Automotive Leaf Spring Market Estimated to Flourish by 2016 - 2026 : Persistence Market Research

Leaf springs were very common in vehicles, in 1970’s in Japan and Europe and late 1970’s in American region, when the front-wheel drive and more sophisticated designs were seen automobile manufacturers use coil springs. Today, leaf springs are utilized in heavy commercial vehicles such as trucks, vans, railway carriages etc. Leaf springs are generally consists of 4-21 leaves including the main leaf or mother plate. Automotive leaf springs are preferred over the coil springs because leaf springs have several advantages such as the load can be widely spread over the chassis of vehicle, eliminating the need of panhard rod and trailing arms, thereby saving the cost and weight of suspension system. In present scenario, conservation of natural resources and economization of energy, and reduction of weight for the vehicle has been the major focus for automobile manufacturers. The reduction of weight can be easily achieved by design optimization and introduction of better material. Automotive leaf spring is one of the most potential component for reducing the weight in automobile. Automotive leaf spring is the most important & useful component of vehicles suspension systems. Automotive leaf spring are generally composed of number of thin strips of metal, called leaves organized on top of each other to form a single curved piece. Automotive leaf spring are available in market in various size depending on the nature and type of vehicle. Automotive leaf spring are utilized in diesel as well as petrol driven vehicles. Basically, there are 2 types of demand for automotive leaf springs i.e. original equipment demand and replacement demand.

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Global Automotive Leaf Spring Market: Segmentation

The global Automotive Leaf Spring market can be segmented on the basis of spring type, material type, vehicle type and spring location

Based on the spring type, global automotive leaf spring market can be segmented into

• Mono Leaf Spring
• Multi Leaf Spring

Based on the material type, global automotive leaf spring market can be segmented into

• Metal leaf springs
• Composite leaf springs

Based on the vehicle type, global automotive leaf spring market can be segmented into

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Based on the location of spring, global automotive leaf spring market can be segmented into

• Front
• Rear

Global Automotive Leaf Spring Market: Dynamics

Rising vehicle production, coupled with growing population primarily in countries like Mexico, China and USA and aftermarket demand from large vehicle fleet segment is the major reason boosting the demand of automotive leaf springs and thus in turn driving the global automotive leaf spring market.

Global Automotive Leaf Spring Market: Region-wise Outlook

Considering regions, Asia-Pacific is expected to share the major share in the global automotive leaf spring market in the near future. Asia-Pacific is followed by Europe, Americas and Japan in the market. APAC is expected to dominate the other regions owing to the rising production of light commercial vehicles, heavy commercial vehicles in developing countries such as India and China.

Reduction of weight and cost of leaf springs in order to reduce the overall weight of the vehicle is one of the major challenge in the global automotive leaf spring market.

The key trend identified in the global automotive leaf spring market include the utilization of composite springs in the manufacturing of vehicles because the composite springs provide fatigue resistance, natural frequency, excellent strength to weight ratio and are five times durable as compared to their steel counterpart.

Global Automotive Leaf Spring Market: Key Players

Examples of some of the market participants in the automotive leaf spring market identified across the value chain include Hendrickson USA, L.L.C., Frauenthal Holding AG, Rassini- NHK Autopecas, Jamna Auto Industries Ltd., Dongfeng Motor Suspension Spring Co., Ltd., Olgun Celik A.S., Sogefi SpA, and others.

Product innovation, mergers & acquisitions and long term original equipment manufacturers contracts are some of the vital strategies adopted by the global manufacturers in order to enhance their position in the market.

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