Product Code: GVR-4-68038-200-6
Spring Market Growth & Trends:
The global spring market size is expected to reach USD 16,278.8 million by 2030, registering a CAGR of 5.6% from 2025 to 2030, according to a new report by Grand View Research, Inc. The market is expected to gain prominence over the forecast period owing consistent growth in the demand of springs from the different end-use verticals such as automotive and transportation, agriculture and forestry, and construction. Also, the adoption of heavy industrial machinery in developing countries to optimize the manufacturing process is also expected to drive the market over the forecast period.
Industrialization and trade have strengthened each other. Trade has provided access to critical industrial inputs such as raw material and updated technologies such as robotics and Computer-aided manufacturing (CAM) for countries which are incapable of producing them. Increased demand for exports has spurred technological development and industrial production. In turn, the introduction of new industrial technologies such as use of 3D printers in manufacturing has shaped the pattern of manufacturing sector and hence increasing the demand for springs from robotics as well as from manufactured products.
Europe accounted for more than 25.0% of the global revenue generated in the market in the year 2019. Rising government investments to boost electric vehicle production/sales is anticipated to promote regional growth over the coming years. In Asia Pacific, the market is expected to witness the fastest growth over the forecast period, owing to substantial growth of manufacturing sector in countries such as China and India.
However, the market is depended on demand from its end users such as automotive and manufacturing. Therefore, the onset of financial crisis is expected to adversely impact market growth. Also, prices of raw materials such as metal and alloy have rapidly fluctuated, hampering market growth. Furthermore, the presence of a large number of domestic and international market participants has made the market highly competitive. The competitive environment in the market has forced the vendors to sell the products at low prices. This has deeply impacted the profit margins of the market players and has also restricted further research and development in the market. However, frequent adoption of new manufacturing methods, and adoption of customized products is expected to accelerate the growth of the spring market over the coming years.
Spring Market Report Highlights:
- The helical spring segment dominated the market with the largest market share of over 43% in 2024.
- The automotive and transportation segment dominated the market with the largest market share in 2024.
- Asia Pacific spring market dominated the market with a market share of 37% in 2024 and is expected to grow at a CAGR of over 6% from 2025 to 2030
- North America spring market accounted for a share of over 22% in 2024, primarily driven by the region's well-established automotive, aerospace, and industrial machinery sectors.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.2.1. Information analysis
- 1.2.2. Market formulation & data visualization
- 1.2.3. Data validation & publishing
- 1.3. Research Scope and Assumptions
- 1.3.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Spring Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Deployment Challenge
- 3.3. Spring Market Analysis Tools
- 3.3.1. Deployment Analysis - Porter's
- 3.3.1.1. Bargaining power of the suppliers
- 3.3.1.2. Bargaining power of the buyers
- 3.3.1.3. Threats of substitution
- 3.3.1.4. Threats from new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic landscape
- 3.3.2.3. Social landscape
- 3.3.2.4. Technological landscape
- 3.3.2.5. Environmental landscape
- 3.3.2.6. Legal landscape
Chapter 4. Spring Market: Type Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Spring Market: Type Movement Analysis, 2024 & 2030 (USD Million)
- 4.3. Leaf Spring
- 4.3.1. Leaf Spring Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.3.2. Elliptical Leaf Spring
- 4.3.2.1. Elliptical Leaf Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.3.3. Semi Elliptical Leaf Spring
- 4.3.3.1. Semi Elliptical Leaf Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.3.4. Quarter Elliptical Leaf Spring
- 4.3.4.1. Quarter Elliptical Leaf Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.3.5. Three-quarter Elliptical Leaf Spring
- 4.3.5.1. Three-quarter Elliptical Leaf Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.3.6. Transverse Leaf Spring
- 4.3.6.1. Transverse Leaf Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Helical Spring
- 4.4.1. Helical Spring Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4.2. Compression Spring
- 4.4.2.1. Compression Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4.3. Extension Spring
- 4.4.3.1. Extension Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4.4. Torsion Spring
- 4.4.4.1. Torsion Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4.5. Spiral Spring
- 4.4.5.1. Spiral Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5. Disk Spring
- 4.5.1. Disk Spring Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5.2. Belleville Disk Spring
- 4.5.2.1. Belleville Disk Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5.3. Curved Disk Spring
- 4.5.3.1. Curved Disk Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5.4. Slotted Disk Spring
- 4.5.4.1. Slotted Disk Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5.5. Wave Disk Spring
- 4.5.5.1. Wave Disk Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Spring Market: Industry End Use Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Spring Market: Industry End Use Movement Analysis, 2024 & 2030 (USD Million)
- 5.3. Automotive and Transportation
- 5.3.1. Automotive and Transportation Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. Construction
- 5.4.1. Construction Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5. Agriculture & Forestry
- 5.5.1. Agriculture & Forestry Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.6. Manufacturing
- 5.6.1. Manufacturing Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.7. Aerospace
- 5.7.1. Aerospace Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.8. Railway
- 5.8.1. Railway Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.9. Electronics
- 5.9.1. Electronics Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.10. Oil and Gas
- 5.10.1. Oil and Gas Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.11. Renewables
- 5.11.1. Renewables Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.11.2. Wind Turbines
- 5.11.2.1. Wind Turbines Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.11.3. Hydropower Plants
- 5.11.3.1. Hydropower Plants Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.11.4. Solar Power Mounting Systems
- 5.11.4.1. Solar Power Mounting Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.11.5. Energy Storage Systems
- 5.11.5.1. Energy Storage Systems Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.11.6. Others
- 5.11.6.1. Others Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.12. Others
- 5.12.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Regional Estimates & Trend Analysis
- 6.1. Spring Market by Region, 2024 & 2030
- 6.2. North America
- 6.2.1. North America Spring Market Estimates & Forecasts, 2018 - 2030, (USD Million)
- 6.2.2. U.S.
