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
Buy NowIntroduction
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
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.
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.
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.
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
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.
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.
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