 Automotive Leaf Spring Market Insights = A leaf spring is a spring

comprising leaves and is commonly used for suspension in the wheeled vehicles . It
is a semi - elliptical arm consisting of one or more leaves which are strips of steel or
other materials that are meant to flex under pressure yet maintain their original shape
when not under pressure . Leaf springs are one of the oldest suspension components
and are still being used in most of the LCVs and MHCVs. There is another type of
spring called coil spring , which has a widespread usage in passenger cars . Over a
period of time , the automotive industry has witnessed a remarkable transition in the
leaf spring technology , material , style , design , etc. There are countless styles of
leaf - spring suspension available worldwide featuring different mounting points ,
shapes , and sizes . At the same time , there are a lot of R & D activities happening
for the development of lightweight alternatives of heavier leaf springs . Composite
leaf spring the outcome of these activities , offers HIVUITTY pults , Sarapes , Arlo
SIZES . AL UITE same time, there are a lot of R&D activities happening for the
development of lightweight alternatives of heavier steel leaf springs. Composite leaf
springs are the outcome of these activities , offering significant weight saving
advantage over steel springs without sacrificing performance .
The next five years for the leaf spring market in the automotive industry seems
attractive with significant growth opportunities in both , OE as well as aftermarket
segments . The market for automotive leaf springs is set to reach an estimated
value of US $ 5.8 billion in 2024 , witnessing a healthy growth in the coming
years . Several factors are bolstering the demand for leaf springs among which ,
rising production of LCVs and MHCVS is the biggest growth driver. Other
noticeable driving factors are advancements in the leaf spring technology, such as
parabolic leaf springs; greater demand for lightweight springs , especially composite
leaf springs ; and rising automotive feet
The major leaf spring manufacturers are strategically focusing on the development of
advanced leaf springs in order to retain the leading position in this fiercely
competitive market. For instance ; metal leaf spring manufacturers are advancing
their product portfolio by introducing parabolic springs , whereas composite leaf
spring manufacturers are trying to develop composite leaf springs for heavy - duty
commercial vehicles . Weight reduction is one of the mega trends in the automotive
industry . It can be achieved primarily through the introduction of better materials ,
design optimization , and better manufacturing processes . Selection of any material
for an application is based on the relative cost as well as the strength of the material.
There are several advanced materials available with light - weighting advantage .
Composite materials are one of them with elastic strain energy , better fatigue
resistance , and higher strength - to - weight ratio compared to steel . It provides
significant weight reduction with ado improvement in the mechanical prop and is one
of the best replaced

 Automotive Leaf Spring Market Share by Material Type. =Based on
the material type , the market is segmented into steel springs and composite leaf
springs . Steel leaf spring is expected to remain the larger spring type in the next five
years ; however, the composite spring is likely to witness the higher grow for the
same period. Composite spa offer excellent strength - to - weight fatigue resistance ,
 and natural in the next five years ; however, the composite spring is likely to witness
the higher growth for the same period. Composite springs offer excellent strength - to
- weight ratio , fatigue resistance , and natural frequency and are about five times
more durable than a steel spring . Internal damping in the composite materials leads
to excellent absorption of vibration energy within the parts, resulting in, a reduce
transmission of vibration noise to the neighboring structures.

 Automotive Leaf Spring Market Share by Vehicle Type = Based on the
vehicle type , the market is segmented into passenger car , LCV , MHCV , and
others . MHCV dominates the market in terms of value and is likely to maintain its
dominance in the coming five years as well. Large production base of MHCVS
coupled with high penetration of leaf springs in MHCVs and large MHCV fleet are
the key whys and wherefores behind the dominance of MHCVs in the market.

 Regional Insights = In terms of region , Asia - Pacific expected to remain the
largest market for leaf springs in the foreseen future , because of increasing
production of MHCVs in the developing Asian economies , such as China and India .
China , Japan , and South Korea are likely to remain the major markets in the region ;
however, India is likely to be the new growth engine of the region's market in the
coming five years. Several automakers are eyeing on the Indian market and have
huge plans to open manufacturing plants in the country in order to leverage the
benefits offered by the government under several manufacturing boost initiatives,
such as Make in India. Europe and North America , other major markets , are also
likely to have a positive outlook in the coming five years . The USA and Mexico are
likely to be the major markets in North America , whereas Russia , Germany , and
France are the major markets in Europe.

 Key Players =The supply chain of this market comprises raw material suppliers ,
leaf spring manufacturers , distributors , Automotive OEMs , and Dealers . The key
automotive OEMs are Daimler , Navistar , GM , Volvo , MAN , Tata Motors , Preterit
, and Toyota . The automotive leaf spring market is highly fragmented with the
presence of more than 100 global and regional players catering to different
requirements of the industry . It is found that a handful of metal leaf spring
manufacturers have the capability to manufacture composite leaf springs . The key
leaf spring manufacturers are Rossini , Hendrickson , Jamna Auto Industries ,
Dongfeng Motors , and IFC Composite . New product development , capacity
expansion , formation of strategic alliances are the key strategies adopted by the key
players to gain a competitive edge in the market.

 Research Methodology. = For calculating the market size , our analysts follow
either Top - Bottom or Bottom - Top approach or both , depending upon the
complexity or availability of the data points . Our reports offer high - quality insights
and are the outcome of detailed research methodology comprising extensive
secondary research , rigorous primary interviews with industry stakeholders and
validation and triangulation with Strat view Research 's internal database and
statistical tools . We leverage multitude of authenticated secondary sources, such as
company annual reports, government sources, trade associations, journals, investor
presentation, white papers, and articles to gather the data. More than 10 detailed
primary interviews with the market players across the value chain in all four regions
and industry experts are usually executed to obtain both qualitative and quantitative
insights.