What are the Historical Developments and Current Growth Metrics of the Balance Shafts Market?
The balance shafts market has seen considerable growth due to a variety of factors.
• The market size for balance shafts has seen robust growth in the past years, with projections showing a rise from $14 billion in 2024 to $14.9 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.4%.
Factors that fuelled growth during the historical period include expansion in the automotive industry, emphasis on engine performance, strict emission directives, customer preference for smooth driving, and usage in high-performance vehicles.
What Does Future Hold for The Balance Shafts Market By 2029?
The balance shafts market is expected to maintain its strong growth trajectory in upcoming years.
• The future looks promising for the balance shafts market, with an anticipated significant increase in size over the upcoming years. Predictions show a possible growth to $18.29 billion in 2029, reflecting a compound annual growth rate (CAGR) of 5.3%.
This expected growth in the forecast period is largely down to persistent expansion in the automobile industry, increased emphasis on fuel-efficient vehicles, integration in electric and hybrid vehicles, the global transition towards electrified transportation, and focus on enhancing vehicle comfort and lowering noise, vibration, and harshness (NVH). Key emerging trends for the forecast period incorporate the advent of twin-scroll balance shafts, the use of cutting-edge materials in balance shaft creation, application of variable valve timing (VVT) in balance shaft systems, the preference for balancer modules for distinct engine setups, and the employment of noise, vibration, and harshness (NVH) reduction techniques.
What Are The Primary Growth Drivers In The Balance Shafts Market?
The surge in demand for improved fuel efficiency is likely to heavily influence the future trajectory of the balance shaft market. Essentially, fuel efficiency denotes the distance a vehicle can cover with a predetermined quantity of fuel, representing a measure of how effectively the vehicle or machine transfers chemical energy from the fuel into kinetic energy or work. Utilizing a balance shaft in a car engine can decrease friction and vibration, subsequently lessening total fuel usage. This assists in minimizing carbon dioxide emissions and optimizing fuel efficiency. For example, the U.S. Department of Transportation, a federal executive department in the US, divulged new fuel economy standards in April 2022 that aim to augment fuel efficiency by 8% yearly for model years 2024-2025 and 10% annually for model year 2026. As a result, the escalating requirement for fuel efficiency is stimulating the expansion of the balance shaft market.
Dynamic Growth of Automobile Industry Propels Balance Shafts Market
What Is The Segmentation Of The Global 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 Emerging Market Trends Are Altering The Balance Shafts Industry?
In an attempt to enhance their competition in the balance shaft market, key corporations are turning their attention to the production of balance shaft kits. Balance shaft kits can be defined as a collection of parts that assist in countering vibrations in internal combustion engines, thus improving the overall smoothness of the engine. For example, in April 2022, Laser Tools, a UK-based firm, unveiled a removal and installation kit for balance shafts specifically created for the Jaguar/Land Rover AJ200 2.0-litre diesel engines. The kit, denoted as part number 8271, is constructed for secure removal, refitment and alignment of the gear-driven balance shafts on these engines, and it's equivalent to several OEM tools. The kit, which can be applied to a variety of Jaguar and Land Rover models, including the Jaguar E-Pace, F-Pace, XE, XF and Land Rover Discovery, has all the essential components necessary for the secure removal, fitting and timing of the gear-driven balance shaft on these specific types of engines.
Who Are the Key Players In The Balance Shafts Market?
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 Regional Insights Into 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.
