Automotive Shaft Pin Market: Introduction
Automotive Shaft Pin can be considered as a holding device which is used to lock two shafts or devices in a vehicle. Automotive Shaft Pin is inserted to prevent disengagement at the point where shaft and the coupling meet and the torque is transferred. Automotive Shaft Pin finds its application in differential shafts, axle shafts, gear shafts, transmission shafts, propeller shafts and others. 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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Automotive Shaft Pin Market: Dynamics
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
Automotive Shaft Pin Market: Segmentation
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Automotive Shaft Pin Market: Regional Outlook
The market for Automotive Shaft Pin is expected to witness significant growth in the coming years owing to growing automotive industry across the developing region. rowing automotive production in countries such as Iran, India, ASEAN, Finland, Sweden, Russia, Netherlands, and Turkey is expected to create substantial opportunity in the Automotive Shaft Pin market in Europe and Asia Pacific region during the forecast period.
Developed regions such as North America account for relatively minor shares in the production of heavy commercial vehicles market. Therefore, the sales of automotive shaft pin for heavy commercial vehicles through OEM sales channel is expected to be relatively lesser.
However, in terms of total commercial vehicles sales, U.S. alone accounts for nearly 44% share. Increasing commercial vehicle sales in the region is estimated to project significant opportunities in the Automotive Shaft Pin Aftermarket sales channel. Growing total vehicle fleet in Latin America and Middle East & Africa region is also estimated to drive the demand for Automotive Shaft Pin market during the forecast period
Automotive Shaft Pin Market: Key Players
Examples of some of the market participants identified across the value chain of the global Automotive Shaft Pin market include:
- ACDelco
- Oxford Bond Sdn. Bhd
- SPIROL International Corporation
- Vedali Hardware Co., Ltd
- Crown Automotive
- WAS SHENG ENTERPRISE CO., LTD.
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