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Global Balance Shaft Market Size, Share, Trends, Forecast: By Engine Type: Inline-3 Cylinder (L3) Engine, Inline- 4 Cylinder (L4) Engine, Inline- 5 Cylinder Engine, V-6 Engine; By Manufacturing Process: Forged Balance Shaft, Cast Balance Shaft; By Vehicle Type: Passenger Cars, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Balance Shaft Market Outlook
The global balance shaft market stood at a value of around USD 176.42 billion in 2023. The market is further expected to grow at a CAGR of 15% in the forecast period of 2024-2032.
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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.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Engine Type |
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| Breakup by Manufacturing Process |
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| Breakup by Vehicle Type |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| 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 Opportunities and Challenges in the Market
8 Global Balance Shaft Market Analysis
8.1 Key Industry Highlights
8.2 Global Balance Shaft Historical Market (2018-2023)
8.3 Global Balance Shaft Market Forecast (2024-2032)
8.4 Global Balance Shaft Market by Engine Type
8.4.1 Inline-3 Cylinder (L3) Engine
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Inline- 4 Cylinder (L4) Engine
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Inline- 5 Cylinder Engine
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 V-6 Engine
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.5 Global Balance Shaft Market by Manufacturing Process
8.5.1 Forged Balance Shaft
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Cast Balance Shaft
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Balance Shaft Market by Vehicle Type
8.6.1 Passenger Cars
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Light Commercial Vehicle
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Heavy Commercial Vehicle
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Others
8.7 Global Balance Shaft Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Balance Shaft Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Balance Shaft Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Balance Shaft Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Balance Shaft Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Balance Shaft Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 MAT Foundry Group Ltd.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 SAC Engine Components Pvt. Ltd
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Musashi Seimitsu Industry Co., Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Ningbo Jingda Hardware Manufacture Co., Ltd
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Otics Corporation
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Balance Shaft Market: Key Industry Highlights, 2018 and 2032
2. Global Balance Shaft Historical Market: Breakup by Engine Type (USD MillionBillion), 2018-2023
3. Global Balance Shaft Market Forecast: Breakup by Engine Type (USD MillionBillion), 2024-2032
4. Global Balance Shaft Historical Market: Breakup by Manufacturing Process (USD MillionBillion), 2018-2023
5. Global Balance Shaft Market Forecast: Breakup by Manufacturing Process (USD MillionBillion), 2024-2032
6. Global Balance Shaft Historical Market: Breakup by Vehicle Type (USD MillionBillion), 2018-2023
7. Global Balance Shaft Market Forecast: Breakup by Vehicle Type (USD MillionBillion), 2024-2032
8. Global Balance Shaft Historical Market: Breakup by Region (USD MillionBillion), 2018-2023
9. Global Balance Shaft Market Forecast: Breakup by Region (USD MillionBillion), 2024-2032
10. North America Balance Shaft Historical Market: Breakup by Country (USD MillionBillion), 2018-2023
11. North America Balance Shaft Market Forecast: Breakup by Country (USD MillionBillion), 2024-2032
12. Europe Balance Shaft Historical Market: Breakup by Country (USD MillionBillion), 2018-2023
13. Europe Balance Shaft Market Forecast: Breakup by Country (USD MillionBillion), 2024-2032
14. Asia Pacific Balance Shaft Historical Market: Breakup by Country (USD MillionBillion), 2018-2023
15. Asia Pacific Balance Shaft Market Forecast: Breakup by Country (USD MillionBillion), 2024-2032
16. Latin America Balance Shaft Historical Market: Breakup by Country (USD MillionBillion), 2018-2023
17. Latin America Balance Shaft Market Forecast: Breakup by Country (USD MillionBillion), 2024-2032
18. Middle East and Africa Balance Shaft Historical Market: Breakup by Country (USD MillionBillion), 2018-2023
19. Middle East and Africa Balance Shaft Market Forecast: Breakup by Country (USD MillionBillion), 2024-2032
20. Global Balance Shaft Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 15% between 2024 and 2032.
The major drivers of the market are rising demand for light commercial vehicles and passenger cars, growing automotive industry, and rising disposable incomes.
The key trends guiding the growth of the market include the rising demand for inline-4 cylinder engines, growing population, and initiatives launched by various governments.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant vehicle types in the market are passenger cars, light commercial vehicles, and heavy commercial vehicles, among others.
The various engine types in the market are inline-3 cylinder (L3) engine, inline-4 cylinder (L4) engine, inline-5 cylinder engine, and V-6 engine.
The primary manufacturing processes for balance shafts are forged balance shaft and cast balance shaft.
A balance shaft is a component of a vehicle that is designed to reduce the vibrations produced by an engine.
A balance shaft is used in a piston engine in order to cancel out the unbalanced dynamic forces.
The major players in the global balance shaft market are MAT Foundry Group Ltd., SAC Engine Components Pvt. Ltd, Musashi Seimitsu Industry Co., Ltd., Ningbo Jingda Hardware Manufacture Co., Ltd, and Otics Corporation, among others.
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