Automotive Balance Shaft Market 2024-2028: Size and Smart mobility solutions leading to decline in car ownership; growth driven by the Application, Some of key Companies Positioned Strategically

The automotive balance shaft market size by Application (In-line 4-cylinder engine, In-line 3-cylinder engine, and Others) and Geography (APAC, Europe, North America, South America, and Middle East and Africa), is forecast to increase by USD 2869 million. The market is expected to grow at a CAGR of  almost 7.15% between 2024 and 2028.

• The global automotive sector is undergoing significant transformation, with emerging trends such as car-sharing and pooling services disrupting traditional business models. Companies like Lyft Inc. and Uber Technologies Inc. are spearheading this shift towards on-demand mobility services, experiencing exponential growth and expanding their reach on a global scale. By 2025, these data-driven services are projected to command a dominant position in the automotive industry, potentially reducing the need for individual car ownership on a massive scale. Currently, car-sharing and e-hailing services are in their introductory phase in the automotive market, marking a pivotal moment in the industry's evolution.
• The automotive balance shaft market is experiencing significant growth due to the increasing demand for smooth engine operation and reduced vibrations in modern vehicles. Manufacturers are focusing on developing advanced balance shaft systems to enhance fuel efficiency, reduce emissions, and improve overall vehicle performance. The market is expected to expand at a steady pace, driven by stringent regulations and consumer preferences for improved driving experience.

Access the full report to know who are the other key countries segment-wise forecast and historic data

Some of the Key Companies:

• American Axle and Manufacturing Holdings Inc.
• Engine Power Components Inc.
• Hirschvogel Holding GmbH
• J L AUTOPARTS PVT LTD
• Liaoning Borui Machinery Co. Ltd. 
• Linamar Corp.
• Marposs Spa
• MAT Foundry Group Ltd.
• Musashi Seimitsu Industry Co. Ltd.
• Ningbo Jingda Hardware Manufacture Co. Ltd.
• OTICS Co. Ltd.
• Precision Camshaft Ltd.
• SAC Engine Components Pvt. Ltd.
• Sansera Engineering Ltd.
• Schaeffler AG
• SHARPOWER
• AB SKF
• TFO Corp.

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