Global Automotive Balance Shaft Market, By Manufacturing Process (Forge, Cast), Engine Type (Inline-3 Cylinder Engine, Inline-4 Cylinder Engine, Inline-5 Cylinder Engine, V6 Engine), Vehicle Type (Passenger Cars, Light Commercial Vehicles, High Commercial Vehicles), Sales Channel (OEM, Aftermarket), End User (Commercial, Industrial, Defence, Others) – Industry Trends and Forecast to 2029.
Automotive Balance Shaft Market Analysis and Size
The increasing sales of passenger vehicles globally on account of inflating income levels and rapid urbanization represent one of the major factors bolstering the market's growth. Automotive balance shafts help decrease engine harshness, noise, vibration and ensure the comfort of passenger Apart from this, the increasing use of commercial vehicles also influencing the market positively. Moreover, the growing working population is driving the need for interconnected mobility solutions which decrease the road traffic, provide diverse travel options and commute times. These factors offer lucrative opportunities to the manufacturers to retain a competitive edge and increase their product portfolio in the market.
Data Bridge Market Research analyses that the automotive balance shaft market was valued at USD 13.50 billion in 2021 and is expected to reach 20.96 billion by 2029, registering a CAGR of 5.65% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Automotive Balance Shaft Market Scope and Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2022 to 2029
|
|
Base Year
|
2021
|
|
Historic Years
|
2020 (Customizable to 2014 - 2019)
|
|
Quantitative Units
|
Revenue in USD Billion, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Manufacturing Process (Forge, Cast), Engine Type (Inline-3 Cylinder Engine, Inline-4 Cylinder Engine, Inline-5 Cylinder Engine, V6 Engine), Vehicle Type (Passenger Cars, Light Commercial Vehicles, High Commercial Vehicles), Sales Channel (OEM, Aftermarket), End User (Commercial, Industrial, Defence, Others)
|
|
Countries Covered
|
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
|
|
Market Players Covered
|
GKN PLC (U.K.), ACPT Inc. (U.S.), American Axle & Manufacturing Inc. (U.S.), Yamada Manufacturing Co. Ltd. (Japan), Trelleborg AB (publ) (Sweden), NTN Corporation (Japan), The Timken Company (U.S.), Bailey Morris (U.K.), Fortune-Cross (Thailand) Co., Ltd. (Thailand), HYUNDAI WIA CORP. (South Korea), JTEKT Corporation (Japan), Meritor, Inc. (U.S.), Mohit Engineers Pvt. Ltd 9India), Nexteer (U.S.), shanghai gkn huayu driveline systems co. ltd (China), SHOWA CORPORATION (Japan), Wanxiang America Corporation (China), Xuchang Yuangdong Driveshaft Co., Ltd (China)
|
|
Market Opportunities
|
|
Market Definition
Automotive balance shaft is a weighted shaft which has used for balancing the vibrations in vehicle engine. This system involves two shafts having equal weights and rotating in opposite direction to each other, producing a net vertical force. The centrifugal forces produced by shafts cancel out the vertical second-order forces which has generated by engine. Automotive balance shafts are mainly used in piston engines to decrease vibration by cancelling out the unautomotive balanced dynamic forces.
Automotive Balance Shaft Market Dynamics
Drivers
- Increasing need for vehicle engines for reducing harshness, vibration and noise
Vehicle harshness, noise and vibration significantly affect the driving experience and vehicle performance. Many manufacturers of automobiles are consistently looking for the methods to reduce the harshness, noise and vibration in engines. Automotive balance shafts help reduce harshness, noise and vibration in the vehicle engine as it removes out the vertical second-order forces generated by the engine, though improving the performance and comfort of automobiles. Many automotive manufacturers of automotive balance shaft provide innovative solutions to increase the features of the automotive balance shaft to provide lower emissions, enhanced fuel economy and minimized vibrations and noise.
- Rising use of commercial vehicles
The increase in the use of commercial vehicles, such as trailers, buses, trucks, taxicabs and vans, in logistics and transportation is influencing the growth of the market positively. Furthermore, the developing trend of online shopping, along with the increasing global trade, is driving the use of commercial vehicles in logistics for shipments which are expected to enhance the demand of the automotive balance shaft in the market.
