Market Overview:
The global suspension spring market is expected 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 passenger cars and commercial vehicles across the globe. Additionally, the rising demand for luxury and sports cars is also propelling the growth of this market. The coil spring segment is expected to dominate the global suspension spring market during the forecast period owing to its high durability and low maintenance cost as compared to other types of springs available in this market. The air spring segment is projected to grow at a higher CAGR than other segments during 2018-2030, owing to its advantages such as adjustable ride height, improved fuel economy, and better handling characteristics over traditional springs. Geographically, North America dominates the global suspension spring market followed by Europe due high demand for passenger cars in these regions.
Product Definition:
A suspension spring is a coil spring that supports the weight of a vehicle or other object. It also absorbs shocks caused by bumps in the road.
Coil Spring:
Coil spring is a type of elastic material, which is wound around a metal or wooden core. It has the ability to store energy and then re-release it when needed. The primary function of coil springs is to provide resistance and support for the vehicle’s suspension system. They are also used in other applications such as shock absorbers for trucks and sports cars among others.
Air Spring:
Air spring is a kind of pressure-regulating device that is used in automobile suspension systems. It helps to maintain the optimum level of stiffness and damping force without any external assistance from weights, fluids or compressors. The basic function of air springs is to store energy and release it gradually when needed thus helping the vehicle body to return to its original position after being compressed by tires.
Application Insights:
The global demand for coil suspension springs was valued at USD 5.5 billion in 2016 and is projected to reach USD 9.0 billion by 2030 at a CAGR of XX% from 2017 to 2030, on account of their extensive use in the automotive industry as anti-lock brakes (ABS) and electronic stability control (ESC). The growing safety concerns regarding vehicle rollover accidents has resulted in an increased demand for air suspension systems, which are estimated to witness significant growth over the forecast period owing to their rising adoption across various applications such as off-road vehicles, agricultural tractors and earthmoving equipment among others.
Regional Analysis:
Asia Pacific is expected to be the largest market over the forecast period owing to rapid industrialization and urbanization in this region. Rise in disposable income, coupled with a growing population, has led to an increase in vehicle production. This has resulted in high demand for automotive products across Asia Pacific. The presence of key automobile manufacturers such as Toyota Industries Corporation; Honda Motor Co., Ltd.; Nissan Motors Ltd.; Mazda Motor Corp.; Mitsubishi Electric Corporation; Suzuki Motor Corporation; and Isuzu Motors Ltd., will drive product demand further.
North America was valued at USD X million in 2017 and is anticipated to witness significant growth over the forecast period owing to increasing consumer preference towards passenger cars especially light weight vehicles (LWVs) due to stringent government regulations regarding fuel emissions & consumption coupled with rising environmental concerns about carbon footprints caused by vehicle exhausts etc.
Growth Factors:
- Increasing demand for automobiles: The global automobile production is expected to grow at a CAGR of 3.5% during the forecast period, owing to the increasing disposable income and changing lifestyle of consumers. This is expected to result in an increase in demand for suspension springs, as they are used in automotive applications.
- Growing popularity of off-road vehicles: Off-road vehicles are becoming increasingly popular among consumers due to their capability to handle difficult terrains and provide an adrenaline rush while driving them. This is resulting in an increase in demand for suspension springs that can handle the increased loads and shocks associated with off-road driving conditions.
- Technological advancements: The suspension spring market is witnessing rapid technological advancements, with manufacturers introducing new products that offer improved performance and durability as compared to traditional springs. This is resulting in increased adoption of these advanced products by original equipment manufacturers (OEMs) worldwide, thereby propelling the growth of the market .
- . Rising awareness about vehicle safety: Consumers are becoming increasingly aware about vehicle safety features such as suspensions systems and their role in ensuring passenger safety.. As a result, they are demanding OEMs equip their vehicles with better quality suspensions systems, which is benefiting the growth prospects of th esuspension spring market .
Scope Of The Report
Report Attributes
Report Details
Report Title
Suspension Spring Market Research Report
By Type
Coil Spring, Air Spring, Leaf Spring
By Application
Coil Spring, Air Spring, Leaf Spring
By Companies
NHK Spring, Sogefi, Rassini, Hendrickson, Mubea, Mitsubishi Steel, Chuo Spring, Jamna Auto Industries, Fangda Special Steel, Dongfeng Motor Suspension, Continental, Thyssenkrupp, Fawer, Vibracoustic, Eaton Detroit, Lesjöfors, Betts Spring, KYB, Shandong Leopard, Eibach, Firestone, Kilen Springs, Vikrant Auto, Zhejiang Meili, Akar Tools, BJ Spring
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
249
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Suspension Spring Market Report Segments:
The global Suspension Spring market is segmented on the basis of:
Types
Coil Spring, Air Spring, Leaf Spring
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
Coil Spring, Air Spring, Leaf Spring
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:
- NHK Spring
- Sogefi
- Rassini
- Hendrickson
- Mubea
- Mitsubishi Steel
- Chuo Spring
- Jamna Auto Industries
- Fangda Special Steel
- Dongfeng Motor Suspension
- Continental
- Thyssenkrupp
- Fawer
- Vibracoustic
- Eaton Detroit
- Lesjöfors
- Betts Spring
- KYB
- Shandong Leopard
- Eibach
- Firestone
- Kilen Springs
- Vikrant Auto
- Zhejiang Meili
- Akar Tools
- BJ Spring
Highlights of The Suspension Spring 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:
- Coil Spring
- Air Spring
- Leaf Spring
- By Application:
- Coil Spring
- Air Spring
- Leaf Spring
- 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 Suspension Spring 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?
