Market Overview:
The global truck and bus oil tempered spring steel wire market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X% during the forecast period. The market growth can be attributed to the increasing demand for commercial vehicles across the globe. The global truck and bus oil tempered spring steel wire market has been segmented on the basis of type, application, and region. On the basis of type, the market has been segmented into valve spring, suspension spring, and other types. The valve springs segment is expected to account for a major share of the global truck and bus oil tempered spring steel wire market in 2018 owing to its widespread use in automotive applications.
Product Definition:
Truck and bus oil tempered spring steel wire is a kind of high-quality carbon spring steel wire. After quenching and tempering, the hardness can reach up to HRC60-65. It has high toughness, wear resistance and fatigue resistance. Therefore, it is mainly used in the manufacture of truck springs, bus suspension springs and other precision parts.
Valve Spring:
Valve spring is a kind of elastic material, which is used to regulate the flow of gas or liquid in an enclosed space. It can be seen as a coil or a coiled piece and it has one end that controls the flow and the other end that allows free movement. The most common usage of valve spring is to control the pressure in an engine, so as to prevent damage due to excess pressure.
Suspension Spring:
A suspension spring is a device that helps to regulate the distance between two compression members and thus, affects the rebound of an object. It is usually made up of steel wire with a plastic or rubber coating over it. The springs are used in trucks and buses for oil tempered spring steel wire market as they help in maintaining the ride quality by absorbing shocks from bumps on roads.
Application Insights:
Truck application dominated the global market in 2017, accounting for over 60.0% share of the total revenue. The segment is expected to witness significant growth on account of increasing demand from end-use industries such as construction and mining. In addition, growing penetration of trucks in developing countries owing to low cost diesel fuel has widened the scope for growth for this segment over the recent years.
The bus application segment is also likely to grow at a considerable rate during the forecast period owing to rising demand from developing countries such as India and China that have invested heavily in new buses after 2010 due to increased industrialization.
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 Malaysia. Increasing road infrastructure spending coupled with rising commercial vehicle production in these countries will drive demand for oil tempered spring steel wire products over the forecast period.
The North American regional market accounted for a share of more than 20% of global revenue in 2017 owing to growing truck sales on account of increasing consumer disposable income levels and rapid urbanization across Mexico City, Monterrey and Guadalajara. In addition, improving economic conditions are likely to boost automotive sales growth across North America which will have a positive impact on industry growth over the next eight years.
Growth Factors:
- Increasing demand for commercial vehicles: The global truck and bus oil tempered spring steel wire market is expected to grow at a CAGR of 5.5% during the forecast period, owing to the increasing demand for commercial vehicles across the globe. This is mainly due to the rising disposable income and changing lifestyle of consumers, which has led to an increase in the demand for goods and services that are transported via trucks and buses.
- Growing urbanization: The growth of urban population is another key factor driving the truck and bus oil tempered spring steel wire market. Rapid urbanization has resulted in an increase in transportation needs, thereby leading to an increase in demand for commercial vehicles, including trucks and buses.
- Technological advancements: The development of new technologies such as electric vehicles (EVs) is expected to create opportunities for growth in the truck and bus oil tempered spring steel wire market during the forecast period. EVs are powered by batteries instead of traditional fuels such as gasoline or diesel, which requires lesser maintenance than traditional engines, resulting in lower operational costs over time. This is likely to lead to increased adoption of EVs worldwide, thereby creating opportunities for growth in the truck and bus oil tempered spring steel wire market .
Scope Of The Report
Report Attributes
Report Details
Report Title
Truck and Bus Oil Tempered Spring Steel Wire Market Research Report
By Type
Valve Spring, Suspension Spring, Other
By Application
Truck, Bus
By Companies
Suzuki Garphyttan, Kobe Steel, NETUREN, Bekaert, Sumitomo(SEI), Roeslau, Sugita, Suncall, American Spring Wire, PENGG AUSTRIA, Shanghai NETUREN, Zhengzhou Sinosteel, BAOSTEEL, Haina Special Steel, Jiangsu Jinji, Shougang Special Steel, Jiangsu Shenwang, Nippon Steel
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
163
Number of Tables & Figures
115
Customization Available
Yes, the report can be customized as per your need.
Global Truck and Bus Oil Tempered Spring Steel Wire Market Report Segments:
The global Truck and Bus Oil Tempered Spring Steel Wire market is segmented on the basis of:
Types
Valve Spring, Suspension Spring, 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
Truck, Bus
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:
- Suzuki Garphyttan
- Kobe Steel
- NETUREN
- Bekaert
- Sumitomo(SEI)
- Roeslau
- Sugita
- Suncall
- American Spring Wire
- PENGG AUSTRIA
- Shanghai NETUREN
- Zhengzhou Sinosteel
- BAOSTEEL
- Haina Special Steel
- Jiangsu Jinji
- Shougang Special Steel
- Jiangsu Shenwang
- Nippon Steel
Highlights of The Truck and Bus Oil Tempered Spring Steel Wire 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:
- Valve Spring
- Suspension Spring
- Other
- By Application:
- Truck
- Bus
- 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 Truck and Bus Oil Tempered Spring Steel Wire 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?
