Global Automotive leaf spring Market is valued at approximately USD XX Billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.5 % over the forecast period 2022-2029. The leaf spring in automotive sector is gaining rapid traction as it provides comfort, safety and load handling capability to the consumer. The technological advancements in automotive industry have led to the rising demand for leaf springs as the leaf spring is commonly used for suspensions to absorb shocks and vibrations along with bump loads with the help of spring deflection in vehicles. The ability of the leaf spring to reduce weight along with the material cost has led to the rising demand for light weight vehicles globally. The continuous expansion of auto component sector is another key factor driving the market growth.
According to Statista - as of the financial year 2022, the market size for auto components in India amounted to USD 56.5 billion, witnessing an increase from USD 46 billion in financial year 2021. Also, with the favorable government initiatives to increase fuel efficiencies by reducing the weight of vehicles, the leaf spring market is gaining traction over the forecast period. The factor leading to the wide adoption of leaf spring solutions as it serves as a replacement for traditional spring assembly due to their reduced weight and the ability to carry equal weight capacity. However, volatile cost of raw materials stifles market growth throughout the forecast period of 2022-2029.
The regional analysis of global Automotive leaf spring market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is expected to register significant growth over the forecast period owing to the increasing adoption of composite leaf springs in light weight vehicles and passenger cars. Whereas, Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as presence of major market players in the region tends to drive the market share of automotive leaf springs.
Major market players included in this report are:
- Akar Tools Limited India
- Auto Steels
- Emco Industries
- Hendrickson USA, L.L.C.
- Jamna Auto Industries Ltd.
- Jonas Woodhead & Sons India Ltd.
- MackSprings
- NHK Springs Co. Ltd.
- Protopower Springs Pvt. Ltd.
- Rassini
Recent Developments in the Market:
- In 2021, Hexion and Rassini announced a collaboration for the usage of composite leaf springs in Ford's new F-150 pickup truck. Rassini designed a hybrid rear suspension with a parabolic main steel leaf and a composite assist. Furthermore, Hexion's Epikote epoxy resin technology was chosen because it enables mass production of the composite helper spring.
Global Automotive Leaf Spring Market Report Scope:
- Historical Data: 2019-2020-2021
- Base Year for Estimation: 2021
- Forecast period: 2022-2029
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Material Type, Vehicle Type, Spring Type, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Material offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Material Type:
- Steel Spring
- Composite Leaf Spring
By Vehicle Type:
- Light weight vehicles
- Medium weight vehicles
- Heavy weight vehicles
By Spring Type
- Parabolic leaf spring
- Multi-leaf spring
By Region:
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. Automotive Leaf Spring Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. Automotive Leaf Spring Market, by Material Type, 2019-2029 (USD Billion)
- 1.2.3. Automotive Leaf Spring Market, by Vehicle Type, 2019-2029 (USD Billion)
- 1.2.4. Automotive Leaf Spring Market, by Spring Type, 2019-2029 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Automotive Leaf Spring Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Automotive Leaf Spring Market Dynamics
