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Apr 02, 2023

Balancing Performance: Automotive Balance Shaft Market Estimated to Reach US$ 25 Billion by 2032 at a Steady CAGR of 6%

Demand for automotive balancing shaft market is expected to expand from its 2022

Demand for automotive balancing shaft market is expected to expand from its 2022 valuation of US$14.03 Billion to its 2032 valuation of US$25.01 Billion, a CAGR of 6%. The need for an automotive balancing shaft has been rising, particularly in the automobile sector.

The need for vehicles with engines that create less noise, harshness, and vibration, as well as the increased acceptance of fuel-efficient vehicles with low carbon emissions, have all contributed to the growth of the worldwide automotive balancing shaft market. Inline 4-cylinder engines are also becoming more and more popular.

However, the popularity of electric vehicles and the rising demand for luxury cars and SUVs with high-performance engines are limiting the growth of the automotive balancing shaft industry. However, as the need for passenger cars rises in developing nations and new technology are introduced, opportunities will present themselves in the future.

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The economies of North America, Europe, Asia-Pacific, and Latin America and the Caribbean are just a few of the geographical regions taken into account in this analysis of the worldwide automotive balancing shaft market. In 2020, Asia and the Pacific accounted for more than half of the market. However, the automotive balancing shaft market in LAMEA is anticipated to expand at the fastest rate, 7.2%, during the course of the forecast period.

The use of technologies by OEMs to comply with environmental and fuel efficiency laws has become a component of branding. By 2016, all new cars sold in the US must achieve 34.1 mpg, or 250 g of CO2 per mile. The demand for fuel-efficient, low-emission vehicles is driving growth in the automotive balancing shaft industry. The market for automotive balancing shafts benefits from the expansion of the automotive industry in developing nations.

Low cost auto-balancing shafts are another market-driver. The expense of replacing a broken balancing shaft is not high. Their appeal is influenced by their usability; many people would rather buy a new car than have their old one fixed. Automotive balancing shaft market growth is being fueled by rising passenger car and light commercial vehicle demand, rising fuel efficiency and emissions reduction awareness, and rigorous pollution regulations globally.

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The automotive industry benefits from the market for balancing shafts in a number of ways. However, in the next years, this market may face difficulties due to rigorous pollution regulations and limits put on automakers, which may impede its growth for the entire anticipated time. Raw material price volatility may also cause the market for balance shafts to slacken. The market for automotive balancing shafts is anticipated to slow due to the demand for electric automobiles.

Key Takeaways

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Competitive Landscape

SHW AG, Otics Corporation, Metaldyne LLC, Musashi Seimitsu Industry Co. Ltd., TFO Corporation, Sansera Engineering, Engine Power Components Inc., Ningbo Jingda Hardware Manufacture Co. Ltd., and others are just some of the major players in the automotive balance shaft market that PMR profiles in its report.

It's no secret that many nations have set goals to reduce their carbon emissions, and this awareness has prompted vendors to come up with new and exciting product lines. To further expand their customer base, many companies in the automobile balance shaft sector are turning to mergers and partnerships.

Key Segments Profiled in the Automotive Balance Shaft Market Survey

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Recent Developments

Seventeen new product lines were introduced by American Axle & Manufacturing, Inc. (AAM) in 2020. These new offerings ranged from vibration control systems with isolation pulleys and balance shaft modules to complete axles.

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