Automotive Connecting Rod Bolt Market By Material Type (High-Strength Steel, Titanium, Aluminum Alloys, Composite Materials); By Vehicle Type (Passenger Cars, Commercial Vehicles (Light and Heavy-Duty), Two-Wheelers, Hybrid Vehicles); By End User (Original Equipment Manufacturers (OEMs), Aftermarket); By Geography, Segment revenue estimation, Forecast, 2024–2032.

The automotive connecting rod bolt market was USD 3.4 billion in 2023 and was estimated to reach USD 5.6 billion by 2030, growing at a CAGR of 7.1% during the forecast period of 2024-2030. The growth has been attributed to factors such as vehicle production, its growing demand for lightweight engines, and innovation in material and technology use for high-performance bolts.

 

The automotive connecting rod bolt is an essential part of an inner combustion engine, specifically a reciprocating internal combustion engine, which connects the crankshaft with the connecting rod and bearing caps. These bolts ensure the engine operates optimally by sustaining stiffness against rotating and compressive forces. Huge demand for fuel-efficient automobiles, technological development in automobiles, and demand for hybrid and electric automobiles or EVs have played a major role in producing automotive connecting rod bolts.

 

Market Drivers

Growth in Global Vehicle Production: The rising output of passenger cars, light commercial vehicles, and two-wheelers drives demand for connecting rod bolts. The automotive industry constantly grows, so connecting rod bolts is critical in engine production. Vehicle production will grow to 90 million units by 2023, with a percentage of these cars being hybrids and electric cars. Example: Recently, in 2023, a leading Japanese automaker highlighted a 10 % increase in connecting rod bolt orders in its broadening of automobile manufacturing.

 

Rising Demand for Lightweight and High-Performance Components: Manufacturers of automobiles are paying attention to the weight reduction of the engine parts to improve fuel economy. The use of new products such as titanium and high-strength steel in producing connecting rod bolts is driving the market's growth. Example: A German sports car manufacturer used titanium connecting rod bolts in its engines from 2023 to achieve a 15% decrease in engine weight and improved performance.

 

Advancements in Material Technology: Technological advancement has led to new connecting rod bolts that are resistant to corrosion and can easily perform a high level of tensile strength, thereby being suitable for high-performance and carry vehicles. Example: In the case of a U.S.-based bolt manufacturer in 2022, a new high-strength alloy connecting rod bolts was launched with a longer life, which applies to heavy-duty vehicles.

 

Growth in the Aftermarket Segment: The growing frequency of the need for both maintenance and replacement of a wide array of components in aged engines is the key factor fueling the aftermarket consumption of connecting rod bolts. The automotive aftermarket was valued at USD 500 billion in 2023, and the share of connecting rod bolts was considerable.

 

Market Opportunities

Rising Production of Hybrid and Electric Vehicles: While EVs have fewer moving parts, hybrids still utilize internal combustion engines; therefore, there are prospects for makers of connecting rod bolts. Example: a growing demand was initiated in 2023 as a Chinese hybrid vehicle manufacturer sought to incorporate lightweight connecting rod bolts to enhance efficiency standards.

 

Growing Automotive Markets in Emerging Economies: India, Brazil, and countries in Southeast Asia are experiencing growing automotive production and use, which is creating more opportunities. For example, vehicle production in India reached 11 % in 2023, which boosted the demand for connecting rod bolts in passenger vehicles and CVs.

 

Focus on Sustainable Manufacturing Practices: Manufacturers use energy-efficient production processes and incorporate recycled products, concurring with modern sustainable development objectives. Example: In 2022, a bolt manufacturing company in Europe adopted green manufacturing practices, showing they had cut their carbon footprint by 20%.

 

Market Restraints

High Costs of Advanced Materials: Light and strong materials enhance performance by increasing reliability and fuel efficiency and reducing vehicle emissions, but their high costs restrain their usage, especially in economically sensitive segments.

 

Impact of EV Transition: The high demand for electric car production may decrease the use of connecting rod bolts as they are used in pure electric vehicles, which do not contain internal combustion engines.

 

Fluctuating Raw Material Prices: This hampers market growth, as fluctuations in crude and similar steel and titanium-based metals vary the production cost.

 

Market Segmentation

By Material Type:

• High-Strength Steel
• Titanium
• Aluminum Alloys
• Composite Materials

 

By Vehicle Type:

• Passenger Cars
• Commercial Vehicles (Light and Heavy-Duty)
• Two-Wheelers
• Hybrid Vehicles

 

By End User:

• Original Equipment Manufacturers (OEMs)
• Aftermarket

 

By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

 

Segment Analysis

Leading Material Type: High-Strength Steel

High-strength steel held the largest market share, approximately 50% by revenue in 2023, due to its low cost, high durability, and availability. Example: A leading U.S. automaker used high-strength steel bolts in engines in 2023 for accurate performance in high-compression engines.

 

Leading Vehicle Type: Passenger Cars

Passenger cars contributed 60% of the total revenues in 2023 due to increasing production and demand for fuel-efficient and high-performance cars. For example, a South Korean manufacturer stepped up production of connecting rod bolts for mounting on passenger cars in the Asia-Pacific region in 2023.

 

Regional Analysis

Asia-Pacific is the largest and fastest-growing market, with 45% of revenue share in 2023 due to high vehicle production, increased middle-class population as consumers, and government support for EVs. Asia and Pacific: China and India, two main automobile-producing countries in the world, consumed 70% of connecting rod bolts.

 

North America is expected to have one of the largest market shares due to increased automobile production, heavy usage of lightweight materials, and the need for high-performance vehicles. Example: In 2023, a Michigan-based truck manufacturer applied titanium connecting rod bolts to increase the lifespan of heavy-duty engines.

 

Europe has a market share of 30% as it requires high-performance and luxury cars and has strict rules regarding vehicle emissions. Example: In 2022, a German sports car maker incorporated the connecting rod bolts highly developed to uphold EU efficiency standardization.

 

Currently, the Asia-Pacific region leads the market due to the growing rate of urbanization, increased automotive output, and states' promotion of domestic production. Example: In 2023, a Japanese car maker collaborated with a domestic parts maker to produce high-tensile-strength connecting rod bolts for hybrid vehicle engines.

 

Key Players

• ARP (Automotive Racing Products)
• SPS Technologies, LLC
• Mahle GmbH
• Bulten AB
• Stanley Black & Decker, Inc.
• Kamax Holding GmbH & Co. KG
• Fontana Gruppo
• Nippon Steel Corporation
• EJOT Holding GmbH & Co. KG
• Continental AG

 

Future Outlook

The global automotive connecting rod bolts market is poised for dynamic growth due to material innovations, growing automotive production, and demand for lightweight solutions. Asia-Pacific and Latin American markets will continue to be influential, backed up by government involvement and the growth in automotive production locations.

 

Market players targeting sustainable manufacturing, low-cost production, and additional developments in ultra-high-performance steel are expected to experience improved competitiveness. By the year 2030, steel will continue to play a significant role in producing engine components that meet the new emerging industry trends in terms of performance, efficiency, and reliability.