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MINERALS, METAL & MINING

Malaysia Stainless Steel (SS) Shaft Market Segmentation By Grade (SS301 & 302, SS303 & 304, SS310, SS316 & 317, SS321, SS347, SS410, SS416, SS420 and Others); By Diameter (3mm, 6mm, 12mm, 14mm, 19mm, 29mm, 47mm, 50mm, 54mm, 76mm, and 80mm); and By Verticals (Aerospace, Automotive, Food Processing Equipment, Construction, Pump & Motor Industry, and Others) – Regional Demand Analysis & Opportunity Outlook 2027

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Extensive insights into the Growth of Malaysia Stainless Steel (SS) Shaft Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS
  • April 2019: Nippon Steel BlueScope Malaysia completed the acquisition of YKGI Holdings Berhad’s facility in Klang, Malaysia on 16th of April, 2019. The assets that have been acquired comprised of a Push-Pull Pickling Line, Cold Rolling Mill, Continuous Galvanizing Line and a Continuous Color Coating Line.

Introduction to Stainless Steel Shaft

Stainless steel (SS) shaft is a finished steel product used across industries for a varied number of applications. Usually, shafts are used in industrial machineries for the transmission of power from one part to another, and are usually circular in cross section. It is available in variety of materials, sizes, and grades, and are primarily classified as transmission shafts or machine shafts, based upon their application.

A Stainless Steel Shaft and Schematic Diagram

Market Overview and Growth Highlights

The rising awareness and increasing acceptance of high quality shaft material from large and heavy end use industry is believed to benefit the expansion of Malaysia SS shaft market. In addition, stainless steel is also known to exhibit superior chemical properties, which is aiding to the increasing consumption of stainless steel shafts across industries. These factors are driving the manufacturers to develop and meet the demand for efficient stainless steel shafts. Further, the Malaysia SS shaft market is slated to grow at a highest CAGR of 4.02% over the forecast period 2020-2027. Further, the Malaysia SS shaft market accounted for USD 82.4 million in 2018 and is expected to reach USD 115.9 million by 2027. CLICK TO DOWNLOAD SAMPLE REPORT

Malaysia Stainless Steel Shaft Market Size

Market Segmentation Synopsis

By Grade

The Malaysia SS shaft market is segmented on the basis of grade into SS301 & 302, SS303 & 304, SS310, SS316 & 317, SS321, SS347, SS410, SS416, SS420 and others. SS303 & 304 segment is estimated to expand at a CAGR of around 4% over the forecast period and is showcasing great potential for the future growth of the segment. Additionally, the segment held a market share of 22% in the year 2018 and is further estimated to reach a market size of USD 26.5 Million by the end of 2027. SS304 grade finds massive utilization in the production of shafts for numerous industries that includes mining, aerospace, motor & pump, and food equipment. This steel grade is also used in other applications, such as, in the manufacturing of screw machine products, fittings, valves, instruments, bearings, screws, and exhaust manifolds.

Malaysia SS Shaft Market Share

By Diameter

The market is also segmented on the basis of diameter into 3mm, 6mm, 12mm, 14mm, 19mm, 29mm, 47mm, 50mm, 54mm, 76mm, and 80mm. 76mm segment is estimated to expand at a CAGR of 5% over the forecast period. The segment held a market size of 23% and a market share of USD 19 Million in the year 2018 and is further anticipated to reach USD 28.2 Million in the year 2027, with an absolute $ opportunity of USD 9.2 Million in-between these years, and growth of 1.48x. Shafts with diameter of 76 and 80 mm are mostly used in heavy industrial machinery, such as in construction machinery, heavy-duty automotive vehicles, aircraft, food equipment, and others.

Malaysia SS Shaft Market Share

By Verticals

The Malaysia SS shaft market is further segmented on the basis of vertical into Aerospace, Automotive, Food Processing Equipment, Construction, Pump & Motor Industry, and Others. Automotive segment is estimated to expand with a CAGR of 5% over the forecast period. The segment held a market share of 26% and a market size of USD 21.3 Million in the year 2018 and is further anticipated to reach USD 31.1 Million by the end of 2027 with growth of 1.46x. Moreover, the absolute $ opportunity of the segment was recorded at USD 9.8 Million in-between these years. The growth of the segment is driven by the vast opportunities offered by the nation for the global automotive and component manufacturers to setup their manufacturing and distribution operations.

Malaysia SS Shaft Market Share

Market Drivers & Challenges

Growth Indicators

The Malaysia SS shaft market is thriving on the back of extensive application in automotive sector in the nation as well as increasing demand for SS shafts from the pump and motor industry. SS shafts, also known as drive shaft in automotive, finds ample application in the automotive sector pertaining to their flexibility, reliability, ductility, formability and other physical characteristics, which not only provides greater strength to the body of the vehicle, but also helps in reducing the overall kerb weight. Moreover, the increasing production of automobiles in Malaysia is also raising the demand for greater consumption of the product across the automotive industry. According to Malaysian Automotive Association, total of passenger and commercial vehicles produced and assembled in Malaysia grew from 533515 unit numbers in the year 2011 to 564971 unit numbers in the year 2018.

Passenger and Commercial Vehicles Produced and Assembled in Malaysia

Barriers

Fluctuation in the prices of iron ore and coking coal, which is primarily used to manufacture stainless steel, is among one of the major factors that is obstructing the growth of the Malaysia SS shaft market. The fluctuation in price of the raw materials is due to the increase in consumption of steel-based products in Malaysia, which has raised the demand for greater consumption of the raw material across industries. All of these factors are anticipated to have a negative impact on the growth of the Malaysia SS shaft market.

Competitive Landscape

Some of the affluent industry leaders in the Malaysia SS shaft market are Shunto Steel Industries Sdn Bhd, P R Components Pvt. Ltd., Nippon Steel Engineering Co., Ltd., Tata Steel, K. Seng Seng Corporation Bhd, Ann Joo Resources Berhad, and Lion Group Management Services Sdn Bhd.

Moreover, manufacturers in the steel industry are making various efforts to expand their product portfolio by continuously focusing towards the advancement and diversification of the products so as to strengthen their market position  and thereby gain competitive edge in the Malaysia SS shaft market

Introduction

Market Definition

Market Segmentation & Product Overview

Executive Summary

Assumptions and Abbreviations

Research Methodology

Market Dynamics

Drivers

Restraints

Industry Analysis

Manufacturing Standards & Compliances

Risk Analysis

Production & Consumption of Steel in Malaysia

Malaysia’s Top Steel Producers Outlook

Pricing Analysis

Trade Outlook

Malaysia Stainless Steel Shaft Market

Market Economic Indicators

Market Size & Forecast (Value & Volume)

Market Segmentation by:

Grade

Diameter

Verticals

Competitive Scenario

Top Stainless Steel Manufacturers

Key Suppliers of Stainless Steel Shaft

Company Profiles

Stainless Steel Shaft Manufacturers

Steel Manufacturers


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