The V-line segment is expected to dominate the market during the forecast period. The growth of the V-Line segment can be attributed to the increasing demand for high-performance engines and the popularity of V-shaped engine configurations. V-shaped engines offer several advantages, such as compact size, reduced weight, and improved balance, making them well-suited for high-performance vehicles. Additionally, these engines often generate more power due to the inherent design characteristics that allow for better cylinder breathing and less interference between cylinders.

Automotive Cam Followers Market: Report Scope

Automotive Cam Follower Market: Regional Analysis

North America Is Expected To Dominate The Market During The Forecast Period

North America is a significant region in the global Automotive Cam Followers Market due to its strong automotive industry and technological advancements. The region is home to major automobile manufacturers and a large consumer base with a preference for high-performance vehicles. The growing demand for fuel-efficient cars and stringent emissions regulations in the region are driving the adoption of advanced valvetrain systems, including Automotive cam followers. Additionally, the trend towards engine downsizing and turbocharging further boosts the demand for cam followers that can deliver precise valve control and optimal performance.

Europe is another prominent market for Automotive cam followers, driven by its well-established automotive sector and a focus on environmental sustainability. European countries have stringent emissions standards, compelling automakers to invest in engine technologies that reduce carbon emissions and improve fuel economy. Automotive cam followers play a vital role in achieving these objectives by optimizing valve timing and reducing friction losses.

Automotive Cam Followers Market: Competitive Analysis

The Automotive cam followers’ market is dominated by players like:

• Carter Manufacturing Ltd.
• AB SKF
• National Precision Bearing Group
• Schaeffler Technologies AG & Co. KG
• Federal-Mogul LLC
• RBC Bearings Inc.
• Delphi Automotive LLP
• THK Co. Ltd.
• Crower Cams & Equipment Company Inc

The Automotive cam followers’ market is segmented as follows:

By Type

• Needle Cam Follower
• Flat Cam Follower
• Knife Edge Follower
• Roller Cam Follower
• Spherical Follower

By Motion

• Oscillating Automotive Camshaft Follower
• Translating Automotive Camshaft Follower

By Engine Type

• Inline
• V-Line

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa