The Global Leaf Spring Market size is projected to grow from USD 2.00 billion in 2021 to USD X.XX billion by 2028, at a CAGR of 5.7% during the forecast period (2021-2028). The multi-leaf springs segment accounted for more than 40% share of the total market and is expected to continue its dominance over the next decade owing to less complexity and easy installation of these products on different vehicles.
A leaf spring is a simple form of an elastic structure that has the capability to support weight under compression and return into its original shape when unloaded. A leaf spring typically consists of one or more flat metal leaves with U-shaped cross-sections, which are attached in parallel so their ends overlap slightly, held together by rivets through holes near each end of the leaves. Leaf spring is a long, thin structural shape that may be straight or curved. It can handle up to 38,000 pounds for single leaf springs and even more with multi-leaf springs. They are also lightweight compared to other suspension systems discussed in this article, especially if formed from steel alloy which makes them very popular as well.
On the basis of Type, the global leaf spring market is segmented into Multi-leaf Spring, Mono-leaf Spring.
Multi-leaf springs are made of more than one leaf. They can be used to carry heavy loads, for example in truck suspensions or aircraft landing gear. A multi-leaf spring is usually manufactured by welding smaller leaves together into a single unit or it may consist of several different length leaves pinned together with the ends overlapping each other so they act as a single piece. Multi-leaf springs provide better load support than mono-leaves due to their greater number of deflections and consequently have lower stiffness per unit length which increases suspension compliance resulting in improved ride quality while also providing longer life because there is less stress on the individual leaves making them fail far before the rest of the spring would break under similar conditions.
Mono-leaf Spring is a type of leaf spring that consists of one single flat steel plate. In standard suspension, the mono-leaf spring functions as a beam axle and is usually paired with shock absorbers or airbags to provide a comfortable ride for passengers while being capable enough to handle heavy loads at speed on uneven terrain. Mono-leaf springs are used when the load is applied in one direction. For example, when a car goes around corners with its wheels, it applies only vertical force on the spring which will cause compressive stress to be created in that area of the spring. This type of leaf spring is most often used in trucks and buses where loads are usually high but they need suspension components for less weight since these vehicles have engines that allow them to run faster than cars. They also need large tires so this means more road resistance compared to cars. Mono-leaf springs are not used for lighter applications because they can sag or distort under low loading conditions due to their smaller number of leaves relative to multi-leaf springs.
On the basis of Application, the global leaf spring market is segmented into Bus, Truck & Other.
On the basis of Region, the global leaf spring market is segmented into North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. In 2018, North America held a major share in the global leaf spring market due to government regulations for commercial vehicles such as trucks being stringent under this region. The Leaf Spring Market in Latin America is driven by increasing demand for small vehicles, which are characterized by improved engine power to cater the high-speed driving needs. The growth of the leaf spring market in this region can also be attributed to its growing automotive steel industry that has been giving rise to the two-wheeler segment.
The Asia Pacific is expected to have a high growth rate during the forecast period from 2019 to 2028 owing to the increased demand for buses used by public transport companies across several countries including India and China which will drive up sales of bus springs in this region significantly. Furthermore, the growing population along with increasing disposable income levels has also led to an increase in the sale of cars throughout these regions that will ultimately boost usage rates of car leaf spring systems further driving up industry revenue over the next few years. Leaf spring is a rigid automotive component that provides support and limits vibration. The Middle East & Africa markets are highly developed, with well-developed road infrastructure in the region and high disposable income per capita driving vehicle sales in the countries of this region.
- Growing demand from the industrial sector.
- Increasing number of private and public transportations systems & increasing vehicle production, owing to which leaf spring market is likely to grow in a rapid rate in near future.
- Rising demand for high comfort levels.
- Increasing vehicle production in developing countries.
- Rising demand from the agricultural sector.
Up Market Research published a new report titled “Leaf Spring Sales Market research report which is segmented by Types (Multi-leaf Spring, Mono-leaf Spring), By Applications (Bus, Truck, Other), By Players/Companies Fangda, Hendrickson, Dongfegn, Jamna Auto Industries, Fawer, RSA, Shuaichao, Eaton Detroit Spring, Chongqing Hongqi, Hubei Shenfeng, NHK Spring, Leopord, Mitsubishi Steel, Shuangli Banhuang, OLGUN CELIK, Standens, Owen Springs, Hayward, Hunan Yitong, Sogefi, Anhui Anhuang, Shandong Fangcheng, Zhengzhou Xinjiaotong, Jiangxi Automobile Leaf Spring, Eagle Suspensions”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Leaf Spring Sales Market Research Report|
|By Type||Multi-leaf Spring, Mono-leaf Spring|
|By Application||Bus, Truck, Other|
|By Companies||Fangda, Hendrickson, Dongfegn, Jamna Auto Industries, Fawer, RSA, Shuaichao, Eaton Detroit Spring, Chongqing Hongqi, Hubei Shenfeng, NHK Spring, Leopord, Mitsubishi Steel, Shuangli Banhuang, OLGUN CELIK, Standens, Owen Springs, Hayward, Hunan Yitong, Sogefi, Anhui Anhuang, Shandong Fangcheng, Zhengzhou Xinjiaotong, Jiangxi Automobile Leaf Spring, Eagle Suspensions|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||238|
|Number of Tables & Figures||167|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Multi-leaf Spring, Mono-leaf Spring and By Application Bus, Truck, Other.
Some of the companies that are profiled in this report are:
Leaf Spring Sales Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Leaf Spring Sales Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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