Market Research Report
Automotive Coil Spring - Global Market Outlook (2019-2027)
|Published by||Stratistics Market Research Consulting||Product code||951449|
|Published||Content info||129 Pages
Delivery time: 2-3 business days
|Automotive Coil Spring - Global Market Outlook (2019-2027)|
|Published: July 1, 2020||Content info: 129 Pages||
According to Stratistics MRC, the Global Automotive Coil Spring Market is accounted for $7.04 billion in 2019 and is expected to reach $12.09 billion by 2027 growing at a CAGR of 7.0% during the forecast period. Some of the key factors propelling the market growth are the rising number of heavyweight trucks, rise in disposable income of people, and increased popularity of helical springs. However, the corrosion associated with the product is the restraining factor for the growth of the market.
An automotive coil spring is a type of spring that is generally used for the suspension purposes in wheeled vehicles. Coil springs absorb shocks and release it after a particular time. It also maintains the force between two contacting surfaces and makes sufficient gap between them. Coil springs find application as torsion springs and they are formed by winding wire on the periphery of the cylinder.
By application, the commercial vehicle segment is expected to grow at a significant market share during the forecast period owing to an increase in penetration of coil springs in commercial vehicles. Based on geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to the high production of vehicles in the region and demand for a higher amount of automotive components.
Some of the key players in Automotive Coil Spring Market include Hendrickson, Clifford Springs Ltd, Soni Auto & Allied Industries Ltd, Kilen Springs, Aniceto Gomez SA, Lesjofors Automotive, Jamna Auto Industries, Betts SPRING MANUFACTURING, Ace Wire Spring & Form Co Inc, Olgun Celik, Suspension Spring Specialist Inc, EMCO, Rassini, Draco Spring Mfg Co, and Sogefi SpA.
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.