The Global Automotive Composite Leaf Spring Market was valued at US$ 71.6 Mn in 2021 and is expected to reach US$ 138 Mn by 2032, finds Future Market Insights (FMI) in a recent market survey. A
new market research report by Future Market Insights on the Automotive
Composite Leaf Spring Market includes a global industry analysis
2017–2021 and an opportunity assessment 2022–2032. As per the findings
of the report, the Transversal installation of Composite Leaf Spring
constitutes the bulk of the revenue that will be generated through this
segment. It is projected that Transversal Type installation of composite
will grow at 5.9% CAGR during the forecast period.
The United States to Command the Larger market share of Automotive Composite Leaf Spring throughout the Analysis Period
The United States will own 33.9% of the global Automotive Composite Leaf Spring Market. From 2017 through 2021, the CAGR is 6.7%. In the United States. The United States has the highest vehicle
ownership per capita in the world and the automotive industry
contributes about 3% of GDP. North America brought in US$31.7 Mn in revenue in 2022, up 7% from the previous year. In the following decade. In North America,
continuous advancements in composite materials have helped to preserve
competitiveness against traditional metals and plastics. These elements
are propelling the market's revenue ahead.
“The introduction of new carbon fiber composites opens huge untapped segments of Automotive Leaf Spring Market. Their Commercialization in Light Commercial Vehicle segment can lead to
a significant increase in revenue growth of Automotive Leaf Spring
market” comments an analyst at Future Market Insights.
Automotive Composite Leaf Spring Market: Competition Insights
Currently, Composite Leaf Spring manufacturers are largely aiming at setting up
manufacturing facilities, winning orders, and showcasing technology at
exhibitions. The key companies operating in the flexible screen market
include Benteler SGL, Hendrickson International, HyperCo, IFC Composite
GmbH, LiteFlex, LLC, Mubea Fahrwerkstechnologien GmbH, ARC Suspension,
FLEX-FORM, Heathcote Industrial Plastics, Hendrickson Holding LLC,
KraussMaffei, Jamna Auto Industries Ltd, Standens, NHK Spring,
Mitsubishi Steel, Owen Spring, Beijer Alma, Fangda, Dongfeng, Rassini
International.
The key recent developments of flexible screens manufacturers are as follows:
- In October 2019, Hendrickson has completed the acquisition of Dayton, Ohio-based
Liteflex Composite Springs. Under the name Hendrickson Composites, the
Company will operate as a branch of Hendrickson. Hendrickson's product
folio is bolstered with more composite spring technology. - In Jun 2021, Rassini, a producer of suspension components for light commercial
vehicles, has specified the use of an EPIKOTE epoxy resin system
from Hexion Inc. for an innovative rear suspension system found in Ford
Motor Co.’s new pickup truck model. - In Jan 2018, SGL Group with its joint venture with BENTELER Automotive, the complete takeover of BENTELER-SGL enables us to expand our serial productioncapabilities or components made from fiber-reinforced composites such as Leaf Spring.
- In Jul 2021, Hexcel’s HexPly M901 prepreg system has been selected by Rassini, to
speed up prototype and new product development cycles. The company aims
to reduce overall time to market with the easy-to-process material that
enables effective early-stage design screening and cost-effective
production. - In Oct 2021, Under the UK government-funded research project, TUCANA, AOC AGwith Astar has
developed a new sheet molding compound based on Daron polyurethane
hybrid technology, that enables the production of chopped carbon
fiber molded parts on an industrial scale with the mechanical
performance of epoxy resin CF-SMC, and the manufacturing ease of
unsaturated polyester resin and vinyl ester resin SMC.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of
the Automotive Composite Leaf Springs Market, presenting historical
market data (2017-2021) and forecast statistics for the period of
2022-2032.
The study reveals extensive growth in Automotive Composite Leaf Springs Market in terms of Installation Type (Transversal
and Longitudinal), By Process Type (High-Pressure Resin Transfer
Molding Process, Prepreg Layup Process, Others), By Location Type (Front
Leaf Spring, Rear Leaf Spring), By Vehicle Type (Passenger Car, Light
Commercial Vehicle, Medium, and Heavy Duty Vehicles), across five
regions (North America, Latin America, Europe, Asia Pacific and Middle
East & Africa).
About Future Market Insights (FMI)
Future Market Insights, Inc. is an ESOMAR-certified business consulting &
market research firm, a member of the Greater New York Chamber of
Commerce and is headquartered in Delaware, USA. A recipient of Clutch
Leaders Award 2022 on account of high client score (4.9/5), we have been
collaborating with global enterprises in their business transformation
journey and helping them deliver on their business ambitions. 80% of the
largest Forbes 1000 enterprises are our clients. We serve global
clients across all leading & niche market segments across all major
industries.
