Automotive Suspension Spring Market Introduction and Overview
According to SPER Market Research, the Global Automotive Suspension Spring Market is estimated to reach USD XX billion by 2033 with a CAGR of 5.5%.
The report includes an in-depth analysis of the Global Automotive Suspension Spring Market, including market size and trends, product mix, applications, and supplier analysis. Suspension springs for cars are essential parts of the suspension system; they absorb shocks and offer support to make the ride more comfortable. These springs, which are usually composed of sturdy materials like steel or alloys, are essential for preserving the ideal tire-road contact, which improves handling, stability, and overall comfort while driving. Suspension springs are manufactured by Original Equipment Manufacturers (OEMs) and aftermarket suppliers to suit a variety of vehicle types and uses.
- May 2018: Sogefi SpA declared in May 2018 that it would begin producing coil springs at its Wujiang, China, production facility. At this location, the company used to produce stabiliser bars in the past. It is anticipated that coil spring production will meet the growing demand from regional manufacturers for better technological standards. Emco has opened a new production facility in Haixing, Hebei Province, China, as part of its commercial expansion strategy in Asia Pacific. The building occupies 200,000 square feet of space. The corporation supplies its products to multiple credible steel mills in an effort to build a robust service network.
Market Opportunities and Challenges
The expansion of the industrial sector is expected to raise the need for commercial vehicles, which in turn will increase the production of light commercial vehicles. Since these cars are utilised in industries, there will likely be a global increase in the demand for leaf springs and coil springs. The global market for automobile suspension springs is expected to grow as a result. The market for lightweight suspension springs is expected to rise in response to the anticipated increase in demand for electric vehicles. Therefore, in order to develop lightweight suspension springs, suspension spring manufacturers must invest appropriately and acquire competence.
Additionally, lightweight coil springs present producers with a large opportunity, and light weighting is essential in the automobile sector. These factors are expected to drive the global market for car suspension springs. The benefits of lighter weight, improved comfort, and better handling are driving advancements in independent front suspension systems, which will lead to further growth prospects for the car suspension spring industry. In the market for car suspension springs, the coil spring sector has the largest share. The market for automotive suspension springs is expanding as a result of light-duty vehicles and pickup trucks switching from leaf springs to coil springs.
The continuous industry transitions that the global automotive suspension spring market is facing present problems. Traditional suspension designs are impacted by changing pollution standards and the drive towards electrified vehicles. Complex supply chain disturbances, such as shortages of raw materials and price swings, must be managed by manufacturers. High-quality components, such as hardened steel for the suspension spring, may make cars more expensive. Significant variations in raw material costs could be a problem for the global market for automobile suspension springs. Research and development issues arise from the need for constant innovation brought about by rapid technical breakthroughs such as air suspension systems and adaptive systems. Furthermore, market dynamics are influenced by geopolitical and economic uncertainty. Among these complexity, finding a balance between performance, longevity, and affordability is still a recurring problem for those involved in the car suspension spring business.
Market Competitive Landscape
Major businesses in the market are growing their presence on a global scale through mergers and acquisitions with multiple other players. The major players in the Global Automotive Suspension Spring Market include: American Showa Inc., Continental A, Draco Spring Mfg. Co., Eaton Detroit Spring, EMCO, FAW Auto Industriesm Hendricksonm, Jamna Auto Industries, Kilen Springs, Marelli SpA, NHK Springs, Coil Spring Co., Showa Corporation, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Vehicle Type, By Spring Type, By Material, By Sales Channel
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | American Showa Inc., Continental A, Draco Spring Mfg. Co., Eaton Detroit Spring, EMCO, FAW Auto Industriesm Hendricksonm, Jamna Auto Industries, Kilen Springs, Marelli SpA, NHK Springs, Coil Spring Co., Showa Corporation, Others
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COVID-19 Impact on Global Automotive Suspension Spring Market
The COVID-19 epidemic has resulted in the forced halt of production and manufacturing activities, which has led a significant number of enterprises worldwide to collapse. The result has been the lowest growth rate contraction of the world economy. In every industry, the majority of companies are interdependent and a part of the main supply chain. The worldwide automotive sector is anticipated to be impacted by supply chain disruption resulting in a halt to shipping and transportation services as well as a decline in global automobile demand.
