Insights on the Automotive Balance Shaft Global Market to 2027 – by Vehicle Type, Manufacturing Process, Engine Type and Region – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Automotive Balance Shaft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global automotive balance shaft market reached a value of US$ 13.5 billion in 2021. Looking forward, the market is projected to reach US$ 18.8 billion by 2027, exhibiting at a CAGR of 5.55% during 2022-2027.
Companies Mentioned
- AB SKF
- American Axle & Manufacturing Inc.
- Engine Power Components Inc.
- Hirschvogel Automotive Group
- MarkLines Co. Ltd.
- Musashi Seimitsu Industry Co. Ltd.
- Ningbo Jingda Hardware Manufacture Co. Ltd.
- OTICS USA Inc. (OTICS Corporation)
- Sansera Engineering Limited
- SHW AG
- TFO Corporation
Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
An automotive balance shaft is fitted into an internal combustion engine (ICE) to reduce vibration by canceling unbalanced dynamic forces. It has eccentric weights that eliminate the need to balance the engine components while ensuring smooth operations. Nowadays, forged balance shafts are gaining adoption around the world on account of their compact dimension and effective inherent damping.
The boosting sales of passenger vehicles worldwide on account of rapid urbanization and inflating income levels represent one of the major factors bolstering the market growth. Automotive balance shafts help reduce engine noise, vibration, and harshness and ensure passenger comfort.
Apart from this, the rising use of commercial vehicles, such as buses, trucks, taxicabs, trailers, and vans, in transportation and logistics is influencing the market positively. Moreover, the emerging trend of online shopping, along with the expanding global trade, is propelling the utilization of commercial vehicles in logistics for shipments.
This, in turn, is contributing to the market growth. Additionally, the growing working population is driving the need for interconnected mobility solutions that reduce road traffic and commute times and provide diverse travel options. This is offering lucrative opportunities to manufacturers for expanding their product portfolio and retaining a competitive edge in the market.
Furthermore, stringent policies implemented by governing agencies of numerous countries to minimize greenhouse gas (GHG) emissions from vehicles are impelling the market growth. This is also encouraging automotive original equipment manufacturers (OEMs) to incorporate balance shafts and improve fuel efficiency, thermal efficiency, and energy savings of vehicles. Besides this, market players are focusing on improving the design and efficiency of balance shafts, which is anticipated to stimulate the market growth.
Key Questions Answered in This Report
- How has the global automotive balance shaft market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global automotive balance shaft market?
- What are the key regional markets?
- What is the breakup of the market based on the vehicle type?
- What is the breakup of the market based on the manufacturing process?
- What is the breakup of the market based on the engine type?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global automotive balance shaft market and who are the key players?
- What is the degree of competition in the industry?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Automotive Balance Shaft Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Vehicle Type
7 Market Breakup by Manufacturing Process
8 Market Breakup by Engine Type
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/4kd1i4
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