Global Balance Shaft Market was valued US$ xx Million and expected to reach US$ XX Million by 2027 at a CAGR of xx% during the forecast period.
An internal combustion engine with swept volumes of 2 liters and more inherently generates vibrations that can potentially damage the bearing, cylinder, and components in the power unit. Therefore, balance shafts are connected to the crankshafts to cancel out the harmonics. Balance shafts are connected to 3 inline cylinders, 4 inline cylinders, 6 inline cylinders, V-6 internal combustion engines.
The report covers an in-depth analysis of COVID 19 pandemic impact on Global Balance Market by region and on the key players’ revenue affected till July 2020 and expected short term and long-term impact on the market.
Global Balance Shaft Market
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Global Balance Shaft Market Dynamics
The increase in demand from the developing economies in the Asia Pacific, South America and Middle East & Africa for passenger vehicles and light commercial vehicles are the major driving factors for the growth in the global balance shaft market. The demand for noise reduction along with increased engine displacement volumes has necessitated manufacturers around the world to integrate balance shafts into automobiles. In addition to noise reduction, the balance shaft also assists the manufacturers in meeting the regulatory emissions standards by improving the fuel economy. For instance, the European emissions standard for 2020-2021 in the passenger vehicle segment is 95 g CO2/km, and fuel economy of 4.1 liter/100 km of petrol or 3.6 liters/100 km of diesel. European emissions standards are considered the most stringent regulations in automotive industry. European Union is a dwelling place for major automotive players and in an effort to meet the EU emissions standards, major manufacturers are actively installing the balance shaft in the passenger vehicles and light commercial vehicles.
The advent of autonomous and electric vehicles with intelligent-sensor controlled motors that do not require an internal combustion engine has been the restricting factor for the growth in the global balance shaft market. The absence of an internal combustion engine reduces the occurrence of the harmonics and consequently nullifies the need for a balance shaft in the automobile. According to the International Energy Agency, electric car sales in 2019 were 2.1 million units which was 2.6% of global car sales. The market share of an electric cars is expected to grow in the future nevertheless the development is dependent on the infrastructure and innovations relevant to the sector.
Development of the balance shaft for the hybrid vehicles can be an opportunity for the manufacturers in the global balance shaft market.
Similarly, global balance shaft market drivers and restraints are covered in the MMR report by region since each region has different market dynamics. Demand drivers and restraints are covered in a separate chapter by keeping the user’s convenience in mind. Drivers are divided by demand-side drivers and supply side.
Global Balance Shaft Market Segment Analysis
The forged balance shaft segment is expected to grow at a CAGR of xx% during the forecast period and expected to reach xx% million by 2027. By type of manufacturing method, forged balance shaft was the dominant segment in 2019, and is expected to register a CAGR of xx.xx% during the forecast period. Forged balance shafts have a minimum weight and superior stabilizing capabilities as compared to the cast balance shaft which influences the utilization volumes concerning passenger vehicles and light commercial vehicles.
Global Balance Shaft Market Regional Analysis
Global Balance Shaft Market1
Asia Pacific is anticipated to be the largest contributor to the global balance shaft market in terms of volume recording the CAGR of xx.xx% during the forecast period. Increasing demand from the countries like China, India, South Korea, Australia, and Japan for turbocharged inline 4 cylinder combustion engines are expected to be the contributing factor for the growth in the regional balance shaft market. Inflated prices of electric vehicles and the composition of the middle-income population segment in Asia pacific will affect the sales of electric vehicles retaining the sales of IC engine based vehicles. Improving regulatory emission standards is expected to be the driving force for the adoption of the balance shaft in the automotive. For example, China has implemented China's 6 emissions norms from January 2021.
Global Balance Shaft Market Competitive Landscape
The MMR reports cover key developments in the balance shaft market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product approvals product launches, and others. Inorganic growth strategies activities witnessed in the balance shaft market were mergers & acquisitions and collaborations & partnership.
The objective of the report is to present a comprehensive analysis of the Global balance shaft market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global industrial inkjet printers market dynamics, structure by analyzing the market segments, and projects the Global balance shaft Market size. Clear representation of competitive analysis of key players by price, financial position, growth strategies, and regional presence in the Global balance shaft Market make the report investor’s guide.
Scope of Global Balance shaft Market: Inquire before buying
Global Balance shaft Market, by vehicle type
• Passenger Cars
• Light Commercial Vehicles
• High Commercial Vehicles
Global Balance shaft Market, by engine type
• Inline-3 Cylinder Engine
• Inline-4 Cylinder Engine
• Inline-5 Cylinder Engine
• V6 Engine
Global Balance shaft Market, by manufacturing process
Global Balance shaft Market , by Region
• North America
• South America
• Middle East & Africa
Global Balance shaft Market Major Players
• American Axle & Manufacturing Holdings, Inc.
• Mitec-jebsen Automotive Systems (Dalian) Co Ltd
• Musashi Seimitsu Industry Co., Ltd.
• Ningbo Jingda Hardware Manufacture Co., Ltd.
• Otics Corporation
• Sansera Engineering Pvt. Ltd
• SHW AG,
• SKF Group AB
• Metaldyne LLC
• TFO Corporation
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