Transparency Market Research (TMR) provides key insights on the automotive spring market in its latest report titled “Automotive Spring Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.” According to the report, increasing production of passenger vehicles is predicted to drive the automotive spring market during the forecast period.
The report anticipates that the advancements in the suspension unit as the integration of pneumatic system inside coil spring is helpful in dividing the stress from the spring. Advancement in the materials used to manufacture the springs are likely to improve the life of the suspension unit in the vehicle.
The report has segmented the automotive spring market based on vehicle type, type, material used, and region. On the basis of vehicle type, the automotive spring market is classified into passenger vehicles and commercial vehicles. Passenger vehicles include sedans, hatchback cars, sport utility vehicles, and multi-purpose vehicles. Commercial vehicles include lightweight commercial vehicles, heavy commercial vehicles, and buses & coaches.
In terms of type, the automotive spring market is segregated into coil spring, leaf spring, and others. Coil spring are extensively employed in passenger vehicles. Increase in the production of passenger vehicles is anticipated to drive this segment. This, in turn, is projected to propel the automotive spring market during the forecast period.
Based on material, the automotive spring market is split into alloy steel and two other materials. Alloy steel is commonly used to manufacture suspension systems. In terms of regional perspective, the automotive spring market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific accounts for a major share of the global automotive spring market. North America and Europe account for a considerable share of the vehicle industry to their economy.
Major players operating in the global automotive spring market are included in this report to give a better competitive landscape and these are Draco Spring mfg. co., Hendrickson, Rassini, Jamna Auto Industries, Sogefi Group, and EMCO.
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