Automotive Balance Shaft Market Size to grow by USD 2869 million between 2024-2028
According to a research report “ Automotive Balance Shaft Market” by Application (In-line 4-cylinder engine, In-line 3-cylinder engine, Others) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 2869 million, at a CAGR of almost 7.15% during the forecast period. In the automotive industry, advancements in engine technology require a heightened focus on components that ensure optimal performance, fuel efficiency, and emissions reduction. Modern engines, particularly smaller ones, are being developed to meet these demands. However, smaller engines often employ turbocharging to maintain power output, leading to increased mechanical stress and vibrations. To mitigate these issues, automotive balance shafts play a pivotal role. These components help reduce vibrations in smaller, turbocharged engines, thereby ensuring a smoother driving experience. Furthermore, engines with higher compression ratios, which can lead to improved fuel efficiency and power, also benefit from the use of automotive balance shafts.
Browse market data tables, figures, and in-depth TOC on “Automotive Balance Shaft Market” by Application (In-line 4-cylinder engine, In-line 3-cylinder engine, Others) Geography (APAC, Europe, North America, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Application, the In-line 4-cylinder engine segment is projected to dominate the market size in 2024
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By Geography, APAC segment is expected to hold the largest market size for the year 2024
The compact and mid-segment automotive market is experiencing significant growth in the sales of 4-cylinder engine configurations, particularly in-line 4-cylinder engines with displacements ranging from 1.6-liter to 3.0-liter. This trend is propelling the demand for automotive balance shafts in this segment. Notably, several automakers, including Alfa Romeo, Audi, BMW, and Hyundai, are expanding their offerings in this engine configuration. Schaeffler AG, a leading innovator in engine systems, is well-positioned to capitalize on this trend, providing advanced solutions for in-line 4-cylinder engines.
APAC is forecasted to hold the largest market size by region in 2024
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.
The Automotive Balance Shaft Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Automotive Balance Shaft Market is witnessing significant growth due to the increasing demand for fuel-efficient vehicles and growing climate concerns. The market is segmented by vehicle type, including passenger cars, sports utility vehicles, luxury vehicles, heavy commercial vehicles, and light commercial vehicles. The manufacturing process involves casting and sales channels include OEM and aftermarket. Emerging nations like LAMEA (Latin America, Middle East, and Africa) are expected to showcase high growth in the automotive balance shaft market due to the increasing demand for passenger cars and rising environmental concerns. The balance shaft system plays a crucial role in enhancing engine efficiency and reducing carbon emissions in both fuel-powered and electric vehicles. The customer experience of a smooth and quiet vehicle engine is a significant factor driving the demand for automotive balance shafts. The power generated by the balance shaft system contributes to the overall fuel efficiency of the vehicle, making it an essential component in fuel-efficient vehicles. The market for automotive balance shafts is expected to grow as the demand for luxury products and the shift towards electric vehicles continues to rise.
Market Research Overview
The Automotive Balance Shaft Market is witnessing significant impact analysis due to various factors including the ongoing pandemic, business confidence, and climate concerns. The lockdown and panic buying caused by COVID-19 led to a decrease in sales, particularly in the passenger cars, sports utility vehicles, and luxury vehicles segments. However, the demand for fuel-efficient vehicles, including flex fuel engine-based and electric vehicles, is expected to drive the market in the future. Investment pockets lie in emerging nations, where the manufacturing process for balance shaft systems is undergoing advancements, particularly in casting and the ACE matrix technology. The OEMs are focusing on improving vehicle performance, driving experience, noise reduction, and emissions control, making the balance shaft system an essential component. The future estimations suggest that the market will grow at a steady pace, with the heavy commercial and light commercial vehicle segments also contributing to the demand. The balance shaft system's role in engine efficiency, carbon emission reduction, and fuel efficiency makes it a crucial component in the automotive industry. The luxury products segment is also expected to witness significant growth due to the increasing customer experience demands. Centrifugal forces, eccentric weights, and inline 4-cylinder engines are the primary components of the balance shaft system, which helps in reducing vibrations and improving overall engine performance. The automotive balance shaft market is poised for growth, with the focus on environmental concerns and the need for more efficient and eco-friendly vehicles. The LAMEA region is expected to witness significant growth due to the increasing production of vehicles and the focus on fuel efficiency and emissions control.
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