Automotive Leaf Springs Market
Report code - SRTI119 | Published On : Nov,2018 | Status: Published | No. of Pages: 260

Automotive Leaf Spring Market by Vehicle Type (Passenger Car, Light-Duty Commercial Vehicle, Medium- & Heavy-Duty Vehicle, and Others), by Spring Type (Parabolic Leaf Spring and Multi-Leaf Spring), by Material Type (Metal Leaf Springs and Composite Leaf Springs), by Location Type (Front Suspension and Rear Suspension), by Manufacturing Process Type (Shot Peening, HP-RTM, and Others), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024

This report, from Stratview Research, studies the global leaf spring market in the automotive industry over the trend period from 2013 to 2018 and the forecast period from 2019 to 2024. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Automotive Leaf Spring Market Highlights

A leaf spring is a spring comprising leaves and is commonly used for suspension in the wheeled vehicles. It is a semi-elliptical arm consisting of one or more leaves, which are strips of steel or other materials that are meant to flex under pressure yet maintain their original shape when not under pressure. Leaf springs are one of the oldest suspension components and are still being used in most of the LCVs and MHCVs. There is another type of spring called coil spring, which has a widespread usage in passenger cars.

Over a period of time, the automotive industry has witnessed a remarkable transition in the leaf spring technology, material, style, design, etc. There are countless styles of leaf-spring suspension available worldwide featuring different mounting points, shapes, and sizes. At the same time, there are a lot of R&D activities happening for the development of lightweight alternatives of heavier steel leaf springs. Composite leaf springs are the outcome of these activities, offering significant weight saving advantage over steel springs without sacrificing performance.

The next five years for the leaf spring market in the automotive industry seems attractive with significant growth opportunities in both, OE as well as aftermarket segments. The market for automotive leaf springs is set to reach an estimated value of US$ 5.8 billion in 2024, witnessing a healthy growth in the coming years. Several factors are bolstering the demand for leaf springs. Among which, rising production of LCVs and MHCVs is the biggest growth factor contributing to a greater demand for leaf springs. Other noticeable driving factors are advancements in the leaf spring technology, such as parabolic leaf springs; greater demand for lightweight springs, especially composite leaf springs; and rising automotive fleet.   

The major leaf spring manufacturers are strategically focusing on the development of advanced leaf springs in order to remain a leading player in this fiercely competitive market. For instance; metal leaf spring manufacturers are advancing their product portfolio by introducing parabolic springs, whereas composite leaf spring manufacturers are trying to develop composite leaf springs for heavy-duty commercial vehicles.  

Weight reduction is one of the mega trends in the automotive industry. It can be achieved primarily through the introduction of better materials, design optimization, and better manufacturing processes. Selection of any material for an application is based on the relative cost as well as the strength of the material. There are several advanced materials available with light-weighting advantage. Composite materials are one of them with elastic strain energy, better fatigue resistance, and higher strength-to-weight ratio compared to steel. It provides significant weight reduction with adequate improvement in the mechanical properties and is one of the best replacement materials for conventional steel.

Based on the material type, the market is segmented into steel springs and composite leaf springs. Steel leaf spring is expected to remain the larger spring type in the next five years; however, composite spring is likely to witness the higher growth for the same period. Composite springs offer excellent strength-to-weight ratio, fatigue resistance, and natural frequency and are about five times more durable than a steel spring. Internal damping in the composite materials leads to excellent absorption of vibration energy within the parts, resulting in, a reduced transmission of vibration noise to the neighboring structures.

Based on the vehicle type, the market is segmented into passenger car, LCV, MHCV, and others. MHCV dominates the market in terms of value and is likely to maintain its dominance in the coming five years as well. Large production base of MHCVs coupled with high penetration of leaf springs in MHCVs and large MHCV fleet are the key whys and wherefores behind the dominance of MHCVs in the market.

In terms of region, Asia-Pacific is expected to remain the largest market for leaf springs in the foreseen future, because of increasing production of MHCVs in the developing Asian economies, such as China and India. China, Japan, and South Korea are likely to remain the major markets in the region; however, India is likely to be the new growth engine of the region’s market in the coming five years. Several automakers are eyeing on the Indian market and have huge plans to open manufacturing plants in the country in order to leverage the benefits offered by the government under several manufacturing boost initiatives, such as Make in India.

Europe and North America, other major markets, are also likely to have a positive outlook in the coming five years. The USA and Mexico are likely to be the major markets in North America, whereas Russia, Germany, and France are the major markets in Europe.

