Press release
North America Automotive Composite Leaf Springs Market to Witness Huge Growth by 2028 | Additel, FLEX-FORM, Hendrickson Holding LLC
Automotive Composite Leaf Springs Market
The US, Canada, and Mexico are major economies in North America. The use of composite materials is gaining major traction from the automotive industry, especially for the manufacturing of lightweight components. The increasing focus of vehicle manufacturers toward lightweight vehicles to improve their performance and fuel-efficiency bolsters the adoption of composite material-based products. The benefits of composite leaf springs over the conventional leaf springs are driving their adoption in the automotive industry.
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They are ~70% lighter than steel springs, thinner and compact in size, and durable and stress-resistant; moreover, they facilitate better flexibility in design and exhibit excellent driving qualities. Composite leaf springs also deliver improved shock absorber performance in vehicles, which is driving their adoption among vehicle manufacturers focusing on effective load-balancing solutions. For instance, Hexcel developed advanced composites materials-based leaf springs that help pickup trucks in managing the load effectively. The new composite leaf springs offered by the company are contributing to the reduction of the total vehicle weight of pickup trucks by ~45 pounds per vehicle.
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Major Key players covered in this report:
• Additel
• FLEX-FORM
• Hendrickson Holding LLC
• KraussMaffei
• M.W. Industries, Inc.
• Muhr und Bender KG
• SGL Carbon
• Shandong Beiqi Haihua Automobile Parts Co., Ltd.
NORTH AMERICA AUTOMOTIVE COMPOSITE LEAF SPRINGS MARKET SEGMENTATION
North America Automotive Composite Leaf Springs Market, by Installation Type
• Transversal
• Longitudinal
North America Automotive Composite Leaf Springs Market, by Location Type
• Front Leaf Spring
• Rear Leaf Spring
North America Automotive Composite Leaf Springs Market, by Process Type
• High-Pressure Resin Transfer Molding Process
• Prepreg Layup Process
• Others
North America Automotive Composite Leaf Springs Market, by Vehicle Type
• Passenger Car
• Light Commercial Vehicles
• Medium and Heavy-Duty Vehicles
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An exponential rise in COVID-19 cases forced governments in North American countries to impose lockdown. The shutdown of many manufacturing plants, the slow functioning of municipalities, and the discontinuation of operations in the automotive industry adversely affected the North America automotive composite leaf spring market in 2020. North America accounts for a major share of automotive composite leaf spring sales, and declining sales of automotive components could affect the growth of the automotive composite leaf spring industry players in this region.
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