PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1484657
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1484657
Automotive Coil Spring Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)
Key Highlights
The automotive coil spring market was valued at USD 12.4 billion in 2023, and it will rise to USD 17.3 billion, powering at more than 4.5% compound annual growth rate, by 2030.
The development of the vehicle industry is the key factor driving the growth of this market.
The global economy has a key constituent in the automotive industry, which produces as well as sells numerous automobiles every year.
The rising need for coil springs is because of the continuous development and expansion in the automobile sector.
The increasing disposable earnings and living standards in emerging economies are the key factors behind the increasing car sales.
Advancements in technology are also making vehicles more available to many users.
Vehicle manufacturers are trying to meet the surging need by increasing the capacities of manufacturing.
There is a rising use of lightweight materials like aluminum and high-strength steel alloys in producing coil springs.
Greater fuel efficiency as well as lower emissions can be attained by lighter automobiles as they consume less energy.
Automakers are trying to comply with the stringent fuel economy and emission rules and, are, therefore, searching for lightweight strategies in making automobiles and suspension components.
The total performance, vehicle handling, and ride comfort are improved by lightweight coil springs, which also provide greater damping and stiffness features.
Market Insights
APAC accounted for the largest share of the industry in 2023, of 55%. This can be because of the increasing urbanization pace and developing economy, which increase the vehicle ownership rate in this region.
North America will advance at the fastest rate, of 5.5%, during this decade, because of the increasing aftermarket requirement for automotive parts.
Passenger cars was the largest contributor to the industry in 2023, with approximately 50% share. The category is also growing at the fastest CAGR.
This can be because of the development of public transportation & taxi services, rising disposable incomes, swift urbanization, and an increasing middle-class populace.
Compressor springs led the industry in 2023, with approximately 45% share. It is a key part of automobile suspension systems because it assists in absorbing vibrations and shocks and provides greater handling and a smooth ride.
These variants are very adaptable and include in several automotive parts other than suspension systems, such as brakes, seats, engines, and transmissions.
The torsion springs category is expected to propel at a 5.2% compound annual growth rate during this decade.
This will be because of the extensive applications of these alternatives in seat recliners, door, and fuel door mechanisms. With the increasing complexity of vehicle designs their requirement will surge continuously.
Aftermarket led the industry in 2023, with approximately 70% share. This is because of the increasing utilization of coil springs in commercial automobiles.
OEMs will grow at the fastest rate, of 5.1%, during this decade. This is ascribed to the rising automotive production, focus on OEMs on quality and many strategic partnerships.
The industry is wholly dominated by the key companies, who are largely funding in R&D to increase their offerings.
They are employing different strategies, including acquisitions, mergers, partnerships, and collaborations.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by vehicle type
- 1.4.2. Market size breakdown, by spring type
- 1.4.3. Market size breakdown, by market
- 1.4.4. Market size breakdown, by region
- 1.4.5. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Volume
- 1.5.2. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Volume, by Vehicle Type (2017-2030)
- 6.3. Market Revenue, by Vehicle Type (2017-2030)
- 6.4. Market Volume, by Coil Spring Type (2017-2030)
- 6.5. Market Revenue, by Coil Spring Type (2017-2030)
- 6.6. Market Volume, by Market (2017-2030)
- 6.7. Market Revenue, by Market (2017-2030)
- 6.8. Market Volume, by Region (2017-2030)
