DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Automotive Leaf Springs Market by Vehicle Type, by Spring Type, by Material Type, by Manufacturing Process, by Location, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2016-2021" report to their offering.
The global leaf springs market offers a good growth opportunity of CAGR 4.5% during the forecast period of 2016 to 2021 to reach $12.8 billion in 2021.
Global leaf springs market is directly proportional to the production of medium and heavy duty commercial vehicles. Increasing production of light duty vehicles, medium & heavy duty vehicles, and high demand from the growing fleet size are the prime drivers of the leaf springs market during the forecast period.
Steel leaf springs are expected to remain the largest spring type over the next five years; however, composite leaf springs are likely to witness the fastest growth of 9.3% CAGR during the same period. Composite spring offer excellent strength to weight ratio, fatigue resistance and natural frequency, and is about five times more durable than the steel spring. Internal damping in composite materials leads to excellent absorption of vibrations within the parts, resulting in reduced transmission of vibration noise to the neighbouring structures.
Medium & heavy duty vehicle segment is expected to remain the largest market segment for leaf springs during the forecast period. Increasing vehicle production, mainly in Asia-Pacific and aftermarket demand from the large global vehicle fleet are likely to drive the medium & heavy duty vehicle segment.
Asia-Pacific region is expected to remain the largest market for leaf springs due to increasing production of medium & heavy duty vehicles in developing economies, such as China and India.
The supply chain of this market comprises raw material suppliers, leaf spring manufacturers, Automotive OEMs, distributors, and Dealers. The key automotive OEMs are Daimler, Navistar, GM, Ford, Volvo, MAN, Tata Motors, Peterbilt, and Toyota.
The global leaf springs market is a highly consolidated market. The key leaf spring manufacturers are Rassini, Hendrickson, Jamna Auto Industries, Dongfeng Motors, FAW, OlgunCelik, Sogefi and IFC Composite. New product development, capacity expansion and mergers & acquisitions are the key strategies adopted by the key players to gain competitive edge in the market.
Key Topics Covered:
1. Executive Summary
2. Industry Overview
3. Market Environment Analysis
4. Global Automotive Leaf Springs Market - By Vehicle Type
5. Global Automotive Leaf Springs Market Trend and Forecast Analysis - By Spring Type
6. Global Automotive Leaf Springs Market Trend and Forecast Analysis - By Material Type
7. Global Automotive Leaf Spring Market Trend and Forecast Analysis - By Manufacturing Process Type
8. Global Automotive Leaf Spring Market Trend and Forecast Analysis - By Location Type
9. Global Automotive Leaf Spring Market Trend and Forecast Analysis - By Region
10. Competitive Analysis
11. Strategic Growth Opportunities
12. Company Profile of Key Players
For more information about this report visit http://www.researchandmarkets.com/research/lmjfrx/global_automotive
