Automotive Clock Spring Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024

Description

Market Overview

In 2024, the size of the worldwide automotive clock spring industry size is projected to have stood at USD 3,953.3 million, and it is forecasted to attain USD 5,428.3 million by the end of 2030, growing at a CAGR of 5.4% during the projection period. The surge in the acceptance of steering-mounted controls in all variants of cars fuels the development of the industry.

Steering control also allows the driver to manage various other features of the car, including control audio, windows, and hands-free call, among others from the steering. This way, a driver does not get distracted while driving, thus reducing cases of accidents and making the roads safer. Luxury automobiles that have cruise control have the control buttons on the steering.

Furthermore, there is controls for managing the seat and its position on the steering in many four-wheelers. Currently, more electronic sensors than before are mounted on the steering in a bid to improve the feel of the car during driving. Therefore, with the electronification of the internal components of car, the market for automotive clock springs is popular.

Some of the key trends being observed in the market include increased use of higher durability and lower cost materials for the production of clock springs. Superalloys are also employed; clock springs made from these superalloys have an average service life of 10-15 years. High-conducting, durable and elastic materials are commonly used in the industries for the production of clock springs.

Key Insights

In 2024, the passenger category holds a 70% industry share.

Growth due to post-COVID-19 recovery, technological innovations, and increased purchasing power.

Introduction of ultra-luxury features like cruise control and ADAS propels production and sales.

Passenger vehicles expected to grow at a CAGR of 7.7% during 2024-2030.

Shift towards e-vehicles increases demand for automotive clock springs among OEMs.

Carbon steel is the largest category, with a 45% share in 2024.

Chosen for good mechanical strength and easy availability.

Stainless steel is the fastest-growing category, with a CAGR of 5.8% during 2024-2030.

Preferred for durability, longevity, low cost, mechanical strength, and surface stability.

Superalloys, significant in 2024, will lose prominence due to high costs and fluctuating element prices.

Emphasis on sustainability will drive the use of lightweight composites and recycled materials for clock springs.

OEMs hold a 65% market share in 2024.

Also, the faster-growing category, with a CAGR of 5.5% during 2024-2030.

Clock springs are crucial for electrical connections and safety features like airbags.

Typically have a lifespan of 10-15 years, leading to rare replacement needs.

Asia-Pacific is the largest regional market, with a 50% share in 2024.

Driven by strict passenger safety regulations and NCAP safety ratings mandating airbags.

Fastest-growing regional market, with a CAGR of 5.7% during 2024-2030.

Growth in automobile production due to low labor costs and economic development.

Increased purchasing power boosts car demand and, consequently, clock spring demand.

Europe, particularly Germany, is noted for producing high-end premium luxury cars.

Market growth post-COVID-19 driven by return to normalcy in work, social gatherings, and public operations.

In October 2020, Autoliv Inc. launched an updated automotive clock spring design for improved resistance and durability.

Product Code: 12987

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 material
- 1.4.3. Market size breakdown, by sales channel
- 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 (2019-2030)
6.3. Market Revenue, by Vehicle Type (2019-2030)
6.4. Market Volume, by Material (2019-2030)
6.5. Market Revenue, by Material (2019-2030)
6.6. Market Volume, by Sales Channel (2019-2030)
6.7. Market Revenue, by Sales Channel (2019-2030)
6.8. Market Volume, by Region (2019-2030)
6.9. Market Revenue, by Region (2019-2030)

Chapter 7. North America Market

7.1. Overview
7.2. Market Volume, by Vehicle Type (2019-2030)
7.3. Market Revenue, by Vehicle Type (2019-2030)
7.4. Market Volume, by Material (2019-2030)
7.5. Market Revenue, by Material (2019-2030)
7.6. Market Volume, by Sales Channel (2019-2030)
7.7. Market Revenue, by Sales Channel (2019-2030)
7.8. Market Volume, by Country (2019-2030)
7.9. Market Revenue, by Country (2019-2030)

Chapter 8. Europe Market

8.1. Overview
8.2. Market Volume, by Vehicle Type (2019-2030)
8.3. Market Revenue, by Vehicle Type (2019-2030)
8.4. Market Volume, by Material (2019-2030)
8.5. Market Revenue, by Material (2019-2030)
8.6. Market Volume, by Sales Channel (2019-2030)
8.7. Market Revenue, by Sales Channel (2019-2030)
8.8. Market Volume, by Country (2019-2030)
8.9. Market Revenue, by Country (2019-2030)

