USD 12.1 Billion
Automotive Balance Shaft Market Size, Share, and Growth Analysis
Automotive Balance Shaft Market By Engine Type(Inline 3-cylinder Engine, Inline 4-cylinder Engine, Inline 5-cylinder Engine, and V6 Engine), By Manufacturing Process(Forging, and Casting), By Application(Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), By Sales Channel(Original Equipment Manufacturer, and Aftermarket), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG25A2148 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|Tables:
64
|Figures:
65
Format -
Automotive Balance Shaft Market Insights
Automotive Balance Shaft Market size was valued at USD 12.1 Billion in 2023 and is poised to grow from USD 12.73 Billion in 2024 to USD 19.04 Billion by 2032, growing at a CAGR of 5.2% during the forecast period (2025-2032).
Rapidly surging demand for vehicles around the world and growing automotive production are expected to be key factors promoting the sales of automotive balance shafts going forward. Growing emphasis on improving efficiency and performance of engines is also expected to bolster the global automotive balance shaft market growth in the future. Imposition of stringent vehicle emission mandates to reduce pollution and carbon footprint is also expected to bolster the demand for automotive balance shafts over the coming years. Use of lightweight materials and advanced manufacturing technologies is also slated to help create new business scope for automotive balance shaft manufacturers in the long run. High investments in R&D of new engine designs are also slated to offer new opportunities for automotive balance shaft suppliers going forward. On the contrary, adoption of electric vehicles, market saturation in developed regions, fluctuations in raw material prices, and complexity in integration are estimated to be key constraints for automotive balance shaft companies across the study period and beyond.
US Automotive Balance Shaft Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
OEMs
Fastest Growth
Aftermarket
Growth Rate
5.2% CAGR
Global Automotive Balance Shaft Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Automotive Balance Shaft Market Segments Analysis
Global Automotive Balance Shaft Market is segmented by Engine type, Manufacturing Process, Application, Sales channel, and region. Based on Engine type, the market is segmented into Inline 3-cylinder Engine, Inline 4-cylinder Engine, Inline 5-cylinder Engine, and V6 Engine. Based on Manufacturing Process, the market is segmented into Forging, and Casting. Based on Application, the market is segmented into Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles. Based on sales channel, the market is segmented into Original Equipment Manufacturer, and Aftermarket. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Sales Channel
OEMs (original equipment manufacturers) are projected to spearhead the global automotive balance shaft demand outlook. OEM automotive balance shafts are recommended by automotive manufacturers as they are built as per the company's standards. These balance shafts are usually more expensive but are preferred by users for their longevity and high-quality ratings. Moreover, the recommendation to use OEM-spec parts for vehicles by companies and mechanics is also expected to help this segment bolster its dominant global automotive balance shaft market share in the future. However, high costs of OEM-spec automotive balance shafts are expected to impede their adoption to a certain extent.
On the other hand, the demand for aftermarket automotive balance shafts is slated to rise at an impressive pace across the study period and beyond. Growing demand for affordable vehicle parts in developing countries by consumers with limited spending potential is helping this segment generate new opportunities going forward. A rising number of local vehicle parts manufacturers and increasing sales of second-hand/used vehicles are also expected to help this segment boost revenue generation potential for automotive balance shaft vendors in the long run. Developing countries are slated to spearhead the sales of aftermarket automotive balance shafts over the coming years.
Analysis by Engine Type
Inline 4-cylinder engines are projected to spearhead the global automotive balance shaft market share over the coming years. Extensive use of this type of engine in multiple compact and small cars is projected to help this segment bolster its dominance going forward. Reduced emissions, high performance, and better fuel efficiency of inline 4-cylinder engines make them a popular choice among multiple vehicle manufacturers. Moreover, the balanced and streamlined operations of inline 4-cylinder engines makes them a preferred choice for passenger cars with smooth and quite riding feel. Use in light trucks is also expected to help this segment hold sway over others.
Meanwhile, the demand for automotive balance shafts in inline 3-cylinder engines is slated to rise at a notable pace in the future. Rising demand for small and compact vehicles with high fuel efficiency is projected to help this segment generate multiple new opportunities. The highly affordable nature of 3-cylinder engines along with its lightweight capabilities makes it a preferred choice in manufacturing of affordable and budget-friendly vehicles. Increasing efforts of vehicle manufacturers to reduce emissions are also pushing them to develop new 3-cylinder engines for hybrid vehicles thereby presenting new opportunities for automotive balance shaft manufacturers as well.
Global Automotive Balance Shaft Market By Sales Channel
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Automotive Balance Shaft Market Regional Insights
The presence of key automotive giants and robust automotive manufacturing activity allows the Asia Pacific region to emerge as the top revenue generator in the global automotive balance shaft market forecast through 2031. Increasing disposable income of people, rising demand for compact and hybrid vehicles, and imposition of stringent vehicle emission control mandates are slated to help this region bring in the most revenue. High emphasis on improving engine efficiency by engine manufacturers is also slated to boost sales of automotive balance shafts in the Asia Pacific region going forward. China, South Korea, Japan, and India are estimated to be the most opportune markets for automotive balance shaft vendors in this region.
