Automotive Balance Shaft Market Research Report By Vehicle Type (Passenger Cars, Commercial Vehicles, Heavy Duty Vehicles), By Balance Shaft Type (Single Balance Shaft, Dual Balance Shaft), By Material (Steel, Aluminum, Composite Materials), By Application (Internal Combustion Engines, Electric Vehicles, Hybrid Vehicles), By Sales Channel (OEMs, Aftermarket) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

Automotive Balance Shaft Market Overview:

As per MRFR analysis, the Automotive Balance Shaft Market Size was estimated at 2.98 (USD Billion) in 2022. The Automotive Balance Shaft Market Industry is expected to grow from 3.09(USD Billion) in 2023 to 4.2 (USD Billion) by 2032. The Automotive Balance Shaft Market CAGR (growth rate) is expected to be around 3.49% during the forecast period (2024 - 2032).

Key Automotive Balance Shaft Market Trends Highlighted

Key market drivers for automotive balance shafts include the increasing demand for fuel-efficient and high-performance vehicles, stringent emission regulations, and advancements in engine design. The growing adoption of electric vehicles is creating new opportunities for the market, as balance shafts are used to reduce vibrations in electric motors. Recent trends include the development of lightweight and compact balance shafts, as well as the integration of sensors and actuators into balance shaft systems. The market is also seeing a rise in the adoption of predictive maintenance and condition monitoring technologies, which help to extend the lifespan of balance shafts and reduce operating costs.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Automotive Balance Shaft Market Drivers

Increasing Demand for Fuel-Efficient Vehicles

The automotive industry has been making significant efforts to increase the fuel efficiency of vehicles and reduce emissions. In this light, balance shafts have become an important component of the automotive engine as they reduce engine vibration and improve engine performance. The increase in fuel-efficient automotive vehicles has resulted in the unprecedented growth of the automotive balance shaft market. In addition, global fuel economy regulations are forcing automotive manufacturers to adopt balance shafts in new vehicles. Other factors, such as the increasing popularity of electric and hybrid vehicles, which require better engine designs, are fuelling the expansion of the automotive balance shaft market.

Growing Popularity of Advanced Driver Assistance Systems (ADAS)

Modern vehicles are more often equipped with ADAS technologies, including lane departure warning, adaptive cruise control, and automatic emergency braking. To ensure their proper operation, it is necessary to use engines that are characterized by accurate control. Utilization of balance shafts helps to ensure smooth and stable engine operation, and their use is critical because it allows maintaining engine operation, which is essential for ADAS. Since the use of ADAS technologies will become more and more widespread, it is possible to assume that the demand for related automotive balance shafts will also increase.

Rising Production of Passenger Cars and Light Commercial Vehicles

The global automotive industry is witnessing incessant growth in the production of passenger cars and light commercial vehicles. This growth is especially brisk in emerging markets, where the increasing income levels and surging demand for personal transportation are in line with the improving transportation infrastructure. As more and more vehicles are involved in traffic, the demand for automotive components, including the balance shafts, is expected to increase as well.

 Automotive Balance Shaft Market Segment Insights:

Automotive Balance Shaft Market Vehicle Type Insights  

The Automotive Balance Shaft Market is segmented by Vehicle Type into Passenger Cars, Commercial Vehicles, and Heavy Duty Vehicles. Out of these segments, Passenger Cars held the largest market share of around 65% in 2023, and it is expected to continue its dominance over the forecast period. The growth of the Passenger Cars segment can be attributed to the increasing production and sale of passenger cars across the globe. The commercial Vehicles segment is anticipated to witness a significant growth rate over the forecast period as a result of the rising demand for commercial vehicles in the logistics, transportation, and construction industries.

Meanwhile, the Heavy Duty Vehicles segment is anticipated to hold a substantial market share over the forecast period because heavy-duty vehicles are growingly becoming popular in mining and construction and other heavy-duty areas. By market size, the Automotive Balance Shaft Market for Passenger Cars is anticipated to reach USD 2.3 billion by 2024, growing at a CAGR of 3.8% from 2024 to 2032. The Commercial Vehicles segment is anticipated to reach a market size of USD 1.2 billion by 2024, growing at a CAGR of 4.2% from 2024 to 2032.