- 6.9. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Volume, by Vehicle Type (2017-2030)
- 7.3. Market Revenue, by Vehicle Type (2017-2030)
- 7.4. Market Volume, by Coil Spring Type (2017-2030)
- 7.5. Market Revenue, by Coil Spring Type (2017-2030)
- 7.6. Market Volume, by Market (2017-2030)
- 7.7. Market Revenue, by Market (2017-2030)
- 7.8. Market Volume, by Country (2017-2030)
- 7.9. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Volume, by Vehicle Type (2017-2030)
- 8.3. Market Revenue, by Vehicle Type (2017-2030)
- 8.4. Market Volume, by Coil Spring Type (2017-2030)
- 8.5. Market Revenue, by Coil Spring Type (2017-2030)
- 8.6. Market Volume, by Market (2017-2030)
- 8.7. Market Revenue, by Market (2017-2030)
- 8.8. Market Volume, by Country (2017-2030)
- 8.9. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Volume, by Vehicle Type (2017-2030)
- 9.3. Market Revenue, by Vehicle Type (2017-2030)
- 9.4. Market Volume, by Coil Spring Type (2017-2030)
- 9.5. Market Revenue, by Coil Spring Type (2017-2030)
- 9.6. Market Volume, by Market (2017-2030)
- 9.7. Market Revenue, by Market (2017-2030)
- 9.8. Market Volume, by Country (2017-2030)
- 9.9. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Volume, by Vehicle Type (2017-2030)
- 10.3. Market Revenue, by Vehicle Type (2017-2030)
- 10.4. Market Volume, by Coil Spring Type (2017-2030)
- 10.5. Market Revenue, by Coil Spring Type (2017-2030)
- 10.6. Market Volume, by Market (2017-2030)
- 10.7. Market Revenue, by Market (2017-2030)
- 10.8. Market Volume, by Country (2017-2030)
- 10.9. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Volume, by Vehicle Type (2017-2030)
- 11.3. Market Revenue, by Vehicle Type (2017-2030)
- 11.4. Market Volume, by Coil Spring Type (2017-2030)
- 11.5. Market Revenue, by Coil Spring Type (2017-2030)
- 11.6. Market Volume, by Market (2017-2030)
- 11.7. Market Revenue, by Market (2017-2030)
- 11.8. Market Volume, by Country (2017-2030)
- 11.9. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Volume, by Vehicle Type (2017-2030)
- 12.3. Market Revenue, by Vehicle Type (2017-2030)
- 12.4. Market Volume, by Coil Spring Type (2017-2030)
- 12.5. Market Revenue, by Coil Spring Type (2017-2030)
- 12.6. Market Volume, by Market (2017-2030)
- 12.7. Market Revenue, by Market (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Volume, by Vehicle Type (2017-2030)
- 13.3. Market Revenue, by Vehicle Type (2017-2030)
- 13.4. Market Volume, by Coil Spring Type (2017-2030)
- 13.5. Market Revenue, by Coil Spring Type (2017-2030)
- 13.6. Market Volume, by Market (2017-2030)
- 13.7. Market Revenue, by Market (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Volume, by Vehicle Type (2017-2030)
- 14.3. Market Revenue, by Vehicle Type (2017-2030)
- 14.4. Market Volume, by Coil Spring Type (2017-2030)
- 14.5. Market Revenue, by Coil Spring Type (2017-2030)
- 14.6. Market Volume, by Market (2017-2030)
- 14.7. Market Revenue, by Market (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Volume, by Vehicle Type (2017-2030)
- 15.3. Market Revenue, by Vehicle Type (2017-2030)
- 15.4. Market Volume, by Coil Spring Type (2017-2030)
- 15.5. Market Revenue, by Coil Spring Type (2017-2030)
- 15.6. Market Volume, by Market (2017-2030)
- 15.7. Market Revenue, by Market (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Volume, by Vehicle Type (2017-2030)
- 16.3. Market Revenue, by Vehicle Type (2017-2030)
- 16.4. Market Volume, by Coil Spring Type (2017-2030)
- 16.5. Market Revenue, by Coil Spring Type (2017-2030)
- 16.6. Market Volume, by Market (2017-2030)
- 16.7. Market Revenue, by Market (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Volume, by Vehicle Type (2017-2030)
- 17.3. Market Revenue, by Vehicle Type (2017-2030)
- 17.4. Market Volume, by Coil Spring Type (2017-2030)
- 17.5. Market Revenue, by Coil Spring Type (2017-2030)
- 17.6. Market Volume, by Market (2017-2030)
- 17.7. Market Revenue, by Market (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Volume, by Vehicle Type (2017-2030)
- 18.3. Market Revenue, by Vehicle Type (2017-2030)
- 18.4. Market Volume, by Coil Spring Type (2017-2030)
- 18.5. Market Revenue, by Coil Spring Type (2017-2030)
- 18.6. Market Volume, by Market (2017-2030)