Meanwhile, Europe is slated to emerge as the second-largest market for automotive balance shaft companies going forward. The presence of multiple automotive manufacturers and imposition of stringent vehicle emission reduction mandates are helping this region offer new business scope for automotive balance shaft providers. Rising preference for energy-efficient engines, high demand for compact vehicles, and growing demand for hybrid vehicles are all expected to favor sales of automotive balance shafts in the long run. Germany is slated to emerge as the most opportune market in the European region followed by the United Kingdom and France through 2031 and beyond.
Global Automotive Balance Shaft Market By Region
- Largest
- Fastest
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Automotive Balance Shaft Market Dynamics
Automotive Balance Shaft Market Drivers
Emphasis on Improving Engine Efficiency
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Growing focus on sustainability and emission reduction around the world is projected to help bolster the demand for automotive balance shafts over the coming years. Automotive balance shafts are vital in the reduction of engine vibrations, providing smoother operation and improved performance thereby making them important components to enhance engine efficiency.
Surge in Vehicle Production Around the World
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Rapid urbanization and growing disposable income of people is contributing to high sales of vehicles. This has led to high vehicle production activity around the world thereby further bolstering the demand for automotive balance shaft. Expansion of the upper middle class population is a major contributor to rising vehicle sales around the world.
Automotive Balance Shaft Market Restraints
Market Saturation in Developed Regions
-
Developed regions such as North America and Europe are witnessing a plateau in terms of vehicles sales owing to saturation of vehicle ownership in these regions. Moreover, the shift towards electric vehicles in these regions is further increasing market saturation and thereby negatively impacting the demand for automotive balance shafts going forward.
Shift Towards Electric Vehicles
-
Growing popularity and adoption of electric vehicles is slated to have a negative impact on the sales of automotive balance shafts in the future. Electric vehicles run on motors and batteries, which completely eliminates the need for balance shafts that are essential in engines. Hence, rising popularity and sales of electric vehicles are slated to hurt the global automotive balance shaft market outlook in the long run.
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Automotive Balance Shaft Market Competitive Landscape
Automotive balance shaft companies should focus on providing new products to stay competitive in the global market. Collaborating and partnering with automotive companies to ensure high OEM sales will also be a key strategy for market players in the future. Use of advanced materials and composites to develop lighter and more efficient automotive balance shaft will also generate new opportunities for automotive balance shaft manufacturers going forward.
Top Players in Automotive Balance Shaft Market
- Metaldyne Performance Group (MPG)
- Musashi Seimitsu Industry Co., Ltd.
- Ningbo Jingda Hardware Manufacture Co., Ltd.
- SHW AG
- Sansera Engineering Ltd.
- SKF Group
- TFO Corporation
- Otics Corporation
- Engine Power Components, Inc. (EPC)
- Mitec Automotive AG
- Xuchen Powertrain Technology
- Zhongding Group
- Farinia Group
- Mahle GmbH
- AAM (American Axle & Manufacturing, Inc.)
- Kalyani Group
- AVL List GmbH
- Dana Incorporated
- Linamar Corporation
- Riken Corporation
Automotive Balance Shaft Market Recent Developments
- In May 2024, Toyota, a leading automotive manufacturer from Japan revealed its plans to develop a novel inline-4 engine for hybrid vehicles. The high flexibility of inline 4-cylinder engine is making it an indispensable part of the automotive industry thereby also driving the demand for balance shafts as they are vital components of these engines.
Automotive Balance Shaft Key Market Trends
- Integration with Hybrid Powertrains: Automotive balance shaft companies should focus on providing integration of their offerings with hybrid powertrains to optimize engine performance and reduce vibrations whilst maximizing their business scope. Rising sales and popularity of hybrid vehicles are expected to make this a prominent automotive balance shaft market trend for companies in the long run.
- Collaborations and Partnerships: Automotive balance shaft companies should focus on collaborations and partnerships to foster new innovation and utilize advanced technologies. Collaborations can also help in the development of novel integrated solutions for new engine designs. Focusing on these strategies can help companies maximize their business scope as well as revenue generation potential as well.
Automotive Balance Shaft Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing demand for efficient engines and rising automotive production activity are projected to drive up the demand for automotive balance shafts. However, a shift towards electric vehicles and market saturation in developed regions are expected to slow down sales of automotive balance shafts in the future. The Asia Pacific region is forecasted to spearhead the global automotive balance shaft market growth owing to the presence of key automotive manufacturers and rising vehicle sales. Integrating balance shafts with hybrid powertrains is expected to emerge as a key opportunity for automotive balance shaft companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 12.1 Billion |
| Market size value in 2032 | USD 19.04 Billion |
| Growth Rate | 5.2% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Balance Shaft Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Balance Shaft Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Balance Shaft Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Balance Shaft Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Balance Shaft Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Balance Shaft Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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