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Global Suspension Spring Market by Type (Coil Spring, Air Spring, Leaf Spring), By Application (Passenger Car, Commercial Vehicle) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

  • Report ID: AT-10340
  • Author: Up Market Research
  • Rating: 5.0
  • Total Reviews: 58
  • No. Of Pages: 246
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  • Pub. Date: 2021-04-04
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The Global Suspension Spring Market size is projected to grow at a CAGR of 3.5% during the forecast period. The analysis includes a forecast for each type and application segment from 2021 to 2028, with an in-depth view of key trends shaping the industry.



A suspension spring is a device to control the movement of wheeled vehicles. It absorbs shocks, cushions the vehicle, and ensures safety for both passengers as well as drivers. Suspension springs are also known as coil springs, leaf springs, or airbags depending on their construction type. Suspension springs are wire forms that support the weight of a vehicle and allow it to be guided safely. They also absorb the effects of driving conditions such as bumps, potholes, or other road irregularities. A suspension spring has several features: -High tensile strength & high fatigue resistance - they must maintain their shape even under large loads. -Low stiffness — Suspension springs work by deflecting rather than supporting so they need to bend easily in order to stay within car design parameters which means low stiffness is needed. -Constant force throughout its deflection range — this allows for easy movement over rough surfaces without excessive stress on either part.



On the basis of Type, the global suspension spring market is segmented into Coil Spring, Air Spring, and Leaf Spring.



Coil Spring:

Coil spring is the most widely used type of suspension spring, regardless of its size or complexity. They consist of a spiral metal wire. They are very common and can be used for many different types of vehicles to hold them up, such as cars or trucks. When the suspension springs compress to absorb bumps in road conditions they help provide control during cornering and braking. Coil spring is expected to hold the largest market size during the forecast period owing to its increased usage in automobiles for suspension system applications.



Air Spring:

Air Spring is a type of suspension spring, in which gas or air acts as the spring medium. It has a lower density than traditional coil springs and thus provides cushioning effect during a vehicle's ride on uneven roads. Air Springs find applications in all types of vehicles such as cars, trucks, and buses due to its capability to withstand high loads without any increase in weight. It offers a lot of benefits such as it does not require any maintenance and is noise-free, which makes it a perfect replacement for traditional vehicle suspensions. Air spring also ensures that the car occupants get a smooth ride with improved handling capabilities over rough terrains without compromising on comfort levels during normal driving conditions.



Leaf Spring:

A Leaf Spring is an automotive suspension component that transmits the weight of a wheeled vehicle's load (or sometimes its passengers) to springs, shock absorbers, or other components. It consists of one or more curved metal leaves with side pins connecting them at both ends for hinged attachment of the axle and/or wheels. The leaf spring can be replaced by coil springs in many modern vehicles because it carries no internal parts except possibly some rubber pads between adjacent coils; however, there are also torsion bars that replace flat steel bar sections with coiled wire sections instead.



On the basis of Application, the global suspension spring market is segmented into Passenger Car and Commercial Vehicle.



On the basis of Region, the global suspension spring market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is one of the largest markets for automotive components which has driven the global suspension spring industry over the past few years on account of high demand from automakers like Ford, General Motors, and others who are among top companies in this region. The Asia Pacific holds a major share followed by Europe due to a large number of vehicle manufacturers operating here & increased expenditure towards research activities related to new product development. Japan accounts for the highest share as compared to other countries in the APAC region owing to its strong economy where the government initiated many infrastructure projects with a focus on road network expansion, thereby resulting in rapid growth in the automotive sector along with growing disposable income level in this region. Additionally, demand from key players like Toyota and Honda is anticipated to remain healthy over the forecast period which will further bolster the suspension spring market growth in coming years.



