Automotive Leaf Spring Market Research Report 2019-2025Posted by Miller on October 7th, 2019 The global automotive leaf spring market is estimated to witness 6.5% CAGR during the forecast period, 2019–2025. An automotive leaf spring is used as a suspension system to support the vehicle by absorbing the bumps on uneven road tracks. Such springs comprise leaves and consist of one or more leaves. They are one of the traditional suspension systems for the wheeled vehicles. They are mainly used in LCVs and HCVs. The manufacturing process for the automotive leaf springs include center hole punching, shearing of flat bar, heating process, and heating treatment.
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Automotive Leaf Spring Market is segmented by Type (Parabolic, Elliptic, Semi-Elliptic and others), Material (Metal and Composite), Sales Channel (OEM and Aftermarket), Vehicle Type (Passenger Car, Light Commercial Vehicle and Heavy Commercial Vehicle) and Region (North America, Europe, Asia-Pacific and the Rest of the World) and Forecast till 2025
Automotive Leaf Spring Market Key Companies Studied In This Research Report:
The Prominent Players in the global automotive leaf spring market include Rassini (Mexico), Hendrickson USA, L.L.C. (US), Sogefi SpA (Italy), Jamna Auto Industries (India), Emco Industries (India), LITEFLEX (US), IFC Composite GmbH (Germany), NHK Springs Co. Ltd (Japan), Benteler-SGL (Austria), and OlgunCelik San. Tic. A.S (Turkey).
Automotive Leaf Spring Market Analysis 2019:
The global automotive leaf spring market is segmented based on type, material, sales channel, vehicle type, and region. On the basis of type, the market has been segmented into parabolic, elliptic, semi-elliptic, and others. The parabolic type segment is expected to dominate the global market in terms of value and volume during the forecast period. The semi-elliptic type segment is expected to be the fastest growing segment in the global automotive leaf spring market during the forecast period. On the basis of material, the market has been segmented into metal and composite. The metal segment is expected to dominate the global market in terms of both, value and volume during the forecast period. On the basis of sales channel, the market has been segmented into OEM and aftermarket. The OEM segment is expected to dominate the global market in terms of both, value and volume during the forecast period. On the basis of vehicle type, the market has been segmented into passenger car, light commercial vehicle, and heavy commercial vehicle. The light commercial vehicle segment is expected to dominate the global market in terms of both, value and volume during the forecast period.
The increase in demand for light commercial vehicles and rise in the demand for vehicle comfort during long-run are expected to raise the demand for automotive leaf springs in the global market. Additionally, the increase in the per capita disposable income raises the concerns for the vehicle service and vehicle comfort, which enhance the demand and consumption for the automotive leaf springs, across OEMs and aftermarket. The rapid expansion of the global e-commerce industry is expected to fuel the demand for light commercial vehicles for order delivering, which will raise the demand for automotive leaf springs in the global market. The growth in the adoption of lightweight components is expected to reduce vehicle weight and enhance vehicle performance. Therefore, the use of lightweight components are expected to form an opportunity in the global market for automotive leaf spring during the forecast period.
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Report Scope: Study Period: 2019-2023 Base Year: 2019 Regional Analysis: Geographically, the global automotive leaf spring market has been segmented into four regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to hold a highest market share and highest growing region during the forecast period owing to the leading highest consumption of commercial vehicles. On the other hand, North America is expected to witness substantial growth owing to an increase in the demand for light commercial vehicles in the transportation industry. The report for global automotive leaf spring market of Market Research Future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and projected market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions. Related Report: Oil Filter Market Like it? Share it! More by this author |