Automotive Leaf Spring Market Sales Analysis, Industry Size, Share, Top Manufacturers, Global Trends, Growth Dynamics and Forecast 2030

The Global Automotive Leaf Spring Market is estimated to be worth USD 6.8 Billion by 2030, registering a 6.5% CAGR during the forecast period (2022- 2030).

Automotive Leaf Spring Market Insights

An automotive leaf spring is applied as a suspension system to support the vehicle by absorbing the bumps on uneven road tracks. Such springs encompass leaves and include one or more leaves. They are among one the traditional suspension systems for wheeled vehicles.

The leaf spring consist simple structure, reliable operation, low cost, and simple maintenance. It can transmit many forces and moments, determines the jumping trajectory of the wheel, and at the same time, it also has an assertive friction-damping effect.

Automotive Leaf Spring Market Key Players

The Global Automotive Leaf Spring Market’s prominent key players are;

• Rassini (Mexico)
• Hendrickson USA L.L.C. (US)
• Sogefi SpA (Italy)
• Jamna Auto Industries (India)
• Emco Industries (India)
• LITEFLEX (US)
• IFC Composite GmbH (Germany)
• NHK Springs Co. Ltd (Japan)
• Benteler-SGL (Austria)
• OlgunCelik San. Tic. A.S. (Turkey)
• and Others

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They are used in LCVs and HCVs. The manufacturing process for the automotive leaf springs involves center hole punching, shearing of flat bar, heating process, and heating treatment. The automobile leaf spring is the most traditional elastic part in the automobile suspension system and has the leverage of good reliability, simple structure, short manufacturing process flow, low cost, and enormously simplified structure.

The growing demand for automobiles globally is pushing the leaf spring market. The leaf springs are mostly applied in light, medium, and heavy-duty commercial vehicles like pick-up trucks and vans. Some passenger car manufacturers depend on the implementation of leaf spring technology for better suspension.

The leaf spring is experiencing a massive demand from both, the OEM market and the after-sales replacement market as they generally need replacement. The growth of the Automotive Leaf Springs market is dependent on the upsurge in the automotive sector. The worldwide automotive sector is rearing rapidly which is pushing the demand for automotive leaf springs.

Automotive Leaf Spring Market Regional Analysis

The Global Automotive Leaf Spring Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

Asia-Pacific is projected to hold the highest market share and substantial growing region during the forecast period owing to the leading highest consumption of commercial vehicles. The availability of labor and other essential resources at a low price in the Asia-Pacific region is awaited to drive the automotive leaf springs market over the forecast period. Japan has a massive number of automotive manufacturers which are estimated to create demand for automotive leaf springs over the forecast period.

 The Western Europe region is anticipated to account for the largest market share in terms of value as many major manufacturers are located in this region.

Latin America and MEA regions perceive a steady growth in the automotive leaf spring market during the forecast period.

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Automotive Leaf Spring Market Segmentation

The Global Automotive Leaf Spring Market is segmented into the following types;

By Spring Type

• Parabolic Leaf Spring
• Multi-Leaf Spring

By Material

• Metal Leaf Springs
• Composite Leaf Springs

By Location Type

• Front Suspension
• Rear Suspension

By Vehicle

• Passenger Vehicles
• Light Commercial Vehicles
• Medium & heavy Commercial Vehicles

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