Spring Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032
- Report ID: ME_00113114
- Format: Electronic (PDF)
- Publish Type: Publish
- Number of Pages: 250
Market Snapshot
Source: Market Expertz
| Study Period | 2019-2032 |
| Base Year | 2023 |
| Forcast Year | 2023-2032 |
| CAGR | 6.35 |
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Spring Market Analysis Report 2023-2032
The Spring Market is anticipated to experience a Compound Annual Growth Rate (CAGR) of 6.54% between 2022 and 2032. Over this period, the market size is expected to witness a substantial increase of USD 4.2 billion. The growth of this market is attributed to various factors, including seasonal demand, technological advancements in spring manufacturing, and the increasing need for reliable spring components in various industries. The market consists of a wide range of springs, ensuring the proper functioning of various mechanical systems.
Spring Market Overview
Drivers
One of the primary drivers behind the expansion of the Spring Market is the seasonal demand for springs in various applications. Springs are essential components in numerous products and systems, and their demand fluctuates with seasons, particularly in industries like automotive and agriculture, where spring-dependent machinery experiences increased use during specific times of the year.
Additionally, technological advancements in spring manufacturing are playing a significant role in market growth. Innovations in materials, design, and production processes are improving the performance and durability of springs, leading to their increased adoption across industries.
Trends
A notable trend shaping the Spring Market is the increasing adoption of smart and composite materials in spring production. These materials enhance the performance characteristics of springs, providing better resistance to corrosion, fatigue, and high-temperature conditions. Smart springs, integrated with sensors and IoT technology, offer real-time monitoring and data collection capabilities.
Moreover, sustainability and recycling practices are influencing the market dynamics. The focus on eco-friendly materials and production processes aligns with the global push for environmental responsibility, leading to the development of greener spring manufacturing methods.
Restraints
One of the restraints affecting the Spring Market is the fluctuating prices of raw materials, particularly metals like steel and copper, which are commonly used in spring production. These price fluctuations can affect the cost of manufacturing and, in turn, the pricing of spring components.
Another restraint is the competition from alternative technologies, such as elastomers and plastics, which can replace springs in certain applications. Manufacturers of spring components need to adapt to evolving materials and technologies to remain competitive in the market.
Spring Market Segmentation By Type
The coil spring segment is expected to be a prominent growth sector within the Spring Market. Coil springs are widely used in various applications, including automotive suspensions, industrial machinery, and furniture.
Torsion springs also constitute a significant segment. They are essential in applications where rotational force is required, such as in garage doors and clothespins.
Spring Market Segmentation By End-Use Industry
The automotive industry is a key application segment for springs, with applications ranging from suspension systems to clutch mechanisms. The demand for lightweight, durable springs in the automotive sector is driving market growth.
The industrial machinery sector also relies on springs for various applications, including conveyor systems, valve controls, and more. As industries invest in automation and machinery, the demand for reliable spring components is increasing.
Regional Overview:
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Request pdf SampleNorth America is anticipated to be a key driver of global Spring Market growth. The region has a strong manufacturing base and investments in sectors like automotive, which drive the demand for springs.
Europe is another significant market for springs, with a robust industrial and automotive sector. European manufacturers often focus on precision and high-performance spring components.
The Asia-Pacific region is experiencing substantial growth in the Spring Market. Rapid industrialization and increasing agricultural activities are contributing to the demand for springs in the region.
Spring Market Customer Landscape
The Spring Market report offers insights into customer buying patterns, ranging from automotive and industrial manufacturers to suppliers and distributors. The report examines purchase patterns across different regions, highlighting areas with a high concentration of spring manufacturing and consumption.
Major Spring Market Companies
Prominent players in the Spring Market are continuously innovating to remain competitive. These strategies include introducing advanced materials, enhancing production processes, and expanding product portfolios to cater to evolving industry needs.
Sample list of major companies in the market:
- MW Industries, Inc.
- Associated Spring Raymond
- NHK Spring Co., Ltd.
