VEHICLE BALANCE SHAFT MARKET ANALYSIS

Regional Analysis

Global Vehicle Balance Shaft Market: Regional Insights

The global vehicle balance shaft market is segmented on the basis of regions into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The vehicle balance shaft market in North America is expected to exhibit the CAGR during the forecast period. This growth is attributed to growing stringency of regulatory bodies towards reducing carbon footprint and emissions, and is also a major factor propelling growth of the regional market. For instance, Corporate Average Fuel Economy (CAFÉ) Standards in the U.S. is propagating adoption of energy efficient automotive by formulating regulations for reduction of petroleum consumption and enhancing utilization of alternative fuel vehicles such as hybrid vehicles. This in turn, creates a highly conducive environment for growth of the global vehicle balance shaft market.

The market for vehicle balance shaft in Asia Pacific region accounted for the largest market share in 2016 and it is expected to retain its dominance over the forecast period. The growth in this region is attributed to presence of some of the world’s largest manufacturing and sales hubs in the region. According to Coherent Market Insights’ analysis, vehicles production of the countries, including China, India, Japan, South Korea, and Thailand accounted for over 50% of the global production. Hence, increasing vehicle production further demands for balance shaft in this region.