Global Automotive Suspension Spring Market Analysis & Trends - Industry Forecast to 2030

Global Automotive Suspension Spring Market Analysis & Trends - Industry Forecast to 2030

Automotive Suspension Spring: Market Size

From $21.53 billion in 2024, the global Automotive Suspension Spring market is projected to reach $36.32 billion by 2030. Based on our analysis the market is expected to grow at a CAGR of 9.1% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include increased demand for electric vehicles, a rise in the sale of passenger and commercial vehicles, and an increase in the number of small and medium-scale industries across the globe.

Global Automotive Suspension Spring Market: Market Dynamics
Increasing demand for commercial vehicles due to the expansion of the industrial sector and the surge in the demand for electric vehicles across the globe are some of the factors driving the market growth.

On the other hand, the fluctuation in prices of raw materials is likely to obstruct the profit boundaries. In addition, light-weighting is imperative in the automotive industry and lightweight coil springs will further boost the Automotive Suspension Spring market.

Impact of COVID-19 on Automotive Suspension Spring
COVID-19 outbreak was unprecedented and uncovered vulnerabilities of various industries. Pandemic-induced obstructions also were registered in the Automotive Suspension Spring market. Sales plummeted as COVID-19 steadily tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took a nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown. Gradual recovery however is on the cards with the rollout of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

By Vehicle Type

Passenger Vehicle Segment Dominate the Market in 2024
The passenger vehicle segment made huge revenue in 2024 during the forecast period. The spread of the pandemic across the globe has prompted consumers to buy their own vehicles to avoid public transportation, which is likely to increase the demand for passenger vehicles across the globe. This, in turn, is estimated to propel the automotive suspension spring market across the globe.

By Geography

Europe Region is Leading in the Global Market Place
The European region is likely to have a huge demand in the forecast period due to a major presence of original equipment manufacturers across the region.

List of the Key Players Profiled in the Market Include:
• EMCO
• American Showa Inc.
• Continental AG
• Draco Spring Mfg. Co.
• Eaton Detroit Spring
• FAW Group
• Hendrickson
• Jamna Auto Industries
• Kilen Springs
• Marelli SpA
• NHK Springs
• Rassini
• Renton Coil Spring Co.
• Showa Corporation
• Sogefi
• TRW

List of the Regions/Countries Profiled in the Market Include:
North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others