Growth Factors For The Global Suspension Spring Market:

The rising demand for high-performance cars and trucks is a major factor driving the growth of the suspension spring market. All new vehicles are being designed to have an improved powertrain which entails better performance, fuel economy & reduced emissions while improving safety features such as ABS (Anti-lock Braking System) and ESP (Electronic Stability Program). In addition, automakers across various countries in different regions including China, India, etc., especially developing nations are focusing on increasing their exports by investing more towards R&D activities thereby making products with superior quality standards. This has led to a rise in demand from these markets thus spurring the overall automotive industry leading to the rapid expansion of this market over the forecast period 2017 - 2028.

Up Market Research published a new report titled “Suspension Spring Market research report which is segmented by Types (Coil Spring, Air Spring, Leaf Spring), By Applications (Passenger Car, Commercial Vehicle), By Players/Companies NHK Spring, Rassini, Sogefi, Mubea, Thyssenkrupp, Continental, Mitsubishi Steel, Fangda Special Steel, Jamna Auto Industries, Chuo Spring, NHK Spring, Fawer, Hendrickson, Vibracoustic, Lesjöfors, Shandong Leopard, KYB, Firestone, Betts Spring, Eibach, Vikrant Auto, Zhejiang Meili, Akar Tools, BJ Spring”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.


Report Scope

Report Attributes Report Details
Report Title Suspension Spring Market Research Report
By Type Coil Spring, Air Spring, Leaf Spring
By Application Passenger Car, Commercial Vehicle
By Companies NHK Spring, Rassini, Sogefi, Mubea, Thyssenkrupp, Continental, Mitsubishi Steel, Fangda Special Steel, Jamna Auto Industries, Chuo Spring, NHK Spring, Fawer, Hendrickson, Vibracoustic, Lesjöfors, Shandong Leopard, KYB, Firestone, Betts Spring, Eibach, Vikrant Auto, Zhejiang Meili, Akar Tools, BJ Spring
Regions Covered North America, Europe, APAC, Latin America, MEA
Base Year 2020
Historical Year 2018 to 2019 (Data from 2010 can be provided as per availability)
Forecast Year 2028
Number of Pages 246
Number of Tables & Figures 173
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.

Global Suspension Spring Industry Outlook

Global Suspension Spring Market Report Segments:

The market is segmented by Type Coil Spring, Air Spring, Leaf Spring and By Application Passenger Car, Commercial Vehicle.


Some of the companies that are profiled in this report are:

  1. NHK Spring
  2. Rassini
  3. Sogefi
  4. Mubea
  5. Thyssenkrupp
  6. Continental
  7. Mitsubishi Steel
  8. Fangda Special Steel
  9. Jamna Auto Industries
  10. Chuo Spring
  11. NHK Spring
  12. Fawer
  13. Hendrickson
  14. Vibracoustic
  15. Lesjöfors
  16. Shandong Leopard
  17. KYB
  18. Firestone
  19. Betts Spring
  20. Eibach
  21. Vikrant Auto
  22. Zhejiang Meili
  23. Akar Tools
  24. BJ Spring

Suspension Spring 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:

  • Industry drivers, restraints, and opportunities covered in the study
  • Neutral perspective on the market performance
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Potential & niche segments and regions exhibiting promising growth covered
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the Suspension Spring Market

Overview of the regional outlook of the Suspension Spring Market:

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.

Suspension Spring Market Overview

Highlights of The Suspension Spring Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of Suspension Spring Market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2028.
  5. Developments and trends in the market.
  6. By Type:

                1. Coil Spring

                2. Air Spring

                3. Leaf Spring

       7. By Application:

                1. Passenger Car

                2. Commercial Vehicle

  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Suspension Spring 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.


