Balance Shaft Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
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A balance shaft is designed to vibrate and rotate in such a way that it can reduce the vibration produced by an engine. Balance shafts are frequently used for engine refinement. A tow shaft is being utilized by four cylinder engines which goes in opposite directions on either side of engine’s crankshaft. A single balance shaft is used in three cylinder and V6 engines. The balance shaft is a complex part of automotive which needs to be designed precisely. This is to make sure that it is compatible with the engines and its system. The material casted off to manufacture balance shafts plays a dynamic role in contributing to its overall weight. Most original equipment manufacturers (OEMs) utilize aluminum balance shafts for reduced weight and additional strength. The automotive engine especially those having with asymmetric design, experiences a second level of vibration. Also, the well-balanced engines with asymmetric design experience the second level vibration. The automotive balance shaft is integrated with the vehicle engines for offsetting the vibration effect that the engine creates. Forged balance shafts are compact, lighter and can inherent damping more effectively as compared with casted balance shafts.
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The demand for automotive balance shaft is forecasted to grow in the future as the demand for noise, vibration and harshness free engines is increasing globally. The demand for inline-4 cylinder engine is growing especially in the Asia Pacific region due to prominent growth in automobile industry in the said region. There is rise in demand for environmental friendly vehicles. This is due to the strict government emission regulations. Original equipment manufacturers of automotive are integrating balance shaft in the vehicles to offer vehicle engines with reduced noise, harshness and vibration. Such factors are fueling the growth of the balance shaft market. Original equipment manufacturers (OEMs) are increasing using aluminum balance shafts for their weight and strength advantage. There is rising trend of fuel efficiency, reduced co2 emissions, and weight which is contributing to the growth of balance shaft market. Thus, factors such as rising demand for vehicles equipped with inline-4 cylinder engines and need for reduction in engine NvH levels, are expected to drive the market during the forecast period.
The balance shaft market faces certain challenges such as monotonous replacement procedure of balance shaft. Moreover, manufacturing of long-lasting balance shafts is less cost-effective. Furthermore, the growing importance of luxury vehicles with high-performance engines electric vehicles and increasing sales of sports utility vehicles are inhibiting the global balance shaft market growth. Thus, rise in shift in focus towards electric vehicles is expected to restrict the market growth during the forecast period.
Market for balance shaft can be segmented on the basis of engine type, manufacturing process and geography. The market can be segmented on the basis of engine type into inline-3 cylinder, inline-4 cylinder, inline-5 cylinder, and V-6 cylinder. The manufacturing process segment can be segmented into forged and cast balance shaft. The balance shaft is manufactured either through forging or casting. Balance shafts can be forged from a steel bar, usually through roll forging. Forged balance shafts are widely adopted, due to their lightness, compact dimensions, and effective inherent damping. The balance shaft market is segmented into Asia Pacific, Europe, North America, Middle East & Africa (MEA), and South America on the basis of geography.
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Key players for 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. The companies are adopting various strategies such as acquisitions and mergers, product innovation to gain competitive advantage in the market.
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