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Vehicle Balance Shaft Market

The research report on vehicle balance shaft market categorizes the global market by manufacturing process, by vehicle type (Passenger Car, LCV, and HCV), by engine type, and by region.
Vehicle Balance Shaft Market - Global
Industry Insights, Trends, 2018-2026
A balance shaft is an eccentric weighted shaft that is designed to rotate and vibrate in
order to reduce vibration produced by an engine. Balance shaft is commonly utilized in
four-cylinder engines.
Dearth of conventional fuel sources along with concerns regarding growing
carbon footprint is fuelling growth of the global vehicle balance shaft market
Factors driving growth of the global market is increasing CO​2 emission in conjunction
with factor such as regulations concerning exhaust gas emissions. CO​2 emissions can
be is proportional to the fuel consumed during vehicle's operations. Balance shaft is
responsible for increasing engine efficiency and reduce overall fuel consumption in
order to reduce CO​2 emission by reducing friction and vibration, improves oil mist
supply, and reduces oil feed holes.
Automotive and transportation account for a major share of the global energy
consumption, which is further increasing CO​2 emission as well as global warming.
Owing to these factors, governments have implemented stringent regulations regarding
reducing carbon footprint and enhancing fuel efficiency, and this is among key factors
driving growth of the global vehicle balance shaft market. For instance the European
Union has set emissions standards. EU Regulation No 443/2009 sets an average CO​2
emission target for new passenger cars of 130 grams/kilometer. A target of 95
grams/kilometer will apply from 2021. According to CIA World Factbook, conventional
fuels, commonly referred to as the fossil fuels such as coal, oil, and gas are expected to
be exhausted by 2052, if the global consumption of oil remains consistent with an
annual oil consumption of over 11 billion tons.
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Global Vehicle Balance Shaft Market: Restraint
Rising popularity of electric vehicles and growing sales of vehicles utilized for sports are
among the key factors restraining growth of the global vehicle balance shaft market. For
instance, according to the International Energy Agency (IEA), over 750 thousand units’
electric vehicles were sold, in 2016, globally. Hence, increase in electric vehicles
production will reduce demand for balance shaft in vehicles as these electric cars and
other luxurious vehicles have high performance engines, which do not require balance
shaft for engine operation.
Global Vehicle Balance Shaft Market: Segment Trends
Among engine types, Inline-4 Cylinder Engine accounted for the largest share in the
global market in 2016. This is due to high demand for environment friendly vehicles and
increasing concerns related to reduction in carbon footprint, aiding in growth of the
segment. OEMs in automotive are incorporating balance shaft in the vehicles to offer
vehicle engines with reduced and negligible noise, vibration, and harshness. Moreover
OEMs are using aluminum balance shafts in vehicles to reduce their weight and
Among vehicle types, passenger cars accounted for the largest share in the global
automotive market in 2016, in terms of volume. For instance, according to The
Organisation Internationale des Constructeurs d'Automobiles (OICA), in 2016, total
vehicle produced globally was 94,976,569 units, among them 72,105,435 were
passenger cars produced in 2016, which is almost 75% of the global vehicle production.
Therefore, increasing vehicle production is leading to high demand for balance shaft for
fuel efficiency along with requirement to reduce CO​2​ emissions.
Global Vehicle Balance Shaft Market: Regional Insights
The global vehicle balance shaft market is segmented on the basis of regions into North
America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The vehicle
balance shaft market in North America is expected to exhibit the CAGR during the
forecast period. This growth is attributed to growing stringency of regulatory bodies
towards reducing carbon footprint and emissions, and is also a major factor propelling
growth of the regional market. For instance, Corporate Average Fuel Economy (CAFÉ)
Standards in the U.S. is propagating adoption of energy efficient automotive by
formulating regulations for reduction of petroleum consumption and enhancing
utilization of alternative fuel vehicles such as hybrid vehicles. This in turn, creates a
highly conducive environment for growth of the global vehicle balance shaft market.
The market for vehicle balance shaft in Asia Pacific region accounted for the largest
market share in 2016 and it is expected to retain its dominance over the forecast period.
The growth in this region is attributed to presence of some of the world’s largest
manufacturing and sales hubs in the region. According to Coherent Market Insights’
analysis, vehicles production of the countries, including China, India, Japan, South
Korea, and Thailand accounted for over 50% of the global production. Hence,
increasing vehicle production further demands for balance shaft in this region.
Global Vehicle Balance Shaft Market: Competitive Background
Major players operating in the vehicle balance shaft market are Metaldyne LLC,
Musashi Seimitsu Industry Co., Ltd., SKF Group, Otics Corporation, SHW AG, Sansera
Engineering, Mitec-Jebsen Automotive Systems (Dalian) Co. Ltd., Ningbo Jingda
Hardware Manufacture Co., Ltd., Tfo Corporation, and Engine Power Components, Inc.
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