Automotive Leaf Spring Market is projected to witness 6.5% CAGR by 2027

Pune, India, July 2019/MRFR Press Release/- Market Research Future Published a Half-Cooked Research Report on Global Automotive Leaf Spring Market.

Market Highlights

An automotive leaf spring is a spring comprising leaves and is commonly used as a suspension system in the commercial vehicles. Leaf springs are applied mainly to the transport commercial vehicles to hold heavy loads during the time of transportation of goods and materials. Center hole punching, shearing of flat bar, heating process, and heating treatment manufacturing process are primarily used for the manufacturing such leaf springs.

Increase in demand for light commercial vehicles and the need for vehicle comfort and safety are the major drivers of the global automotive leaf spring market during the forecast period. Moreover, the growth in the adoption of lightweight components to reduce vehicle weight, is expected to increase the demand for composite automotive leaf springs during the forecast period. However, automotive leaf springs are mainly traded from the low-cost manufacturing zones such as Mexico and China, to the higher consumption zones such as the US and Germany. Thus, the uncertainty and change in the trade policies are expected to hamper the demand for automotive leaf spring in the developing countries in the global amrket during the forecast period.  

Drivers: Global Automotive Leaf Spring Market
 

Market Research Analysis

In terms of region, the global market for the automotive leaf spring is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to hold the largest market share in terms of value and volume during the forecast period owing to the presence of China, India, Japan, and South Korea. China has the highest production and consumption of commercial vehicles. This enhanced the demand for automotive leaf springs and other components in China and neighboring countries. Asia-Pacific has the highest production and export of automotive leaf springs. North America is expected to hold the second largest market share of the global automotive leaf spring market in terms of value and volume owing to the continous demand and sales of commercial vehicles. The rapid growth of the e-commerce idnustry in the US and Canada are expected to raise the demand for light commercial vehicles to ensure timely delivery of the products, across the region. This is expected to lead the demand for automotive leaf springs in the OEM and aftermarket during the forecast period. Europe automotive leaf spring market is expected to witness growth due to the the presence of various developed nations and their patterns of adopting composite automotive leaf springs. Moreover, the stringent government regulations to meet the safety and comfort standards are expected to increase the demand and sales of automotive leaf springs in terms of value and volume during the forecast period.

Access Report Details @ https://www.marketresearchfuture.com/reports/automotive-leaf-spring-market-8135

Key Players

The leading players in the global automotive leaf spring market include Sogefi SpA (Italy), Rassini (Mexico), IFC Composite GmbH (Germany), Jamna Auto Industries (India), Emco Industries(India), Benteler-SGL (Austria), LITEFLEX (US), Hendrickson USA, L.L.C. (US), OlgunCelik San. Tic. A.S. (Turkey), and NHK Springs Co. Ltd (Japan) among others.

Scope of the Report

This study provides an overview of the global automotive leaf spring market, tracking four market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global automotive leaf spring market by type, material, sales channel, vehicle type, and region.

• by Type
  
  
  
  • Parabolic
  
  
  • Elliptic
  
  
  • Semi-Elliptic
  
  
  • Others
  
  
  
  

• by Material
  
  
  
  • Metal
  
  
  • Composite
  
  
  
  

• by Sales Channel
  
  
  
  • OEM
  
  
  • Aftermarket
  
  
  
  

• by Vehicle Type
  
  
  
  • Passenger Car
  
  
  • Commercial Vehicle
  
  
  
  

• by Regions
  
  
  
  • North America 
  
  
  • Asia-Pacific 
  
  
  • Europe
  
  
  • Rest of the World