Market Overview:
The global machined springs 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 machined springs from various end-use industries, such as automobiles, machines and machining centers, oil industry, and others. Steel is the most commonly used material for manufacturing machined springs across the globe. However, copper alloys are gaining popularity due to their properties such as high strength-to-weight ratio and corrosion resistance. Asia Pacific is expected to be the fastest growing region in terms of revenue during the forecast period owing to rising demand from developing countries such as China and India.
Product Definition:
Machined springs are precision-formed, metal coils that have been cut to a specific size and shape. They are often used in applications where a high level of accuracy and consistent performance is required. Machined springs can be made from a variety of materials, including stainless steel, brass, and copper.
Steel:
Steel is a hard, malleable, and strong metal that is alloyed with various other metals to improve its properties. It can be made into different shapes and sizes depending on the end use. Steel has been used in manufacturing springs for as long as it has been available; however, there are few factors that have hindered its growth in the machined spring market over the years.
Copper Alloys:
Copper alloys are a group of metals that exhibit similar properties. The most common copper alloy is called COPPER (95% to 5% Copper). Other well-known alloys include COPPERSITE (75% Copper, 20% Nickel), Kupfer-Zinc (65 % Copper, 35 % Zinc), and CuZnBi alloy (40 % CuZnBi 2 3 4, 60 % ZnSb).
Application Insights:
Automotive components was the largest application segment in 2017 and is expected to continue its dominance over the forecast period. The rising demand for lightweight materials has resulted in an increased use of machined springs, which are used as part of a suspension system.
The oil industry segment accounted for 15.3% share of the global revenue in 2017 and is expected to grow at a significant rate over the forecast period owing to increasing drilling activities across various regions coupled with growing concerns regarding spring fatigue due to high-pressure operations on oil wells. Drilling muds act as lubricants during drilling operations but create pressure on wellbores, which results in higher wear rates on drill bit surfaces and necessitates replacement of worn parts with new ones, thereby driving growth further.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing market for machined springs over the forecast period. The growth can be attributed to increasing demand from industries including automotive, aerospace and defense, industrial machinery, and others. China is one of the largest producers of steel as well as other metals such as aluminum and copper; thus it imports a large amount of machined components from various countries including Japan, Germany, Russia among others. Increasing production in these countries coupled with growing demand from end-use industries will drive regional market growth over the next eight years.
Europe accounted for more than 25% share in 2016 owing to high product utilization in applications such as aerospace equipment manufacturing and machine tools among others.
Growth Factors:
- Increasing demand from the automotive industry for fuel efficiency and lightweight components
- Growing demand for machined springs in medical devices and equipment
- Rising popularity of miniaturized machined springs in consumer electronics
- Increased use of machined springs in aerospace applications
- Technological advancements that enable higher precision and performance
Scope Of The Report
Report Attributes
Report Details
Report Title
Machined Springs Market Research Report
By Type
Steel, Copper Alloys, Others
By Application
Automobile Components, Machines and Machining Centers, Oil Industry, Others
By Companies
Helical Products Company, MW Industries, ABSSAC, Taylor Devices, Nippon Chemical Screw & Co., Ltd., Chemis Netshopping
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
178
Number of Tables & Figures
125
Customization Available
Yes, the report can be customized as per your need.
Global Machined Springs Market Report Segments:
The global Machined Springs market is segmented on the basis of:
Types
Steel, Copper Alloys, Others
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
Automobile Components, Machines and Machining Centers, Oil Industry, Others
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:
- Helical Products Company
- MW Industries
- ABSSAC
- Taylor Devices
- Nippon Chemical Screw & Co., Ltd.
- Chemis Netshopping
Highlights of The Machined Springs 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:
- Steel
- Copper Alloys
- Others
- By Application:
- Automobile Components
- Machines and Machining Centers
- Oil Industry
- Others
- 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 Machined Springs 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?
Machined Springs is a company that manufactures springs for industrial and consumer applications.
Some of the major players in the machined springs market are Helical Products Company, MW Industries, ABSSAC, Taylor Devices, Nippon Chemical Screw & Co., Ltd., Chemis Netshopping.
The machined springs market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Machined Springs 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 Machined Springs Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Machined Springs 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 Machined Springs 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 Machined Springs Market Size & Forecast, 2020-2028 4.5.1 Machined Springs Market Size and Y-o-Y Growth 4.5.2 Machined Springs Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Steel
5.2.2 Copper Alloys
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Automobile Components
6.2.2 Machines and Machining Centers
6.2.3 Oil Industry
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Machined Springs 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 Machined Springs 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Steel
9.6.2 Copper Alloys
9.6.3 Others
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 Market Size Forecast by Applications
9.10.1 Automobile Components
9.10.2 Machines and Machining Centers
9.10.3 Oil Industry
9.10.4 Others
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Steel
10.6.2 Copper Alloys
10.6.3 Others
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 Market Size Forecast by Applications
10.10.1 Automobile Components
10.10.2 Machines and Machining Centers
10.10.3 Oil Industry
10.10.4 Others
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Steel
11.6.2 Copper Alloys
11.6.3 Others
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 Market Size Forecast by Applications
11.10.1 Automobile Components
11.10.2 Machines and Machining Centers
11.10.3 Oil Industry
11.10.4 Others
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Steel
12.6.2 Copper Alloys
12.6.3 Others
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 Market Size Forecast by Applications
12.10.1 Automobile Components
12.10.2 Machines and Machining Centers
12.10.3 Oil Industry
12.10.4 Others
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Steel
13.6.2 Copper Alloys
13.6.3 Others
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) Market Size Forecast by Applications
13.10.1 Automobile Components
13.10.2 Machines and Machining Centers
13.10.3 Oil Industry
13.10.4 Others
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 Machined Springs Market: Competitive Dashboard
14.2 Global Machined Springs Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Helical Products Company
14.3.2 MW Industries
14.3.3 ABSSAC
14.3.4 Taylor Devices
14.3.5 Nippon Chemical Screw & Co., Ltd.
14.3.6 Chemis Netshopping