Market Overview:
The global truck oil tempered spring steel wire market is estimated to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for trucks across the globe. The market is segmented by type, application, and region. By type, the market is segmented into valve spring, suspension spring, and other types of springs. By application, the market is divided into heavy truck and light truck applications. Geographically, the global truck oil tempered spring steel wire market is segmented into North America, Latin America, Europe Asia Pacific (APAC), and Middle East & Africa (MEA). North America dominates the global truck oil tempered spring steel wire with a share of more than 30%. This can be attributed to factors such as high demand for commercial vehicles in this region coupled with stringent emission norms that mandate use of high-quality components in vehicles. APAC follows North America with a significant share due to rising demand for commercial vehicles from countries such as China and India .
Product Definition:
A truck oil tempered spring steel wire is a type of steel that has been heat-treated and then oil tempered. This type of steel is often used in the manufacturing of springs, as it has a high tensile strength and can withstand high levels of stress.
Valve Spring:
Valve spring is a kind of elastic material, which is wound around a cylinder and has the ability to regain its original shape after being bent. It’s used in various applications such as automotive, industrial machinery and equipment, consumer goods etc.
Suspension Spring:
A suspension spring is a device that relieves the pressure on a compression spring when actuated. It is usually used in an automobile to provide resistance against the weight of the vehicle and absorb shocks caused by bumps in roads. They are also known as air springs or gas springs, depending upon their application.
The global truck oil tempered steel wire market size was valued at USD 1,48 billion in 2016.
Application Insights:
The heavy truck application segment led the market and accounted for more than 54.0% share of the global revenue in 2017. The segment is expected to witness significant growth over the forecast period on account of increasing demand from construction, mining and agricultural industries in developed economies such as U.S., Canada, Germany and France. In addition, growing penetration of trucks for transporting goods across countries is anticipated to further boost product demand over the forecast period.
The light truck application segment is projected to grow at a CAGR of XX%, in terms of revenue, from 2018 to 2030 owing to rising consumer preference for vehicles with better performance capabilities coupled with comfort levels while driving on long journeys or commutes within cities or townships across various regions globally including North America, Europe.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The presence of key truck manufacturing companies such as Toyota Industries Corporation, Suzuki Motor Corporation, Nissan Diesel Co., Ltd., Isuzu Motors Ltd., Mitsubishi Fuso Truck & Bus Corp. and Honda Motor Co., Ltd. has resulted in high production of trucks across Asia Pacific region. Furthermore, increasing demand for commercial vehicles from developing countries such as India and China is anticipated to drive the growth further.
North America accounted for a significant share owing to heavy investments made by major players in this region coupled with favorable government regulations regarding fuel economy of heavy-duty vehicles which are driven on a regular basis across U.
Growth Factors:
- Increasing demand for trucks from the transportation sector
- Rising disposable income of consumers in developing countries
- Technological advancements in truck manufacturing industry
- Growing popularity of electric and hybrid trucks
- Stringent government regulations on emissions and fuel efficiency
Scope Of The Report
Report Attributes
Report Details
Report Title
Truck Oil Tempered Spring Steel Wire Market Research Report
By Type
Valve Spring, Suspension Spring, Other
By Application
Heavy Truck, Light Truck
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
156
Number of Tables & Figures
110
Customization Available
Yes, the report can be customized as per your need.
Global Truck Oil Tempered Spring Steel Wire Market Report Segments:
The global Truck 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
Heavy Truck, Light Truck
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 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:
- Heavy Truck
- Light Truck
- 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 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.
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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 oil tempered spring steel wire is a type of wire used in industrial applications. It is made from a combination of hardened and tempered steel wires that are twisted together to create a strong, durable cable. Truck oil tempered spring steel wire is often used in applications that require high levels of strength and durability, such as construction sites and manufacturing plants.
Some of the major players in the truck 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.
The truck oil tempered spring steel wire 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 Truck 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 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 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 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 Oil Tempered Spring Steel Wire Market Size & Forecast, 2018-2028 4.5.1 Truck Oil Tempered Spring Steel Wire Market Size and Y-o-Y Growth 4.5.2 Truck Oil Tempered Spring Steel Wire Market Absolute $ Opportunity
Chapter 5 Global Truck 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 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 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 Oil Tempered Spring Steel Wire Market Size Forecast by Applications
6.2.1 Heavy Truck
6.2.2 Light Truck
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Truck 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 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 Oil Tempered Spring Steel Wire Analysis and Forecast
9.1 Introduction
9.2 North America Truck 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 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 Oil Tempered Spring Steel Wire Market Size Forecast by Applications
9.10.1 Heavy Truck
9.10.2 Light Truck
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 Oil Tempered Spring Steel Wire Analysis and Forecast
10.1 Introduction
10.2 Europe Truck 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 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 Oil Tempered Spring Steel Wire Market Size Forecast by Applications
10.10.1 Heavy Truck
10.10.2 Light Truck
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 Oil Tempered Spring Steel Wire Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Truck 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 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 Oil Tempered Spring Steel Wire Market Size Forecast by Applications
11.10.1 Heavy Truck
11.10.2 Light Truck
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 Oil Tempered Spring Steel Wire Analysis and Forecast
12.1 Introduction
12.2 Latin America Truck 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 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 Oil Tempered Spring Steel Wire Market Size Forecast by Applications
12.10.1 Heavy Truck
12.10.2 Light Truck
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 Oil Tempered Spring Steel Wire Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Truck 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 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 Oil Tempered Spring Steel Wire Market Size Forecast by Applications
13.10.1 Heavy Truck
13.10.2 Light Truck
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 Oil Tempered Spring Steel Wire Market: Competitive Dashboard
14.2 Global Truck 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