DUBLIN--(BUSINESS WIRE)--The "Automotive Balance Shaft Market by Engine Type, Manufacturing Process, Application, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

According to this report the global automotive balance shaft market was valued at $10,489.0 million in 2020, and is projected to reach $16,691.3 million by 2030, registering a CAGR of 4.9% from 2021 to 2030.

Balance shaft is a mechanical part of a vehicle's engine that reduces vibrations by cancelling out unbalanced dynamic forces. It is used to offset vibrations in engine designs, which are not inherently balanced. It assists in achieving vehicular weight optimization and superior fuel efficiency. Use of automotive balance shaft in a vehicle provides low specific fuel consumption, high thermal efficiency, energy savings, and improved passenger comfort while reducing engine noise, vibration, and harshness.

Balance shaft can be manufactured using forging or casting technique. In forging process, material is shaped with power hammers, presses, or special forging machines or with the application of localized compressive forces exerted manually. The forged components have good strength and toughness; hence, they can be used reliably for highly stressed and critical applications. In casting process, metal is heated until molten and then molten or liquid state is poured into a mold or vessel to create a balance shaft. Casting process is used in wide range of components that are too large, complicated, intricate, or otherwise unsuitable for the forging process.

Increase in demand for inline 4-cylinder engines, surge in adoption of fuel efficient vehicles with low carbon emission, and rise in need for vehicle engines with reduced noise, vibration, and harshness are the factors that drive the growth of the market. However, increase in adoption of electric vehicles and rise in sales of luxury vehicles and sports utility vehicles with high-performance engines are the factors that hinder the growth of the market. Surge in demand for passenger cars from emerging nations and technological advancements are the factors that accelerate the growth of this market.

The automotive balance shaft market is segmented on the basis of engine type, manufacturing process, application, sales channel, and region. Inline 3-cylinder engine, inline 4-cylinder engine, inline 5-cylinder engine, and V6 engine are the various types of engines covered in this study. It provides particulars about different manufacturing processes such as forging and casting. The application segment included in the report covers passenger cars, light commercial vehicles, and heavy commercial vehicles. Moreover, it summarizes the details about revenue generated across regions such as North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits

  • This study presents the analytical depiction of the global automotive balance shaft market analysis along with the current trends and future estimations to depict imminent investment pockets
  • The overall automotive balance shaft market opportunity is determined by understanding profitable trends to gain a stronger foothold
  • The report presents information related to the key drivers, restraints, and opportunities of the global automotive balance shaft market with a detailed impact analysis
  • The current automotive balance shaft market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency
  • Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry

Market Dynamics

Drivers

  • Increase in Demand for Inline 4-Cylinder Engines
  • Surge in Adoption of Fuel Efficient Vehicles With Low Carbon Emission
  • Rise in Need for Vehicle Engines With Reduced Noise, Vibration, and Harshness

Restraints

  • Surge in Adoption of Electric Vehicles
  • Rise in Sale of Luxury Vehicles & Sports Utility Vehicles With High-Performance Engines

Opportunities

  • Increase in Demand for Passenger Vehicles from Emerging Nations
  • Technological Advancements

Key Market Segments

By Engine Type

  • Inline 3-cylinder Engine
  • Inline 4-cylinder Engine
  • Inline 5-cylinder Engine
  • V6 Engine

By Manufacturing Process

  • Forging
  • Casting

By Application

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

By Sales Channel

  • Original Equipment Manufacturer
  • Aftermarket

By Region

  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • UK
  • Germany
  • France
  • Russia
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

Key Players

  • American Axle & Manufacturing, Inc
  • Engine Power Components, Inc
  • Hirschvogel Group
  • Linamar Corporation
  • MAT Foundry Group Ltd
  • Musashi Seimitsu Industry Co, Ltd
  • Ningbo Jingda Hardware Manufacture Co, Ltd
  • Otics Corporation
  • Sansera Engineering Limited
  • TFO Corporation

For more information about this report visit https://www.researchandmarkets.com/r/3khx7v

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