Automotive Balance Shaft Market Trends

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.  

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.  

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. 

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.