The Global Automotive Balance Shaft Market Size will Hit $13.2 Billion by 2027, at a CAGR of 4.1%

Published Date: 30-Apr-22

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Automotive Balance Shaft Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Automotive Balance Shaft Market size is expected to reach $13.2 Billion by 2027, rising at a market growth of 4.1% CAGR during the forecast period.

The Casting market has shown a growth rate of 5.8% during (2021 - 2027). Casting is a manufacturing method in which a liquid substance is poured into a mold with a hollow hole of the required shape and subsequently solidified. To complete the process, the solidified portion, also known as a casting, is broken out or ejected from the mold.

The Passenger Cars segment is leading the Global Automotive Balance Shaft Market by Application in 2020; thereby, achieving a market value of $6.0 billion by 2027. It is due to the rising demand for passenger vehicles from emerging nations, increased demand for fuel-efficient and high-performing automobiles, and stricter pollution rules.

The Aftermarket market is showcasing a CAGR of 4.9% during (2021 - 2027). The automotive aftermarket is the secondary market of the automotive industry, concerned with the manufacturing, remanufacturing, distribution, retailing, and installation of all vehicle parts, chemicals, equipment, and accessories, after the sale of the automobile by the original equipment manufacturer (OEM) to the consumer.

The Inline 4-cylinder Engine segment acquired the maximum revenue share in the Global Automotive Balance Shaft Market by Engine Type in 2020; thereby, achieving a market value of $6.1 billion by 2027. There has been a rise in demand for inline 4-cylinder engines due to their fuel efficiency and enhanced performance. Furthermore, inline 4-cylinder engines have second-order vibrations that can be mitigated with the use of a balance shaft, which will drive up the need for a balance shaft over the projected period.

Asia Pacific is the fastest growing region in the Global Automotive Balance Shaft Market by Region in 2020, and would achieve a market value of $4.9 billion by 2027. The Europe market is estimated to witness a CAGR of 3.4% during (2021 - 2027). Additionally, The North America market would exhibit a CAGR of 3.6% during (2021 - 2027).

Full Report:

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of American Axle & Manufacturing, Inc., Engine Power Components, Inc., Hirschvogel Group, Linamar Corporation, MAT Foundry Group Ltd., Musashi Seimitsu Industry Co., Ltd., Ningbo Jingda Hardware Manufacture Co., Ltd., Otics Corporation, Sansera Engineering Limited, and TFO Corporation.

Global Automotive Balance Shaft Market Segmentation

By Manufacturing Process

  • Forging
  • Casting

By Application

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

By Sales Channel

  • Original Equipment Manufacturer
  • Aftermarket

By Engine Type

  • Inline 4-cylinder Engine
  • Inline 3-cylinder Engine
  • Inline 5-cylinder Engine
  • V6 Engine

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • American Axle & Manufacturing, Inc.
  • Engine Power Components, Inc.
  • Hirschvogel Group
  • Linamar Corporation
  • MAT Foundry Group Ltd.
  • Musashi Seimitsu Industry Co., Ltd.
  • Ningbo Jingda Hardware Manufacture Co., Ltd.
  • Otics Corporation
  • Sansera Engineering Limited
  • TFO Corporation

Unique Offerings from KBV Research

  • Exhaustive coverage
  • The highest number of market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free

Related Reports:

North America Automotive Balance Shaft Market Future Scope & Opportunities 2021-2027

Europe Automotive Balance Shaft Market Size & Growth Forecast 2021-2027

Asia Pacific Automotive Balance Shaft Market Size, Share & Industry Outlook to 2027

LAMEA Automotive Balance Shaft Market Growth, Trends & Forecasts 2021-2027

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