Global Automotive Composite Leaf Springs Market by Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Duty Commercial Vehicle, and Others), by Installation Type (Transversal and Longitudinal), by Location Type (Front and Rear), by Manufacturing Process (Compression Molding, Prepreg Layup, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2016 – 2021
This report, from Stratview Research, studies the global composite leaf springs market in the automotive industry over the period 2010 to 2021. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The Global Automotive Composite Leaf Springs Market in the Automotive Industry: Highlights
Composite leaf springs offer several benefits over steel leaf springs, such as high durability, greater flexibility, better vibration energy absorption, and fatigue resistance. Composite leaf spring is about five times more durable than similar sized steel leaf springs. The biggest advantage of composite leaf springs is significant weight savings; it is about 1/7th the weight of a steel leaf spring. Composite leaf springs are not new to the automotive industry. Chevrolet Corvette has been using composite leaf springs at both front and rear locations in the transverse position since 1981.
The global automotive composite leaf spring is a niche market but possesses significant growth potential during the forecast period of 2016 to 2021. It is forecasted to grow at an attractive CAGR of 9.3% over the next five years to reach $65.0 million in 2021. Increasing demand of lightweight leaf springs to achieve stringent government regulations of many countries, such as CAFÉ Standards, would be the major growth driver of the composite leaf springs in the automotive industry during the forecast period.
The global automotive composite leaf springs market is segmented on the basis of vehicle type (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 composite leaf springs market during the forecast period. Pick-up, van, and SUV are the major LCV types that are using composite leaf springs either on transversal or longitudinal position depending on requirement, vehicle design type, etc. All major OEMs are evaluating the use of composite leaf springs in their major pick-ups, vans, and SUVs.
There are two type of installation for composites leaf springs in a vehicle; transversal and longitudinal. Transversal is the most common installation type for composite leaf springs in the automotive industry. Currently, all major auto models using composite leaf springs, such as Chevrolet Corvette, are using it on transversal-mounted positon. There is very limited use of composite leaf springs on the longitudinal position.
Compression molding is expected to remain the most dominant manufacturing process in the global automotive composite leaf springs market during the forecast period. High Pressure-Resin Transfer Molding (HP-RTM) is likely to experience the fastest growth for the same period, driven by shorter parts cycle time.
Europe is expected to remain the largest market for composite leaf springs over the next five years, driven by increasing use of composite leaf springs in the light commercial vehicles. Asia-Pacific is relatively a small market for composite leaf springs but is expected to experience the fastest growth for the same period.
The supply chain of this market comprises raw materials 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 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 major players to gain competitive edge in the market.
This report offers high quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 300 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles are leveraged to gather the data. More than 8 detailed primary interviews with the market players across the value chain in all the four regions and industry experts are usually executed to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
Market structure: Overview, industry life cycle analysis, supply chain analysis.
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
Market trend and forecast analysis.
Market segment trend and forecast.
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities.
Strategic growth opportunities for the existing and new players.
Key success factors.
The composite leaf springs market in the automotive industry is segmented into the following categories
Global Composite Leaf Springs Market in the Automotive Industry by Vehicle Type:
Passenger Car (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Light Duty Vehicles (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Medium & Heavy Duty Vehicles (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Global Composite Leaf Springs Market in the Automotive Industry by Installation Type:
Transversal (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Longitudinal (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Global Composite Leaf Springs Market in the Automotive Industry by Manufacturing Process:
Global Composite Leaf Springs Market in the Automotive Industry by Location:
Front (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Rear (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Global Leaf Springs Market in the Automotive Industry by Region:
North America (Country Analysis: US, Canada, and Mexico)
Europe (Country Analysis: Germany, Spain, United Kingdom, Italy, and Rest of the Europe)
Asia – Pacific (Country Analysis: China, Japan, South Korea, India, and Rest of the Asia-Pacific)
Rest of the World (Country Analysis: Brazil, Argentina, and Others)
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Detailed profiling of additional market players (up to 3)
SWOT analysis of key players (up to 3)
Current market segmentation of any one of the regions by manufacturing process type
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview research offers custom research services across the sectors.