Automotive Coil Spring Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

Persistence Market Research has recently released a comprehensive report on the worldwide market for automotive coil springs. The report offers a thorough assessment of crucial market dynamics, including drivers, trends, opportunities, and challenges, providing detailed insights into the market structure. This research publication presents exclusive data and statistics outlining the anticipated growth trajectory of the global automotive coil spring market from 2024 to 2031.

Key Insights:

Automotive Coil Spring Market Size (2024E): US$11.43 Bn
Projected Market Value (2031F): US$15.98 Bn
Global Market Growth Rate (CAGR 2024 to 2031):4.9%

Automotive Coil Spring Market - Report Scope:

Automotive coil springs play a crucial role in vehicle suspension systems, providing support and stability while absorbing shocks from road irregularities. These springs are essential for maintaining vehicle alignment and improving ride comfort. The automotive coil spring market caters to various vehicle types, including passenger cars, commercial vehicles, and electric vehicles, offering a range of spring types such as compression springs, tension springs, and torsion springs.

Market growth is driven by the increasing demand for lightweight materials in vehicle manufacturing, advancements in coil spring design and materials, and the rising production of vehicles globally. The growing trend of electric and hybrid vehicles also contributes to the demand for high-performance coil springs, which are critical for enhancing vehicle efficiency and performance.

Market Growth Drivers:

The global automotive coil spring market is propelled by several key factors, including the increasing production and sales of vehicles worldwide. The shift towards electric vehicles is also driving demand for innovative coil spring designs that enhance performance and reduce overall vehicle weight. Additionally, the growing focus on vehicle safety and performance standards is prompting manufacturers to invest in advanced coil spring technologies that offer better durability and reliability. The expanding aftermarket for automotive components further supports market growth, as consumers seek to enhance their vehicle's performance and handling characteristics.

Market Restraints:

Despite promising growth prospects, the automotive coil spring market faces challenges related to fluctuating raw material prices, which can impact manufacturing costs and profit margins. Additionally, the increasing adoption of alternative suspension technologies, such as air suspension systems, poses a threat to traditional coil spring applications. Manufacturers must navigate regulatory compliance and environmental standards, which can affect operational costs and market entry strategies.

Market Opportunities:

The automotive coil spring market presents significant growth opportunities driven by technological advancements, demographic trends, and evolving automotive designs. Innovations in materials, such as the use of composite and high-strength steel, are enhancing coil spring performance and reducing weight. Furthermore, the rising demand for customized suspension systems in high-performance and luxury vehicles opens new avenues for market players. Strategic partnerships and investments in research and development are essential to capitalize on emerging opportunities and maintain a competitive edge in the automotive coil spring landscape.

Key Questions Answered in the Report:

What are the primary factors driving the growth of the automotive coil spring market globally?
Which vehicle types and applications are driving coil spring adoption across different segments?
How are technological advancements reshaping the competitive landscape of the automotive coil spring market?
Who are the key players contributing to the automotive coil spring market, and what strategies are they employing to maintain market relevance?
What are the emerging trends and future prospects in the global automotive coil spring market?

Competitive Intelligence and Business Strategy:

Leading players in the global automotive coil spring market, including Mubea, Thyssenkrupp, and Lesjofors, focus on innovation, product differentiation, and strategic partnerships to gain a competitive edge. These companies invest in R&D to develop advanced coil spring solutions that cater to diverse automotive needs and performance requirements. Collaborations with automotive manufacturers, suppliers, and technology providers facilitate market access and promote technology adoption. Moreover, an emphasis on sustainability, efficiency, and performance in product development enhances market growth and supports consumer preferences.

Key Companies Profiled:

Mubea
Thyssenkrupp
Lesjofors
Eibach
Tenneco Inc.
EDSCO Manufacturing
ACDelco
Duralast
Spring Manufacturing
H&R Special Springs

Market Segmentation

By Type

Compression Spring
Extension Spring
Torsion Spring

By Vehicle Type

Commercial Vehicle
Passenger Vehicle

By Region

North America
Latin America
Europe
South Asia & Oceania
East Asia
The Middle East & Africa

Product Code: PMRREP34883

1. Executive Summary

1.1. Global Automotive Coil Spring Market Snapshot, 2024-2031
1.2. Market Opportunity Assessment, 2024-2031, US$ Mn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. Industry Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Macro-Economic Factors
- 2.3.1. Global Sectorial Outlook
- 2.3.2. Global GDP Growth Outlook
- 2.3.3. Global Automotive Market Outlook
2.4. COVID-19 Impact Analysis
2.5. Forecast Factors - Relevance and Impact

