Automotive Leaf Spring Market Global Business Growth, Demand, Trends, Key Players And Forecasts

A newly compiled business intelligence study by Transparency Market Research (TMR) notifies that the global automotive leaf spring market is prospering, and has project the demand to expand at a notable CAGR of 6.1% during the forecast period of 2017 to 2025. The lead analyst of the report states that while the automotive industry has been consistently touching new peaks in the past couple of decades on the back of increasing disposable income of urban populations, suspension units are essential for load capacity of the vehicles as well as for safety and comfort for passengers. Presently, a moderately consolidated competitive landscape has been detected by the TMR report in the global automotive leaf spring market, wherein a handful of players accounted for a prominent chunk of shares as of 2017. Rassini, Hendrickson USA, L.L.C., Dongfeng Motors, Sogefi SpA, Jamna Auto Industries, Emco Industries, LITEFLEX, NHK Springs Co. Ltd., Mubea, SGL Group, IFC Composite, Frauenthal Group, Olgun Çelik San., Jonas Woodhead & Sons India Ltd., Auto Steels, Kumar Steels, MackSprings, Protopower Springs Pvt. Ltd., Vikrant Auto Suspensions, Akar Tools Limited India have been identified as some of the key companies in this market.

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Global Automotive Leaf Spring Market to be worth US$7,631.1 mn by 2025

If the estimations of the TMR report are to be believed, the opportunities in the global automotive leaf spring market will translate into a revenue of US$7,631.1 mn by the end of 2025, substantially more than the market’s evaluated worth of US$4,767.3 mn in 2017. Going forward, the analysts have anticipated that the players will be concentrating on the development of new products as well as expansion of their capacity by the means of mergers and acquisitions. Based on the type of end, the market has been segmented into double end leaf spring and open end leaf spring. On the basis of shape, the market has been bifurcated into parabolic and elliptical, which is further divided into semi elliptical and transverse. Sales channel segmentation of the market has been done into original equipment manufacturers (OEMs) and aftermarket. Vehicle type classification of the market has been done into passenger vehicle and commercial vehicle. Geographically, Asia Pacific has been highlighted as the most profitable region by a long margin, followed by North America.