The Asia Pacific Automotive Balance Shaft Market would witness market growth of 4.7% CAGR during the forecast period (2021-2027).
The market for balancing shafts is growing due to an increasing pattern of fuel efficiency, lower CO2 emissions, and lighter weight. As a result, factors such as increased demand for automobiles with inline-4 cylinder engines and the requirement to reduce engine NVH levels are projected to drive the market growth over the upcoming years.
The issue gets worse as the engine displacement gets bigger because the only option to get bigger is to have a longer piston stroke, which raises the discrepancy in acceleration, or a bigger bore, which increases the mass of the pistons; either way, the inertial vibration gets worse. For several years, the 'unofficial' displacement limit for an acceptable NVH factory inline four-cylinder engine was two liters.
There is an expansion of the manufacturing sector across different nations like India and China. For the global automotive sector, Asia-Oceania has developed as an important market. The key driver of this trend is the Chinese market, which has grown to become the world's largest producer and buyer of automobiles. India, South Korea, and Japan are the region's other main country-level marketplaces. While India is progressively establishing itself as a credible automotive player, Japan, and South Korea are already household names. Due to enormous growth potential, India and China represent the best possible, with various regional and worldwide automotive manufacturers opening facilities there. India was the world's fourth-largest automobile market in 2019, with domestic production exceeding 26 million units for the fiscal year 2016-2020, and over 21 million vehicles sold at the start of 2020.
The China market dominated the Asia Pacific Automotive Balance Shaft Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,428 Million by 2027. The Japan market is poised to grow at a CAGR of 4% during (2021 - 2027). Additionally, The India market would exhibit a CAGR of 5.3% during (2021 - 2027).
Based on Manufacturing Process, the market is segmented into Forging, and Casting. Based on Application, the market is segmented into Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles. Based on Sales Channel, the market is segmented into Original Equipment Manufacturer, and Aftermarket. Based on Engine Type, the market is segmented into Inline 4-cylinder Engine, Inline 3-cylinder Engine, Inline 5-cylinder Engine, and V6 Engine. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Automotive Balance Shaft Market is Projected to reach USD 13.2 Billion by 2027, at a CAGR of 4.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include American Axle & Manufacturing, Inc., Engine Power Components, Inc., Hirschvogel Group, Linamar Corporation, MAT Foundry Group Ltd., Musashi Seimitsu Industry Co., Ltd., Ningbo Jingda Hardware Manufacture Co., Ltd., Otics Corporation, Sansera Engineering Limited, and TFO Corporation.
By Manufacturing Process
By Application
By Sales Channel
By Engine Type
By Country
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