3. Value Added Insights

3.1. Product Adoption Analysis
3.2. Technology Assessment
3.3. Regulatory Landscape
3.4. Value Chain Analysis
- 3.4.1 List of Raw Material Supplier
- 3.4.2 List of Manufacturers
- 3.4.3 List of Distributors
- 3.4.4 List of End Users
- 3.4.5 Profitability Analysis
3.5. Key Deals and Mergers
3.6. PESTLE Analysis
3.7. Porter's Five Force Analysis
3.8. Geopolitical Tensions: Market Impact

4. Price Trend Analysis, 2019-2031

4.1. Key Highlights
4.2. Key Factors Impacting Product Prices
4.3. Pricing Analysis, By Product
4.4. Regional Prices and Product Preferences

5. Global Automotive Coil Spring Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

5.1. Key Highlights
- 5.1.1. Market Volume (Units) Projections
- 5.1.2. Market Size (US$ Bn) and Y-o-Y Growth
- 5.1.3. Absolute $ Opportunity
5.2. Market Size (US$ Bn) Analysis and Forecast
- 5.2.1. Historical Market Size (US$ Bn) Analysis, 2019-2023
- 5.2.2. Current Market Size (US$ Bn) Analysis and Forecast, 2024-2031
5.3. Global Automotive Coil Spring Market Outlook: Type
- 5.3.1. Introduction / Key Findings
- 5.3.2. Historical Market Size (US$ Bn) Analysis, By Type, 2019-2023
- 5.3.3. Current Market Size (US$ Bn) Forecast, By Type, 2024-2031
  - 5.3.3.1. Compression Spring
  - 5.3.3.2. Extension Spring
  - 5.3.3.3. Torsion Spring
5.4. Market Attractiveness Analysis: Type
5.5. Global Automotive Coil Spring Market Outlook: Vehicle Type
- 5.5.1. Introduction / Key Findings
- 5.5.2. Historical Market Size (US$ Bn) Analysis, By Vehicle Type, 2019-2023
- 5.5.3. Current Market Size (US$ Bn) Analysis and Forecast, By Vehicle Type, 2024-2031
  - 5.5.3.1. Commercial Vehicle
  - 5.5.3.2. Passenger Vehicle
5.6. Market Attractiveness Analysis: Vehicle Type

6. Global Automotive Coil Spring Market Outlook: Region

6.1. Key Highlights
6.2. Historical Market Size (US$ Bn) Analysis, By Region, 2019-2023
6.3. Current Market Size (US$ Bn) Forecast, By Region, 2024-2031
- 6.3.1. North America
- 6.3.2. Europe
- 6.3.3. East Asia
- 6.3.4. South Asia and Oceania
- 6.3.5. Latin America
- 6.3.6. Middle East & Africa
6.4. Market Attractiveness Analysis: Region

7. North America Automotive Coil Spring Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

7.1. Key Highlights
7.2. Pricing Analysis
7.3. Historical Market Size (US$ Bn) Analysis, By Market, 2019-2023
- 7.3.1. By Country
- 7.3.2. By Type
- 7.3.3. By Vehicle Type
7.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024-2031
- 7.4.1. U.S.
- 7.4.2. Canada
7.5. Current Market Size (US$ Bn) Analysis and Forecast, By Type, 2024-2031
- 7.5.1. Compression Spring
- 7.5.2. Extension Spring
- 7.5.3. Torsion Spring
7.6. Current Market Size (US$ Bn) Analysis and Forecast, By Vehicle Type, 2024-2031
- 7.6.1. Commercial Vehicle
- 7.6.2. Passenger Vehicle
7.7. Market Attractiveness Analysis

8. Europe Automotive Coil Spring Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

8.1. Key Highlights
8.2. Pricing Analysis
8.3. Historical Market Size (US$ Bn) Analysis, By Market, 2019-2023
- 8.3.1. By Country
- 8.3.2. By Type
- 8.3.3. By Vehicle Type
8.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024-2031
- 8.4.1. Germany
- 8.4.2. France
- 8.4.3. U.K.
- 8.4.4. Italy
- 8.4.5. Spain
- 8.4.6. Russia
- 8.4.7. Turkey
- 8.4.8. Rest of Europe
8.5. Current Market Size (US$ Bn) Analysis and Forecast, By Type, 2024-2031
- 8.5.1. Compression Spring
- 8.5.2. Extension Spring
- 8.5.3. Torsion Spring
8.6. Current Market Size (US$ Bn) Analysis and Forecast, By Vehicle Type, 2024-2031
- 8.6.1. Commercial Vehicle
- 8.6.2. Passenger Vehicle
8.7. Market Attractiveness Analysis