- 18.7. Market Revenue, by Market (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Volume, by Vehicle Type (2017-2030)
- 19.3. Market Revenue, by Vehicle Type (2017-2030)
- 19.4. Market Volume, by Coil Spring Type (2017-2030)
- 19.5. Market Revenue, by Coil Spring Type (2017-2030)
- 19.6. Market Volume, by Market (2017-2030)
- 19.7. Market Revenue, by Market (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Volume, by Vehicle Type (2017-2030)
- 20.3. Market Revenue, by Vehicle Type (2017-2030)
- 20.4. Market Volume, by Coil Spring Type (2017-2030)
- 20.5. Market Revenue, by Coil Spring Type (2017-2030)
- 20.6. Market Volume, by Market (2017-2030)
- 20.7. Market Revenue, by Market (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Volume, by Vehicle Type (2017-2030)
- 21.3. Market Revenue, by Vehicle Type (2017-2030)
- 21.4. Market Volume, by Coil Spring Type (2017-2030)
- 21.5. Market Revenue, by Coil Spring Type (2017-2030)
- 21.6. Market Volume, by Market (2017-2030)
- 21.7. Market Revenue, by Market (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Volume, by Vehicle Type (2017-2030)
- 22.3. Market Revenue, by Vehicle Type (2017-2030)
- 22.4. Market Volume, by Coil Spring Type (2017-2030)
- 22.5. Market Revenue, by Coil Spring Type (2017-2030)
- 22.6. Market Volume, by Market (2017-2030)
- 22.7. Market Revenue, by Market (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Volume, by Vehicle Type (2017-2030)
- 23.3. Market Revenue, by Vehicle Type (2017-2030)
- 23.4. Market Volume, by Coil Spring Type (2017-2030)
- 23.5. Market Revenue, by Coil Spring Type (2017-2030)
- 23.6. Market Volume, by Market (2017-2030)
- 23.7. Market Revenue, by Market (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Volume, by Vehicle Type (2017-2030)
- 24.3. Market Revenue, by Vehicle Type (2017-2030)
- 24.4. Market Volume, by Coil Spring Type (2017-2030)
- 24.5. Market Revenue, by Coil Spring Type (2017-2030)
- 24.6. Market Volume, by Market (2017-2030)
- 24.7. Market Revenue, by Market (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Volume, by Vehicle Type (2017-2030)
- 25.3. Market Revenue, by Vehicle Type (2017-2030)
- 25.4. Market Volume, by Coil Spring Type (2017-2030)
- 25.5. Market Revenue, by Coil Spring Type (2017-2030)
- 25.6. Market Volume, by Market (2017-2030)
- 25.7. Market Revenue, by Market (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Volume, by Vehicle Type (2017-2030)
- 26.3. Market Revenue, by Vehicle Type (2017-2030)
- 26.4. Market Volume, by Coil Spring Type (2017-2030)
- 26.5. Market Revenue, by Coil Spring Type (2017-2030)
- 26.6. Market Volume, by Market (2017-2030)
- 26.7. Market Revenue, by Market (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Volume, by Vehicle Type (2017-2030)
- 27.3. Market Revenue, by Vehicle Type (2017-2030)
- 27.4. Market Volume, by Coil Spring Type (2017-2030)
- 27.5. Market Revenue, by Coil Spring Type (2017-2030)
- 27.6. Market Volume, by Market (2017-2030)
- 27.7. Market Revenue, by Market (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Volume, by Vehicle Type (2017-2030)
- 28.3. Market Revenue, by Vehicle Type (2017-2030)
- 28.4. Market Volume, by Coil Spring Type (2017-2030)
- 28.5. Market Revenue, by Coil Spring Type (2017-2030)
- 28.6. Market Volume, by Market (2017-2030)
- 28.7. Market Revenue, by Market (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. Lesjofors Group
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. Kilen Springs
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. GKN Automotive Limited
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. Betts Spring
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. Clifford Springs Ltd.
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. Jamna Auto Industries Limited
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. Sogefi S.p.A.
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. MITSUBISHI STEEL MFG. CO. LTD.
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. Hyperco
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
- 30.10. FUDA Group Limited
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
- 30.11. Muhr und Bender KG
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports
