LONDON--(BUSINESS WIRE)--May 17, 2018-- projects the to post a CAGR of close to 5% during the forecast period, 2018-2022. Performance benefits associated with the use of balance shafts in engines is a key driver, which is expected to impact market growth.
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Technavio has published a new market research report on the global automotive balance shaft market from 2018-2022. (Graphic: Business Wire)
The global automotive balance shaft market is witnessing growth in sync with the rise in sales volume of vehicles offered with in-line series of engines. The use of balance shafts for automotive engines helps determine the overall performance and increases the efficiency of in-line engine layouts; these advantages have led to the increased penetration rate of balance shaft in such engines.
In this report, Technavio highlights the developments in the field of balancer shafts system as one of the key emerging trends to drive the global automotive balance shaft market:
Developments in field of balancer shafts system
The designs and materials used to manufacture automotive balance shafts are undergoing developments. Most in-line cylinder engine configurations involve the use of two balancer shafts. However, automakers have been working on the designs of single-balancer shafts, which can reduce design complexities and help in weight reduction. Manufacturers of automotive balance shafts are providing solutions that combine balancer shafts and oil pumps into one module. For instance, Hitachi’s automotive division, Hitachi Automotive System, offers a new generation of vane-type oil pumps that integrate balancer shafts.
According to a senior analyst at Technavio for research , “The vane-type oil pumps offer compact solutions that help reduce design complexities and offer efficient products to OEMs. Similarly, other automotive balance shaft producers are working on the design of balance shafts, which can be integrated with other systems and components.Such developments augur well for the growth of the market.”
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Market segmentation and analysis through 2022
In 2017, the global automotive balance shaft market was led by APAC which accounted for 60% of the market share, followed by EMEA and the Americas. The market share of APAC is expected to increase by a further 3% over the forecast period, while that of the other two regions will decline.
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SOURCE: Technavio Research
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PUB: 05/17/2018 07:06 AM/DISC: 05/17/2018 07:06 AM