The supply chain of this market comprises raw material suppliers, leaf spring manufacturers, distributors, Automotive OEMs, and Dealers. The key automotive OEMs are Daimler, Navistar, GM, Volvo, MAN, Tata Motors, Peterbilt, and Toyota. The automotive leaf spring market is highly fragmented with the presence of more than 100 global and regional players catering to different requirements of the industry. It is found that a handful of metal leaf spring manufacturers have the capability to manufacture composite leaf springs. The key leaf spring manufacturers are Rassini, Hendrickson, Jamna Auto Industries, Dongfeng Motors, and IFC Composite. New product development, capacity expansion, formation of strategic alliances are the key strategies adopted by the key players to gain a competitive edge in the market.

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. More than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts have been executed to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
  • Market trend and forecast analysis
  • Market segment trend and forecast
  • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
  • Attractive market segments and associated growth opportunities
  • Emerging trends of the carbon brakes market
  • Strategic growth opportunities for the existing and new players
  • Key success factors

 

The leaf spring market in the automotive industry is segmented into the following categories. 

Automotive Leaf Spring Market by Vehicle Type:

  • Passenger Car (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • Light-Duty Commercial Vehicles (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • Medium- & Heavy-Duty Commercial Vehicles (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive Leaf Spring Market by Spring Type:

  • Parabolic Springs (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • Multi-Leaf Springs (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive Leaf Spring Market by Material Type:

  • Metal Leaf Springs (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • Composite Leaf Springs (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive Leaf Spring Market by Spring Location Type:

  • Front Suspension (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • Rear Suspension (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive Leaf Spring Market by Manufacturing Process Type:

  • Shot Peening (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • HP-RTM (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive Leaf Spring Market by End-User Type:

  • OE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Automotive Leaf Spring Market by Region:

  • North America (Country Analysis: The USA, Canada, and Mexico) 
  • Europe (Country Analysis: Germany, France, the UK, Italy, Russia, and Rest of Europe) 
  • Asia-Pacific (Country Analysis: China, Japan, South Korea, India, and Rest of Asia-Pacific) 
  • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others) 

 

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

  • Detailed profiling of additional market players (up to 3)
  • SWOT analysis of key players (up to 3)

Regional Segmentation

  • Current market segmentation of any one of the countries by spring type

Competitive Benchmarking

  • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.


