Market Overview:
The global alloy spring steel market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for heavy vehicles and industrial equipment across the globe. Additionally, rising awareness about the benefits of using alloy spring steel is also contributing to the growth of this market. The global alloy spring steel market can be segmented on the basis of type, application, and region. On the basis of type, chromium vanadium alloys are expected to lead in terms of demand during 2018-2030 owing to their superior properties such as high strength and toughness as compared with other types available in this market. Silicon manganese alloys are also anticipated witness high demand due their excellent wear resistance properties which make them suitable for use in various applications such as construction equipment and agricultural machinery among others.
Product Definition:
Alloy Spring Steel is a type of steel that contains alloying elements like chromium and molybdenum to increase its strength and hardness. It is used in springs, wire, and other applications that need high-strength metal.
Chromium Vanadium:
Chromium vanadium (CrV) is a type of alloy which contains chromium as the major component and vanadium as an additional component. It is produced by mixing raw materials in the ratio of 70:30 to 90:10 at a high temperature. Chromium vanadium has applications in various end-use industries such as automotive, construction, electrical & electronics, medical equipment and machinery manufacturing among others.
Silicon Manganese:
Silicon manganese is a type of steel that contains about 1.5 to 2% silicon and 0.15 to 0.3% manganese by weight of the total composition, which makes it stronger than carbon steel but weaker than high strength alloy spring steels such as MIM or PMA-2100 series used in automotive applications.
It has higher yield strength.
Application Insights:
The other application segment includes consumer products, industrial equipment and heavy vehicles. In 2017, the heavy vehicles accounted for a major share in terms of demand and is expected to continue its dominance over the forecast period. The growing automotive industry across the globe is anticipated to augment product demand in this segment over the forecast period.
The increasing number of aging population across various countries including Japan China India Germany France UK is expected to drive healthcare spending which will result in higher adoption of health care facilities thereby supporting product demand in this segment during future years.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region is home to several emerging economies, including China, India, Indonesia and Vietnam. Growing industrialization coupled with increasing vehicle production in these countries has resulted in rising demand for alloy spring steel products from end-use industries such as automotive and industrial equipment manufacturing.
Europe accounted for a significant share of global revenue owing to high demand from the heavy vehicles industry on account of increased road infrastructure development activities across major European countries such as Germany, Italy and France among others. In addition, growing investments by prominent players for capacity expansion are anticipated to drive product consumption over the next eight years.
North America was estimated at USD X million in 2017 on account of high consumer awareness regarding advanced passenger cars along with stringent regulations aimed at reducing carbon emissions associated with motor vehicles pertainingly driven vehicles (lightweighting).
Growth Factors:
- Increasing demand from automotive and transportation industries for lightweight and durable components.
- Growing popularity of alloy spring steel in construction and engineering sectors for manufacturing high-strength components.
- Rising demand for alloy spring steel in the oil & gas industry to manufacture downhole tools and equipment parts.
- Technological advancements that have led to the development of new grades of alloy spring steel with enhanced properties such as strength, toughness, corrosion resistance, etc.
Scope Of The Report
Report Attributes
Report Details
Report Title
Alloy Spring Steel Market Research Report
By Type
Chromium Vanadium, Silicon Manganese, Chromium Silicon, Other
By Application
Heavy Vehicles, Industrial Equipment, Other
By Companies
Hitachi Metals, Thyssenkrupp, Coiling Technologies, General Wire Spring, Continental Steel & Tube Company, Sandvik, Otai Special Steel, Novametal SA
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
217
Number of Tables & Figures
152
Customization Available
Yes, the report can be customized as per your need.
