Global Leaf Spring Market Overview:
With tremendous R&D activities taking place in the automotive industry for the development of lightweight alternatives of heavier steel leaf springs. Leaf spring is a spring comprising leaves and is commonly used for suspension in the wheeled vehicles. It is a semi-elliptical arm which consists 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 spring is one of the oldest suspension components and is still being used in most of the LCVs and MHCVs. The assembly of Leaf Spring has its advantages compared to the coil spring. Leaf Spring assembly has a stronger bearing capacity but a weaker comfort.
- Increasing demand for Large Scale Vehicles (LSVs) and MHCVs (Medium heavy commercial vehicles)
- Technological advancement and R & D investment for lightweight alternatives of heavier steel leaf springs and automotive fleet
- Development in commercial vehicles.
- The composite leaf springs are being developed as a replacement for conventional steel leaf spring which is more lightweight and durable in nature.
- Factors like the economic turmoil, political uncertainty and civil wars in MEA countries may hamper the Leaf spring market.
- The increasing disposable income, economic growth, and growing industrial activity and commercial business resulting in demand for Leaf Spring Market for light, medium and heavy commercial vehicles.
- Manufacturing more good quality, lightweight Leaf Spring product that are efficient, secure and environment-friendly.
The market is highly fragmented by more than 100 Domestic and International players. The Domestic players mainly hail from China as these companies have less technologies and financial ability and they are facing competition from foreign companies. So the domestic companies will have to expand the technology and capital investment and brand influence to remain in the market. Moreover, due to stable automotive OEMS, it is projected that Leaf Spring will be present with few companies in the future.
Some of the key players profiled in the report are Fangda Partners (China), Hendrickson (United States), Donfegn Motor Corp. (China), Jamna Auto Industries (India), Fawer RSA (China), Shuaichao (China), Eaton Detroit Spring (United States), Chongqing Hongqi (China), Hubei Shenfeng (China), NHK Spring Company (Japan), Mitsubishi Steel Ltd. (Japan), Shuangli Banhuang (China), OLGUN CELIK (Turkey), Standens Ltd. (Canada), Owen Springs (Australia), Hayward (United States), Hunan Yitong (China) and Benteler SGL (Austria). Additionally, following companies can also be profiled that are part of our coverage like Shandong Fangcheng (China), Zhengzhou Xinjiaotong (China), Jiangxi Automobile Leaf Spring (China) and Eagle Suspensions (United States). Analyst at AdvanceMarketAnalytics see China Vendors to retain maximum share of Global Leaf Spring market by 2024. Considering Market by End users, the sub-segment i.e. Blacksmiths will boost the Leaf Spring market. Considering Market by Shape, the sub-segment i.e. Arc Shaped will boost the Leaf Spring market.
In March 2017, Henkel partnerships with Benteler SGL pays off with composite Leaf springs on more Volvo using high-speed resin transfer molding technology.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be provided prior to purchase
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Leaf Spring market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Leaf Spring market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Leaf Spring Manufacturers, Automobile Industry, Traders, Distributors and Suppliers and Potential Investors.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.