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Automotive Balance Shaft Market To Expand Steadily Through 2030
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Key Takeaways from Automotive Balance Shaft Market Study
• Global automotive balance shaft market to expand steadily through 2030.
• Asia Pacific to register impressive growth, pivoted primarily by the Indian and Chinese automotive industries.
• Inline-4 cylinder engine-mounted automotive to register maximum balance shaft uptake.
• Growth of automotive balance shaft market may be impeded in light of surging popularity of electric vehicles.
• COVID-19 to usher in short-term deceleration in the public transport segment, owing to shortfalls in unit production.
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Automotive Balance Shaft Market - Competitive Landscape
The global automotive balance shaft market is characterized by the presence of prominent vendors who rely on an amalgamation of various expansion and market consolidation strategies such as product launches, acquisitions, and collaborations.
Prominent players profiled in PMR's report include Otics Corporation, SHW AG, Ningbo Jingba Hardware Manufacture Co. Ltd., Musashi Seimitsu Industry Co. Ltd., Metaldyne LLC (American Axle & Manufacturing), Sansera Engineering, and TFO Corporation, among others.
• In October 2020, Musashi Seimitsu Industry Co. Ltd. entered into a strategic alliance with Silicon Valley based Zimeno Inc. to develop compact autonomous EV tractors for agriculture. The objective is to provide solutions for addressing labor shortages and furthering crop safety.
• Likewise, since November 2020, Metaldyne LCC (American Axle & Manufacturing) started supplying its EcoTrac® Disconnecting All-Wheel-Drive (AWD) for Chrysler's new Pacifica minivan series. The system provides safety during hostile conditions such as cold temperatures, rough road conditions, and abrupt steering situations.
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