Global Automotive Leaf Springs Market to Reach $12.8 Billion in 2021, Composite Leaf Springs to Experience the Fastest Growth of 9.3% CAGR Over the Next Five Years, as per a New Report From Stratview Research
31 Aug, 2016, 12:30 BST
DETROIT, August 31, 2016 /PRNewswire/ --
Stratview Research announces the launch of a new research report on Global Automotive Leaf Springs Market by Vehicle Type (Passenger Car, Light Duty Vehicle, Medium & Heavy Duty Vehicle, and Others), by Spring Type (Mono and Multi), by Material Type (Metal and Composites), by Manufacturing Process (Shot Peening, Prepreg Layup, and Others), by Location (Front and Rear), and by Region (North America, Europe, Asia-Pacific, and Rest of the World); Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2016-2021.
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This market report, from Stratview Research, studies the global leaf springs market in the automotive industry over the period 2010 to 2021. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The Global Leaf Springs Market in the Automotive Industry: Highlights
As per Stratview Research, the global leaf springs market offers a healthy growth opportunity of 4.5% CAGR during the forecast period of 2016 to 2021. Increasing production of light commercial vehicles and medium & heavy duty commercial vehicles, and high demand from the growing fleet size are major growth drivers of leaf springs market during the forecast period. Increasing demand of lightweight springs is another key growth driver of the global leaf springs market.
Steel leaf spring is expected to remain the largest spring type in the next five years; however, composite springs are likely to witness the fastest growth of 9.3% CAGR during the same period. Composite leaf springs offer an excellent strength to weight ratio, fatigue resistance and natural frequency, and is about five times more durable than the steel leaf spring. Internal damping in composite materials lead to excellent absorption of vibrations within the parts, resulting in reduced transmission of vibration noise to the neighboring structures.
The author cited that light commercial vehicles segment is expected to remain the largest market for leaf springs during the forecast period. Increasing vehicle production, mainly in USA, Mexico and China and aftermarket demand from a large global vehicle fleet are likely to drive the demand of leaf springs in the light commercial vehicle segment.
Asia-Pacific is expected to remain the largest market for leaf springs due to increasing production of light commercial vehicles and medium & heavy duty vehicles in developing economies, such as China and India.
The supply chain of this market comprises raw material suppliers, leaf spring manufacturers, automotive OEMs, distributors, and dealers. The key automotive OEMs for this market are Daimler, Navistar, GM, Ford, Volvo, MAN, Tata Motors, Peterbilt, and Toyota.
According to Stratview Research, the global leaf springs market is moderately consolidated. Major global steel leaf spring manufacturers are Rassini, Hendrickson, Jamna Auto Industries, Dongfeng Motor Suspension Spring Co. Ltd, EMCO, FAW, Sogefi and OlgunCelik; and the global composite leaf spring manufacturers are IFC Composite, Lite Flex, Benteler-SGL, and Mubea. New product development, long term OEM contracts and mergers & acquisitions are the some of the key strategies adopted by the major players to gain competitive edge in the market.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends.
- Strategic growth opportunities for the existing and new players
- Key success factors
This report studies leaf springs market in the global automotive industry and has segmented the market in six ways, keeping in mind the interest of all the stakeholders across the value chain. The following are the six ways in which the market is segmented:
Global Leaf Springs Market in the Automotive Industry by Vehicle Type:
- Passenger Car (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Light Duty Vehicles (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Medium & Heavy Duty Vehicles (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Global Leaf Springs Market in the Automotive Industry by Spring Type:
- Mono Leaf Springs (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Multi Leaf Springs (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Global Leaf Springs Market in the Automotive Industry by Material Type:
- Metal Leaf Springs (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Composite Leaf Springs (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Global Leaf Springs Market in the Automotive Industry by Manufacturing Process:
- Shot Peening (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Prepreg Layup (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Global Leaf Springs Market in the Automotive Industry by Spring Location:
- Front (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Rear (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Global Leaf Springs Market in the Automotive Industry by Region:
- North America (Country Analysis: USA, Canada, Mexico)
- Europe (Country Analysis: Germany, France, United Kingdom, Italy, Russia, and Rest of the Europe)
- Asia - Pacific (Country Analysis: China, Japan, South Korea, India, and Rest of the Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Argentina, and Rest of the World)
Stratview Research has a number of high value market reports in the global automotive industry. Please refer to the following link to browse through our reports:
Click Here for Other Reports from Stratview Research in the Automotive Industry
Some of our other premium reports in the automotive industry:
- Global Automotive Airbag Inflators Market likely to reach $4.8 billion in 2021, estimated to grow at CAGR 3.8% during 2016 to 2021.
- Expected growth in automotive vehicles production, introduction of more bags per car, and increasing safety standards across the globe are the major drivers of airbag inflators market.
- Global Automotive Airbag Yarn Market is likely to grow at 6.0% CAGR during the forecast period of 2016 to 2021.
- Expected growth in automotive vehicles production, introduction of more bags per car, and increasing safety standards across the globe are the major drivers of airbag yarns market.
- Global Automotive Headlamp Reflector Market offers robust growth opportunity and is likely to witness 4.8% CAGR during the forecast period of 2016 to 2021.
- Organic growth of the global automotive vehicles production and increasing demand of LED lighting system are the major growth drivers of the global automotive headlamp reflector market.
- Bulk Molding Compounds (BMC) based headlamp is expected to experience the fastest growth during the forecast period of 2016 to 2021 as they offer many benefits over competing materials, such as ability to manufacture complex and sharp curves, high gloss surface finish, excellent strength to weight ratio, lightweight, and excellent temperature resistance.
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