Key Target Audience:
- Aftermarket Parts Suppliers
- Automotive Dealerships
- Automotive Engineers and Designers
- Automotive Manufacturers
- Automotive Suppliers and Component Manufacturers
- Fleet Managers
- Others
Our in-depth analysis of the Automotive Suspension Spring Market includes the following segments:
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By Vehicle Type
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Commercial Vehicles
Passenger Cars
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By Spring Type
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Coil Spring
Leaf Spring
Torsion Bar
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By Material
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Alloy Steel
Carbon Steel
Stainless Steel
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By Sales Channel
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Aftermarket
OEM
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Key Topics Covered in the Report:
- Global Automotive Suspension Spring Market Size (FY’2023-FY’2033)
- Overview of Global Automotive Suspension Spring Market
- Segmentation of Global Automotive Suspension Spring Market By Vehicle Type (Commercial Vehicles, Passenger Cars)
- Segmentation of Global Automotive Suspension Spring Market By Spring Type (Coil Spring, Leaf Spring, Torsion Bar)
- Segmentation of Global Automotive Suspension Spring Market By Material (Alloy Steel, Carbon Steel, Stainless Steel, Others)
- Segmentation of Global Automotive Suspension Spring Market By Sales Channel (Aftermarket, OEM)
- Statistical Snap of Global Automotive Suspension Spring Market
- Expansion Analysis of Global Automotive Suspension Spring Market
- Problems and Obstacles in Global Automotive Suspension Spring Market
- Competitive Landscape in the Global Automotive Suspension Spring Market
- Impact of COVID-19 and Demonetization on Global Automotive Suspension Spring Market
- Details on Current Investment in Global Automotive Suspension Spring Market
- Competitive Analysis of Global Automotive Suspension Spring Market
- Prominent Players in the Global Automotive Suspension Spring Market
- SWOT Analysis of Global Automotive Suspension Spring Market
- Global Automotive Suspension Spring Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Automotive Suspension Spring Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Automotive Suspension Spring Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Automotive Suspension Spring Market
7. Global Automotive Suspension Spring Market, By Vehicle Type (USD Million)
7.1. Global Automotive Suspension Spring Market Value Share and Forecast, By Vehicle Type, 2023-2033
7.2. Commercial Vehicles
7.3. Passenger Cars
8. Global Automotive Suspension Spring Market, By Spring Type (USD Million)
8.1. Global Automotive Suspension Spring Market Value Share and Forecast, By Spring Type, 2023-2033
8.2. Coil Spring
8.3. Leaf Spring
8.4. Torsion Bar
9. Global Automotive Suspension Spring Market, By Material (USD Million)
9.1. Global Automotive Suspension Spring Market Value Share and Forecast, By Material, 2023-2033
9.2. Alloy Steel
9.3. Carbon Steel
9.4. Stainless Steel
9.5. Others
10. Global Automotive Suspension Spring Market, By Sales Channel (USD Million)
10.1. Global Automotive Suspension Spring Market Value Share and Forecast, By Sales Channel, 2023-2033
10.2. Aftermarket
10.3. OEM
11. Global Automotive Suspension Spring Market Forecast, 2019-2033 (USD Million)
11.1. Global Automotive Suspension Spring Market Size and Market Share
