An automotive balance shaft is integrated to offset the vibrations created by the engine. It is integrated with vehicle engines for offsetting the vibration effect that the engine creates. The balance shaft is a complex part that needs to be designed precisely to make sure it’s compatible with the engine system. A balance shaft is created through either forging or casting. The global automotive balance shaft market was USD 10.71 billion in 2018 and is estimated to reach USD 15.60 billion by 2025 at a CAGR of 5.52% during the forecast period
Growth by Region
Asia Pacific region, comprising markets such as China, India and Japan is the largest market. The primary reason behind this is that the Chinese market, has evolved into the largest producer and consumer of automobile across the globe.
North America is expected to grow substantially in the coming years. This growth is attributed to growing stringency of regulatory bodies towards reducing carbon footprint and emissions
Drivers vs Constraints
Globally the demand for ‘Incline-4 Cylinder Engine’ is growing. The demand for environmental friendly vehicles is on the rise, awareness of road accidents and stringent government policies about safety concerns and integration of balance shaft in vehicles offering vehicle engines with reduced noise, vibration and harness contributes to driving factors in future
Penetration in major countries and less awareness about the benefits of automotive balance shaft market and certain disadvantages due to additional weight and high replacement costs are the only constraints of balance shafts