- 6.2.2.1. Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.3. Canada
- 6.2.3.1. Canada Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3. Europe
- 6.3.1. Europe Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.2. U.K.
- 6.3.2.1. U.K. Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.3. Germany
- 6.3.3.1. Germany Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.4. France
- 6.3.4.1. France Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Asia Pacific Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.2. China
- 6.4.2.1. China Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.3. Japan
- 6.4.3.1. Japan Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.4. India
- 6.4.4.1. India Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.5. South Korea
- 6.4.5.1. South Korea Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.6. Australia
- 6.4.6.1. Australia Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5. Latin America
- 6.5.1. Latin America Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.2. Brazil
- 6.5.2.1. Brazil Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.3. Mexico
- 6.5.3.1. Mexico Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6. Middle East and Africa
- 6.6.1. Middle East and Africa Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.2. Saudi Arabia
- 6.6.2.1. Saudi Arabia Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.3. South Africa
- 6.6.3.1. South Africa Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.4. UAE
- 6.6.4.1. UAE Spring Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Company Categorization
- 7.2. Company Market Positioning
- 7.3. Company Heat Map Analysis
- 7.4. Company Profiles/Listing
- 7.4.1. Ace WIre Spring & Form Company, Inc.
- 7.4.1.1. Participant's Overview
- 7.4.1.2. Financial Performance
- 7.4.1.3. Service Benchmarking
- 7.4.1.4. Strategic Initiatives
- 7.4.2. Bal Seal Engineering.
- 7.4.2.1. Participant's Overview
- 7.4.2.2. Financial Performance
- 7.4.2.3. Service Benchmarking
- 7.4.2.4. Strategic Initiatives
- 7.4.3. Lee Spring Company
- 7.4.3.1. Participant's Overview
- 7.4.3.2. Financial Performance
- 7.4.3.3. Service Benchmarking
- 7.4.3.4. Strategic Initiatives
- 7.4.4. Barnes
- 7.4.4.1. Participant's Overview
- 7.4.4.2. Financial Performance
- 7.4.4.3. Service Benchmarking
- 7.4.4.4. Strategic Initiatives
- 7.4.5. Bansbach Easylift GmbH
- 7.4.5.1. Participant's Overview
- 7.4.5.2. Financial Performance
- 7.4.5.3. Service Benchmarking
- 7.4.5.4. Strategic Initiatives
- 7.4.6. GALA GROUP GmbH
- 7.4.6.1. Participant's Overview
- 7.4.6.2. Financial Performance
- 7.4.6.3. Service Benchmarking
- 7.4.6.4. Strategic Initiatives
- 7.4.7. Torquesprings
- 7.4.7.1. Participant's Overview
- 7.4.7.2. Financial Performance
- 7.4.7.3. Service Benchmarking
- 7.4.7.4. Strategic Initiatives
- 7.4.8. Tufcot Engineering Ltd
- 7.4.8.1. Participant's Overview
- 7.4.8.2. Financial Performance
- 7.4.8.3. Service Benchmarking
- 7.4.8.4. Strategic Initiatives
- 7.4.9. Hendrickson USA, L.L.C.
- 7.4.9.1. Participant's Overview
- 7.4.9.2. Financial Performance
- 7.4.9.3. Service Benchmarking
- 7.4.9.4. Strategic Initiatives
- 7.4.10. John Evans' Sons LLC
- 7.4.10.1. Participant's Overview
- 7.4.10.2. Financial Performance
- 7.4.10.3. Service Benchmarking
- 7.4.10.4. Strategic Initiatives