Spring Market

Springs are being used in automobiles since a very long time because of the vital service in terms of comfort, safety and convenience that they provide. In case of suspension, they enhance the driver’s manoeuvrence over the vehicle as well as provide the comfort. For seat belt and airbags, they help to provide safety to the occupants, whereas in case of powertrain, the valve springs and fuel injector springs help in maintaining valve timing and fuel injection. The importance of springs in the automotive industry can be categorized in three main points. Firstly, the springs improve the performance of the components. The performance of a vehicle depends highly on a properly functioning transmission and to ensure that the springs need to be of high quality. Secondly, high quality springs also allow the vehicle to run efficiently which implies fuel saving. This becomes an important factor especially in the price sensitive economies of the developing and under developed nations. And last but not the least, good quality springs offer durability to the vehicle which is one of the biggest concerns when the vehicle is being purchased.

The suspension system in an automobile as stated above mitigates the shocks when the latter is moving on the surface. Springs are a part of the suspension system and are majorly of three types, leaf springs, coil springs and torsion bars.

Increase in disposable income is one of the factors which has fuelled the demand for passenger vehicles. With changing buyer’s perspective there is an increase in demand for luxury and comfort. Additionally, with increase stringency in safety norms, the demand for safety features has increased. Alternatively, increase in infrastructure investments, and industrialization there is an extensive commercialization. This in turn has also led to a high demand of commercial vehicles. As a collective result of all aforementioned factors, there is an increase in demand for automotive springs in the market.. India, which is projected to become the third largest manufacturer of automotive by 2020, contributes in a big way to this market. Asia-Oceania will be followed by Europe in the market.
This report classifies and defines the automotive spring market size, in terms of volume and value. It provides a comprehensive analysis and insights (both, qualitative and quantitative) into automotive spring market while highlighting the potential growth opportunities in the coming years and reviews the market drivers, restraints, growth indicators, challenges, market dynamics, competitive landscape, and other key aspects with respect to automotive spring products. The report also covers who supplies whom data for all the key market players and the product life cycle for each spring type.

This report segments the automotive spring market

• By Application Type
  • Air bags,
  • Seat belts,
  • Suspension,
  • Fuel injection,
  • Clutch,
  • Valve,
  • Others
• By Type
  • Coil spring,
  • Leaf spring
  • Balance spring,
  • Flat spring,
  • Others
• By Region
  • Asia-Oceania
  • Europe,
  • North America,
  • ROW

The key players in the automotive spring market have also been identified and profiled.

Target Audience

• Automotive spring manufacturers
• Component & raw material suppliers
• Equipment service providers
• Government and research organizations
• Consulting companies of automotive sector