Automotive Leaf Spring Aftermarket Size to reach US$ 1,998.8 million in 2024

The 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, according to a newly added report by Stratview Research. 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.

The report offers detailed insights in relevant market segments, their growth rates, latest market trends, forecasts, and other important details. The market has been segmented in five ways and the report has more than 150 figures and tables providing the most comprehensive information about the market segments and their growth prospects for the forecast period of 2020-2025.

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As per the report, among different vehicle types, M&HCV is expected to remain the growth engine of the aftermarket during the forecast period owing to a higher penetration of leaf springs in the segment. Also, there is a frequent replacement of leaf springs in M&HCV due to higher loads carried by the vehicle.

Based on the spring type, the market is segmented as parabolic leaf spring and multi-leaf spring. Multi-leaf spring is expected to remain the dominant spring type in the aftermarket during the forecast period, whereas parabolic leaf spring is expected to experience a higher growth during the same period.

Based on the location type, the market is segmented as front suspension and rear suspension. Rear suspension is expected to remain the most dominant segment during the forecast period. High penetration of leaf spring in the rear suspension of LCV, M&HCV, and trailers drives a higher replacement demand for leaf springs. Both front and rear leaf suspension are expected to experience similar growth rates with a marginal difference over the next five years.

View the Table of Contents here https://www.stratviewresearch.com/toc/454/automotive-leaf-spring-aftermarket.html

Asia-Pacific is expected to remain the largest leaf spring aftermarket with an impressive CAGR during the forecast period. An increased vehicle production and growing fleet size would drive the demand for leaf springs in the region over the next five years. China and India are the growth engines of the Asia-Pacific’s aftermarket for leaf springs.

Read the Full Report Description here https://www.stratviewresearch.com/454/automotive-leaf-spring-aftermarket.html

The report further mentions about the key suppliers Hendrickson International, NHK Springs Co., Ltd., Jamna Auto Industries, Rassini, and Dongfeng Motor Suspension Spring Co., Ltd. who are emerging fast and their roles in the growing market. It also portraits the important mergers, acquisitions, and other current happenings in the automotive leaf spring aftermarket that can be helpful for the interested clients in analysing the market and taking right decisions accordingly.

Salient Features of the Report
The report on automotive leaf spring aftermarket is a well-researched work after analysing of various data from different reliable sources. The report included some of the salient features such as:
• Market structure,
• Market environment analysis,
• Market trend and forecast analysis,
• Market segment trend and forecast,
• Competitive landscape and dynamics,
• Attractive market segments and associated growth opportunities,
• Emerging trends,
• Strategic growth opportunities for the existing and new players,
• Key success factors

About Stratview Research:
Stratview Research is a global research company offering custom research and marker research reports for interested client in different sectors such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Healthcare & Life Sciences, and Oil & Gas. All the reports generated are based on proper data collected from reliable sources and are scrutinized carefully before releasing so that the interested clients and companies can make the most out of it.

For inquiries, Contact:
Ritesh Gandecha
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176

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About Stratview Research
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This release was published on openPR.