- Sogefi Group
- Peterson Spring
Qualitative and quantitative analyses of these companies offer valuable insights into the competitive landscape, enabling stakeholders to understand market dynamics and assess the strengths and weaknesses of key players. Categorizing companies based on their market focus and influence provides a comprehensive view of the competitive environment.
Segment Overview
The Spring Market report provides revenue forecasts on a global, regional, and country level. The report also includes an analysis of emerging trends and growth opportunities spanning from 2019 to 2032.
- Type Outlook (USD Billion, 2019 - 2032)
- Coil Springs
- Torsion Springs
- Compression Springs
- Extension Springs
- Others
- End-Use Industry Outlook (USD Billion, 2019 - 2032)
- Automotive
- Industrial Machinery
- Aerospace
- Agriculture
- Others
- Geography Outlook (USD Billion, 2019 - 2032)
- North America
- United States
- Canada
- Europe
- United Kingdom
- Germany
- France
- Rest of Europe
- APAC
- China
- India
- Japan
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- United Arab Emirates
- South Africa
- Rest of Middle East & Africa
Table of Content
Chapter 1 About the Spring Industry 1
1.1 Industry Definition 1
1.1.1 Types of Spring industry 1
1.2 Main Market Activities 4
1.2 Similar Industries 6
1.4 Industry at a Glance 7
Chapter 2 World Market Competition Lanscape 8
2.1 Spring Markets by regions 8
2.1.1 North America 8
Market Revenue and Growth Rate 8
Major Players Revenue in 2020 9
2.1.2 Europe 10
Market Revenue and Growth Rate 10
Major Players Revenue in 2020 11
2.1.3 Japan 12
Market Revenue and Growth Rate 12
Major Players Revenue in 2020 13
2.1.4 India 14
Market Revenue and Growth Rate 14
2.1.5 China 15
Market Revenue and Growth Rate 15
2.1.6 Rest of Asia (China, India, Korea and others) 16
Major Players Revenue in 2020 16
2.2 World Spring Market by types 18
Suspension Coil Springs 18
Transmission Disc Springs 18
Valve Springs 18
Fiber Composite Springs 18
Others 18
2.3 World Spring Market by Applications 19
Automotive 19
Manufacturing Equipment 19
Others 19
2.4 World Spring Market Analysis 20
2.4.1 World Spring Market Revenue and Growth Rate 2015-2020 20
2.4.2 World Spring Market Consumption and Growth rate 2015-2020 21
2.4.3 World Spring Market Price Analysis 2015-2020 21
Chapter 3 World Spring Market share 22
3.1 Sales Market share by Major Players 22
3.2 Revenue Market share By Major Players 22
3.3 Production and Revenue Market share by Types, Through 2025 23
3.3.1 Production(K Unit) and Revenue(M USD) Market share by Types 2019-2020 23
3.2.2 Revenue and Production Market share Forecast by Types in 2020-2025 24
3.3 Major Regions Market share by Sales in 2019, Through 2025 25
3.4 Major Regions Market share By Revenue in 2019, Through 2025 26
Chapter 4 Supply Chain 27
4.1 Industry Supply chain Analysis 27
4.2 Raw material Market analysis 28
4.2.1 Raw material Prices analysis 2012-2020 29
4.2.2 Upstream Major Raw Materials Suppliers Analysis of Leaf Spring 30
4.2 Manufacturing Equipment Suppliers Analysis 31
4.3 Production Process Analysis 32
4.3.1 Compression Spring Process Analysis 32
4.3.2 Tension Spring Process Analysis 33
4.3.3 Torsion Spring Process Analysis 34
4.4 Production Cost Structure Benchmarks 35
4.5 End users Market Analysis 36
Chapter 5 Company Details (Foundation Year, Employee Strength and etc)s 37
7 Analysis of Spring Industry Key Manufacturers 38
5.1 Associated Spring 38
5.1.1 Company Profile 38
5.1.2 Product Information 39
5.1.3 Capacity, Production, Price, Cost, Gross, and Revenue 40
5.2 NHK 41
5.2.1 Company Profile 41