How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Suspension Spring Market Statistics

Reasons to Purchase the Suspension Spring Market Report:

  • The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
  • Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
  • Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
  • The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
  • Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Suspension Spring Market Overview
   4.1 Introduction 
      4.1.1 Market Taxonomy 
      4.1.2 Market Definition 
      4.1.3 Macro-Economic Factors Impacting the Market Growth 
   4.2 Suspension Spring Market Dynamics 
      4.2.1 Market Drivers 
      4.2.2 Market Restraints 
      4.2.3 Market Opportunity 
   4.3 Suspension Spring Market - Supply Chain Analysis 
      4.3.1 List of Key Suppliers 
      4.3.2 List of Key Distributors 
      4.3.3 List of Key Consumers 
   4.4 Key Forces Shaping the Suspension Spring Market 
      4.4.1 Bargaining Power of Suppliers 
      4.4.2 Bargaining Power of Buyers 
      4.4.3 Threat of Substitution 
      4.4.4 Threat of New Entrants 
      4.4.5 Competitive Rivalry 
   4.5 Global Suspension Spring Market Size & Forecast, 2018-2028 
      4.5.1 Suspension Spring Market Size and Y-o-Y Growth 
      4.5.2 Suspension Spring Market Absolute $ Opportunity 

Chapter 5 Global Suspension Spring Market Analysis and Forecast by Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by Type
      5.1.2 Basis Point Share (BPS) Analysis by Type
      5.1.3 Absolute $ Opportunity Assessment by Type
   5.2 Suspension Spring Market Size Forecast by Type
      5.2.1 Coil Spring
      5.2.2 Air Spring
      5.2.3 Leaf Spring
   5.3 Market Attractiveness Analysis by Type

Chapter 6 Global Suspension Spring Market Analysis and Forecast by Applications
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Applications
      6.1.2 Basis Point Share (BPS) Analysis by Applications
      6.1.3 Absolute $ Opportunity Assessment by Applications
   6.2 Suspension Spring Market Size Forecast by Applications
      6.2.1 Passenger Car
      6.2.2 Commercial Vehicle
   6.3 Market Attractiveness Analysis by Applications

Chapter 7 Global Suspension Spring Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Suspension Spring Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact 
   8.1 Introduction 
   8.2 Current & Future Impact Analysis 
   8.3 Economic Impact Analysis 
   8.4 Government Policies 
   8.5 Investment Scenario

Chapter 9 North America Suspension Spring Analysis and Forecast
   9.1 Introduction
   9.2 North America Suspension Spring Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Suspension Spring Market Size Forecast by Type
      9.6.1 Coil Spring
      9.6.2 Air Spring
      9.6.3 Leaf Spring
   9.7 Basis Point Share (BPS) Analysis by Type 
   9.8 Absolute $ Opportunity Assessment by Type 
   9.9 Market Attractiveness Analysis by Type
   9.10 North America Suspension Spring Market Size Forecast by Applications
      9.10.1 Passenger Car
      9.10.2 Commercial Vehicle
   9.11 Basis Point Share (BPS) Analysis by Applications 
   9.12 Absolute $ Opportunity Assessment by Applications 
   9.13 Market Attractiveness Analysis by Applications

Chapter 10 Europe Suspension Spring Analysis and Forecast
   10.1 Introduction
   10.2 Europe Suspension Spring Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Suspension Spring Market Size Forecast by Type
      10.6.1 Coil Spring
      10.6.2 Air Spring
      10.6.3 Leaf Spring
   10.7 Basis Point Share (BPS) Analysis by Type 
   10.8 Absolute $ Opportunity Assessment by Type 
   10.9 Market Attractiveness Analysis by Type
   10.10 Europe Suspension Spring Market Size Forecast by Applications
      10.10.1 Passenger Car
      10.10.2 Commercial Vehicle
   10.11 Basis Point Share (BPS) Analysis by Applications 
   10.12 Absolute $ Opportunity Assessment by Applications 
   10.13 Market Attractiveness Analysis by Applications

