The global demand for Automotive Balance Shaft Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
Balance shafts in automobiles help reduce vibration and harshness while ensuring passenger comfort. An automotive balancing shaft is installed in an internal combustion engine (ICE) to cancel out imbalanced dynamic forces, hence reducing vibration. It has eccentric weights that prevent the engine components from becoming unbalanced while assuring smooth operation. As a result of its compact size and good inherent dampening, forged balance shafts are becoming increasingly prevalent worldwide. Automotive Balance shafts are being incorporated into vehicles by original automotive equipment manufacturers to minimize or eliminate engine noise, vibration, and harshness.
Market Dynamics
Increased passenger car sales due to increased urbanization and rising income levels are key factors driving industry expansion. The increased use of commercial vehicles in transportation and logistics, such as buses, trucks, taxicabs, trailers, and vans, favorably influences the industry. Furthermore, the growing popularity of online shopping, combined with the growth of worldwide trade, is driving commercial trucks in logistics for shipments. This, in turn, contributes to market expansion. Furthermore, the expanding working population necessitates the development of integrated mobility solutions that reduce traffic congestion and commute times while also providing various travel options. This presents producers with profitable chances to extend their product portfolio while maintaining a competitive advantage in the market. Furthermore, strict restrictions enacted by government agencies in several nations to reduce greenhouse gas (GHG) emissions from vehicles are propelling market expansion.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of automotive balance shaft. The growth and trends of automotive balance shaft industry provide a holistic approach to this study.
Market Segmentation
This section of the automotive balance shaft market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Engine Type
- Inline 3-Cylinder Engine
- Inline 4-Cylinder Engine
- Inline 5-Cylinder Engine
- V6 Engine
By Manufacturing Process
By Application
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Sales Channel
- Original Equipment Manufacturer
- Aftermarket
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Automotive Balance Shaft market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Automotive Balance Shaft Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the automotive balance shaft market include American Axle & Manufacturing, Inc., Engine Power Components, Inc., Hirschvogel Group, Linamar Corporation, MAT Foundry Group Ltd., Musashi Seimitsu Industry Co., Ltd., Ningbo Jingda Hardware Manufacturing Co., Ltd., Otics Corporation, Sansera Engineering Limited, and TFO Corporation. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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