The Market of Automotive Composite Leaf Springs to grow beyond US$ 86.6 million by 2023
February 12, 2020
Automotive Composite Leaf Spring Market Overview:
The global automotive composite leaf spring is a niche market and currently represents less than 1% of the total automotive leaf springs (metals + composites) market. It is likely to remain niche in the foreseeable future but possesses significant growth potential in the coming years. It is forecasted to grow at an attractive rate over the next five years to reach US$ 86.6 million in 2023. Increasing automobile production, an increasing demand for lightweight leaf springs to achieve stringent government regulations of many countries, such as CAFÉ Standards, and the market entry of new players targeting local markets are the major factors that are proliferating the growth of the composite leaf springs market in the automotive industry.
Report Overview:
This report, from Stratview Research, studies the global composite leaf springs market in the automotive industry over the trend period 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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https://www.stratviewresearch.com/Request-Sample/181/automotive-composite-leaf-springs-market.html
Automotive Composite Leaf Spring Market Segment Insights:
Light commercial vehicle: The growth engine
The global automotive composite leaf springs market is segmented on the basis of vehicle type as Passenger Car, Light Commercial Vehicle, Medium- & Heavy-Duty Commercial Vehicle, and Others. Light commercial vehicle (LCV) is the expected to remain the growth engine of the global automotive composite leaf springs market during the forecast period. Pick-up, Van, and SUVs are the major LCV types that are using composite leaf springs at either transversal or longitudinal position, depending on requirement, vehicle design type, etc. All the major OEMs are evaluating the use of the composite leaf springs in their major Pick-up, VAN, and SUV models. The passenger car is likely to witness the highest growth during the same period, driven by an increasing penetration of composite leaf springs.
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https://www.stratviewresearch.com/toc/181/automotive-composite-leaf-springs-market.html
Dominance of: HP-RTM
In terms of manufacturing process type, the market is segmented into Compression Molding, High-Pressure Resin Transfer Molding (HP-RTM), Press Molding, and Others. HP-RTM is likely to be the most dominant process in the market during the forecast period. The process type is also likely to witness the highest growth during the same period as well. The process type offers several advantages including a short part cycle time and has been gaining the traction not only in composite leaf springs but also in other structural parts of automobile including passenger cell.
A highly/moderately/fragment consolidated Market
The supply chain of this market comprises raw material suppliers, composite leaf spring manufacturers, Automotive OEMs, distributors, and Dealers. The key automotive OEMs are Daimler, GM, Volvo, Fiat, Iveco, Peterbilt, Navistar, and Mahindra & Mahindra. The global automotive composite leaf spring is a highly consolidated market. The key leaf spring manufacturers are Liteflex LLC, IFC Composite, and Benteler-SGL. New product development, capacity expansion, and process optimization are the key strategies adopted by the key players to gain a competitive edge in the market.
Regional Hegemony of Europe
Europe is expected to remain the largest market for composite leaf springs in the automotive industry over the next five years, driven by increasing usage of composite leaf springs in the light commercial vehicles and passenger cars. Asia-Pacific and North America are set to witness higher growths in the coming five years, driven by a host of factors including a gradual shift of assembly plants of OEMs in these regions, an increasing penetration of composite leaf springs, and market entry of local composite leaf spring manufacturers.
Click here for other high value market reports from Stratview Research in the Automotive Industry: https://www.stratviewresearch.com/market-reports/Automotive-Transportation.html
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