Balance Shaft - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Balance Shaft Market is accounted for $9,978.4 million in 2017 and is expected to reach $20,215.6 million by 2026 growing at a CAGR of 8.2% during the forecast period. Some of the key factors influencing the market growth include rising demand for vehicles equipped with inline-4 cylinder engines, need for reduction in engine NvH levels and reduced co2 emissions. However, shifting focus towards electric vehicles is restraining market growth.
A balance shaft is designed to vibrate and rotate in such a way that it can reduce the vibration produced by an engine. Balance shafts are most commonly utilized in inline four-cylinder engines, which due to their design asymmetry, have an inherent second order vibration (vibrating at twice the engine RPM) that cannot be eliminated no matter how well the internal components are balanced.
Based on the manufacturing process type, Forged Balance Shaft has significant growth during the forecast period. Balance shafts can be forged from a steel bar, usually through roll forging. Forged balance shafts are widely adopted, due to their lightness, compact dimensions, and effective inherent damping.
By Geography, The Asia Pacific region has emerged as significant market for the global automotive industry. The primary reason behind this trend is the Chinese market, which has evolved into the largest producer and consumer of automobiles across the globe. Rising demand for the Inline-4 Cylinder Engine especially in the Asia-Pacific region has played a vital role in driving the balance shaft market.
Some of the key players in global balance shaft market are SKF Group, Musashi Seimitsu Industry Co., Ltd., Metaldyne LLC, Tfo Corporation, Ningbo Jingda Hardware Manufacture Co., Ltd., Sansera Engineering, SHW AG, Mitec-Jebsen Automotive Systems (Dalian) Co. Ltd., Engine Power Components, Inc. and Otics Corporation.
Manufacturing Process Types Covered:
• Cast Balance Shaft
• Forged Balance Shaft
Vehicle Types Covered:
• Heavy Commercial Vehicle
• Passenger Car
• Light Commercial Vehicle
Engine Types Covered:
• V-6 Engine
• Inline- 5 Cylinder Engine
• Inline- 4 Cylinder (L4) Engine
• Inline-3 Cylinder (L3) Engine
End Users Covered:
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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