Automotive Coil Spring - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Automotive Coil Spring Market is accounted for $7.04 billion in 2019 and is expected to reach $12.09 billion by 2027 growing at a CAGR of 7.0% during the forecast period. Some of the key factors propelling the market growth are the rising number of heavyweight trucks, rise in disposable income of people, and increased popularity of helical springs. However, the corrosion associated with the product is the restraining factor for the growth of the market.
An automotive coil spring is a type of spring that is generally used for the suspension purposes in wheeled vehicles. Coil springs absorb shocks and release it after a particular time. It also maintains the force between two contacting surfaces and makes sufficient gap between them. Coil springs find application as torsion springs and they are formed by winding wire on the periphery of the cylinder.
By application, the commercial vehicle segment is expected to grow at a significant market share during the forecast period owing to an increase in penetration of coil springs in commercial vehicles. Based on geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to the high production of vehicles in the region and demand for a higher amount of automotive components.
Some of the key players in Automotive Coil Spring Market include Hendrickson, Clifford Springs Ltd, Soni Auto & Allied Industries Ltd, Kilen Springs, Aniceto Gomez SA, Lesjöfors Automotive, Jamna Auto Industries, Betts SPRING MANUFACTURING, Ace Wire Spring & Form Co Inc, Olgun Celik, Suspension Spring Specialist Inc, EMCO, Rassini, Draco Spring Mfg Co, and Sogefi SpA.
• Progressively Wound Spring
• Helical Coil Spring
Process Methods Covered:
• Cold Cooling
• Hot Cooling
• Below 1 Inch
• 1-2 Inch
• 2-4 Inch
• Above 4 Inch
• Carbon Steel
• Alloy Steel
• Stainless Steel
• Copper Base Alloy
• Nickel Base Alloy
• Variable Rate Springs
• Constant Rate Springs
• Mattress Springs
• Compression Coil Springs
• Volute Springs
• Buckling Springs
• Tension/Extension Coil Springs
• Upholstery Springs
• Torsion Springs
• Passenger Vehicle
• Commercial Vehicle
End Users Covered:
• Original Equipment Manufacturer (OEM)
• North America0
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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