Press release
Innovation To Be A Building Block Of The Rail Wheel And Axle Market
Owing to increasing automotive sales and vehicle fleet, the demand for Automotive Shaft Pin is also estimated to witness significant growth in the coming years. This in turn is expected to contribute to the growing market of Automotive Shaft Pin across the globe during the forecast period.
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FACTS AT A GLANCE
Companies: ACDelco,Oxford Bond Sdn. Bhd,SPIROL International Corporation,Vedali Hardware Co., Ltd,Crown Automotive,WAS SHENG ENTERPRISE CO., LTD.
Coverage: All major geographies and key segments
Segments: Automotive Shaft Pin Market Segmented By Product type such as Drive Shaft, Differential Shaft Pin, Axle Shaft Pin, Gear Shaft Pin, Transmission Shift Shaft Pin, Propeller Shafts Pin, Pinion Shaft Pin with Vehicle type such as Passenger Car, Light Commercial Vehicles, Heavy Commercial Vehicles
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Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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ABSTRACT-
Sales of Automotive Shaft Pin is directly proportional to the automotive production rate and automotive fleet on road. Increasing demand for passenger cars is leading towards growing automotive production and automotive sales particularly in the developing regions. Growing automotive production is estimated to be key factor driving the demand for Automotive Shaft Pin across the globe.
Increasing automotive sales is continuously adding to the total vehicle fleet across the globe. This in turn is anticipated to create significant opportunities in the aftermarket sales segment for Automotive Shaft Pin market during the forecast period. The growing mining and construction sector across the globe has augmented the demand for heavy commercial vehicles.
Thus, this segment is projected to experience a high production rate, particularly in countries such as India and Japan as the two are major producer for heavy commercial vehicles in the world
Growing traction towards Electric Vehicles in the automotive industry is considered to be the key restraining factor in the global automotive shaft pin market. Electric Vehicles have relatively lesser number of shafts installed in its drivetrain as compared to a conventional vehicle, subsequently reducing the need for shaft pin. This in turn is estimated to significantly hinder the growth of global automotive shaft pin market during the forecast period.
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