5.2.2 Product Information 42
5.2.3 Capacity, Production, Price, Cost, Gross, and Revenue 42
5.3 SOGEFI 43
5.3.1 Company Profile 43
5.3.2 Product Information 45
5.3.3 Capacity, Production, Price, Cost, Gross, and Revenue 47
5.4 MWI 48
5.4.1 Company Profile 48
5.4.2 Product Information 50
5.4.3 Capacity, Production, Price, Cost, Gross, and Revenue 51
5.5 Daewon Kangup 52
5.5.1 Company Profile 52
5.5.2 Product Information 54
5.5.3 Capacity, Production, Price, Cost, Gross, and Revenue 55
5.6 SCHERDEL 56
5.6.1 Company Profile 56
5.6.2 Product Information 57
5.6.3 Capacity, Production, Price, Cost, Gross, and Revenue 58
5.7 Mubea 59
5.7.1 Company Profile 59
5.7.2 Product Information 60
5.7.3 Capacity, Production, Price, Cost, Gross, and Revenue 61
5.8 Thyssen Krupp 62
5.8.1 Company Profile 62
5.8.2 Product Information 64
5.8.3 Capacity, Production, Price, Cost, Gross, and Revenue 64
5.9 BAUMANN SPRING 65
5.9.1 Company Profile 65
5.9.2 Product Information 67
5.9.3 Capacity, Production, Price, Cost, Gross, and Revenue 72
5.10 KERN-LIEBERS 73
5.10.1 Company Profile 73
5.10.2 Product Information 74
5.10.3 Capacity, Production, Price, Cost, Gross, and Revenue 76
5.11 China Spring Corporation Limited 77
5.11.1 Company Profile 77
5.11.2 Product Information 78
5.11.3 Capacity, Production, Price, Cost, Gross, and Revenue 78
5.12 Zhejiang Meili 79
5.12.1 Company Profile 79
5.12.2 Product Specification 80
5.12.3 Capacity, Production, Price, Cost, Gross, and Revenue 80
5.13 Rainbow Precision Metal Limited 81
5.13.1 Company Profile 81
5.13.2 Product Information 82
5.14 Komatsu Spring 82
5.14.1 Company Profile 82
5.14.2 Product Picture and Specification 83
5.15 Hayashi Spring 85
5.15.1 Company Profile 85
5.15.2 Product Information 86
Chapter 6 Globalisation & Trade 87
6.1 Business Locations 87
6.2 Supply channels 88
6.3 Marketing strategy 88
6.4 SWOT 89
Chapter 7 Distributors and Customers 91
7.1 Major Distributors and contact information 91
7.2 Major Customers and contact information by regions 92
Chapter 8 Consumption Value by Major Countries 94
8.1 USA 94
8.2 Germany 95
8.3 China 96
8.4 Japan 97
8.5 India 98
Chapter 9 World Spring Market Forecast through 2025 99
9.1 World Spring Demand by Regions Forecast through 2025 99
9.2 World Spring Price (by Regions Applications)Analysis Forecast through 2025 99
9.3 World Spring Revenue (by Regions, Types, Applications) Forecast through 2025 100
9.4 World Spring Market Analysis 101
9.4.1 World Spring Market Revenue and Growth Rate 2020-2025 101
9.4.2 World Spring Market Consumption and Growth rate 2020-2025 101
9.4.3 World Spring Market Price Analysis 2020-2025 102
Chapter 10 Key success factors and Market Conclusion 103
Source List 106
Disclosure Section 106
Research Methodology 107
Data Source 108
Disclaimer 108
Tables and figures
Figure Picture of Spring 1
Table Spring Classifications 2
Figure Several Springs Characteristics 4
Table Industry News List of Automotive Leaf Spring Assembly 4
Figure Market Revenue and Growth Rate 8
Figure Market Volume and Growth rate 9
Table Major Players Revenue Share in 2020 9
Figure Market Revenue and Growth Rate 10
Figure Market Volume and Growth Rate 11
Table Major Players Revenue in 2020 11
Table Market Revenue and Growth Rate 12
Figure Market Volume and Growth Rate 13
Table Major Players Revenue in 2020 13
Figure Market Revenue and Growth Rate 14
Figure Market Volume and Growth Rate 15
Figure Market Revenue and Growth Rate 15
Figure Market Volume and Growth Rate 16
Table Major Players Revenue in 2020 16
Figure World Spring Market Sales by types 2020 18
Figure World Spring Market Sales by types 2015 19
