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Expert Market Research Explores the Top 3 Companies in the Global Balance Shaft Market

Top 3 Companies in the Global Balance Shaft Market

 

MAT Foundry Group Ltd., SAC Engine Components Pvt. Ltd, Musashi Seimitsu Industry Co., Ltd., China Ningbo Jingda Hardware Manufacture Co., Ltd, and Otics Corporation, among others are the major players of the global balance shaft industry.

 

The global balance shaft market stood at a value of around USD 116 billion in 2020. The market is further expected to grow at a CAGR of 15% in the forecast period of 2022-2027.

The term ‘balance shaft’ refers to a vehicle component that is designed to reduce engine vibration. These are used in piston engines to adjust for unbalanced dynamic forces.

The Asia Pacific region holds a significant share of the market. The growing automotive industry in regions like, Indian Subcontinent and China, is aiding the growth of the industry in the Asia Pacific. Due to the rising disposable income and growing population, the increasing demand for automobiles is anticipated to further augment the market growth. The leading automotive manufacturers are establishing their facilities across the emerging markets to capitalise upon the immense growth possibilities in the area.

 

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With the outbreak of the COVID-19 across the globe, the growth in the market was hampered massively due to a decline in demand and supply of the automobiles industry across the world. However, the demand for cars is expected to rebound in the forecast period, which, in turn, is likely to contribute to the market's growth.

Some other factors that are expected to impact the global automotive balance shaft market during the forecast period are the rise in demand for the Inline-4-cylinder engine, low carbon emissions, and fuel efficiency. However, demand for an electric vehicle is expected to impede the growth of the automotive balance shaft market during the forecast period.

 

Top 3 Global Balance Shaft Companies:

MAT Foundry Group Ltd.

Establishment: 1984
Headquarters: Poole, England
Website: https://www.matfoundrygroup.com/

MAT Holdings, Inc. is a privately held, globally diversified manufacturing, marketing, and distribution company, providing quality products and trusted brands to two business categories - automotive and consumer. The automotive segment is further broken down into the MAT Foundry Group, which manufactures cast iron parts for automotive and industrial applications; the Friction Group, which supplies friction braking components; and Suspension Components Group which supplies suspension components and systems. The consumer segment provides fencing, lawn and garden accessories, air compressors, pneumatic air tools, and outdoor power equipment.

 

SAC Engine Components Pvt. Ltd

Establishment: 1986
Headquarters: Chennai, Tamil Nadu, India
Website: https://sacec.in/

SAC Engine Components Pvt. Ltd (formerly known as Southern Auto Castings) has marked its presence in the year 1986 for manufacture and supply of valve train IC Engine components to Automotive, truck, tractor, marine, power generation, industrial, and agricultural applications. For more than three decades SAC has maintained its unique position and a strong brand name in the industry for its Quality Management System.

 

China Ningbo Jingda Hardware Manufacture Co., Ltd

Establishment: 1994
Headquarters:  Ningbo, China
Website: http://www.jingdahardware.com/products.htm

China Ningbo Jingda Hardware Manufacture Co., Ltd., founded in 1994, is a medium size China manufacturer of precision machining and stamping metal parts, turning parts, machining parts, hardware parts, stamping metal parts, and custom products. It is located in Wuxiang Industrial Zone, which is about 10km to the urban area of Ningbo City.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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