“The global automotive balance shaft market size is estimated to be $9,854.7 million in 2015 and is projected to grow to at a CAGR of 6.15% from 2015 to 2020. Factors driving the market are the increasing demand for vehicles equipped with inline-4 cylinder engines, need to reduce engine NVH levels, and the growing trends of fuel efficiency, reduced CO2 emissions, and weight reduction. Alternately, factors such as the shifting focus towards electric vehicles and increasing demand for SUV and luxury cars with high-performance engines are restraining market growth.
Based on the scope of this report, the automotive balance shaft market has been segmented by manufacturing process (forging and casting), by vehicle type (passenger car, LCV, and HCV), and by region (Asia-Oceania, Europe, North America, and RoW). The material used to manufacture balance shafts plays a vital role in contributing to its overall weight. Most OEMs use aluminum balance shafts for reduced weight and added strength. This report classifies and defines the global balance shaft market size, in terms of volume and value from 2015 to 2020. Market size, in terms of volume, is provided in thousand units (‘000 units), whereas the market size, by value, is provided in terms of $million.
The global automotive balance shaft market is dominated by a few major players and comprises local small/medium players as well. Key players include SKF Group (U.S.), SHW Ag (Germany), Musashi Seimitsu Industry Co. Ltd (Japan), OTICS Co. (Japan), and Metaldyne (U.S.). Some of the major strategies adopted by these key market players are region-wise expansion and new product development.
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