Chapter 11 Asia Pacific Suspension Spring Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Suspension Spring Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Suspension Spring Market Size Forecast by Type
      11.6.1 Coil Spring
      11.6.2 Air Spring
      11.6.3 Leaf Spring
   11.7 Basis Point Share (BPS) Analysis by Type 
   11.8 Absolute $ Opportunity Assessment by Type 
   11.9 Market Attractiveness Analysis by Type
   11.10 Asia Pacific Suspension Spring Market Size Forecast by Applications
      11.10.1 Passenger Car
      11.10.2 Commercial Vehicle
   11.11 Basis Point Share (BPS) Analysis by Applications 
   11.12 Absolute $ Opportunity Assessment by Applications 
   11.13 Market Attractiveness Analysis by Applications

Chapter 12 Latin America Suspension Spring Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Suspension Spring Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Suspension Spring Market Size Forecast by Type
      12.6.1 Coil Spring
      12.6.2 Air Spring
      12.6.3 Leaf Spring
   12.7 Basis Point Share (BPS) Analysis by Type 
   12.8 Absolute $ Opportunity Assessment by Type 
   12.9 Market Attractiveness Analysis by Type
   12.10 Latin America Suspension Spring Market Size Forecast by Applications
      12.10.1 Passenger Car
      12.10.2 Commercial Vehicle
   12.11 Basis Point Share (BPS) Analysis by Applications 
   12.12 Absolute $ Opportunity Assessment by Applications 
   12.13 Market Attractiveness Analysis by Applications

Chapter 13 Middle East & Africa (MEA) Suspension Spring Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Suspension Spring Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Suspension Spring Market Size Forecast by Type
      13.6.1 Coil Spring
      13.6.2 Air Spring
      13.6.3 Leaf Spring
   13.7 Basis Point Share (BPS) Analysis by Type 
   13.8 Absolute $ Opportunity Assessment by Type 
   13.9 Market Attractiveness Analysis by Type
   13.10 Middle East & Africa (MEA) Suspension Spring Market Size Forecast by Applications
      13.10.1 Passenger Car
      13.10.2 Commercial Vehicle
   13.11 Basis Point Share (BPS) Analysis by Applications 
   13.12 Absolute $ Opportunity Assessment by Applications 
   13.13 Market Attractiveness Analysis by Applications

Chapter 14 Competition Landscape 
   14.1 Suspension Spring Market: Competitive Dashboard
   14.2 Global Suspension Spring Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 NHK Spring
      14.3.2 Rassini
      14.3.3 Sogefi
      14.3.4 Mubea
      14.3.5 Thyssenkrupp
      14.3.6 Continental
      14.3.7 Mitsubishi Steel
      14.3.8 Fangda Special Steel
      14.3.9 Jamna Auto Industries
      14.3.10 Chuo Spring
      14.3.11 NHK Spring
      14.3.12 Fawer
      14.3.13 Hendrickson
      14.3.14 Vibracoustic
      14.3.15 Lesjöfors
      14.3.16 Shandong Leopard
      14.3.17 KYB
      14.3.18 Firestone
      14.3.19 Betts Spring
      14.3.20 Eibach
      14.3.21 Vikrant Auto
      14.3.22 Zhejiang Meili
      14.3.23 Akar Tools
      14.3.24 BJ Spring
Segments Covered in the Report
The global Suspension Spring market has been segmented based on

By Types
  • Coil Spring
  • Air Spring
  • Leaf Spring
By Applications
  • Passenger Car
  • Commercial Vehicle
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • NHK Spring
  • Rassini
  • Sogefi
  • Mubea
  • Thyssenkrupp
  • Continental
  • Mitsubishi Steel
  • Fangda Special Steel
  • Jamna Auto Industries
  • Chuo Spring
  • NHK Spring
  • Fawer
  • Hendrickson
  • Vibracoustic
  • Lesjöfors
  • Shandong Leopard
  • KYB
  • Firestone
  • Betts Spring
  • Eibach
  • Vikrant Auto
  • Zhejiang Meili
  • Akar Tools
  • BJ Spring

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