Automotive Suspension Spring Market Size Research Report 2027
The global Automotive Suspension Spring market gathered revenue around USD 24.15 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 4.30% during the prediction period 2021 to 2027.
Growth Factors:
Rise in sale of passenger and commercial vehicles across the globe is likely to propel the automotive suspension spring market across the globe. The increase in the number of small- and medium-scale industries across the globe is projected to boost manufacturing industries, which, in turn, is anticipated to fuel the automotive suspension spring market across the globe. Consistent research & development in the automotive industry has led to the development of suspension springs that offer more strength, along with ride comfort. The surge in the demand for electric vehicles across the globe is prompting vehicle manufacturers to develop lightweight suspension springs. This factor is anticipated to fuel the automotive suspension spring market across the globe.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Automotive Suspension Spring market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Automotive Suspension Spring market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
| Report Scope | Details |
| Market Size | USD 24.15 Billion by 2027 |
| Growth Rate | CAGR of 4.30% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Historic Data | 2017 to 2020 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Spring Type, Vehicle Type, Material, Sales Channel And Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | EMCO, Eaton Detroit Spring, Hendrickson, Rassini, Jamna Auto Industries, FAW Group, NHK Springs, Continental AG, Sogefi., Kilen Springs, Draco Spring Mfg. Co., Renton Coil Spring Co. , American Showa Inc., TRW, Marelli SpA, and Showa Corporation. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Automotive Suspension Spring market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Automotive Suspension Spring Market Dynamics analysis:
Based on vehicle type, the global automotive suspension spring market has been divided into passenger vehicle and commercial vehicle. Passenger vehicle is likely to be a highly lucrative segment during the forecast period. The spread of the pandemic across the globe has prompted consumers to buy own vehicles to avoid public transportation, which is likely to increase the demand for passenger vehicles across the globe. This, in turn, is estimated to propel the automotive suspension spring market across the globe.
Based on spring type, the coil spring segment accounted for a significant share of the global automotive suspension spring market. Pick-up trucks traditionally use the leaf spring for suspension, which is likely to enhance the automotive suspension spring market across the globe. However, an emerging trend of independent rear suspension with coil springs among pick-up trucks is leading to the adoption of shock absorbers having coil-over shock absorbers and coil springs, which is projected to propel the automotive suspension spring market across the globe.
Segmentation of Automotive Suspension Spring Market analysis:
The global automotive suspension spring market has been segmented based on spring type, vehicle type, material, sales channel, and region
Based on spring type, the coil spring segment dominated the global automotive suspension spring market. The transition among light duty vehicles and pick-up trucks from leaf springs to coil springs is anticipated to increase the demand for the coil springs during the forecast period. Rise in sale of passenger vehicles across the globe is likely to boost the demand for coil springs, which, in turn, is anticipated to boost the automotive suspension spring market across the globe.
Based on vehicle type, the passenger vehicle held a major share of the global automotive suspension spring market. Rise in demand for passenger vehicles across the globe is projected to fuel the demand for suspension spring, as they provide comfort while driving. This, in turn, is anticipated to propel the automotive suspension spring market across the globe.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Automotive Suspension Spring Market include: EMCO, Eaton Detroit Spring, Hendrickson, Rassini, Jamna Auto Industries, FAW Group, NHK Springs, Continental AG, Sogefi., Kilen Springs, Draco Spring Mfg. Co., Renton Coil Spring Co. , American Showa Inc., TRW, Marelli SpA, and Showa Corporation.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Global Automotive Suspension Spring Market: Segmentation
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Automotive Suspension Spring market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Automotive Suspension Spring market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Automotive Suspension Spring markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Automotive Suspension Spring market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Automotive Suspension Spring Market, By Spring Type
7.1. Automotive Suspension Spring Market, by Spring Type, 2021-2027
7.1.1. Coil Spring
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Leaf Spring
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Torsion Bar
7.1.3.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Automotive Suspension Spring Market, By Vehicle Type
8.1. Automotive Suspension Spring Market, By Vehicle Type, 2021-2027
8.1.1. Passenger Vehicle
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Commercial Vehicle
8.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Automotive Suspension Spring Market, By Material
9.1. Automotive Suspension Spring Market, by Material, 2021-2027
9.1.1. Alloy Steel
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Carbon Steel
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Stainless Steel
9.1.3.1. Market Revenue and Forecast (2016-2027)
9.1.4. Others
9.1.4.1. Market Revenue and Forecast (2016-2027)
Chapter 10.Global Automotive Suspension Spring Market, By Sales Channel
10.1. Automotive Suspension Spring Market, by Sales Channel, 2021-2027
10.1.1. OEM
10.1.1.1. Market Revenue and Forecast (2016-2027)
10.1.2. Aftermarket
10.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 11.Global Automotive Suspension Spring Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.1.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.1.3. Market Revenue and Forecast, by Material (2016-2027)
11.1.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.1.5.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.1.5.3. Market Revenue and Forecast, by Material (2016-2027)
11.1.5.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.1.6.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.1.6.3. Market Revenue and Forecast, by Material (2016-2027)
11.1.6.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.2.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.2.3. Market Revenue and Forecast, by Material (2016-2027)
11.2.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.2.5.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.2.5.3. Market Revenue and Forecast, by Material (2016-2027)
11.2.5.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Spring Type(2016-2027)
11.2.6.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.2.6.3. Market Revenue and Forecast, by Material (2016-2027)
11.2.6.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.2.7.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.2.7.3. Market Revenue and Forecast, by Material (2016-2027)
11.2.7.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.2.8.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.2.8.3. Market Revenue and Forecast, by Material (2016-2027)
11.2.8.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.3.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.3.3. Market Revenue and Forecast, by Material (2016-2027)
11.3.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.3.5.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.3.5.3. Market Revenue and Forecast, by Material (2016-2027)
11.3.5.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.3.6.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.3.6.3. Market Revenue and Forecast, by Material (2016-2027)
11.3.6.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.3.7.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.3.7.3. Market Revenue and Forecast, by Material (2016-2027)
11.3.7.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.3.8.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.3.8.3. Market Revenue and Forecast, by Material (2016-2027)
11.3.8.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.4.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.4.3. Market Revenue and Forecast, by Material (2016-2027)
11.4.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.4.5.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.4.5.3. Market Revenue and Forecast, by Material (2016-2027)
11.4.5.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.4.6.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.4.6.3. Market Revenue and Forecast, by Material (2016-2027)
11.4.6.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.4.7.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.4.7.3. Market Revenue and Forecast, by Material (2016-2027)
11.4.7.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.4.8.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.4.8.3. Market Revenue and Forecast, by Material (2016-2027)
11.4.8.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.5.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.5.3. Market Revenue and Forecast, by Material (2016-2027)
11.5.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.5.5.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.5.5.3. Market Revenue and Forecast, by Material (2016-2027)
11.5.5.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Spring Type (2016-2027)
11.5.6.2. Market Revenue and Forecast, By Vehicle Type (2016-2027)
11.5.6.3. Market Revenue and Forecast, by Material (2016-2027)
11.5.6.4. Market Revenue and Forecast, by Sales Channel (2016-2027)
Chapter 12. Company Profiles
12.1. EMCO
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Eaton Detroit Spring
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Hendrickson
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Rassini
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Jamna Auto Industries
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. FAW Group
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. NHK Springs
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Continental AG
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Sogefi.
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Kilen Springs
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers