Global Automotive leaf spring Market Size study, by Material Type (Steel spring and Composite leaf spring), By Vehicle Type (Light weight vehicles, Medium weight vehicles, and Heavy weight vehicles), by Spring Type (Parabolic leaf spring and Multi-leaf sp

Global Automotive leaf spring Market Size study, by Material Type (Steel spring and Composite leaf spring), By Vehicle Type (Light weight vehicles, Medium weight vehicles, and Heavy weight vehicles), by Spring Type (Parabolic leaf spring and Multi-leaf spring) and Regional Forecasts 2022-2029

Global Automotive leaf spring Market is valued at approximately USD XX Billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.5 % over the forecast period 2022-2029. The leaf spring in automotive sector is gaining rapid traction as it provides comfort, safety and load handling capability to the consumer. The technological advancements in automotive industry have led to the rising demand for leaf springs as the leaf spring is commonly used for suspensions to absorb shocks and vibrations along with bump loads with the help of spring deflection in vehicles. The ability of the leaf spring to reduce weight along with the material cost has led to the rising demand for light weight vehicles globally. The continuous expansion of auto component sector is another key factor driving the market growth.

According to Statista – as of the financial year 2022, the market size for auto components in India amounted to USD 56.5 billion, witnessing an increase from USD 46 billion in financial year 2021. Also, with the favorable government initiatives to increase fuel efficiencies by reducing the weight of vehicles, the leaf spring market is gaining traction over the forecast period. The factor leading to the wide adoption of leaf spring solutions as it serves as a replacement for traditional spring assembly due to their reduced weight and the ability to carry equal weight capacity. However, volatile cost of raw materials stifles market growth throughout the forecast period of 2022-2029.

The regional analysis of global Automotive leaf spring market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is expected to register significant growth over the forecast period owing to the increasing adoption of composite leaf springs in light weight vehicles and passenger cars. Whereas, Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as presence of major market players in the region tends to drive the market share of automotive leaf springs.

Major market players included in this report are:
Akar Tools Limited India
Auto Steels
Emco Industries
Hendrickson USA, L.L.C.
Jamna Auto Industries Ltd.
Jonas Woodhead & Sons India Ltd.
MackSprings
NHK Springs Co. Ltd.
Protopower Springs Pvt. Ltd.
Rassini

Recent Developments in the Market:
 In 2021, Hexion and Rassini announced a collaboration for the usage of composite leaf springs in Ford's new F-150 pickup truck. Rassini designed a hybrid rear suspension with a parabolic main steel leaf and a composite assist. Furthermore, Hexion's Epikote epoxy resin technology was chosen because it enables mass production of the composite helper spring.

Global Automotive Leaf Spring Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Material Type, Vehicle Type, Spring Type, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Material offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Material Type:
Steel Spring
Composite Leaf Spring

By Vehicle Type:
Light weight vehicles
Medium weight vehicles
Heavy weight vehicles

By Spring Type
Parabolic leaf spring
Multi-leaf spring

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World


Companies Mentioned

Akar Tools Limited India
Auto Steels
Emco Industries
Hendrickson USA, L.L.C.
Jamna Auto Industries Ltd.
Jonas Woodhead & Sons India Ltd.
MackSprings
NHK Springs Co. Ltd.
Protopower Springs Pvt. Ltd.
Rassini

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