Truck and bus oil tempered spring steel wire is a type of wire that is used in the manufacturing of springs. It is made from a combination of hardened and tempered steel wires that are twisted together to create a strong, durable coil. This coil is then cut into small pieces and used in the production of springs, which helps to ensure that they are able to withstand high levels of stress.
Some of the key players operating in the truck and bus oil tempered spring steel wire market are Suzuki Garphyttan, Kobe Steel, NETUREN, Bekaert, Sumitomo(SEI), Roeslau, Sugita, Suncall, American Spring Wire, PENGG AUSTRIA, Shanghai NETUREN, Zhengzhou Sinosteel, BAOSTEEL, Haina Special Steel, Jiangsu Jinji, Shougang Special Steel, Jiangsu Shenwang, Nippon Steel.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Truck and Bus Oil Tempered Spring Steel Wire 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 Truck and Bus Oil Tempered Spring Steel Wire Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Truck and Bus Oil Tempered Spring Steel Wire 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 Truck and Bus Oil Tempered Spring Steel Wire 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 Truck and Bus Oil Tempered Spring Steel Wire Market Size & Forecast, 2018-2028
4.5.1 Truck and Bus Oil Tempered Spring Steel Wire Market Size and Y-o-Y Growth
4.5.2 Truck and Bus Oil Tempered Spring Steel Wire Market Absolute $ Opportunity
Chapter 5 Global Truck and Bus Oil Tempered Spring Steel Wire 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 Truck and Bus Oil Tempered Spring Steel Wire Market Size Forecast by Type
5.2.1 Valve Spring
5.2.2 Suspension Spring
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Truck and Bus Oil Tempered Spring Steel Wire 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 Truck and Bus Oil Tempered Spring Steel Wire Market Size Forecast by Applications
6.2.1 Truck
6.2.2 Bus
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Truck and Bus Oil Tempered Spring Steel Wire 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 Truck and Bus Oil Tempered Spring Steel Wire 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 Truck and Bus Oil Tempered Spring Steel Wire Analysis and Forecast
9.1 Introduction
9.2 North America Truck and Bus Oil Tempered Spring Steel Wire 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 Truck and Bus Oil Tempered Spring Steel Wire Market Size Forecast by Type
9.6.1 Valve Spring
9.6.2 Suspension Spring
9.6.3 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 Truck and Bus Oil Tempered Spring Steel Wire Market Size Forecast by Applications
9.10.1 Truck
9.10.2 Bus
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 Truck and Bus Oil Tempered Spring Steel Wire Analysis and Forecast
10.1 Introduction
10.2 Europe Truck and Bus Oil Tempered Spring Steel Wire 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 Truck and Bus Oil Tempered Spring Steel Wire Market Size Forecast by Type
10.6.1 Valve Spring
10.6.2 Suspension Spring
10.6.3 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 Truck and Bus Oil Tempered Spring Steel Wire Market Size Forecast by Applications
10.10.1 Truck
10.10.2 Bus
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 Truck and Bus Oil Tempered Spring Steel Wire Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Truck and Bus Oil Tempered Spring Steel Wire 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 Truck and Bus Oil Tempered Spring Steel Wire Market Size Forecast by Type
11.6.1 Valve Spring
11.6.2 Suspension Spring
11.6.3 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 Truck and Bus Oil Tempered Spring Steel Wire Market Size Forecast by Applications
11.10.1 Truck
11.10.2 Bus
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 Truck and Bus Oil Tempered Spring Steel Wire Analysis and Forecast
12.1 Introduction
12.2 Latin America Truck and Bus Oil Tempered Spring Steel Wire 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 Truck and Bus Oil Tempered Spring Steel Wire Market Size Forecast by Type
12.6.1 Valve Spring
12.6.2 Suspension Spring
12.6.3 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 Truck and Bus Oil Tempered Spring Steel Wire Market Size Forecast by Applications
12.10.1 Truck
12.10.2 Bus
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) Truck and Bus Oil Tempered Spring Steel Wire Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Truck and Bus Oil Tempered Spring Steel Wire 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) Truck and Bus Oil Tempered Spring Steel Wire Market Size Forecast by Type
13.6.1 Valve Spring
13.6.2 Suspension Spring
13.6.3 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) Truck and Bus Oil Tempered Spring Steel Wire Market Size Forecast by Applications
13.10.1 Truck
13.10.2 Bus
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 Truck and Bus Oil Tempered Spring Steel Wire Market: Competitive Dashboard
14.2 Global Truck and Bus Oil Tempered Spring Steel Wire Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Suzuki Garphyttan
14.3.2 Kobe Steel
14.3.3 NETUREN
14.3.4 Bekaert
14.3.5 Sumitomo(SEI)
14.3.6 Roeslau
14.3.7 Sugita
14.3.8 Suncall
14.3.9 American Spring Wire
14.3.10 PENGG AUSTRIA
14.3.11 Shanghai NETUREN
14.3.12 Zhengzhou Sinosteel
14.3.13 BAOSTEEL
14.3.14 Haina Special Steel
14.3.15 Jiangsu Jinji
14.3.16 Shougang Special Steel
14.3.17 Jiangsu Shenwang
14.3.18 Nippon Steel
