Automotive Balance Shaft Market Explained: Where will be Market in 2023?

According to a recent report published by Allied Market Research, titled, Automotive Balance Shaft Market by Manufacturing Type, Engine Type, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global automotive balance shaft market was valued at $10,027 Million in 2016, and is projected to reach at $14,848 Million by 2023, growing at a CAGR of 5.5% from 2017 to 2023.

Access Full Summary at: http://bit.ly/2RJi2qy

Asia-Pacific dominates this market presently, followed by Europe. In 2016, China dominated the market in Asia-Pacific. Rise in demand for the Inline-4 Cylinder Engine especially in the Asia-Pacific region has played a vital role in driving the automobile balance shaft market. Further, the need for eco-friendly automobiles is on an increase owing to the strict government emission policies. However, demand for electric vehicle hampers the automotive balance shaft market to a greater extent. On the other hand, pressure over the manufacturers to integrate balance shafts in automobiles to provide engines with reduced vibration, noise, and vibration is projected to create greater opportunities.

In 2016, the Inline-4 cylinder engine dominated the global automotive balance shaft with 75.6% market share, in terms of revenue. Further, based on vehicle type, passenger cars lead the global market with 71.13% market share followed by light commercial vehicles (21.5%) in 2016.
Forging leads the automotive balance shaft market by manufacturing process with the 74% market share in 2016 and is anticipated to depict the highest CAGR of 5.7% throughout the forecast period.

Download Exclusive Summary @ http://bit.ly/2IPQ4Fk

Key Findings of the Automotive Balance Shaft Market:
In 2016, the forging manufacturing process generated the highest revenue of the global automotive balance shaft market.
In 2016, the Inline-4 cylinder generated the highest revenue among the engine type in the market.
The passenger cars segment led the automotive balance shaft market in 2016.
LAMEA is anticipated to exhibit a highest CAGR of 7.0% during the forecast period.
The key players profiled in the report American Axle & Manufacturing Holdings, Inc., LACO, Mitec-jebsen Automotive Systems (Dalian) Co Ltd, Musashi Seimitsu Industry Co., Ltd., Ningbo Jingda Hardware Manufacture Co., Ltd., Otics Corporation, Sansera Engineering Pvt. Ltd, SHW AG, SKF Group AB, and TFO Corporation.

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Shriram Dighe
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1⟨855⟩550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This release was published on openPR.