Vehicle Balance Shaft Market Size, Share, Growth, and Industry Analysis, Segmentation By Type (Forged and Cast Balance Shaft), By Application (Inline-3 Cylinder, Inline-4 Cylinder, Inline-5 Cylinder, V-6 Cylinder and Others), Regional Insights, and Forecast To 2032

• 

   Request a Free Sample To Get More Information on this Market

VEHICLE BALANCE SHAFT MARKET REPORT OVERVIEW

global vehicle balance shaft market size was USD 10.79 billion in 2023 and market is projected to touch USD 15.96 billion by 2032 at CAGR 4.40% during the forecast period.

In certain internal combustion engines, a revolving component called a balancing shaft is employed to lessen vibration and enhance overall smoothness. Because pistons, connecting rods, and other moving parts reciprocate, engines by nature create vibrations and imbalances. Uncomfortable sensations, loudness, and even a shorter engine life might result from these vibrations. A balancing shaft's main job is to dampen these vibrations by rotating in the opposite direction of the crankshaft at the same speed. As a result, there is less overall vibration as the forces produced by the reciprocating parts of the engine are balanced out.

COVID-19 IMPACT

"Deceased Supply Chain and Decreased Sale of New Vehicles Hampered the Market Growth"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has resulted in a number of negative effects, including increased consumer anxiety, a significant slowdown in the supply chain, a reduction in corporate confidence, and market uncertainty. Various regional governments have declared a complete lockdown and a temporary shutdown of industry, which has had a negative impact on overall sales and output. Sales of new cars were impacted by the COVID-19 epidemic, particularly in 2020. It led to interruptions in the supply chain, which delayed the production of automobiles. Many automakers had a lack of parts and supplies, which caused a delay in vehicle manufacturing.

LATEST TRENDS

"Improved Adoption of Fuel Efficient Vehicles with Low Carbon Emission to Inflate the Market Share"

In response to growing worries about climate change, a number of nations worldwide are launching campaigns to encourage the use of fuel-efficient automobiles. For instance, the Indian government advised automakers to start producing cars using flex fuel engines in 2021. The government has implemented a number of laws to lower car emissions and fuel usage. The use of balancing shafts has expanded because to worries about the environmental effects of light-duty vehicle emissions. Tight international emission regulations and increased public knowledge of environmental issues push suppliers and original equipment manufacturers (OEMs) to provide improved goods in response to mounting concerns.

VEHICLE BALANCE SHAFT MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into forged and cast balance shaft.

• Forged Balance Shafts: Forging is the process of exerting force to metal by rolling, pressing, or pounding it. A piece of metal, generally steel, is shaped while it is still solid to form forged balance shafts. Comparing forged balance shafts to their cast equivalents, the former are often stronger and more resilient. The metal's grain structure is aligned during the forging process, which increases strength. In general, forging is a more costly production method than casting. Higher strength and durability, though, can make up for the initial expense.

• Cast Balance Shafts: Melted metal is poured into a mold during the casting process, where it cools and solidifies into the appropriate shape. This casting method yields cast balance shafts. More elaborate detailing and complicated forms may be produced with castings. This can be useful for creating balancing shafts with certain characteristics. Forging is usually a more expensive production process than casting. In general, less energy is used and the process is faster.

By Application

Based on application the global market can be categorized into Inline-3 Cylinder, Inline-4 Cylinder, Inline-5 Cylinder, V-6 Cylinder and others.

• Inline-3 Cylinder: An inline-3 cylinder engine often has some imbalance due to the firing order and layout. One balancing shaft may be used by manufacturers to offset these vibrations. Inline-3 cylinder engines often use balance shafts to improve smoothness and lessen vibrations.

• Inline-4 Cylinder: A single or dual balancing shaft arrangement is frequently used in inline-4 cylinder engines. Balance shafts are useful because the configuration and firing sequence of four cylinders in a line might result in considerable secondary and tertiary vibrations. Inline-4 cylinder engines frequently employ balance shafts to lessen vibration and increase overall engine smoothness.

• Inline-5 Cylinder: Because of the odd number of cylinders, the inline-5 cylinder layout naturally has some main imbalance. To offset these vibrations, manufacturers may decide to employ one or two balancing shafts. Balance shafts are sometimes employed in inline-5 cylinder engines, particularly in cars, to improve smoothness.

