Stratview Research delivers key insights on the Automotive leaf spring aftermarket. According to Stratview Research, the market is segmented by Vehicle Type (Passenger Car, LCV, M&HCV, and Others), Spring Type (Parabolic Leaf Spring and Multi-Leaf Spring), Location Type (Front Suspension and Rear Suspension), and by Region (North America, Europe, Asia-Pacific, and Rest of World).
Market Insights
The report suggests that the overall Automotive leaf spring aftermarket is estimated to grow from USD 18,53,707.5 million in 2020 to USD 19,98,769.5 million by 2024 at a CAGR of over 2.0% during the forecast period.
Market Segments' Analysis
By Vehicle Type
The market is segmented based on the vehicle type as Passenger Car, LCV, M&HCV, and Other Vehicles. M&HCV is expected to remain the growth engine of the aftermarket with a market share of more than 75% in 2018.
By Type of Springs
Based on the spring type, the market is segmented as parabolic leaf spring and multi-leaf spring. parabolic leaf spring is expected to remain the dominant spring type in the aftermarket accounting for more than 30%, whereas multi-leaf spring held a market share of more than 25% in 2018.
By Location Type
Based on the location type, the market is segmented as front suspension and rear suspension. The rear suspension dominated the segment with a market share of more than 75% in 2018.
Regional Insights
Asia-Pacific is expected to remain the largest leaf spring aftermarket with a market share of more than 40% in 2018.
Key Players
The following are some of the key players in the automotive leaf spring aftermarket:
- Hendrickson International
- NHK Springs Co., Ltd.
- Jamna Auto Industries
- