Harmonic Balancer Market By Type (Nodular Iron, Steel, and Aluminum), By Application (Passenger Vehicle, Light Commercial Vehicle, and Heavy Commercial Vehicle), Industry Trends, Estimation & Forecast, 2023-2030

Harmonic Balancer market is estimated to reach $18.4 billion by 2030; growing at a CAGR of 3.5% till 2030
  • Market Overview

    A Harmonic Balancer is part of the mechanical components fitted to the end of the crankshaft of an internal combustion engine that primarily dampens the vibrations of the engine to ensure the smooth running of the automotive vehicle over a more extended period.

    Harmonic Balancer market was valued at 14 billion US$ in 2022 and is estimated to reach $18.4 billion by 2030; growing at a CAGR of 3.5% till 2030

    Harmonic Balancer Market Revenue by, 2022-2030


    Industry Forces

    The increase in sales volume of automobile vehicles, with comprehensive integration of dampers to improve engine performance-enhancing customer experience with automobiles, and rising product demand from medium- and heavy-duty commercial vehicles are the primary factors driving the market growth. In addition, the need to improve engine performance attached to commercial vehicles dealing with heavy industrial loads have influenced the demand for integration of harmonic dampers to optimize vehicular tonnage capacity. However, high costs of product maintenance to eliminate risks of product failure might hamper market growth. The increase in vibrations of the motor might often indicate that the damper part needs to undergo servicing, which would further add up to the costs and expenses from the customers’ side. The continued research & improvement of vehicular suspension technology would provide lucrative opportunities for the market in the coming years. The technological improvement is primarily aimed at the proper functionality of the vehicular suspension components, that would restrict vibrations of the engine. The research endeavours undertaken would generate renewed interest in the up-gradation of product capabilities for harmonic balancers, offering new opportunities for product application over the forecast period.

    Market Segmentation

    The global Harmonic Balancer market is mainly classified based on Type and Application. Type is further segmented into Nodular Iron, Steel, and Aluminum. By Application, the market is divided into Passenger Vehicle, Light Commercial Vehicle, and Heavy Commercial Vehicle.

    The Aluminum segment by Type holds a considerable share in terms of market value and volume owing to the lightweight properties of the material and its heightened performance with minimal risk of corrosive erosion and eradication.

    In terms of consumption volume, the Passenger Vehicle segment was valued at XX Million Units in 2019 and is expected to reach XX Million Units; growing at a CAGR of 3.5%. The rising consumer interest in the purchase of vehicles and an increase in consumer’s disposable income in developing countries would ensure continued integration of harmonic balancers in the passenger vehicles, ensuring segment growth in the coming years.

    Regional Analysis

    Based on geography, the global Harmonic Balancer market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The regional analysis is segmented by countries in terms of value and volume. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe.

    Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

    Asia-Pacific is a prominent region of the market with a considerable market share in terms of value and volume. The extensive product integration in passenger as well as commercial vehicles, with increasing harmonic balancer consumption in medium- and heavy-duty vehicles to cater to the upgraded industrialization demands are the primary regional growth factors.

    Competitive Players
    The Harmonic Balancer market is highly fragmented, with several global and regional players competing in the existing market scenario to expand business opportunities through rising product sales, intensifying market competitiveness.

    Key players operating in the Harmonic Balancer industry include Schaeffler Group, ZF Friedrichshafen AG, Valeo, Dayco, Dorman Products, Continental AG, BorgWarner, Knorr-Bremse Group, Geislinger, Co.r.a. S.r.l., Gates Corporation, Vibratech TVD, and VOITH.

    The rapid product implementation in a wide range of automotive vehicles and expansion of business opportunities through extensive manufacturing and distribution facilities are the primarily followed business strategies of top players looking to capture substantial market share.

    Harmonic Balancer Market Key Segments

    By Type
    • Nodular Iron
    • Steel
    • Aluminum

    By Application
    • Passenger Vehicle
    • Light Commercial Vehicle
    • Heavy Commercial Vehicle

    By Geography

    • North America
    o The U.S.
    o Canada
    o Mexico

    • Europe
    o U.K
    o Germany
    o France
    o Italy
    o Rest of Europe

    • Asia Pacific
    o India
    o China
    o Japan
    o South Korea
    o Rest of Asia Pacific

    • South America
    o Brazil
    o Argentina
    o Rest of South America

    • Middle East & Africa
    o GCC Countries
    o Egypt
    o South Africa
    o Rest of Middle East & Africa

    Key Global Harmonic Balancer Industry Players

    • Schaeffler Group
    • ZF Friedrichshafen AG
    • Valeo
    • Dayco
    • Dorman Products
    • Continental AG
    • BorgWarner
    • Knorr-Bremse Group
    • Geislinger
    • Co.r.a. S.r.l.
    • Gates Corporation
    • Vibratech TVD
    • VOITH

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  • Table of Content

    1. Market Introduction
    1.1. Executive Summary
    1.2. Market Definition
    1.3. Market Scope

    2. Research Methodology
    2.1. Primary Research
    2.2. Research Methodology
    2.3. Assumptions & Exclusions
    2.4. Secondary data sources

