Automotive Suspension Spring Market to Reach US$ 25 Bn by 2030, States TMR Study

News provided by

Transparency Market Research

10 Mar, 2022, 03:30 GMT

- Demand for safe and comfortable vehicles to cope with high volume of vehicles on roads drives design innovations in automotive suspension springs

- Collaborations and strategic alliances of suppliers and OEMs of automotive suspension spring with top-notch automotive vehicle manufacturers to lead to design of robust products

ALBANY, N.Y., March 10, 2022 /PRNewswire/ -- The automotive suspension spring market is anticipated to expand at a CAGR of 5.39% for the forecast period from 2020 to 2030. A vast rise in the number of passenger and commercial vehicles on roads is fuelling the expansion of the automotive suspension spring market. This is supported by consistent R&D in the automotive industry that has led to the development of suspension springs with improved strength and increased comfort in ride.

Environmental advantages of lightweight vehicles and prospects of demand for electric vehicles are leading manufacturers to undertake efforts to develop lightweight suspension springs. Leading manufacturers are engaging in acquisitions and agreements to develop new substitutes that can provide compression resistance as well as flexibility to the vehicle. For instance, the advent of coil spring made of composite material from Henkel AG & Co. KGaA is a case in point.

Asia Pacific is a key region in the automotive suspension springs market. Profitable business partnerships of manufacturers based in China with manufacturers in the European Union, the U.S., and ASEAN account for substantial growth of automotive suspension spring market in the region.

Get PDF Brochure for More Insights -

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=81093

Automotive Suspension Spring Market – Key Findings of Report

  • Need for safe and comfortable vehicles to cope with high volume of traffic on roads is driving manufacturers of automotive suspension spring to introduce novel designs that are fault-free and cost-effective
  • Advent of helical compression spring that offers resilience in automotive components and automotive system is grabbing the attention of OEMs, automotive manufacturers, and other entities in the value chain. Manufacturers in the automotive suspension spring market are gaining from the space saving installations and compact design of helical compression springs that is likely to boost car sales.
  • Keen manufacturers in the automotive suspension spring market are making efforts to develop lightweight suspension springs. For instance, Mubea – an automotive component maker that specializes in high-strength lightweight products has introduced glass fiber reinforced plastic (GFRP) tension leaf spring, which is increasingly replacing traditional steel leaf springs. Advantages of reduced carbon emissions of low weight vehicles is driving manufacturers to develop lightweight coil springs, which is anticipated to benefit the demand for electric vehicles.
  • Advantages of superior handling, less weight, and added comfort are fuelling innovations in independent front suspension systems to translate into growth opportunities in automotive suspension spring market
  • OEMs and suppliers undergo collaborations and strategic alliances with automotive vehicle manufacturers to design robust suspension springs. The partnering of Melling Performance Springs with reputed automotive vehicle manufacturers to deploy inventive technologies in suspension and steering system springs is a case in point.
  • Coil spring segment holds the leading share in the automotive suspension spring market. Transition of light duty vehicles and pick-up trucks from leaf springs to coil springs is creating ample opportunities in the automotive suspension spring market.

Get COVID-19 Impact Analysis at

https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=81093

Automotive Suspension Spring Market – Growth Drivers

  • High density of light commercial vehicles and passenger vehicles with economic growth is propelling the automotive suspension spring market
  • Prospects of sizeable rise in demand for electric vehicles leading to innovations in lightweight suspension springs to stimulate growth of automotive suspension spring market

Automotive Suspension Spring Market – Key Players

Some of the key players operating in the automotive suspension spring market are;

  • EMCO
  • Hendrickson
  • Jamna Auto Industries
  • NHK Springs
  • Sogefi
  • Draco Spring Mfg. Co.
  • American Showa Inc.
  • Marelli SpA
  • Eaton Detroit Spring
  • Rassini
  • FAW Auto Industries
  • Continental A
  • Kilen Springs
  • Renton Coil Spring Co.
  • TRW
  • Showa Corporation

Make an Enquiry Before Buying -

https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=81093

The automotive suspension spring market is segmented as follows;

Automotive Suspension Spring Market, by Spring Type

  • Coil Spring
  • Leaf Spring
  • Torsion Bar

Automotive Suspension Spring Market, by Vehicle Type

  • Passenger Vehicle
  • Commercial Vehicle

Automotive Suspension Spring Market, by Material

  • Alloy Steel
  • Carbon Steel
  • Stainless Steel
  • Others

Automotive Suspension Spring Market, by Sales Channel

  • OEM
  • Aftermarket

Automotive Suspension Spring Market, by Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Browse Latest Automotive and Transport Industry Research Reports by TMR:

About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

For More Research Insights on Leading Industries, Visit our YouTube channel - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Access MarketNgage: The On Demand, Subscription based platform from Transparency Market Research

www.marketngage.com 

Now avail flexible Market Research Subscription through MarketNgage, the Market Research Subscription Platform from Transparency Market Research and other iconic market research powerhouses. Go beyond just reports and access research multi-format through downloadable executive summaries, chapters, databooks, infographics, charts, interactive playbook for data visualization and full reports across all major industries, 200+ sub sectors and 1200+ niche markets, through MarketNgage.

Sign Up for a 7 day free trial!

Contact

Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY – 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Follow Us: Twitter | LinkedIn
Blog: https://tmrblog.com
Website: http://www.transparencymarketresearch.com
Press Release: https://www.transparencymarketresearch.com/automotive-suspension-spring-market.html 

Logo: https://mma.prnewswire.com/media/1682871/TMR_Logo_Logo.jpg