Balance Shafts Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company’s Balance Shafts Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 27, 2024 /EINPresswire.com/ -- The balance shafts market has shown robust growth recently, expanding from $13.14 billion in 2023 to an estimated $14 billion in 2024, reflecting a CAGR of 6.6%. This growth is driven by the automotive industry's expansion, heightened focus on engine performance to meet stringent emission standards, and rising consumer demand for smoother driving experiences, particularly in high-performance vehicles. Looking ahead, the market is projected to continue its strong growth, reaching $17.42 billion by 2028 at a CAGR of 5.6%.

Automotive Industry Expansion Driving Market Growth
The automotive industry's expansion plays a pivotal role in propelling the balance shafts market forward. Balance shafts are integral in reducing vibrations and enhancing engine performance, efficiency, and durability in vehicles. With the rising production and sales of passenger cars globally, the demand for balance shafts continues to escalate. For example, in the UK, passenger car sales surged by 25.8% from 2022 to 2023, indicating a substantial market growth driver.

Explore the global balance shafts market with a detailed sample report: https://www.thebusinessresearchcompany.com/sample_request?id=13384&type=smp

Major Players and Market Trends
Key players such as Linamar Corporation, American Axle & Manufacturing Holdings Inc., and Schaeffler Technologies AG & Co. KG are focusing on innovating balance shaft technologies to maintain a competitive edge. These innovations include the development of twin-scroll balance shafts, advanced materials for construction, and the integration of variable valve timing (VVT) systems, which enhance engine performance and reduce noise, vibration, and harshness (NVH).
In a strategic move, Laser Tools introduced a specialized balance shaft removal and installation kit for Jaguar/Land Rover AJ200 2.0-liter diesel engines in 2022. This kit, identified as part number 8271, facilitates safe removal, refitting, and alignment of gear-driven balance shafts in specific vehicle models, underscoring the industry's commitment to enhancing operational efficiency and performance.

Balance Shafts Market Segments
• Engine Type: Inline-3 Cylinder Engine, Inline-4 Cylinder Engine, Inline-5 Cylinder Engine, V6 Engine
• Manufacturing Process: Casting, Forging
• Application: Passenger Cars, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)

Regional Insights: North America Leads, Asia-Pacific Shows Fastest Growth
North America emerged as the largest region in the balance shafts market in 2023, driven by robust automotive manufacturing and technological advancements. Meanwhile, Asia-Pacific is expected to witness the fastest growth during the forecast period, fueled by the region's increasing automotive production, adoption of electric and hybrid vehicles, and focus on improving vehicle comfort and NVH reduction.

Make your report purchase here and explore the whole industry's data as well: https://www.thebusinessresearchcompany.com/report/balance-shafts-global-market-report

Balance Shafts Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Balance Shafts Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on balance shafts market size, balance shafts market drivers and trends, balance shafts market major players, competitors' revenues, market positioning, and market growth across geographies. The balance shafts market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

Browse Through More Similar Reports By The Business Research Company:

Aircraft Nacelle And Thrust Reverser Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/aircraft-nacelle-and-thrust-reverser-global-market-report

Domestic Aviation Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/domestic-aviation-global-market-report

Automotive Metal Timing Chain Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/automotive-metal-timing-chain-global-market-report

About The Business Research Company
The Business Research Company has published over 27 industries, spanning over 8000+ markets and 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Global Market Model – Market Intelligence Database
The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.

Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293

Oliver Guirdham
The Business Research Company
+44 20 7193 0708
info@tbrc.info
Visit us on social media:
Facebook
X
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.