A suspension spring is a metal or plastic coil that is used to suspend an object from another object. It helps to maintain the balance of the objects and allows them to move in a smooth, consistent manner.
Some of the key players operating in the suspension spring market are NHK Spring, Sogefi, Rassini, Hendrickson, Mubea, Mitsubishi Steel, Chuo Spring, Jamna Auto Industries, Fangda Special Steel, Dongfeng Motor Suspension, Continental, Thyssenkrupp, Fawer, Vibracoustic, Eaton Detroit, LesjƒÂ¶fors, Betts Spring, KYB, Shandong Leopard, Eibach, Firestone, Kilen Springs, Vikrant Auto, Zhejiang Meili, Akar Tools, BJ Spring.
The suspension spring market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Suspension Spring Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Suspension Spring Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Suspension Spring Market - Supply Chain
4.5. Global Suspension Spring Market Forecast
4.5.1. Suspension Spring Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Suspension Spring Market Size (000 Units) and Y-o-Y Growth
4.5.3. Suspension Spring Market Absolute $ Opportunity
5. Global Suspension Spring Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Suspension Spring Market Size and Volume Forecast by Type
5.3.1. Coil Spring
5.3.2. Air Spring
5.3.3. Leaf Spring
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Suspension Spring Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Suspension Spring Market Size and Volume Forecast by Application
6.3.1. Coil Spring
6.3.2. Air Spring
6.3.3. Leaf Spring
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Suspension Spring Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Suspension Spring Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Suspension Spring Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Suspension Spring Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Suspension Spring Demand Share Forecast, 2019-2026
9. North America Suspension Spring Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Suspension Spring Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Suspension Spring Market Size and Volume Forecast by Application
9.4.1. Coil Spring
9.4.2. Air Spring
9.4.3. Leaf Spring
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Suspension Spring Market Size and Volume Forecast by Type
9.7.1. Coil Spring
9.7.2. Air Spring
9.7.3. Leaf Spring
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Suspension Spring Demand Share Forecast, 2019-2026
10. Latin America Suspension Spring Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Suspension Spring Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Suspension Spring Market Size and Volume Forecast by Application
10.4.1. Coil Spring
10.4.2. Air Spring
10.4.3. Leaf Spring
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Suspension Spring Market Size and Volume Forecast by Type
10.7.1. Coil Spring
10.7.2. Air Spring
10.7.3. Leaf Spring
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Suspension Spring Demand Share Forecast, 2019-2026
11. Europe Suspension Spring Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Suspension Spring Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Suspension Spring Market Size and Volume Forecast by Application
11.4.1. Coil Spring
11.4.2. Air Spring
11.4.3. Leaf Spring
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Suspension Spring Market Size and Volume Forecast by Type
11.7.1. Coil Spring
11.7.2. Air Spring
11.7.3. Leaf Spring
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractieness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Suspension Spring Demand Share, 2019-2026
12. Asia Pacific Suspension Spring Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Suspension Spring Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Suspension Spring Market Size and Volume Forecast by Application
12.4.1. Coil Spring
12.4.2. Air Spring
12.4.3. Leaf Spring
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Suspension Spring Market Size and Volume Forecast by Type
12.7.1. Coil Spring
12.7.2. Air Spring
12.7.3. Leaf Spring
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Suspension Spring Demand Share, 2019-2026
13. Middle East & Africa Suspension Spring Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Suspension Spring Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Suspension Spring Market Size and Volume Forecast by Application
13.4.1. Coil Spring
13.4.2. Air Spring
13.4.3. Leaf Spring
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Suspension Spring Market Size and Volume Forecast by Type
13.7.1. Coil Spring
13.7.2. Air Spring
13.7.3. Leaf Spring
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Suspension Spring Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Suspension Spring Market: Market Share Analysis
14.2. Suspension Spring Distributors and Customers
14.3. Suspension Spring Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. NHK Spring
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Sogefi
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Rassini
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Hendrickson
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Mubea
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Mitsubishi Steel
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Chuo Spring
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Jamna Auto Industries
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Fangda Special Steel
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Dongfeng Motor Suspension
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Continental
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Thyssenkrupp
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Fawer
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Vibracoustic
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Eaton Detroit
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Lesjöfors
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Betts Spring
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. KYB
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Shandong Leopard
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Eibach
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