    3. Harmonic Balancer Market Overview
    3.1. Report Segmentation & Scope
    3.2. Key Market Trend
    3.3. Drivers
    3.3.1. Increase in sales volume of automobile vehicles
    3.3.2. Rising product demand from medium- and heavy-duty commercial vehicles
    3.4. Restraints
    3.4.1. High costs of product maintenance to eliminate risks of product failure
    3.5. Opportunity
    3.5.1. Continued research & improvement of vehicular suspension technology
    3.6. Porter’s Five Forces Analysis
    3.6.1. Porter’s Five Forces Analysis
    3.7. Market Share Analysis

    4. Type Overview
    4.1. Introduction
    4.1.1. Market Size & Forecast
    4.2. Nodular Iron
    4.2.1. Market Size & Forecast
    4.3. Steel
    4.3.1. Market Size & Forecast
    4.4. Aluminum
    4.4.1. Market Size & Forecast

    5. Application Overview
    5.1. Introduction
    5.1.1. Market Size & Forecast
    5.2. Passenger Vehicle
    5.2.1. Market Size & Forecast
    5.3. Light Commercial Vehicle
    5.3.1. Market Size & Forecast
    5.4. Heavy Commercial Vehicle
    5.4.1. Market Size & Forecast

    6. Harmonic Balancer Market Regional Overview
    6.1. Introduction
    6.1.1. Market Size & Forecast
    6.2. North America Harmonic Balancer Market
    6.2.1. North America Market Size & Forecast, By Country
    6.2.2. North America Market Size & Forecast, By Type
    6.2.3. North America Market Size & Forecast, By Application
    6.2.4. U.S.
    6.2.4.1. Market Size and Forecast
    6.2.5. Canada
    6.2.5.1. Market Size and Forecast
    6.2.6. Mexico
    6.2.6.1. Market Size and Forecast
    6.3. Europe Harmonic Balancer Market
    6.3.1. Europe Market Size & Forecast, By Country
    6.3.2. Europe Market Size & Forecast, By Type
    6.3.3. Europe Market Size & Forecast, By Application
    6.3.4. Germany
    6.3.4.1. Market Size and Forecast
    6.3.5. France
    6.3.5.1. Market Size and Forecast
    6.3.6. UK
    6.3.6.1. Market Size and Forecast
    6.3.7. Italy
    6.3.7.1. Market Size and Forecast
    6.3.8. Spain
    6.3.8.1. Market Size and Forecast
    6.3.9. Rest of Europe
    6.3.9.1. Market Size and Forecast
    6.4. Asia-Pacific Harmonic Balancer Market
    6.4.1. Asia-Pacific Market Size & Forecast, By Country
    6.4.2. Asia-Pacific Market Size & Forecast, By Type
    6.4.3. Asia-Pacific Market Size & Forecast, By Application
    6.4.4. Japan
    6.4.4.1. Market Size and Forecast
    6.4.5. China
    6.4.5.1. Market Size and Forecast
    6.4.6. Australia
    6.4.6.1. Market Size and Forecast
    6.4.7. India
    6.4.7.1. Market Size and Forecast
    6.4.8. South Korea
    6.4.8.1. Market Size and Forecast
    6.4.9. Rest of Asia-Pacific
    6.4.9.1. Market Size and Forecast
    6.5. South America Harmonic Balancer Market
    6.5.1. South America Market Size & Forecast, By Country
    6.5.2. South America Market Size & Forecast, By Type
    6.5.3. South America Market Size & Forecast, By Application
    6.5.4. Brazil
    6.5.4.1. Market Size and Forecast
    6.5.5. Argentina
    6.5.5.1. Market Size and Forecast
    6.5.6. Rest of South America
    6.5.6.1. Market Size and Forecast
    6.6. Middle East & Africa Harmonic Balancer Market
    6.6.1. Middle East & Africa Market Size & Forecast, By Country
    6.6.2. Middle East & Africa Market Size & Forecast, By Type
    6.6.3. Middle East & Africa Market Size & Forecast, By Application
    6.6.4. GCC Countries
    6.6.4.1. Market Size and Forecast
    6.6.5. Egypt
    6.6.5.1. Market Size and Forecast
    6.6.6. South Africa
    6.6.6.1. Market Size and Forecast
    6.6.7. Rest of Middle East & Africa
    6.6.7.1. Market Size and Forecast

    7. Company Profile
    7.1. Schaeffler Group
    7.1.1. Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
    7.1.2. Schaeffler Group Product Category, Application, and Specification
    7.1.3. Schaeffler Group Financial Performance (2016-2018)
    7.1.4. Main Business/Business Overview
    7.2. ZF Friedrichshafen AG
    7.3. Valeo
    7.4. Dayco
    7.5. Dorman Products
    7.6. Continental AG
    7.7. BorgWarner
    7.8. Knorr-Bremse Group
    7.9. Geislinger
    7.10. Co.r.a. S.r.l.
    7.11. Gates Corporation
    7.12. Vibratech TVD
    7.13. VOITH

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What Report Provides?

• Full in-depth analysis of the parent Industry
• Important changes in market and its dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional growth potential

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