Research Nester has released a report titled “Malaysia Stainless Steel (SS) Shaft Market – Regional Demand Analysis & Opportunity Outlook 2027” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
Malaysian Automotive Association in one of their statistics stated that of total number of passenger and commercial vehicles produced and assembled in the nation reached 564971 units in the year 2018 from 533515 units in the year 2011.
The statistics portray the rising automotive industry, which will also raise the demand for parts and products required in the manufacturing of the vehicles. Technical advancements in the automotive sector, coupled with, increasing awareness for the utilization of stainless steel as a raw material for the manufacture of vehicle parts, all of these factors are contributing significantly towards the growth of the Malaysia Stainless Steel (SS) shaft market.
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Furthermore, with the rising automotive industry, it is also anticipated that the demand for drive shafts, which is manufactured using stainless steel, will grow multifold, thereby promoting significantly towards the growth of the market.
The Malaysia SS shaft market is anticipated to record a CAGR of 4.02% during the forecast period, i.e. 2020-2027. The market is segmented by grade into SS301 & 302, SS303 & 304, SS310, SS316 & 317, SS321, SS347, SS410, SS416, SS420 and others. Among these segments, SS303 & 304 segment is estimated to hold the largest market share of around 22% in the year 2018. The growth of the segment is anticipated to be driven by the substantial utilization of the segment in manufacturing of fittings, valves and others, as well as in the production of shafts. Moreover, the segment is anticipated to achieve a market size of USD 26.5 Million with a CAGR of around 4% by the end of 2027.
The market is further segmented by diameter into 3mm, 6mm, 12mm, 14mm, 19mm, 29mm, 47mm, 50mm, 54mm, 76mm, and 80mm. Among these segments, 76mm segment is anticipated to hold the largest market share, of around 23% in the year 2018. The growth of the segment is anticipated to be driven by its enormous application in construction machinery, heavy-duty automotive vehicles, aircraft, food equipment, and other heavy industrial machinery. Moreover, the segment is anticipated to achieve a market size of USD 28.2 Million with a CAGR of around 5% by the end of 2027.
However, rising concerns for raw material price fluctuations and thereby the increased product costs, is expected to operate as key restraints to the growth of the Malaysia stainless steel (SS) shaft market.
This report also studies existing competitive scenario of some of the key players of the Malaysia stainless steel (SS) shaft market, which includes profiling of Shunto Steel Industries Sdn Bhd, P R Components Pvt. Ltd., Nippon Steel Engineering Co., Ltd. (TYO: 5401), Tata Steel (NSE: TATASTEEL), K. Seng Seng Corporation Bhd (KLSE: KSSC), Ann Joo Resources Berhad (KLSE: ANNJOO), and Lion Group Management Services Sdn Bhd (CNSX: LION).
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Malaysia Stainless Steel (SS) Shaft Market – Regional Demand Analysis & Opportunity Outlook 2027”, analyses the overall Malaysia stainless steel (SS) shaft industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the Malaysia stainless steel (SS) shaft market in the near future.
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