Global Alloy Spring Steel Market Report Segments:
The global Alloy Spring Steel market is segmented on the basis of:
Types
Chromium Vanadium, Silicon Manganese, Chromium Silicon, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Heavy Vehicles, Industrial Equipment, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Hitachi Metals
- Thyssenkrupp
- Coiling Technologies
- General Wire Spring
- Continental Steel & Tube Company
- Sandvik
- Otai Special Steel
- Novametal SA
Highlights of The Alloy Spring Steel Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Chromium Vanadium
- Silicon Manganese
- Chromium Silicon
- Other
- By Application:
- Heavy Vehicles
- Industrial Equipment
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Alloy Spring Steel Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Alloy spring steel is a type of steel that is made up of two or more different types of metals. The most common alloy in spring steel is carbon and alloy, which makes the metal strong but also flexible.
Some of the key players operating in the alloy spring steel market are Hitachi Metals, Thyssenkrupp, Coiling Technologies, General Wire Spring, Continental Steel & Tube Company, Sandvik, Otai Special Steel, Novametal SA.
The alloy spring steel market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Alloy Spring Steel Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Alloy Spring Steel Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Alloy Spring Steel Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Alloy Spring Steel Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Alloy Spring Steel Market Size & Forecast, 2018-2028
4.5.1 Alloy Spring Steel Market Size and Y-o-Y Growth
4.5.2 Alloy Spring Steel Market Absolute $ Opportunity
Chapter 5 Global Alloy Spring Steel Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Alloy Spring Steel Market Size Forecast by Type
5.2.1 Chromium Vanadium
5.2.2 Silicon Manganese
5.2.3 Chromium Silicon
5.2.4 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Alloy Spring Steel Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Alloy Spring Steel Market Size Forecast by Applications
6.2.1 Heavy Vehicles
6.2.2 Industrial Equipment
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Alloy Spring Steel Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Alloy Spring Steel Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Alloy Spring Steel Analysis and Forecast
9.1 Introduction
9.2 North America Alloy Spring Steel Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Alloy Spring Steel Market Size Forecast by Type
9.6.1 Chromium Vanadium
9.6.2 Silicon Manganese
9.6.3 Chromium Silicon
9.6.4 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Alloy Spring Steel Market Size Forecast by Applications
9.10.1 Heavy Vehicles
9.10.2 Industrial Equipment
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Alloy Spring Steel Analysis and Forecast
10.1 Introduction
10.2 Europe Alloy Spring Steel Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Alloy Spring Steel Market Size Forecast by Type
10.6.1 Chromium Vanadium
10.6.2 Silicon Manganese
10.6.3 Chromium Silicon
10.6.4 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Alloy Spring Steel Market Size Forecast by Applications
10.10.1 Heavy Vehicles
10.10.2 Industrial Equipment
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Alloy Spring Steel Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Alloy Spring Steel Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Alloy Spring Steel Market Size Forecast by Type
11.6.1 Chromium Vanadium
11.6.2 Silicon Manganese
11.6.3 Chromium Silicon
11.6.4 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Alloy Spring Steel Market Size Forecast by Applications
11.10.1 Heavy Vehicles
11.10.2 Industrial Equipment
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Alloy Spring Steel Analysis and Forecast
12.1 Introduction
12.2 Latin America Alloy Spring Steel Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Alloy Spring Steel Market Size Forecast by Type
12.6.1 Chromium Vanadium
12.6.2 Silicon Manganese
12.6.3 Chromium Silicon
12.6.4 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Alloy Spring Steel Market Size Forecast by Applications
12.10.1 Heavy Vehicles
12.10.2 Industrial Equipment
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Alloy Spring Steel Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Alloy Spring Steel Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Alloy Spring Steel Market Size Forecast by Type
13.6.1 Chromium Vanadium
13.6.2 Silicon Manganese
13.6.3 Chromium Silicon
13.6.4 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Alloy Spring Steel Market Size Forecast by Applications
13.10.1 Heavy Vehicles
13.10.2 Industrial Equipment
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Alloy Spring Steel Market: Competitive Dashboard
14.2 Global Alloy Spring Steel Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Hitachi Metals
14.3.2 Thyssenkrupp
14.3.3 Coiling Technologies
14.3.4 General Wire Spring
14.3.5 Continental Steel & Tube Company
14.3.6 Sandvik
14.3.7 Otai Special Steel
14.3.8 Novametal SA