The Heavy Duty Vehicles segment is anticipated to reach a market size of USD 0.7 billion by 2024, growing at a CAGR of 3.6% from 2024 to 2032. The rise in the demand for vehicles that have increased fuel efficiency is driving the growth of the Automotive Balance Shaft Market. Additionally, the increasing production and sale of passenger cars and commercial vehicles, the growing demand for advanced technology by the automotive sector, and the continued rise in demand for automotive balance shafts by customers are the other factors that are fueling the growth of the market.

For example, there is substantial investment by key market players to bolster R activities with the aim of increased product performance for both the conventional and new methods that are becoming accepted by a substantial section of the market.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Automotive Balance Shaft Market Balance Shaft Type Insights  

The Balance Shaft Type segment of the Automotive Balance Shaft Market is divided into Single Balance Shafts and Dual Balance Shafts. It is projected that Single Balance Shaft will account for a larger share of the market in 2023, as it is less expensive and easier to design than Dual Balance Shaft. Dual Balance Shaft, in turn, is projected to exhibit a higher growth rate during the forecast period, as it is superior in reducing vibrations. The faster growth of Dual Balance Shaft can be attributed to the increasing demand for high-performance vehicles.

The Automotive Balance Shaft Market for Single Balance Shaft is anticipated to expand from USD 1.54 billion in 2023 to USD 1.98 billion by 2032, attaining a CAGR of 2.8%. The Automotive Balance Shaft Market for Dual Balance Shaft is expected to advance from USD 1.55 billion in 2023 to USD 2.22 billion by 2032, reaching a CAGR of 3.8%. The growth of the Automotive Balance Shaft Market can be ascribed to the rising production of passenger cars and commercial vehicles, as well as the increasing demand for higher engine performance and fuel efficiency. The market is also expected to benefit from the expanding preference for electric vehicles, which necessitate balance shafts to curb vibrations.

Automotive Balance Shaft Market Material Insights  

The Automotive Balance Shaft Market is segmented by Material into Steel, Aluminum, and Composite Materials. The Steel segment is the largest and is expected to continue to dominate the market over the forecast period. The Aluminum segment is expected to grow at a faster rate than the Steel segment over the forecast period due to its increasing use in lightweight vehicles. The growth of the market is attributed to the increasing demand for lightweight vehicles and the growing adoption of balance shafts in vehicles.

Automotive Balance Shaft Market Application Insights  

The application segment of the Automotive Balance Shaft Market is classified into Internal Combustion Engines, Electric Vehicles, and Hybrid Vehicles. Internal Combustion Engines held the largest market share in 2023 and are projected to maintain their dominance throughout the forecast period. This can be attributed to the extensive use of internal combustion engines in conventional vehicles. Electric Vehicles are anticipated to witness the highest growth rate during the forecast period due to the increasing adoption of electric vehicles and government initiatives promoting their use. Hybrid Vehicles are also expected to exhibit steady growth, owing to their fuel efficiency and reduced emissions compared to conventional vehicles. The rising demand for fuel-efficient and environmentally friendly vehicles is driving the growth of the market.

Automotive Balance Shaft Market Sales Channel Insights    

The Automotive Balance Shaft Market is segmented by Sales Channel into OEMs and Aftermarket. The OEM segment is expected to account for a larger share of the market in 2023, owing to the increasing production of new vehicles. The Aftermarket segment is expected to grow at a faster rate during the forecast period due to the rising demand for replacement parts and accessories. The Automotive Balance Shaft Market revenue is expected to reach USD 3.09 billion in 2023 and is projected to grow at a CAGR of 3.49% to reach USD 4.2 billion by 2032.

The market growth is attributed to the increasing demand for vehicles with improved fuel efficiency and reduced emissions. The Automotive Balance Shaft Market segmentation provides a detailed overview of the market, enabling stakeholders to identify high-growth segments and target specific customer groups. The data and statistics provided in this report are based on extensive research and analysis, ensuring reliability and accuracy. The insights derived from this segmentation will assist market participants in making informed decisions and developing effective strategies for business growth.