12. Global Automotive Suspension Spring Market, By Vehicle Type, 2019-2033 (USD Million)
12.1. Global Automotive Suspension Spring Market Size and Market Share By Vehicle Type (2019-2026)
12.2. Global Automotive Suspension Spring Market Size and Market Share By Vehicle Type (2027-2033)
13. Global Automotive Suspension Spring Market, By Spring Type, 2019-2033 (USD Million)
13.1. Global Automotive Suspension Spring Market Size and Market Share By Spring Type (2019-2026)
13.2. Global Automotive Suspension Spring Market Size and Market Share By Spring Type (2027-2033)
14. Global Automotive Suspension Spring Market, By Material, 2019-2033 (USD Million)
14.1. Global Automotive Suspension Spring Market Size and Market Share By Material (2019-2026)
14.2. Global Automotive Suspension Spring Market Size and Market Share By Material (2027-2033)
15. Global Automotive Suspension Spring Market, By Sales Channel, 2019-2033 (USD Million)
15.1. Global Automotive Suspension Spring Market Size and Market Share By Sales Channel (2019-2026)
15.2. Global Automotive Suspension Spring Market Size and Market Share By Sales Channel (2027-2033)
16. Global Automotive Suspension Spring Market, By Region, 2019-2033 (USD Million)
16.1. Global Automotive Suspension Spring Market Size and Market Share By Region (2019-2026)
16.2. Global Automotive Suspension Spring Market Size and Market Share By Region (2027-2033)
16.3. Asia-Pacific
16.3.1. Australia
16.3.2. China
16.3.3. India
16.3.4. Japan
16.3.5. South Korea
16.3.6. Rest of Asia-Pacific
16.4. Europe
16.4.1. France
16.4.2. Germany
16.4.3. Italy
16.4.4. Spain
16.4.5. United Kingdom
16.4.6. Rest of Europe
16.5. Middle East and Africa
16.5.1. Kingdom of Saudi Arabia
16.5.2. United Arab Emirates
16.5.3. Rest of Middle East & Africa
16.6. North America
16.6.1. Canada
16.6.2. Mexico
16.6.3. United States
16.7. Latin America
16.7.1. Argentina
16.7.2. Brazil
16.7.3. Rest of Latin America
17. Company Profile
17.1. American Showa Inc.
17.1.1. Company details
17.1.2. Financial outlook
17.1.3. Product summary
17.1.4. Recent developments
17.2. Continental A
17.2.1. Company details
17.2.2. Financial outlook
17.2.3. Product summary
17.2.4. Recent developments
17.3. Draco Spring Mfg. Co.
17.3.1. Company details
17.3.2. Financial outlook
17.3.3. Product summary
17.3.4. Recent developments
17.4. Eaton Detroit Spring
17.4.1. Company details
17.4.2. Financial outlook
17.4.3. Product summary
17.4.4. Recent developments
17.5. EMCO
17.5.1. Company details
17.5.2. Financial outlook
17.5.3. Product summary
17.5.4. Recent developments
17.6. FAW Auto Industries
17.6.1. Company details
17.6.2. Financial outlook
17.6.3. Product summary
17.6.4. Recent developments
17.7. Hendrickson
17.7.1. Company details
17.7.2. Financial outlook
17.7.3. Product summary
17.7.4. Recent developments
17.8. Jamna Auto Industries
17.8.1. Company details
17.8.2. Financial outlook
17.8.3. Product summary
17.8.4. Recent developments
17.9. Kilen Springs
17.9.1. Company details
17.9.2. Financial outlook
17.9.3. Product summary
17.9.4. Recent developments
17.10. Marelli SpA
17.10.1. Company details
17.10.2. Financial outlook
17.10.3. Product summary
17.10.4. Recent developments
17.11. NHK Springs
17.11.1. Company details
17.11.2. Financial outlook
17.11.3. Product summary
17.11.4. Recent developments
17.12. Coil Spring Co.
17.12.1. Company details
17.12.2. Financial outlook
17.12.3. Product summary
17.12.4. Recent developments
17.13. Showa Corporation
17.13.1. Company details
17.13.2. Financial outlook
17.13.3. Product summary
17.13.4. Recent developments
17.14. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