List of Figures

List of Tables

Disclaimer

Copyright

Abbreviation

Currency Exchange

About Us

Research Methodology

Secondary Research

Key Information Gathered from Secondary Research

Primary Research

Key Information Gathered from Primary Research

Breakdown of Primary Interviews by Region, Designation, and Value Chain Node

Data Analysis and Triangulation

Report Scope

Report Objectives  

1.       Executive Summary  

2.       Automotive Leaf Spring Market – Overview and Market Forces

2.1.                Introduction

2.2.                Market Evolution

2.3.                Market Classification

2.3.1.                         By Vehicle Type

2.3.2.                         By Spring Type

2.3.3.                         By Material Type

2.3.4.                         By Location Type

2.3.5.                         By Manufacturing Process Type

2.3.6.                         By End-User Type

2.3.7.                         By Region

2.4.                Steel vs Composites Leaf Spring

2.5.                Market Drivers

2.6.                Market Constraints

2.7.                PEST Analysis: Impact Assessment of Changing Business Environment

2.8.                Industry Life Cycle Analysis

2.9.                Supply Chain Analysis

2.10.            Porter’s Five Forces Analysis

2.10.1.                    Bargaining Power of Suppliers

2.10.2.                    Bargaining Power of Customers

2.10.3.                    Threat of New Entrants

2.10.4.                    Threat of Substitutes

2.10.5.                    Competitive Rivalry

2.11.            SWOT Analysis

3.       Automotive Leaf Spring Market Analysis – By Vehicle Type  

3.1.                Strategic Insights 

3.2.                Passenger Car Leaf Spring Market Trend and Forecast (US$ Million and Million Units)

3.2.1.                         Regional Trend and Forecast (US$ Million and Million Units)

3.3.                LCV Leaf Spring Market Trend and Forecast (US$ Million and Million Units)

3.3.1.                         Regional Trend and Forecast (US$ Million and Million Units)

3.4.                MHCV Leaf Spring Market Trend and Forecast (US$ Million and Million Units)

3.4.1.                         Regional Trend and Forecast (US$ Million and Million Units)

3.5.                Other Leaf Springs Market Trend and Forecast (US$ Million and Million Units)

3.5.1.                         Regional Trend and Forecast (US$ Million and Million Units)

4.       Automotive Leaf Spring Market Analysis – By Spring Type 

4.1.                Strategic Insights 

4.2.                Parabolic Leaf Spring Market Trend and Forecast (US$ Million and Million Units)

4.2.1.                         Regional Trend and Forecast (US$ Million and Million Units)

4.3.                Multi-Leaf Spring Market Trend and Forecast (US$ Million and Million Units)

4.3.1.                         Regional Trend and Forecast (US$ Million and Million Units)

5.       Automotive Leaf Spring Market Analysis – By Material Type 

5.1.                Strategic Insights 

5.2.                Metal Leaf Spring Market Trend and Forecast (US$ Million and Million Units)

5.2.1.                         Regional Trend and Forecast (US$ Million and Million Units)

5.3.                Composite Leaf Spring Market Trend and Forecast (US$ Million and Million Units)

5.3.1.                         Regional Trend and Forecast (US$ Million and Million Units)

6.       Automotive Leaf Spring Market Analysis – By Location Type 

6.1.                Strategic Insights 

6.2.                Front: Automotive Leaf Spring Market Trend and Forecast (US$ Million and Million Units)

6.2.1.                         Regional Trend and Forecast (US$ Million and Million Units)

6.3.                Rear: Automotive Leaf Spring Market Trend and Forecast (US$ Million and Million Units)

6.3.1.                         Regional Trend and Forecast (US$ Million and Million Units)

7.       Automotive Leaf Spring Market Analysis – By Manufacturing Process Type 

7.1.                Strategic Insights 

7.2.                Shot Peening Process: Automotive Leaf Spring Market Trend and Forecast (US$ Million and Million Units)

7.2.1.                         Regional Trend and Forecast (US$ Million and Million Units)

7.3.                HP-RTM: Automotive Leaf Spring Market Trend and Forecast (US$ Million and Million Units)

7.3.1.                         Regional Trend and Forecast (US$ Million and Million Units)

7.4.                Other Processes: Automotive Leaf Spring Market Trend and Forecast (US$ Million and Million Units)

7.4.1.                         Regional Trend and Forecast (US$ Million and Million Units)

8.       Automotive Leaf Spring Market Analysis – By End-User Type 

8.1.                Strategic Insights 

8.2.                OE: Automotive Leaf Spring Market Trend and Forecast (US$ Million and Million Units)

8.2.1.                         Regional Trend and Forecast (US$ Million and Million Units)

8.3.                Aftermarket: Automotive Leaf Spring Market Trend and Forecast (US$ Million and Million Units)

8.3.1.                         Regional Trend and Forecast (US$ Million and Million Units)

9.       Automotive Leaf Spring Market Analysis – By Region  

9.1.                Strategic Insights 

9.2.                North American Automotive Leaf Spring Market Analysis

9.2.1.                         North American Automotive Leaf Spring Market T&F, by Country (US$ Million and Million Units)

9.2.1.1.                                   The USA: Automotive Leaf Spring Market (US$ Million and Million Units)

9.2.1.2.                                   Canada: Automotive Leaf Spring Market (US$ Million and Million Units)

9.2.1.3.                                   Mexico: Automotive Leaf Spring Market (US$ Million and Million Units)

9.2.2.                         North American Automotive Leaf Spring Market T&F, by Vehicle Type (US$ Million and Million Units)

9.2.3.                         North American Automotive Leaf Spring Market T&F, by Spring Type (US$ Million and Million Units)

9.2.4.                         North American Automotive Leaf Spring Market T&F, by Material Type (US$ Million and Million Units)

9.2.5.                         North American Automotive Leaf Spring Market T&F, by Location Type (US$ Million and Million Units)

9.2.6.                         North American Automotive Leaf Spring Market T&F, by Process Type (US$ Million and Million Units)

9.2.7.                         North American Automotive Leaf Spring Market T&F, by End-User Type (US$ Million and Million Units)

9.3.                European Automotive Leaf Spring Market Analysis

9.3.1.                         European Automotive Leaf Spring Market T&F, by Country (US$ Million and Million Units)

9.3.1.1.                                   Germany: Automotive Leaf Spring Market (US$ Million and Million Units)

9.3.1.2.                                   France: Automotive Leaf Spring Market (US$ Million and Million Units)

9.3.1.3.                                   Italy: Automotive Leaf Spring Market (US$ Million and Million Units)

9.3.1.4.                                   The UK: Automotive Leaf Spring Market (US$ Million and Million Units)

9.3.1.5.                                   Russia: Automotive Leaf Spring Market (US$ Million and Million Units)

9.3.1.6.                                   RoE: Automotive Leaf Spring Market (US$ Million and Million Units)

9.3.2.                         European Automotive Leaf Spring Market T&F, by Vehicle Type (US$ Million and Million Units)

9.3.3.                         European Automotive Leaf Spring Market T&F, by Spring Type (US$ Million and Million Units)