Figure World Spring sales share by Applications 2015 19
Figure World Spring sales share by Applications 2020 20
Table World Spring Market Revenue (M USD) and Growth Rate 2015-2020 20
Table World Spring Market Consumption and Growth rate 2015-2020 21
Table World Spring Market Price Analysis 2015-2020 21
Table Sales Market share by Major Players 2020 22
Table Revenue Market share By Major Players 2020 22
Table Revenue(M USD) Market by Types 2019-2020 23
Table Revenue Market share by Types 2019-2020 23
Table Sales(K Unit) Market by Types 2019-2020 23
Table sales Market share by Types 2019-2020 24
Figure Sales Market share Forecast by Types in 2025 24
Figure Revenue Market share Forecast by Types in 2025 25
Table Major Regions Market by Sales in 2015-2020 25
Table Major Regions Market share by Sales in 2015-2020 25
Table Major Regions Market by Revenue in 2015-2020 26
Table Major Regions Market share by Revenue in 2015-2020 26
Table Industry Supply chain Analysis 27
Table Raw Material Suppliers 28
Figure Global Price of Steel 2012-2020 (USD/MT) 29
Figure Price of Aluminum (USD/Tonne) 2008-2020 29
Table Major Raw Materials Suppliers with Contact Information of Leaf Spring 30
Table Equipment Suppliers 31
Figure Compression Spring Process Analysis 32
Figure Tension Spring Process Analysis 33
Figure Torsion Spring Process Analysis 34
Figure Production Cost Structure for Suspension Coil Spring 35
Table Major End Users by regions 36
Table Associated Spring Company Profile 38
Figure Spring Product Picture of Associated Spring 39
Table Spring Sales (K Units), Price (USD/Unit), Revenue (M USD), Gross Margin and Revenue Share of Associated Spring 2019-2020 40
Figure Spring Sales Share by types 2020 40
Table NHK Company Profile 41
Figure Spring Product Picture and Specifications of NHK 42
Table Spring Sales (K Units), Price (USD/Unit), Revenue (M USD), Gross Margin and Revenue Share of NHK 2019-2020 42
Figure Spring Sales Share by types 2020 43
Table SOGEFI Company Profile 43
Figure Spring Product Picture and Specifications of SOGEFI 45
Table Spring Sales (K Units), Price (USD/Unit), Revenue (M USD), Gross Margin and Revenue Share of SOGEFI 2019-2020 47
Figure Spring Sales Share by types 2020 48
Table MWI Company Profile 48
Figure Spring Product Picture and Specifications of MWI 50
Table Spring Sales (K Units), Price (USD/Unit), Revenue (M USD), Gross Margin and Revenue Share of MWI 2019-2020 51
Figure Spring Sales Share by types 2020 52
Table Daewon Kangup Company Profile 52
Figure Spring Product Picture of Daewon Kangup 54
Table Spring Sales (K Units), Price (USD/Unit), Revenue (M USD), Gross Margin and Revenue Share of Daewon Kangup 2019-2020 55
Figure Spring Sales Share by types 2020 56
Table SCHERDEL Company Profile 56
Figure Spring Product Picture and Specifications of SCHERDEL 57
Table Spring Sales (K Units), Price (USD/Unit), Revenue (M USD), Gross Margin and Revenue Share of SCHERDEL 2019-2020 58
Figure Spring Sales Share by types 2020 58
Table Mubea Company Profile 59
Figure Spring Product Picture and Specifications of Mubea 60
Table Spring Sales (K Units), Price (USD/Unit), Revenue (M USD), Gross Margin and Revenue Share of Mubea 2019-2020 61
Figure Spring Sales Share by types 2020 62
Table Thyssen Krupp Company Profile 62
Figure Spring Product Picture and Specifications of Thyssen Krupp 64
Table Spring Sales (K Units), Price (USD/Unit), Revenue (M USD), Gross Margin and Revenue Share of Thyssen Krupp 2019-2020 64
Figure Spring Sales Share by types 2020 65
Table BAUMANN SPRING Company Profile 65
