Automotive Suspension Spring Market Growth, Size, Trends, Demand, Revenue and Future Outlook

Automotive Suspension Spring Market Size- By Vehicle Type, By Spring Type, By Material, By Sales Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Automotive Suspension Spring Market Size- By Vehicle Type, By Spring Type, By Material, By Sales Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Published: Dec 2023 Report ID: AMIN23208 Pages: 1 - 220 Formats*:     
Category : Automotive & Transportation
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.
Automotive Suspension Spring Market
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.

Automotive Suspension Spring Market


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 coveredBy Vehicle Type, By Spring Type, By Material, By Sales Channel
 Regions coveredNorth America, Asia-Pacific, Latin America, Middle East & Africa and Europe
 Companies CoveredAmerican 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
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:
By Vehicle Type
  • Commercial Vehicles
  • Passenger Cars
  • By Spring Type
  • Coil Spring
  • Leaf Spring
  • Torsion Bar
  • By Material
  • Alloy Steel
  • Carbon Steel
  • Stainless Steel
  • By Sales Channel
  • Aftermarket
  • OEM
  • 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.

    SPER-Methodology-1

    SPER-Methodology-2

    SPER-Methodology-3


    Frequently Asked Questions About This Report
    Automotive Suspension Spring Market is projected to reach USD XX billion by 2033, growing at a CAGR of 5.5% during the forecast period.
    Automotive Suspension Spring Market grew in market size from 2022. The Market is expected to reach USD XX billion by 2033, at a CAGR of 5.5 % during the forecast period.
    Automotive Suspension Spring Market CAGR of 5.5% during the forecast period.
    Automotive Suspension Spring Market size is USD XX billion from 2023 to 2033.
    Automotive Suspension Spring Market Segment is covered By Vehicle Type, By Spring Type, By Material, By Sales Channel.
    The North America is anticipated to have the highest market share in the Automotive Suspension Spring Market.
    The key players in the market include 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.
    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.
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