Recent findings of a report by Fact.MR suggests that the market-growth rate of balancing rods will substantially rise in 2021. As the global economy takes the leap, market sales will experience a dramatic surge.
The Fact.MR report is based on a market analysis of the Balance rods industry for 2016-2021. The market forecast and analysis are provided for 2021-2031.
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Segmentation:
The global balance rods market can be segmented into material type, application, and end-use.
On the basis of material type, the global market is segmented into:
- Rubber
- Steel
- Composite
On the basis of application, the global market is segmented into:
- Vibration Testing
- Material Testing
- Balancing Systems
On the basis of end-users, the global is segmented into:
- Automotive Industry
- Rolling Stock Building Industry
- Aviation and Aerospace Industry
- Others
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Competitive Interface:
Key manufacturers of Balance rods are
- American Axle & Manufacturing, Inc.
- American Hofmann Corporation.
- Balance Motorsport
- Carrillo Industries
- City Motor Co.
- DIAMOND INTERNATIONAL
- H T Howard & Co. Ltd
- Schenck RoTec GmbH
- Tackle Warehouse LLC
- TIRA GmbH
Regional Outlook:
The market is majorly driven by regions such as North America and Western Europe. The key players in the global rods market are mostly from Germany, France, the U.K., the U.S., and Japan.
These countries are the market hubs for industries such as automotive, and aviation, and aerospace, as they are mostly deployed in these industries. European countries are the leading in the rolling stock building industry, which drives the market.
Asian countries such as Japan, South Korea, China, and India are leading in the automotive industry. The growth of the automotive industry in these countries has driven the market in Asia.
During the forecast period, it is expected that the market will be driven by South East Asian countries such as Indonesia, Vietnam, and the Philippines, and this is due to the growth of the automotive industry.
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