![Global Automotive Balance Shaft Market](https://res.cloudinary.com/devmoveo/image/upload/v1692016827/skyquest/gallery/Global-Automotive-Balance-Shaft-Market.jpg)
Report ID: SQMIG25A2148
Report ID:
SQMIG25A2148 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
64 |
Figures:
65
Asia Pacific emerges as the most promising and lucrative market for the automotive balance shaft segment, mainly due to the flourishing automotive industry. Countries like India and China present significant growth opportunities, attracting both regional and global automotive manufacturers to establish their production facilities in these markets.
As of 2022, India ranked as the fourth-largest automotive market globally, recording domestic production exceeding 26 million units during the forecast period, and over 21 million vehicles were sold at the start of 2020. Likewise, China witnessed a remarkable upswing of more than 12% in October 2020, despite the challenging economic environment created by the COVID-19 pandemic.
Despite the pandemic-induced recession, the Asian automotive sector is projected to bounce back, ensuring sustained demand for the automotive balance shaft market throughout the forecast period.
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Report ID: SQMIG25A2148