Future Forecast: Predictions for the Vehicle Balance Shaft Market Growing Trends and Technology Forecast to 2031 | ngine Power Components, Inc.

Vehicle balance shafts are used in inline engines to reduce vibration. They are connected to the crankshaft via gears or a chain and produce an inertial force counteracting the primary inertia forces developed by the pistons.

Market Dynamics:

The vehicle balance shaft market is expected to witness significant growth over the forecast period owing to rise in automotive production and stringent emission norms requiring low vibration engines. According to the International Organization of Motor Vehicle Manufacturers, global passenger car production is expected to reach over 95 million units by 2024. Furthermore, emission standards such as Euro 6 and BS-6 in developed economies mandate the use of balance shafts in engines to reduce vibrations and optimize fuel efficiency. Another driver a driver for market growth is the rising preference for high-performance engines requiring balance shafts to reduce vibrations.

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Increasing production of vehicles is a key driver for the Vehicle Balance Shaft Market

One of the major factors driving the growth of the vehicle balance shaft market is the increasing production and sales of passenger vehicles across the globe. With rising disposable incomes and improved living standards, consumers are now having more purchasing power to buy personal vehicles for daily commuting and leisure purposes. As per statistics, global passenger vehicle sales grew at a CAGR of over 5% during the period 2015-2019. Emerging economies in Asia Pacific such as China and India have become the largest passenger vehicle markets globally. This continuous growth in vehicle production directly increases the demand for balance shafts from OEMs to maintain engine vibration balance and improve overall performance. Balance shafts are crucial engine components incorporated by vehicle manufacturers to meet stringent emission norms.

Key Company Profiles:

Major players operating in the vehicle balance shaft market are Metaldyne LLC, Musashi Seimitsu Industry Co., Ltd., SKF Group, Otics Corporation, SHW AG, Sansera Engineering, Mitec-Jebsen Automotive Systems (Dalian) Co. Ltd., Ningbo Jingda Hardware Manufacture Co., Ltd., Tfo Corporation, and Engine Power Components, Inc.

Key Region/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Adoption of hybrid vehicles offers new growth avenues

The increasing deployment of hybrid powertrains across different vehicle types presents lucrative opportunities for manufacturers in the vehicle balance shaft market. Hybrid electric vehicles majorly utilize gasoline direct-injection engines integrated with electric motors/generators to switch between combustion and electric-only modes for optimized energy efficiency. Balance shafts enable fine-tuning of such advanced engines for low vibration and acoustic noise even under fluctuating load and speed conditions. Their importance further elevates in hybrid applications to provide a comfortable driving experience to customers. Leading automakers are committed to expanding their hybrid vehicle lineups in response to rising environmental awareness. This growing electrification trend in the global automotive industry will augment demand for specialized balance shaft solutions compatible with hybrid engines.

Emergence of EVs to change market dynamics over long-term

A key trend influencing the vehicle balance shaft market over the coming years will be the rapid electrification of transport via widespread adoption of electric vehicles (EVs). Many countries have outlined plans to transition away from conventional internal combustion engine vehicles and promote zero-emission EVs as the preferred mobility solution. Automakers are heavily investing in developing affordable EV models for diverse consumer segments. Balance shafts are redundant in battery-powered vehicles since they do not utilize combustion engines. EVs completely rely on electric motors integrated with large battery packs. This paradigm shift from engines to electrics is anticipated to disrupt demand patterns for conventional engine balance shafts. While demand will remain robust over the short to medium-term, their need is expected to reduce considerably as more consumers opt for EVs in the long run beyond 2030. This changing market dynamic presents both threats as well as opportunities for component manufacturers through product innovations.

Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1Definition and forecast parameters
1.2Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Industry Insights

3.1 Industry fragmentation
3.2 Industry landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Vehicle Balance Shaft Market , By Region

Chapter 5: Company Profiles

5.1 Overview of the Company

5.2 Economic components

5.3 Product Overview

5.4 Analysis of Strengths and Weaknesses

5.5 Methodical Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

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