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Automotive Leaf Spring Aftermarket Report
Automotive Leaf Spring Aftermarket Size, Share, Trend, Forecast, & Competitive Analysis: 2019-2024
The Leaf Spring Aftermarket is Segmented by Vehicle Type (Passenger Car, LCV, M&HCV, and Others), by Spring Type (Parabolic Leaf Spring and Multi-Leaf Spring), by Location Type (Front Suspension and Rear Suspension), and by Region...
Leaf spring is one of the oldest suspension components and is still being preferred in most of the LCVs and MHCVs. The automotive industry has witnessed a remarkable transition in the leaf spring technology, material, style, design, etc. over a period of time. There are countless styles of leaf-spring suspension available worldwide featuring different mounting points, shapes, and sizes. Leaf spring has to be replaced frequently, generally in 9-12 months, due to the damages like sag, break, and crack, caused by several factors including uneven road and excess load on the vehicle.
The global automotive leaf spring aftermarket size is likely to witness a healthy growth rate over the next five years to reach an estimated value of US$ 1,998.8 million in 2024. Increasing automotive fleet size is the key driver of the leaf spring aftermarket demand. Organic growth in automobile production owing to increasing disposable income and growing urbanization, is also imprinting a positive impact on the future demand for leaf springs in the aftermarket segment.