• V-6 Cylinder: Because of their V-shaped design, V6 engines are prone to inherent imbalances. Certain criteria, such the firing sequence and V-angle, determine whether or not to require balancing shafts in V6 engines. While some V6 engines use balancing shafts to reduce vibration, others could use alternative techniques. In V6 engines, balance shafts are utilized selectively based on the demands and design of the engine. To mitigate vibrations, other technologies such as active motor mounts may potentially be used in certain situations.

DRIVING FACTORS

"Increasing Demand for Inline 4-cylinder Engines to Supplement the Market Growth"

Automobiles with inline 4-cylinder engines are starting to use these engines often. Improved price and fuel efficiency are driving the demand for inline-4 cylinder engines. It is not possible to completely remove second-order vibration in inline 4-cylinder engines because of the unequal movement of the connecting rods during crankshaft rotation. Inline 4-cylinder engines typically use balance shafts to lessen these vibrations. Therefore, it is anticipated that rising demand for inline 4-cylinder engines would raise demand for balancing shafts, which will fuel market expansion throughout the course of the projection period.

"Rising Need for Vehicle Engines with Reduced Noise Vibration to Multiply the Market Share"

Vehicle performance and driving experience are greatly impacted by noise, vibration, and harshness. Automakers are always searching for ways to make engines run smoother and with less harshness and vibration. By canceling out the vertical second-order forces produced by the engine, balance shafts help reduce engine noise, vibration, and harshness while also enhancing the comfort and performance of cars. Numerous vehicle balance shaft producers provide creative ways to expand the capabilities of the balancer shaft to give better fuel efficiency, reduced emissions, and reduced noise and vibration.

RESTRAINING FACTOR

"Certain Issues with Variable Load, Space and Complexity to Deprive the Market Growth"

The engine design becomes more complex and more expensive to manufacture when balancing shafts are included. Balance shafts are designed to function best in certain operating environments, and the weights and RPM ranges at which they are effective can change. There might not be enough room to install balancing shafts in some engine designs or small engine bays. Hence, the complexity and issues with variable load and space factors are expected to hinder the vehicle balance shaft market growth during the forecast period.

• 

   Request a Free Sample To Get Analysis on Major Geographic Market

VEHICLE BALANCE SHAFT MARKET REGIONAL INSIGHTS

"Asia Pacific to Lead the Market owing to Growing Automotive Sector "

The market is primarily segregated into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

Asia Pacific region to lead the vehicle balance shaft market share. Asia Pacific is anticipated to be the most profitable region in terms of automotive balancing shaft market share due to a developing automotive sector. China and India provide the finest opportunity because of their immense development potential; several regional and international automakers have opened plants there. With nearly 21 million cars sold at the beginning of 2022 and local production topping 26 million units for the fiscal year 2017–2022, India ranked as the fourth-largest automobile market in the world in 2022. Likewise, China had a rise of almost 12% in October 2022. The Asian car industry is anticipated to thrive in spite of the recession brought on by the coronavirus epidemic, guaranteeing a steady demand for automotive balancing shafts for the foreseeable future.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

Important industry players have a big impact on the market and are crucial in determining customer preferences and market dynamics. These major firms provide consumers easy access to a vast array of clothing alternatives through their huge retail networks and online platforms. Product adoption has increased as a result of their strong worldwide presence and well-known brand, which has also enhanced consumer trust and loyalty. These industry titans also consistently fund R&D, bringing cutting-edge designs, materials, and clever features to vehicle balance shaft to meet changing customer demands and preferences. These big businesses' combined efforts have a big impact on the market's future direction and level of competition.

List of Top Vehicle Balance Shaft Companies

• Metaldyne LLC (U.S.)
• Musashi Seimitsu Industry Co., Ltd (Japan)
• SKF Group (Sweden)
• Otics Corporation (Japan)
• SHW AG (Germany)
• Sansera Engineering (India)
• Mitec-Jebsen Automotive Systems (Dalian) Co. Ltd (China)
• Ningbo Jingda Hardware Manufacture Co., Ltd (China)
• Tfo Corporation (Bahrain)
• Engine Power Components, Inc. (U.S)

INDUSTRIAL DEVELOPMENT

March 2021: SKF made 81.73 billion in net sales overall. SKF India operates 12 offices and 3 industrial sites throughout India. In addition to 455 authorized distributors and over 1900 suppliers, SKF India employs 1762 people.

REPORT COVERAGE

The report includes a thorough SWOT analysis and offers predictions for market growth in the future. It explores a broad range of market categories and possible applications that might have an impact on the market's trajectory in the upcoming years, as well as key aspects that contribute to the market's growth. The research provides a comprehensive overview of the market's components and identifies possible growth opportunities by taking into account both historical turning points and present trends.