Global Automotive Leaf Spring Market, By Spring Type (Parabolic Leaf Spring, Multi-Leaf Spring), Location Type (Front Suspension, Rear Suspension), Material Type (Metal Leaf Springs, Composite Leaf Springs), Manufacturing Process (Shot Peening, HP-RTM, Prepreg Layup, Others), Vehicle Type (Passenger Cars, Light Duty Vehicles, Medium and Heavy Duty Vehicles, Others), Distribution Channel (OEMs, Aftermarket), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Automotive Leaf Spring Market Analysis and Insights : Global Automotive Leaf Spring Market
The automotive leaf spring market size is valued at USD 6.10 billion by 2028 and is expected to grow at a compound annual growth rate of 6.20% over the forecast period of 2021 to 2028. Data Bridge Market Research report on automotive leaf spring market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
The automotive leaf spring is one of the essential components in automobile vehicles. The leaf springs are positioned between the wheels and the body of the automobile. When the wheel passes over a bump, it rises and redirects the spring, thus storing the energy in the spring.
The automotive leaf spring market has a huge potential and is expected grow over the forecast period of 2021 to 2028, owing to the increase in the demand for vehicle comfort for long run across the world. In addition, the rise in per capita disposal income leading into increased concern for the vehicles service and vehicle comfort thus is also largely influencing the growth of the automotive leaf spring market. Also the high demand for lightweight vehicles is driving the progression in the leaf spring technology which is another driver anticipated to flourish the automotive leaf spring market growth. Additionally, the rise in global fleet size of the light and heavy commercial vehicles is projected to generate significant demand for leaf spring in the aftermarket, thus is also expected to boost the growth of the automotive leaf spring market in the above mentioned forecast period.
However, the market of automotive leaf spring though has certain limitations which are expected to obstruct the potential growth of the market such as the poor suspension tuning as well as economic turmoil and political uncertainty, whereas the uncertainty and change in the trade policies can challenge the growth of the automotive leaf spring market in the above mentioned forecast period.
In addition, the high adoption of lightweight component and light weight vehicles to reduce the consumption of fuel along with the increase in adoption of lightweight components to reduce vehicle weight are projected to offer various growth opportunities for the automotive leaf spring market in the forecast period of 2021 to 2028.
This automotive leaf spring market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on automotive leaf spring market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Automotive Leaf Spring Market Scope and Market Size
The automotive leaf spring market is segmented on the basis of spring type, location type, material type, manufacturing process, vehicle type and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on spring type, the automotive leaf spring market is segmented into parabolic leaf spring and multi-leaf spring.
- Based on location type, the automotive leaf spring market is segmented into front suspension and rear suspension.
- On the basis of material type, the automotive leaf spring market is segmented into metal leaf springs and composite leaf springs.
- On the basis of manufacturing process, the automotive leaf spring market is segmented into shot peening, HP-RTM, prepreg layup and others.
- Based on vehicle type, the automotive leaf spring market is segmented into passenger cars, light duty vehicles, medium and heavy duty vehicles and others.
- The automotive leaf spring market is segmented on the basis of distribution channel into OEMs and aftermarket.
Automotive Leaf Spring Market Country Level Analysis
The automotive leaf spring market is analyzed and market size, volume information is provided by country, spring type, location type, material type, manufacturing process, vehicle type and distribution channel as referenced above.
The countries covered in the automotive leaf spring market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).
Asia-Pacific leads the automotive leaf spring market because of the highest production and consumption of commercial vehicles of China as well as the strong presence of emerging economies such as China, India, Japan, and South Korea. Europe is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the strong presence of various developed nations and as well as the high adoption of the composite automotive leaf springs.
The country section of the automotive leaf spring market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Leaf Spring Market Share Analysis
The automotive leaf spring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive leaf spring market.
The major players covered in the automotive leaf spring market report are Hendrickson USA, L.L.C., Sogefi SpA, Rassini, Jamna Auto Industries Ltd., Emco Industries, NHK SPRING Co. Ltd., Muhr und Bender KG, SGL Carbon, Frauenthal Holding AG, Eaton, OlgunCelik San. Tic. A.S., Jonas Woodhead & Sons ( I ) Ltd., MackSprings, Vikrant Auto Suspensions, Auto Steels, Kumar Steels, Akar Tools Limited India, Navbharat Industrial Corporation, Betts Spring Manufacturing, and Sonkem India Pvt. Ltd., among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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