Figure Spring Product Picture and Applications of BAUMANN SPRING 67
Figure Spring Product Picture and Applications of BAUMANN SPRING 68
Figure Spring Product Picture and Applications of BAUMANN SPRING 69
Figure Spring Product Picture and Applications of BAUMANN SPRING 70
Figure Spring Product Picture and Applications of BAUMANN SPRING 71
Figure Spring Product Picture and Applications of BAUMANN SPRING 72
Table Spring Sales (K Units), Price (USD/Unit), Revenue (M USD), Gross Margin and Revenue Share of BAUMANN SPRING 2019-2020 72
Figure Spring Sales Share by types 2020 73
Table KERN-LIEBERS Company Profile 73
Figure WIRE SPRINGS Product Picture of KERN-LIEBERS 74
Figure Spring Product Picture of KERN-LIEBERS 75
Table Spring Sales (K Units), Price (USD/Unit), Revenue (M USD), Gross Margin and Revenue Share of KERN-LIEBERS 2019-2020 76
Figure Spring Sales Share by types 2020 76
Table China Spring Corporation Limited Company Profile 77
Figure Spring Product Picture of China Spring Corporation Limited 78
Table Spring Sales (K Units), Price (USD/Unit), Revenue (M USD), Gross Margin and Revenue Share of China Spring Corporation Limited 2019-2020 78
Figure Spring Sales Share by types 2020 79
Figure Zhejiang Meili SPRING 80
Table Spring Sales (K Units), Price (USD/Unit), Revenue (M USD), Gross Margin and Revenue Share of Zhejiang Meili 2019-2020 80
Figure Spring Sales Share by types 2020 81
Figure Spring Product Picture of Rainbow Precision Metal Limited 82
Table Company Profile 82
Figure Komatsu Spring Product Picture 83
Figure Komatsu Spring Product Picture 83
Figure Komatsu Spring Product Picture 84
Table Hayashi Spring Company Profile 85
Table Hayashi Spring Spring Product Picture List 86
Table Business Locations 87
Figure Supply channels 88
Table Spring Marketing Channels Characteristic Overview 88
Figure Spring Marketing Channels Characteristic 89
Table Spring Project SWOT Analysis 89
Table Traders or Distributors with Contact Information of Leaf Spring 91
Table Major Consumers with Contact Information of Leaf Spring 92
Table USA and Consumption Value(M USD) 2015-2025 94
Table Consumption Value(M USD) 2015-2025 95
Table Consumption Value(M USD) 2015-2025 96
Table Consumption Value(M USD)2015-2025 97
Table Consumption Value(M USD) 2015-2020 98
Table World Demand (K Unit) Forecast Analysis of Spring (2020-2025) by Regions 99
Table World Price (USD/Unit) by Regions Forecast Analysis of Spring (2020-2025) 99
Table World Price (USD/Unit) by Applications Forecast Analysis of Spring (2020-2025) 100
Table World Revenue (M USD) by Regions Forecast Analysis of Spring (2020-2025) 100
Table World Revenue (M USD) by Types Forecast Analysis of Spring (2020-2025) 100
Table World Revenue (M USD) by Applications Forecast Analysis of Spring (2020-2025) 101
Table World Spring Market Revenue (M USD) and Growth Rate 2020-2025 101
Table World Spring Market Consumption and Growth rate 2020-2025 101
Table World Spring Market Price Analysis 2020-2025 102
RESEARCH METHODOLOGY
A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.
Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.
Now let’s take a closer look at the research methods here.
Secondary Research Model
Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.
Primary Insights
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.
However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.
Market Estimation
The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.
Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.
Final Presentation
The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.
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