Chapter 9. APAC Market

9.1. Overview
9.2. Market Volume, by Vehicle Type (2019-2030)
9.3. Market Revenue, by Vehicle Type (2019-2030)
9.4. Market Volume, by Material (2019-2030)
9.5. Market Revenue, by Material (2019-2030)
9.6. Market Volume, by Sales Channel (2019-2030)
9.7. Market Revenue, by Sales Channel (2019-2030)
9.8. Market Volume, by Country (2019-2030)
9.9. Market Revenue, by Country (2019-2030)

Chapter 10. LATAM Market

10.1. Overview
10.2. Market Volume, by Vehicle Type (2019-2030)
10.3. Market Revenue, by Vehicle Type (2019-2030)
10.4. Market Volume, by Material (2019-2030)
10.5. Market Revenue, by Material (2019-2030)
10.6. Market Volume, by Sales Channel (2019-2030)
10.7. Market Revenue, by Sales Channel (2019-2030)
10.8. Market Volume, by Country (2019-2030)
10.9. Market Revenue, by Country (2019-2030)

Chapter 11. MEA Market

11.1. Overview
11.2. Market Volume, by Vehicle Type (2019-2030)
11.3. Market Revenue, by Vehicle Type (2019-2030)
11.4. Market Volume, by Material (2019-2030)
11.5. Market Revenue, by Material (2019-2030)
11.6. Market Volume, by Sales Channel (2019-2030)
11.7. Market Revenue, by Sales Channel (2019-2030)
11.8. Market Volume, by Country (2019-2030)
11.9. Market Revenue, by Country (2019-2030)

Chapter 12. U.S. Market

12.1. Overview
12.2. Market Volume, by Vehicle Type (2019-2030)
12.3. Market Revenue, by Vehicle Type (2019-2030)
12.4. Market Volume, by Material (2019-2030)
12.5. Market Revenue, by Material (2019-2030)
12.6. Market Volume, by Sales Channel (2019-2030)
12.7. Market Revenue, by Sales Channel (2019-2030)

Chapter 13. Canada Market

13.1. Overview
13.2. Market Volume, by Vehicle Type (2019-2030)
13.3. Market Revenue, by Vehicle Type (2019-2030)
13.4. Market Volume, by Material (2019-2030)
13.5. Market Revenue, by Material (2019-2030)
13.6. Market Volume, by Sales Channel (2019-2030)
13.7. Market Revenue, by Sales Channel (2019-2030)

Chapter 14. Germany Market

14.1. Overview
14.2. Market Volume, by Vehicle Type (2019-2030)
14.3. Market Revenue, by Vehicle Type (2019-2030)
14.4. Market Volume, by Material (2019-2030)
14.5. Market Revenue, by Material (2019-2030)
14.6. Market Volume, by Sales Channel (2019-2030)
14.7. Market Revenue, by Sales Channel (2019-2030)

Chapter 15. France Market

15.1. Overview
15.2. Market Volume, by Vehicle Type (2019-2030)
15.3. Market Revenue, by Vehicle Type (2019-2030)
15.4. Market Volume, by Material (2019-2030)
15.5. Market Revenue, by Material (2019-2030)
15.6. Market Volume, by Sales Channel (2019-2030)
15.7. Market Revenue, by Sales Channel (2019-2030)

Chapter 16. U.K. Market

16.1. Overview
16.2. Market Volume, by Vehicle Type (2019-2030)
16.3. Market Revenue, by Vehicle Type (2019-2030)
16.4. Market Volume, by Material (2019-2030)
16.5. Market Revenue, by Material (2019-2030)
16.6. Market Volume, by Sales Channel (2019-2030)
16.7. Market Revenue, by Sales Channel (2019-2030)

Chapter 17. Italy Market

17.1. Overview
17.2. Market Volume, by Vehicle Type (2019-2030)
17.3. Market Revenue, by Vehicle Type (2019-2030)
17.4. Market Volume, by Material (2019-2030)
17.5. Market Revenue, by Material (2019-2030)
17.6. Market Volume, by Sales Channel (2019-2030)
17.7. Market Revenue, by Sales Channel (2019-2030)

Chapter 18. Spain Market

18.1. Overview
18.2. Market Volume, by Vehicle Type (2019-2030)
18.3. Market Revenue, by Vehicle Type (2019-2030)
18.4. Market Volume, by Material (2019-2030)
18.5. Market Revenue, by Material (2019-2030)
18.6. Market Volume, by Sales Channel (2019-2030)
18.7. Market Revenue, by Sales Channel (2019-2030)

Chapter 19. Japan Market

19.1. Overview
19.2. Market Volume, by Vehicle Type (2019-2030)
19.3. Market Revenue, by Vehicle Type (2019-2030)
19.4. Market Volume, by Material (2019-2030)
19.5. Market Revenue, by Material (2019-2030)
19.6. Market Volume, by Sales Channel (2019-2030)
19.7. Market Revenue, by Sales Channel (2019-2030)