- Growing demand of inline 4-cylinder engines
Inline 4-cylinder engines are now a common engine configuration in automobiles. Many vehicles use inline 4-cylinder engines because it enhances engine affordability and fuel economy. However, these engines have second-order vibration which cannot be removed because of asymmetrical movement of connecting rods throughout the crankshaft rotation. These shafts are commonly used in inline 4-cyline engines to decrease these vibrations. Henceforth, a rise in demand for inline 4-cylinder engines is projected to upsurge the demand for the automotive balance shafts, which drives the market's growth.
Opportunities
- Rising the demand for eco-friendly automotive balance shaft
Furthermore, stringent policies which has implemented by governing authorities of many countries to reduce the emission of greenhouse gas (GHG) emissions from vehicles will create immense opportunities for the market growth. This is also encouraging the manufacturers of automotive original equipment to improve fuel efficiency, thermal efficiency, incorporate balance shafts and energy savings of vehicles. Besides this, major market players are focusing on improving the efficiency and design of balance shafts, which is also create beneficial opportunities for the growth of the automotive balance shaft market globally in upcoming years.
Furthermore, the rising demand of the vehicle along with introduction of enhanced automotive balance shafts and increasing applications from emerging countries will further bring lucrative opportunities and will lead to the growth of the automotive balance shaft market in the abovementioned forecast period.
Restraints/ Challenges
- High cost associated with automotive balance shaft
Volatility in the prices of raw materials used to manufacture the automotive balance shafts in high-volume markets and the high cost of replacement will act as market restraint and obstruct the market's growth rate.
- Complex installation
One major factor hindering the growth of the automotive balance shaft market is the complex installation and reinstallation process. Furthermore, once the system will damaged than it cannot be repaired, it has to be replaced completely. Which is also restrain the growth of the market.
Also, increasing preference towards the use of electric vehicle will obstruct the growth of the automotive balance shaft market in the above mentioned period.
This automotive balance shaft market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive balance shaft market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Automotive Balance Shaft Market
The outbreak of covid-19 has affected almost all small and medium enterprises (SMEs) in the auto parts industry such as automotive balance shaft which are expected to take a huge blow related to the developments in the current fiscal year. The coronavirus pandemic has resulted vast decline in revenue and profits in the manufacturing industries across the globe. The pandemic is expected to impact the demand and supply chain of the automotive balance shaft. The pandemic may force the companies to accelerate the investment in factory automation when the global economy eventually rebounds, but that is anticipated to take a while
Global Automotive Balance Shaft Market Scope
The automotive balance shaft market is segmented on the basis of manufacturing process, engine type, vehicle type, sales channel and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Manufacturing Process
- Forge
- Cast
Engine Type
- Inline-3 Cylinder Engine
- Inline-4 Cylinder Engine
- Inline-5 Cylinder Engine
- V6 Engine
Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- High Commercial Vehicles
Sales Channel
- OEM
- Aftermarket
End User
- Commercial
- Industrial
- Defence
- Others
Automotive Balance Shaft Market Regional Analysis/Insights
The automotive balance shaft market is analysed and market size insights and trends are provided by country, manufacturing process, engine type, vehicle type, sales channel and end user as referenced above.
The countries covered in the automotive balance shaft market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.
Asia-Pacific dominates the automotive balance shaft market in terms of revenue and market share. This is due to due to the growth of the automotive sector along with changing preferences of the consumer and adoption of stringent government emission norms in this region
Europe is expected to be the fastest developing regions during the forecast period of 2022-2029 due to the favourable government policies, presence of developed automobile infrastructure and leading OEMs in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Balance Shaft Market Share Analysis
The automotive balance shaft market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive balance shaft market.
Some of the major players operating in the automotive balance shaft market are:
- GKN PLC (U.K.)
- ACPT Inc. (U.S.)
- American Axle & Manufacturing Inc. (U.S.)
- Yamada Manufacturing Co. Ltd. (Japan)
- Trelleborg AB (publ) (Sweden)
- NTN Corporation (Japan)
- The Timken Company (U.S.)
- Bailey Morris (U.K.)
- Fortune-Cross (Thailand) Co., Ltd. (Thailand)
- HYUNDAI WIA CORP. (South Korea)
- JTEKT Corporation (Japan)
- Meritor, Inc. (U.S.)
- Mohit Engineers Pvt. Ltd (India)
- Nexteer (U.S.)
- Shanghai gkn huayu driveline systems co. ltd (China)
- SHOWA CORPORATION (Japan)
- Wanxiang America Corporation (China)
- Xuchang Yuangdong Driveshaft Co., Ltd (China)
SKU-