Report Scope & Overview:
Automotive Leaf Spring Market Size was valued at USD 4.56 billion in 2021 and is expected to reach USD 6.95 billion by 2028 and grow at a CAGR of 6.2% over the forecast period 2022-2028.
A leaf spring in an automobile is used as a suspension system to sustain the car by absorbing bumps on uneven road surfaces. These types of springs are composed of leaves and might have one to several leaves. They are a common type of suspension system for wheeled vehicles and have been in use for many years. The majority of their applications are found in LCVs and HCVs. The center hole punching, shearing of flat bar, heating procedure, and heating treatment are all part of the production process for car leaf springs.
The automotive leaf spring is an essential part of any car or truck. There are leaf springs between the automobile's wheels and its body. This energy is stored in the spring when a bump causes the wheel to lift and deflect it. As soon as the spring is released, the stored energy expands because of the spring's ability to rebound.
The objective of a leaf spring is to support the vehicle and to give a smoother ride by absorbing any bumps or potholes in the road. They also help to keep the tires straight on the road by locating the axle and controlling the height at which the car rides. The two most common types of springs on the market are coil springs and leaf springs, both of which absorb every well. A leaf spring is situated between the wheels and the vehicle's body. When the wheel travels over a bump, the energy stored in the spring causes it to rise and deflect the spring.
Increased demand for LCVs.
The long-term need for vehicle comfort will boost global demand for automobile leaf springs.
Increased disposable money raises concerns for vehicle service and comfort.
Suspension turning issues are a potential barrier to this market's expansion
Economic instability, coupled with political unpredictability can hinder the market.
The usage of lightweight components is likely to boost the worldwide automotive leaf spring market.
The leaf spring is a technological advancement that can be termed a modern innovation.
Trade policy instability and change can hinder the automobile leaf spring market.
Fluctuating raw material prices & trade policies will impede the global automobile leaf spring business.
IMPACT OF COVID-19:
Many countries' economies and industries have been affected by COVID-19's lockdowns, travel bans, and business closures. The worldwide supply chain has been disrupted by the closure of numerous plants and companies, which has had an adverse effect on production, delivery schedules, and product sales around the world. Several companies have already expressed concerns about delays in product deliveries and a decrease in sales in the future. In addition, the worldwide travel prohibitions enforced by governments are impacting commercial collaboration and partnership opportunities. Both the supply and the demand for automobiles were affected by this pandemic. This has a negative influence on the global vehicle leaf spring market.
KEY MARKET PLAYERS:
Rassini (Mexico), Hendrickson USA, L.L.C. (US), Sogefi SpA (Italy), Emco Industries (India), Jamna Auto Industries (India), LITE FLEX (US), IFC Composite GmbH (Germany), NHK Springs Co. Ltd (Japan), Benteler-SGL (Austria), and OlgunCelik San. Tic. A.S (Turkey). are some of the affluent competitors with significant market share in the Automotive Leaf Spring Market.
Market, By Type:
Based on the type segment, the global market has been divided into Parabolic, Elliptic, Semi-Elliptic, and Others. During the forecast period, the parabolic-type section is expected to be dominant. It is anticipated that the semi-elliptic type segment would develop at the fastest rate in the global market for vehicle leaf springs throughout the forecast timeframe.
Market, By Material:
The global market has been divided into metal, and composite based on the material segment. During the forecast period, metals are expected to dominate the global market in terms of value and volume. Due to their superior strength-to-weight ratio, fatigue resistance, and natural frequency, Composite Leaf Springs have grown in popularity over time.
Market, By Sales Channel:
The global market has been divided into OEM, and aftermarket based on the sales channel segment. During the time period covered by this estimate, the OEM segment is anticipated to have the majority share of the global market in terms of both value and volume. The manufacturing of light, medium, and heavy commercial vehicles has a direct correlation to the need for leaf springs from OEM.
By Sales Channel:
The market for vehicle leaf springs has been divided into four distinct geographic regions: North America, Europe, Asia-Pacific, and the Rest of the World. Because of its leadership position as the region with the biggest consumption of commercial vehicles, Asia-Pacific is predicted to hold the highest market share and be the region with the highest growth rate over the projection period. On the other hand, it is anticipated that North America would experience significant growth as a result of a rise in the demand for light commercial vehicles in the transportation industry.
As a result of the concentration of numerous important manufacturers in this area, it is anticipated that the Western Europe region will hold the biggest share of the market in terms of value. Over the course of the forecast period, the progression of technology in the Western European area is anticipated to generate considerable chances in the vehicle leaf springs market. During the period covered by the forecast, it is anticipated that the APEJ region would expand at a considerable CAGR.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2021||US$ 4.56 Billion|
|Market Size by 2028||US$ 6.95 Billion|
|CAGR||CAGR of 6.2% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Type (Parabolic, Elliptic, Semi-Elliptic, Others)
• by Material (Metal, Composite)
• by Sales Channel (OEM, Aftermarket)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Rassini (Mexico), Hendrickson USA, L.L.C. (US), Sogefi SpA (Italy), Emco Industries (India), Jamna Auto Industries (India), LITE FLEX (US), IFC Composite GmbH (Germany), NHK Springs Co. Ltd (Japan), Benteler-SGL (Austria), and OlgunCelik San. Tic. A.S (Turkey).|
|Key Drivers||•Increased demand for LCVs.
•The long-term need for vehicle comfort will boost global demand for automobile leaf springs.
|RESTRAINTS||•Increased demand for LCVs.
•The long-term need for vehicle comfort will boost global demand for automobile leaf springs.
Frequently Asked Questions (FAQ) :
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of the Ukraine-Russia War
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Automotive Leaf Spring Market Segmentation, By Type
9. Global Automotive Leaf Spring Market Segmentation, By Material
10. Global Automotive Leaf Spring Market Segmentation, by Sales Channel
11. Regional Analysis
11.2 North America
11.2.1 the USA
11.3.2 the UK
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Hendrickson USA,
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Rassini (Mexico)
12.3 L.L.C. (US)
12.4 Sogefi SpA (Italy)
12.5 Emco Industries (India)
12.6 Jamna Auto Industries (India)
12.7 LITE FLEX (US)
12.8 IFC Composite GmbH (Germany)
12.9 NHK Springs Co. Ltd (Japan)
12.10 Benteler-SGL (Austria)
12.11 OlgunCelik San. Tic. A.S (Turkey).
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
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