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Global Balance Shaft Market: By Engine Type; By Manufacturing Process: Forged Balance Shaft, Cast Balance Shaft; By Vehicle Type: Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Balance Shaft Market Outlook
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.
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Increasing Demand for Inline- 4 Cylinder (L4) Engine to Bolster the Growth of the Balance Shaft Industry
Based on engine type, the inline- 4 cylinder (L4) engine is likely to account for a significant share in the market, owing to its lightweight and compact size, which allows it to easily fit in nearly any engine bay. The vehicles with an inline-4 cylinder engine tend to have an equal power distribution, which optimises the overall performance of the vehicle. This is aiding the growth of the segment. Meanwhile, the inline-3 cylinder (L3) engine is likely to occupy a considerable share in the market over the forecast period. This can be attributed to its fuel efficiency. The inline-3 cylinder (L3) engine consumes lesser amount of fuel in running the engine.
The Asia Pacific Accounts for a Significant Share in the Market
The growing automotive industry in emerging countries like India and China is aiding the growth of the balance shaft industry in the Asia Pacific. The growing demand for automobiles, owing to the rising disposable income and growing population, is expected to further aid the market growth in the region The leading automotive manufacturers are establishing their facilities across the emerging markets in a bid to capitalise upon the immense growth possibilities present in the region.
With the outbreak of the COVID-19 pandemic, the market growth was hampered due to a decline in sales of automobiles across the world and the closure of manufacturing facilities. However, the demand for automobiles is expected to rebound in the forecast period, which, in turn, is expected to contribute to the growth of the market.
Balance Shaft: Market Segmentation
Balance shaft refers to a component of a vehicle, which is designed in a way that it reduces the vibration produced by an engine. These are used in the piston engines in order to cancel out the unbalanced dynamic forces.
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Based on engine type, the market is divided into:
- Inline-3 Cylinder (L3) Engine
- Inline- 4 Cylinder (L4) Engine
- Inline- 5 Cylinder Engine
- V-6 Engine
On the basis of manufacturing process, the industry is segmented into:
- Forged Balance Shaft
- Cast Balance Shaft
The significant vehicle types of the product include:
- Passenger Cars
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Thriving Automobiles Industry to Boost the Growth of the Balance Shaft Industry
The global balance shift market is driven by the thriving automotive industry. The rising demand for passenger cars and light commercial vehicles is one of the major factors propelling the market growth. Over the forecast period, the increasing demand for commercial vehicles due to the growth of sectors like e-commerce and others is likely to generate a heavy demand for fuel efficient automobiles. Furthermore, the market is anticipated to be aided by the steps taken by the governments in emerging economies to support the use of fuel-efficient vehicles and curb noise pollution. This factor is anticipated to catalyse the demand for balance shafts. However, the rising demand for electric vehicles may hamper the growth of the industry.
Key Industry Players in the Global Balance Shaft Market
The report gives a detailed analysis of the following key players in the global balance shaft market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- MAT Foundry Group Ltd.
- SAC Engine Components Pvt. Ltd
- Musashi Seimitsu Industry Co., Ltd.
- Ningbo Jingda Hardware Manufacture Co., Ltd
- Otics Corporation
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2020 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Engine Type, Manufacturing Process, Vehicle Type, Regions |
| Breakup by Engine Type | Inline-3 Cylinder (L3) Engine, Inline- 4 Cylinder (L4) Engine, Inline- 5 Cylinder Engine, V-6 Engine |
| Breakup by Manufacturing Process | Forged Balance Shaft, Cast Balance Shaft |
| Breakup by Vehicle Type | Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle, Others |
| Breakup by Regions | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles-Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | MAT Foundry Group Ltd., SAC Engine Components Pvt. Ltd, Musashi Seimitsu Industry Co., Ltd. , Ningbo Jingda Hardware Manufacture Co., Ltd, Otics Corporation, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Balance Shaft Market Analysis
8.1 Key Industry Highlights
8.2 Global Balance Shaft Historical Market (2017-2021)
8.3 Global Balance Shaft Market Forecast (2022-2027)
8.4 Global Balance Shaft Market by Engine Type
8.4.1 Inline-3 Cylinder (L3) Engine
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Inline- 4 Cylinder (L4) Engine
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.3 Inline- 5 Cylinder Engine
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
8.4.4 V-6 Engine
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2017-2021)
8.4.4.3 Forecast Trend (2022-2027)
8.5 Global Balance Shaft Market by Manufacturing Process
8.5.1 Forged Balance Shaft
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Cast Balance Shaft
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.6 Global Balance Shaft Market by Vehicle Type
8.6.1 Passenger Cars
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2017-2021)
8.6.1.3 Forecast Trend (2022-2027)
8.6.2 Light Commercial Vehicle
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2021)
8.6.2.3 Forecast Trend (2022-2027)
8.6.3 Heavy Commercial Vehicle
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2017-2021)
8.6.3.3 Forecast Trend (2022-2027)
8.6.4 Others
8.7 Global Balance Shaft Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 MAT Foundry Group Ltd.
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 SAC Engine Components Pvt. Ltd
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Musashi Seimitsu Industry Co., Ltd.
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Ningbo Jingda Hardware Manufacture Co., Ltd
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Otics Corporation
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Balance Shaft Market: Key Industry Highlights, 2016 and 2026
2. Global Balance Shaft Historical Market: Breakup by Engine Type (USD MillionBillion), 2017-2021
3. Global Balance Shaft Market Forecast: Breakup by Engine Type (USD MillionBillion), 2022-2027
4. Global Balance Shaft Historical Market: Breakup by Manufacturing Process (USD MillionBillion), 2017-2021
5. Global Balance Shaft Market Forecast: Breakup by Manufacturing Process (USD MillionBillion), 2022-2027
6. Global Balance Shaft Historical Market: Breakup by Vehicle Type (USD MillionBillion), 2017-2021
7. Global Balance Shaft Market Forecast: Breakup by Vehicle Type (USD MillionBillion), 2022-2027
8. Global Balance Shaft Historical Market: Breakup by Region (USD MillionBillion), 2017-2021
9. Global Balance Shaft Market Forecast: Breakup by Region (USD MillionBillion), 2022-2027
10. North America Balance Shaft Historical Market: Breakup by Country (USD MillionBillion), 2017-2021
11. North America Balance Shaft Market Forecast: Breakup by Country (USD MillionBillion), 2022-2027
12. Europe Balance Shaft Historical Market: Breakup by Country (USD MillionBillion), 2017-2021
13. Europe Balance Shaft Market Forecast: Breakup by Country (USD MillionBillion), 2022-2027
14. Asia Pacific Balance Shaft Historical Market: Breakup by Country (USD MillionBillion), 2017-2021
15. Asia Pacific Balance Shaft Market Forecast: Breakup by Country (USD MillionBillion), 2022-2027
16. Latin America Balance Shaft Historical Market: Breakup by Country (USD MillionBillion), 2017-2021
17. Latin America Balance Shaft Market Forecast: Breakup by Country (USD MillionBillion), 2022-2027
18. Middle East and Africa Balance Shaft Historical Market: Breakup by Country (USD MillionBillion), 2017-2021
19. Middle East and Africa Balance Shaft Market Forecast: Breakup by Country (USD MillionBillion), 2022-2027
20. Global Balance Shaft Market Structure
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