- 3.1. Automotive Leaf Spring Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Technological advancements in automotive industry
- 3.1.1.2. Growing expansion of auto component sector
- 3.1.2. Market Challenges
- 3.1.2.1. Volatile cost of raw materials
- 3.1.3. Market Opportunities
- 3.1.3.1. Favourable government initiatives towards increasing fuel efficiency of vehicles
Chapter 4. Global Automotive Leaf Spring Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. Industry Experts Prospective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Automotive Leaf Spring Market, by Material Type
- 6.1. Market Snapshot
- 6.2. Global Automotive Leaf Spring Market by Material Type, Performance - Potential Analysis
- 6.3. Global Automotive Leaf Spring Market Estimates & Forecasts by Material Type 2019-2029 (USD Billion)
- 6.4. Automotive Leaf Spring Market, Sub Segment Analysis
- 6.4.1. Steel Spring
- 6.4.2. Composite Leaf Spring
Chapter 7. Global Automotive Leaf Spring Market, by Vehicle Type
- 7.1. Market Snapshot
- 7.2. Global Automotive Leaf Spring Market by Vehicle Type, Performance - Potential Analysis
- 7.3. Global Automotive Leaf Spring Market Estimates & Forecasts by Vehicle Type 2019-2029 (USD Billion)
- 7.4. Automotive Leaf Spring Market, Sub Segment Analysis
- 7.4.1. Light weight vehicles
- 7.4.2. Medium weight vehicles
- 7.4.3. Heavy weight vehicles
Chapter 8. Global Automotive Leaf Spring Market, by Spring Type
- 8.1. Market Snapshot
- 8.2. Global Automotive Leaf Spring Market by Spring Type, Performance - Potential Analysis
- 8.3. Global Automotive Leaf Spring Market Estimates & Forecasts by Spring Type 2019-2029 (USD Billion)
- 8.4. Automotive Leaf Spring Market, Sub Segment Analysis
- 8.4.1. Parabolic leaf spring
- 8.4.2. Multi-leaf spring
Chapter 9. Global Automotive Leaf Spring Market, Regional Analysis
- 9.1. Automotive Leaf Spring Market, Regional Market Snapshot
- 9.2. North America Automotive Leaf Spring Market
- 9.2.1. U.S. Automotive Leaf Spring Market
- 9.2.1.1. Material Type breakdown estimates & forecasts, 2019-2029
- 9.2.1.2. Vehicle Type breakdown estimates & forecasts, 2019-2029
- 9.2.1.3. Spring Type breakdown estimates & forecasts, 2019-2029
- 9.2.2. Canada Automotive Leaf Spring Market
- 9.3. Europe Automotive Leaf Spring Market Snapshot
- 9.3.1. U.K. Automotive Leaf Spring Market
- 9.3.2. Germany Automotive Leaf Spring Market
- 9.3.3. France Automotive Leaf Spring Market
- 9.3.4. Spain Automotive Leaf Spring Market
- 9.3.5. Italy Automotive Leaf Spring Market
- 9.3.6. Rest of Europe Automotive Leaf Spring Market
- 9.4. Asia-Pacific Automotive Leaf Spring Market Snapshot
- 9.4.1. China Automotive Leaf Spring Market
- 9.4.2. India Automotive Leaf Spring Market
- 9.4.3. Japan Automotive Leaf Spring Market
- 9.4.4. Australia Automotive Leaf Spring Market
- 9.4.5. South Korea Automotive Leaf Spring Market
- 9.4.6. Rest of Asia Pacific Automotive Leaf Spring Market
- 9.5. Latin America Automotive Leaf Spring Market Snapshot
- 9.5.1. Brazil Automotive Leaf Spring Market
- 9.5.2. Mexico Automotive Leaf Spring Market
- 9.5.3. Rest of Latin America Automotive Leaf Spring Market
- 9.6. Rest of The World Automotive Leaf Spring Market
Chapter 10. Competitive Intelligence
- 10.1. Top Market Strategies
- 10.2. Company Profiles
- 10.2.1. Akar Tools Limited India
- 10.2.1.1. Key Information
- 10.2.1.2. Overview
- 10.2.1.3. Financial (Subject to Data Availability)
- 10.2.1.4. Product Summary
- 10.2.1.5. Recent Developments
- 10.2.2. Auto Steels
- 10.2.3. Emco Industries
- 10.2.4. Hendrickson USA, L.L.C.
- 10.2.5. Jamna Auto Industries Ltd.
- 10.2.6. Jonas Woodhead & Sons India Ltd.
- 10.2.7. MackSprings
- 10.2.8. NHK Springs Co. Ltd.
- 10.2.9. Protopower Springs Pvt. Ltd.
- 10.2.10. Rassini
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption