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The automotive balance shaft market size is forecast to increase by USD 2.87 billion at a CAGR of 7.15% between 2023 and 2028. The market is driven by the advancements in engine technology, particularly in the design of inline 4-cylinder engines. Eccentric weights in these engines help counteract centrifugal forces, improving engine performance and reducing carbon emissions. Fuel efficiency is a significant trend in the automotive industry, leading to the development of more efficient engines. Additionally, the rise of electric vehicles and luxury vehicles is impacting the market, as these vehicles often employ sophisticated balance shaft systems to ensure smooth engine operation. The integration of smart mobility solutions, such as car-sharing services and ride-hailing apps, is also contributing to a decline in car ownership, which may impact market growth.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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