Published on : Mar 30, 2018
Albany, New York, March 30, 2018: An informative study, titled “Automotive Leaf Spring Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025” has been recently broadcasted to the wide repository of Market Research Hub (MRH), which accurately predicts the future of the market and also gives an impression of the present market situation. The global market growth has been analyzed in terms of revenue and volume estimates (in US$ Mn and Thousand Units), across different geographies such as North America, Europe, Asia-Pacific, Middle East and Africa and South America. Besides, prominent countries covered in the report include the U.S., Canada, Germany, U.K., France, China, Japan, India, GCC, South Africa and Brazil.
Market Overview and Forecast Assumptions
According to the study key findings, the demand in the global automotive leaf spring market will multiply at a notable CAGR of 6.1% during the forecast period of 2017 to 2025. The analysts have also estimated that the vendors of the automotive leaf market will have an opportunity of US$7,631.1 mn by the end of 2025.
Automotive Leaf Spring helps in maintaining a good health of vehicle and safety of the passenger. They have now become a vital part of commercial vehicles as a suspension unit in the current situation. It has been analyzed that efficiency and effectiveness of the system over other suspension options is the main reason for installation of this system. There are various sizes of spring available in the market depending on the type and nature of vehicles.
In order to provide a comprehensive overview of the automotive leaf spring market, the research includes analysis of major trends and key drivers playing a major role in boosting the automotive leaf spring market growth over the forecast period. According to the report findings, rapid expansion of the automotive industry, constantly growing demand for commercial vehicles from the transportation sector, and rise in purchasing power of consumer are some of the prime factors contributing to its market growth. Geographically, Asia Pacific is currently the most lucrative region and is projected to remain so until 2025 too.
Moreover, market segmentation on the basis of types of end, vehicle type, sales channel, shape, can be grasped in a precise form. Types of Leaf Spring based on type of end is categorized as double end leaf spring and open eye leaf spring. Based on shapes, leaf spring is broadly segmented as parabolic leaf spring and elliptical leaf spring. On the other hand, by vehicle type the market can be segmented into passenger vehicles and commercial vehicles. The rising demand for commercial vehicles across the world led to the increase in demand for Leaf Spring in this segment.
Moreover, key players operating in the global automotive leaf spring market are highlighted in detail. Some of them are Protopower Springs Pvt. Ltd., Rassini, Kumar Steels, Jonas Woodhead & Sons India Ltd., Hendrickson USA, L.L.C., Sogefi SpA, Jamna Auto Industries, Emco Industries, LITEFLEX, NHK Springs Co. Ltd., Mubea, SGL Group, Auto Steels, IFC Composite, Olgun Çelik San., MackSprings, Vikrant Auto Suspensions, Akar Tools Limited India.
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