Chapter 20. China Market

20.1. Overview
20.2. Market Volume, by Vehicle Type (2019-2030)
20.3. Market Revenue, by Vehicle Type (2019-2030)
20.4. Market Volume, by Material (2019-2030)
20.5. Market Revenue, by Material (2019-2030)
20.6. Market Volume, by Sales Channel (2019-2030)
20.7. Market Revenue, by Sales Channel (2019-2030)

Chapter 21. India Market

21.1. Overview
21.2. Market Volume, by Vehicle Type (2019-2030)
21.3. Market Revenue, by Vehicle Type (2019-2030)
21.4. Market Volume, by Material (2019-2030)
21.5. Market Revenue, by Material (2019-2030)
21.6. Market Volume, by Sales Channel (2019-2030)
21.7. Market Revenue, by Sales Channel (2019-2030)

Chapter 22. Australia Market

22.1. Overview
22.2. Market Volume, by Vehicle Type (2019-2030)
22.3. Market Revenue, by Vehicle Type (2019-2030)
22.4. Market Volume, by Material (2019-2030)
22.5. Market Revenue, by Material (2019-2030)
22.6. Market Volume, by Sales Channel (2019-2030)
22.7. Market Revenue, by Sales Channel (2019-2030)

Chapter 23. South Korea Market

23.1. Overview
23.2. Market Volume, by Vehicle Type (2019-2030)
23.3. Market Revenue, by Vehicle Type (2019-2030)
23.4. Market Volume, by Material (2019-2030)
23.5. Market Revenue, by Material (2019-2030)
23.6. Market Volume, by Sales Channel (2019-2030)
23.7. Market Revenue, by Sales Channel (2019-2030)

Chapter 24. Brazil Market

24.1. Overview
24.2. Market Volume, by Vehicle Type (2019-2030)
24.3. Market Revenue, by Vehicle Type (2019-2030)
24.4. Market Volume, by Material (2019-2030)
24.5. Market Revenue, by Material (2019-2030)
24.6. Market Volume, by Sales Channel (2019-2030)
24.7. Market Revenue, by Sales Channel (2019-2030)

Chapter 25. Mexico Market

25.1. Overview
25.2. Market Volume, by Vehicle Type (2019-2030)
25.3. Market Revenue, by Vehicle Type (2019-2030)
25.4. Market Volume, by Material (2019-2030)
25.5. Market Revenue, by Material (2019-2030)
25.6. Market Volume, by Sales Channel (2019-2030)
25.7. Market Revenue, by Sales Channel (2019-2030)

Chapter 26. Saudi Arabia Market

26.1. Overview
26.2. Market Volume, by Vehicle Type (2019-2030)
26.3. Market Revenue, by Vehicle Type (2019-2030)
26.4. Market Volume, by Material (2019-2030)
26.5. Market Revenue, by Material (2019-2030)
26.6. Market Volume, by Sales Channel (2019-2030)
26.7. Market Revenue, by Sales Channel (2019-2030)

Chapter 27. South Africa Market

27.1. Overview
27.2. Market Volume, by Vehicle Type (2019-2030)
27.3. Market Revenue, by Vehicle Type (2019-2030)
27.4. Market Volume, by Material (2019-2030)
27.5. Market Revenue, by Material (2019-2030)
27.6. Market Volume, by Sales Channel (2019-2030)
27.7. Market Revenue, by Sales Channel (2019-2030)

Chapter 28. U.A.E. Market

28.1. Overview
28.2. Market Volume, by Vehicle Type (2019-2030)
28.3. Market Revenue, by Vehicle Type (2019-2030)
28.4. Market Volume, by Material (2019-2030)
28.5. Market Revenue, by Material (2019-2030)
28.6. Market Volume, by Sales Channel (2019-2030)
28.7. Market Revenue, by Sales Channel (2019-2030)

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. ZF Friedrichshafen AG
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
30.2. Robert Bosch GmbH
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
30.3. Guangzhou Angotan Auto Parts Co. Ltd.
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
30.4. Spring Works Utah Inc.
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
30.5. Draco Spring Mfg. Co.
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
30.6. MHC Linkway Auto Parts Limited
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
30.7. Jinzhou Jinheng Automotive Safety System Co.
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
30.8. Nardrun Electronic Technology Co. Ltd.
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
30.9. Guangzhou Reebang Auto Parts Co., Ltd.
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
30.10. Mitsubishi Steel MFG. Co. Ltd
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
30.11. GKN Automotive Limited
- 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

Automotive Clock Spring Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)