Automotive Balance Shaft Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

The automotive balance shaft market share is expected to increase by 35.53 million units from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 6.79%.

This automotive balance shaft market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive balance shaft market segmentation by application (in-line 4-cylinder engine, in-line 3-cylinder engine, and others) and geography (APAC, Europe, North America, South America, and MEA). The automotive balance shaft market report also offers information on several market vendors, including AB SKF, American Axle and Manufacturing Inc., Engine Power Components Inc., Jebsen & Co. Ltd., Linamar Corp., MAT Foundry Group Ltd., Musashi Seimitsu Industry Co. Ltd., Ningbo Jingda Hardware Manufacture Co. Ltd., Sansera Engineering Ltd., and SHW AG among others.

What will the Automotive Balance Shaft Market Size be During the Forecast Period?

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Automotive Balance Shaft Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The performance benefits associated with the use of balancer shafts in engines are notably driving the automotive balance shaft market growth, although factors such as the high cost associated with the replacement of balance shaft may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive balance shaft industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Balance Shaft Market Driver

Performance benefits associated with the use of balancer shafts in engines are one of the key drivers for the automotive balance shaft market growth. The balance shafts for automotive engine applications play an important role in determining the overall performance and efficiency of the in-line engine layout, and therefore such advantages have led to their increased penetration rate in such engines. In-line engine design configuration with 4 cylinders or 6 cylinders has inherent drawbacks in the form of second-order or secondary vibrations. The asymmetric engine design leads to high noise, vibration, and harness levels in running conditions, which hampers the driving dynamics of the vehicle and also leads to poor fuel efficiency. Hence, to avoid such unnecessary secondary forces, automakers make use of a balancer shaft that usually runs at twice the engine speed, thereby creating its own vertical force to cancel out the secondary vibrations or forces. Hence, balance shafts play an important role in providing smoother engine operation and also reduce the proportion of frictional losses. Thus, the benefits and advantages associated with the use of balancer shafts are driving the growth of the global automotive balance shaft market.

Key Automotive Balance Shaft Market Trend

The development of cam-less engine technology is one of the key drivers for the automotive balance shaft market growth. The camless engine design promises to be more efficient and durable than the conventional one. The valve operation is greatly optimized for the use of camless engine profiles as the system uses either a pneumatic, electrohydraulic or electromagnetic actuator for precision control of the valve. The cam-less design brings flexibility to the valve operation with adjustable valve opening and closing time, valve lift, and valve overlap, which was not possible with the traditional cam engine designs. According to engine experts, the camless engine profile is able to achieve 10%-15% higher fuel efficiency as compared with the conventional ones with reduced carbon emissions. Such advanced engine designs enable drivers to extract more performance and greater fuel efficiency from vehicles with limited potential. Automakers have been investing heavily in these technologies to make vehicles more energy efficient. The abovementioned advantages and benefits of camless engine profiles will drive the adoption of camless engines during the forecast period. This will be a challenge for the growth of the market in focus as camless engines do not require balance shafts.

Key Automotive Balance Shaft Market Challenge

The high cost associated with the replacement of the balance shaft is one of the key challenges for theautomotive balance shaft market growth. Balance shafts find greater use owing to their performance benefits in vehicles. However, there are certain drawbacks and disadvantages associated with balance shafts, which act as challenges to the growth of the market focus. Though balance shafts are important for the reduction of secondary forces, their additional weight increases the overall weight of the engine, thereby taking away a slight proportion of fuel efficiency benefits. In addition, the use of balance shafts leads to lower oil pressure, which slightly hinders the proper functioning of the engine. Moreover, balance shafts in the engine usually last for 50,000-60,000 miles on average under normal load conditions. This means they need replacement after wearing out, and the overall cost of complete replacement work can go up to $4,000-$5,000 depending upon the vehicle and job work required. The worn-out or damaged balance shaft may hamper the proper working of associated and adjacent components if the issue is not resolved early enough. This acts as a challenge to the growth of the market in focus.

This automotive balance shaft market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global automotive balance shaft market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive balance shaft market during the forecast period.

Who are the Major Automotive Balance Shaft Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• AB SKF
• American Axle and Manufacturing Inc.
• Engine Power Components Inc.
• Jebsen & Co. Ltd.
• Linamar Corp.
• MAT Foundry Group Ltd.
• Musashi Seimitsu Industry Co. Ltd.
• Ningbo Jingda Hardware Manufacture Co. Ltd.
• Sansera Engineering Ltd.
• SHW AG

 

This statistical study of the automotive balance shaft market encompasses successful business strategies deployed by the key vendors. The automotive balance shaft market is fragmented and the vendors are deploying growth strategies such as using new materials for manufacturing balance shafts to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive balance shaft market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automotive Balance Shaft Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automotive balance shaft market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the automotive components and accessories market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Automotive Balance Shaft Market?

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59% of the market's growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for automotive balance shafts in APAC. Market growth in this region will be faster than the growth of the market in Europe, MEA, and North America.

The growing adoption of passenger cars and CVs will facilitate the automotive balance shaft market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

As of April 30, 2021, the total number of COVID-19 cases reported in India, Indonesia, and Japan was around 18,762,976, 1,668,368, and 580,988, respectively. The Indian Government imposed a nationwide lockdown to prevent the community spread of COVID-19 from March to May 2020. Owing to the high mortality rate of COVID-19, various industries, including the automobile industry, closed or halted their operations in 2020. This impacted the growth of the automotive balance shaft market in the region in 2020 and 2021. However, operations in various industries are gradually resuming with limited capacity and by maintaining social distancing norms. This resumption of operations is expected to stabilize the market growth in the region during the forecast period.

What are the Revenue-generating Application Segments in the Automotive Balance Shaft Market?

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The automotive balance shaft market share growth by the in-line 4-cylinder engine segment will be significant during the forecast period. The high-volume sales of automobiles with 4-cylinder engine configuration in compact and mid-segment vehicles are driving the growth of automotive balance shafts in this segment. In addition, the increased offerings in the performance versions of the sedans with an in-line 4-cylinder engine with engine displacement falling between 1.6-liter and 3.0-liter are further driving the market growth.

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive balance shaft market size and actionable market insights on post COVID-19 impact on each segment.

 

Automotive Balance Shaft Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 6.79%
Market growth 2021-2025	35.53 million units
Market structure	Fragmented
YoY growth (%)	6.23
Regional analysis	APAC, Europe, North America, South America, and MEA
Performing market contribution	APAC at 59%
Key consumer countries	China, US, Japan, Germany, and South Korea (Republic of Korea)
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	AB SKF, American Axle and Manufacturing Inc., Engine Power Components Inc., Jebsen & Co. Ltd., Linamar Corp., MAT Foundry Group Ltd., Musashi Seimitsu Industry Co. Ltd., Ningbo Jingda Hardware Manufacture Co. Ltd., Sansera Engineering Ltd., and SHW AG
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Automotive Balance Shaft Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive automotive balance shaft market growth during the next five years
• Precise estimation of the automotive balance shaft market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the automotive balance shaft industry across APAC, Europe, North America, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of automotive balance shaft market vendors

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