Press release
Key Balance Shafts Market Trend for 2025-2034: Emergence Of Specialized Balance Shaft Kits
Key Balance Shafts Market Trend
The balance shafts market has grown strongly in recent years, expected to expand from $14 billion in 2024 to $14.9 billion in 2025, with a CAGR of 6.4%. Growth has been driven by the automotive industry's expansion, a focus on engine performance, stringent emission standards, consumer demand for a smooth driving experience, and increased implementation in high-performance vehicles.
The balance shafts market is projected to experience strong growth, reaching $18.29 billion by 2029 with a compound annual growth rate (CAGR) of 5.3%. This growth is driven by the continued expansion of the automotive industry, increasing focus on fuel efficiency, adoption in electric and hybrid vehicles, the global shift towards electric mobility, and the emphasis on vehicle comfort and NVH (noise, vibration, and harshness) reduction. Key trends include the development of twin-scroll balance shafts, use of advanced materials in construction, implementation of variable valve timing (VVT), adoption of balancer modules for specific engine types, and NVH reduction technologies.
What Is Stimulating Growth in the Balance Shafts Market?
Similarly, the demand for fuel efficiency is expected to boost the growth of the balance shaft market. A balance shaft helps reduce engine vibration and friction, leading to improved fuel efficiency, reduced CO2 emissions, and a smoother engine operation. With the U.S. Department of Transportation's 2022 fuel economy standards aiming to increase fuel efficiency by 8% annually for model years 2024-2025 and 10% for 2026, the need for balance shafts in vehicle engines will rise, further propelling market growth.
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Which Key Market Leaders Are Driving Balance Shafts Industry Growth?
Major companies operating in the balance shafts market report are Linamar Corporation, American Axle & Manufacturing Holdings Inc., Schaeffler Technologies AG & Co. KG, Metaldyne Performance Group Inc., Hirschvogel Holding GmbH, SHW AG, MAT Foundry Group Ltd., Sansera Engineering Pvt. Ltd., Ningbo Jingda Hardware Manufacture Co. Ltd., Hirschvogel Group, Engine Power Components Inc., Otics Corporation, Rane Engine Valve Limited, SAC Engine Components Pvt. Ltd., TFO Corporation, Shanghai Spb Industry Co. Ltd., Hines Industries Inc., oso precision GmbH, Bailey Morris Limited, Hunan Qilu Industrial Co. Ltd., Jinan Zhengdian Automobile Parts Co. Ltd., Kersten Maschinenbau GmbH, MFT Motoren und Fahrzeugtechnik GmbH, JL Autoparts Pvt. Ltd., Qingdao Milestone Vehicle Parts Co. Ltd., Mitec-Jebsen Automotive Systems (Dalian) Co Ltd.
What Are the Emerging Trends in the Balance Shafts Industry?
Companies in the balance shaft market are focusing on balance shaft kits to enhance engine performance by reducing vibrations. For example, in April 2022, UK-based Laser Tools launched a kit for Jaguar/Land Rover AJ200 2.0-liter diesel engines, facilitating the safe removal, refitting, and alignment of balance shafts.
What Are the Main Segments in the Balance Shafts Market?
The balance shafts market covered in this report is segmented -
1) By Engine Type: Inline-3 Cylinder Engine, Inline-4 Cylinder Engine, Inline-5 Cylinder Engine, V6 Engine
2) By Manufacturing Process: Casting, Forging
3) By Application: Passenger Cars, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)
Subsegments:
1) By Inline-3 Cylinder Engine: Small Engine Balance Shafts, Turbocharged Inline-3 Cylinder Balance Shafts
2) By Inline-4 Cylinder Engine: Standard Inline-4 Cylinder Balance Shafts, Turbocharged Inline-4 Cylinder Balance Shafts
3) By Inline-5 Cylinder Engine: Conventional Inline-5 Cylinder Balance Shafts, Turbocharged Inline-5 Cylinder Balance Shafts
4) By V6 Engine: Conventional V6 Engine Balance Shafts, Turbocharged V6 Engine Balance Shafts
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Which Geographic Area Leads the Balance Shafts Market?
North America was the largest region in the balance shafts market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the balance shafts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Balance Shafts Global Market Report?
- Market Size Analysis: Analyze the Balance Shafts Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Balance Shafts Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Balance Shafts Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Balance Shafts Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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