Automotive Balance Shaft Market Regional Insights  

The Automotive Balance Shaft Market is segmented into North America, Europe, APAC, South America, and MEA. In 2023, North America dominated the market with a revenue of 1.25 billion USD. Europe held the second-largest share with a revenue of 0.89 billion USD. APAC is expected to grow at the highest CAGR of 4.2% during the forecast period, owing to the increasing production of automobiles in the region. South America and MEA are also expected to witness significant growth in the coming years. The growth in the Automotive Balance Shaft Market is attributed to the rising demand for fuel-efficient and low-emission vehicles. Balance shafts help in reducing vibrations and noise in engines, which leads to improved fuel efficiency and lower emissions. Additionally, the increasing adoption of advanced technologies, such as variable valve timing and direct injection, is also driving the growth of the market.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Automotive Balance Shaft Market Key Players And Competitive Insights:

Most of the major players operating in the Automotive Balance Shaft Market focus majorly on developing highly proficient products. Companies are focusing on achieving higher growth rate owing to the methods adopted by most market players. Key players in the industry are focusing on investing huge amounts of money on research and development activities. A number of players are operating in the Automotive Balance Shaft Market. Hence, the market is highly competitive.

Key automotive balance shaft market companies are focusing on adopting several strategies, such as product differentiation and product innovation, to attract more customers. Furthermore, the Competitive Landscape of the Automotive Balance Shaft Market is likely to remain increasingly competitive over the forecast period. Therefore, new players and existing players are expected to bring further development in products and technologies adopted.

The Aisin Seiki Co., Ltd is one of the key companies operating in the Automotive Balance Shaft Market. The company offers a huge range of balance shafts for passenger cars, commercial vehicles and industrial machinery. Aisin Seiki Co., Ltd has a strong presence across the world, with a presence in several countries. Moreover, Aisin Seiki Co., Ltd’s products are highly proficient and exhibit high quality and high-end performance. In addition, the Aisin Seiki Co., Ltd is a major provider to various leading automakers across the globe.

The Federal-Mogul Corporation is a key player operating in the Automotive Balance Shaft Market. The company offers various products, including Automotive balance shafts. The company offers highly efficient balance shafts for automotive applications. The company has a strong presence in the global market, with a number of entities present across the globe. The Federal-Mogul Corporation’s products are also highly effective and performance-driven. The company is a major supplier to several leading automakers across the globe.

Key Companies in the Automotive Balance Shaft Market Include:

• Mahle GmbHPiston


• Aisin


• Dana Incorporated


• FederalMogul


• NTN


• ZF


• Mitsubishi Heavy Industries


• Schaeffler


• Tenneco Automotive


• Robert Bosch GmbH


• GMB


• BorgWarner


• GKN


• JTEKT

Automotive Balance Shaft Market Industry Developments

The Automotive Balance Shaft Market is projected to reach a valuation of USD 4.2 billion by 2032, expanding at a CAGR of 3.49% from 2024 to 2032. Rising demand for improved engine performance and fuel efficiency is driving market growth. Increasing adoption of balance shafts in passenger cars and light commercial vehicles is contributing to market expansion.

Furthermore, government regulations on emission reduction are stimulating demand for balance shafts. The market is witnessing strategic collaborations and partnerships among key players to enhance product offerings and expand market presence. Technological advancements, such as the development of lightweight and compact balance shafts, are also shaping the market landscape.

Automotive Balance Shaft Market Segmentation Insights

• Automotive Balance Shaft Market Vehicle Type Outlook


• Passenger Cars


• Commercial Vehicles


• Heavy-Duty Vehicles

• Automotive Balance Shaft Market Balance Shaft Type Outlook


• Single Balance Shaft


• Dual Balance Shaft

• Automotive Balance Shaft Market Material Outlook


• Steel


• Aluminum


• Composite Materials

• Automotive Balance Shaft Market Application Outlook


• Internal Combustion Engines


• Electric Vehicles


• Hybrid Vehicles

• Automotive Balance Shaft Market Sales Channel Outlook


• OEMs


• Aftermarket

• Automotive Balance Shaft Market Regional Outlook


• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa