In an automotive engine, especially in engines with asymmetric design, the engine experiences a second level of vibration, even the well-balanced engines with asymmetric design experience the second level vibration. The automotive balance shaft is integrated with vehicle engines for offsetting the vibration effect that the engine creates. The balance shaft is a complex part that needs to design precisely, to make sure it’s compatible with the engine system.
The demand for automotive balance shafts is projected to be worth US$14.03 billion globally in 2022 and to increase at a CAGR of 6% to US$25 billion globally from 2022 to 2032. Increased demand for Balance Shaft, particularly in the automotive industry, is credited with growth.
Globally, the demand for automotive balance shaft is forecast to grow in the future as the demand for noise, vibration and harshness free engines is increasing.
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Automotive Balance Shaft Market: Drivers and Challenges
Globally, the demand for ‘Inline-4 Cylinder Engine’ is growing, especially in the Asia-Pacific. The demand for environmental friendly vehicles is on the rise, due to the stringent government emission regulations. Original equipment manufacturers of automotive are integrating balance shaft in the vehicles to offer vehicle engines with reduced/negligible noise, vibration and harshness. All the above factors are fueling the growth for global balance shaft market. Original equipment manufacturers are increasing using aluminum balance shafts for their weight and strength advantage.
The growing importance of electric vehicles and increasing sales of sports utility vehicles & luxury vehicles with high-performance engines are inhibiting the global balance shaft market growth.
Automotive Balance Shaft Market: Overview
The global automotive balance shaft market by volume is expected to expand at a CAGR of around 5-7% during the forecast period (2015-2025), due to increasing demand for vehicle with incline-4 cylinder engine, need to reduce noise, vibrations and harshness levels, etc.
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Automotive Balance Shaft Market: Key Players
Some of the key market participants in global balance shaft market are
- American Axle & Manufacturing Holdings, Inc.
- LACO, Mitec-jebsen Automotive Systems (Dalian) Co Ltd.
- Musashi Seimitsu Industry Co., Ltd.
- Ningbo Jingda Hardware Manufacture Co., Ltd.
- Otics Corporation
- Sansera Engineering
Automotive Balance Shaft Market: Segmentation
The global automotive balance shaft market can be segmented by manufacturing process, by engine type and by regions
Based on manufacturing process, the global automotive balance shaft market is segmented as
- Forged Balance Shaft
- Cast Balance Shaft
Based on Engine Type, the global automotive natural gas vehicle market is segmented as:
- Inline-3 Cylinder Engine
- Inline-4 Cylinder Engine
- Inline-5 Cylinder Engine
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Report Highlights:
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- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
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- Potential and niche segments, geographical regions exhibiting promising growth
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