PUBLISHER: UnivDatos Market Insights Pvt Ltd | PRODUCT CODE: 1725939
PUBLISHER: UnivDatos Market Insights Pvt Ltd | PRODUCT CODE: 1725939
An automotive sprocket is a wheel with teeth or cogs that interconnect with a chain or a timing belt to enable the transmission of rotary motion in automobiles. It is very useful in transmitting power, especially in the timing belt of a vehicle's engine, and also in the drive shaft of motorcycles and four-wheelers. In two-wheelers, sprockets are crucial in the last stage of the transmission, where power from the engine is delivered to the rear wheel through the chain system. These are produced using high tensile material such as steel or alloy, and their design is aimed at withstanding high stress, wear, and tough operating environments.
The automotive sprocket market is set to show a growth rate of about 5.1% during the forecast period (2025-2033F). The automotive sprocket market is rising with significant growth in the production of two-wheelers and internal combustion engines all over the world, especially in the regions of India and Southeast Asia. The growth of per capita income, urbanization, and the need for energy-efficient personal transportation are contributing to the growth in the demand for two-wheelers. Additionally, the increasing number of vehicles and the replacement need for sprockets in the aftermarket segment are boosting market growth. Technological innovations in the lightweight sprockets, noiseless sprockets, development of hybrid electric two-wheelers, and a shift toward electric bikes also contribute to the growth of the sprockets market.
Based on product type, the market is segmented into timing sprockets, roller chain sprockets, silent chain sprockets, and others. Among these, the timing sprockets market has the largest market share because of their importance in internal combustion engine (ICE) vehicles, including the synchronization of the camshaft and crankshaft. These are common in almost all petrol and diesel vehicles, hence contributing to their dominating market share. However, silent chain sprockets are likely to grow at the fastest pace in the future as the demand for low-noise and dynamic transmission systems for hybrid and premium cars is likely to rise. Since performance, fuel efficiency, and low noise are the trends in auto manufacturing, silent chains are likely to find their application in more advanced vehicle platforms.
Based on the vehicle type category, the market is segmented into two-wheelers, passenger cars, light commercial vehicles, heavy commercial vehicles, electric vehicles (EVs) & hybrid vehicles. Based on the application of sprockets in different vehicle types, two-wheelers have the largest market share because currently, two-wheelers heavily use chains and sprockets for powering their vehicles. However, Electric Vehicles (EVs) & hybrid vehicles are anticipated to have higher growth rates in the future. The growing demand for advanced and silent chain sprockets in electric two-wheelers, hybrid cars, and electric cars is fueling the application of sprockets in EVs and hybrid vehicles.
Based on the sales channels, the global market is categorized into aftermarket and Original Equipment Manufacturer (OEM). Among these, the OEM sector will dominate the automotive sprocket market because sprockets are majorly used during vehicle manufacturing and are sold in bulk by manufacturers to the automakers. However, the aftermarket segment is likely to grow in the future years, as the current vehicles present on the road are aging. These vehicles need frequent replacement because of wear and tear, leading to increased demand for aftermarket services.
For a better understanding of the market adoption of automotive sprocket, the market is analyzed based on its worldwide application in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Among these, the North America region holds a significant market share due to the presence of key players within the region, as well as technological advancements in the automotive sector. However, the Asia-Pacific automotive sprocket market is moving forward due to the expanding automotive industry, rapid urbanization, and increasing disposable income, which is supporting the sales of two and four-wheelers.
Some major players running in the market include Tsubakimoto Chain Co., Schaeffler Group, Hind Gear Industries, Progressive Steel Automotive Solution Pvt Ltd., IWIS, Regal Rexnord Corporation, Supersprox, JT Sprockets, Sunstar Braking, and Wippermann jr. GmbH.