9. East Asia Automotive Coil Spring Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

9.1. Key Highlights
9.2. Pricing Analysis
9.3. Historical Market Size (US$ Bn) Analysis, By Market, 2019-2023
- 9.3.1. By Country
- 9.3.2. By Type
- 9.3.3. By Vehicle Type
9.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024-2031
- 9.4.1. China
- 9.4.2. Japan
- 9.4.3. South Korea
9.5. Current Market Size (US$ Bn) Analysis and Forecast, By Type, 2024-2031
- 9.5.1. Compression Spring
- 9.5.2. Extension Spring
- 9.5.3. Torsion Spring
9.6. Current Market Size (US$ Bn) Analysis and Forecast, By Vehicle Type, 2024-2031
- 9.6.1. Commercial Vehicle
- 9.6.2. Passenger Vehicle
9.7. Market Attractiveness Analysis

10. South Asia & Oceania Automotive Coil Spring Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

10.1. Key Highlights
10.2. Pricing Analysis
10.3. Historical Market Size (US$ Bn) Analysis, By Market, 2019-2023
- 10.3.1. By Country
- 10.3.2. By Type
- 10.3.3. By Vehicle Type
10.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024-2031
- 10.4.1. India
- 10.4.2. Southeast Asia
- 10.4.3. ANZ
- 10.4.4. Rest of South Asia & Oceania
10.5. Current Market Size (US$ Bn) Analysis and Forecast, By Type, 2024-2031
- 10.5.1. Compression Spring
- 10.5.2. Extension Spring
- 10.5.3. Torsion Spring
10.6. Current Market Size (US$ Bn) Analysis and Forecast, By Vehicle Type, 2024-2031
- 10.6.1. Commercial Vehicle
- 10.6.2. Passenger Vehicle
10.7. Market Attractiveness Analysis

11. Latin America Automotive Coil Spring Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

11.1. Key Highlights
11.2. Pricing Analysis
11.3. Historical Market Size (US$ Bn) Analysis, By Market, 2019-2023
- 11.3.1. By Country
- 11.3.2. By Type
- 11.3.3. By Vehicle Type
11.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024-2031
- 11.4.1. Brazil
- 11.4.2. Mexico
- 11.4.3. Rest of Latin America
11.5. Current Market Size (US$ Bn) Analysis and Forecast, By Type, 2024-2031
- 11.5.1. Compression Spring
- 11.5.2. Extension Spring
- 11.5.3. Torsion Spring
11.6. Current Market Size (US$ Bn) Analysis and Forecast, By Vehicle Type, 2024-2031
- 11.6.1. Commercial Vehicle
- 11.6.2. Passenger Vehicle
11.7. Market Attractiveness Analysis

12. Middle East & Africa Automotive Coil Spring Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

12.1. Key Highlights
12.2. Pricing Analysis
12.3. Historical Market Size (US$ Bn) Analysis, By Market, 2019-2023
- 12.3.1. By Country
- 12.3.2. By Type
- 12.3.3. By Vehicle Type
12.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2024-2031
- 12.4.1. GCC Countries
- 12.4.2. Egypt
- 12.4.3. South Africa
- 12.4.4. Northern Africa
- 12.4.5. Rest of Middle East & Africa
12.5. Current Market Size (US$ Bn) Analysis and Forecast, By Type, 2024-2031
- 12.5.1. Compression Spring
- 12.5.2. Extension Spring
- 12.5.3. Torsion Spring
12.6. Current Market Size (US$ Bn) Analysis and Forecast, By Vehicle Type, 2024-2031
- 12.6.1. Commercial Vehicle
- 12.6.2. Passenger Vehicle
12.7. Market Attractiveness Analysis

13. Competition Landscape

13.1. Market Share Analysis, 2024
13.2. Market Structure
- 13.2.1. Competition Intensity Mapping By Market
- 13.2.2. Competition Dashboard
13.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 13.3.1. Ace Wire Spring & Form Company
  - 13.3.1.1. Overview
  - 13.3.1.2. Segments and Products
  - 13.3.1.3. Key Financials
  - 13.3.1.4. Market Developments
  - 13.3.1.5. Market Strategy
- 13.3.2. Betts Company
- 13.3.3. Clifford Springs
- 13.3.4. Draco Spring Mfg. Co.
- 13.3.5. Hendrickson USA, L.L.C.
- 13.3.6. Jamna Auto Industries Ltd
- 13.3.7. Kilen Springs
- 13.3.8. Emco Electronics
- 13.3.9. Sogefi Group
- 13.3.10. NHK Nasco
- 13.3.11. Mubea

14. Appendix

14.1. Research Methodology
14.2. Research Assumptions
14.3. Acronyms and Abbreviations