9.3.4.                         European Automotive Leaf Spring Market T&F, by Material Type (US$ Million and Million Units)

9.3.5.                         European Automotive Leaf Spring Market T&F, by Location Type (US$ Million and Million Units)

9.3.6.                         European Automotive Leaf Spring Market T&F, by Process Type (US$ Million and Million Units)

9.3.7.                         European Automotive Leaf Spring Market T&F, by End-User Type (US$ Million and Million Units)

9.4.                Asia-Pacific’s Automotive Leaf Spring Market Analysis

9.4.1.                         Asia-Pacific’s Automotive Leaf Spring Market T&F, by Country (US$ Million and Million Units)

9.4.1.1.                                   China: Automotive Leaf Spring Market (US$ Million and Million Units)

9.4.1.2.                                   Japan: Automotive Leaf Spring Market (US$ Million and Million Units)

9.4.1.3.                                   South Korea: Automotive Leaf Spring Market (US$ Million and Million Units)

9.4.1.4.                                   India: Automotive Leaf Spring Market (US$ Million and Million Units)

9.4.1.5.                                   RoAP: Automotive Leaf Spring Market (US$ Million and Million Units)

9.4.2.                         Asia-Pacific’s Automotive Leaf Spring Market T&F, by Vehicle Type (US$ Million and Million Units)

9.4.3.                         Asia-Pacific’s Automotive Leaf Spring Market T&F, by Spring Type (US$ Million and Million Units)

9.4.4.                         Asia-Pacific’s Automotive Leaf Spring Market T&F, by Material Type (US$ Million and Million Units)

9.4.5.                         Asia-Pacific’s Automotive Leaf Spring Market T&F, by Location Type (US$ Million and Million Units)

9.4.6.                         Asia-Pacific’s Automotive Leaf Spring Market T&F, by Process Type (US$ Million and Million Units)

9.4.7.                         Asia-Pacific’s Automotive Leaf Spring Market T&F, by End-User Type (US$ Million and Million Units)

9.5.                Rest of the World’s (RoW) Automotive Leaf Spring Market Analysis

9.5.1.                         RoW’s Automotive Leaf Spring Market T&F, by Sub-Region (US$ Million and Million Units)

9.5.1.1.                                   Latin America: Automotive Leaf Spring Market (US$ Million and Million Units)

9.5.1.2.                                   The Middle East: Automotive Leaf Spring Market (US$ Million and Million Units)

9.5.1.3.                                   Others: Automotive Leaf Spring Market (US$ Million and Million Units)

9.5.2.                         RoW’s Automotive Leaf Spring Market T&F, by Vehicle Type (US$ Million and Million Units)

9.5.3.                         RoW’s Automotive Leaf Spring Market T&F, by Spring Type (US$ Million and Million Units)

9.5.4.                         RoW’s Automotive Leaf Spring Market T&F, by Material Type (US$ Million and Million Units)

9.5.5.                         RoW’s Automotive Leaf Spring Market T&F, by Location Type (US$ Million and Million Units)

9.5.6.                         RoW’s Automotive Leaf Spring Market T&F, by Process Type (US$ Million and Million Units)

9.5.7.                         RoW’s Automotive Leaf Spring Market T&F, by End-User Type (US$ Million and Million Units)

10.   Competitive Analysis

10.1.            Strategic Insights

10.2.            Product Portfolio Analysis

10.3.            Presence by Automotive Segment

10.4.            Geographical Presence

10.5.            New Product Launches

10.6.            Mergers and Acquisitions

10.7.            Market Share Analysis

11.   Strategic Growth Opportunities

11.1.            Strategic Insights

11.2.            Market Attractive Analysis

11.2.1.                    Market Attractiveness by Vehicle Type

11.2.2.                    Market Attractiveness by Spring Type

11.2.3.                    Market Attractiveness by Material Type

11.2.4.                    Market Attractiveness by Manufacturing Process

11.2.5.                    Market Attractiveness by Spring Location Type

11.2.6.                    Market Attractiveness by End-User Type

11.2.7.                    Market Attractiveness by Region

11.2.8.                    Market Attractiveness by Country

11.3.            Emerging Trends

11.4.            Key Success Factors

11.5.            Growth Matrix Analysis

12.   Company Profile of Key Players

12.1.            SGL Group

12.2.            Dongfeng Motor Suspension Spring Co., Ltd.

12.3.            EMCO Industries

12.4.            FAW Group Corporation 

12.5.            Hendrickson International

12.6.            IFC Composite

12.7.            Jamna Auto Industries

12.8.            Life Flex LLC

12.9.            NHK Spring Co.; Ltd.

12.10.          Rassini

12.11.          Sogefi Group



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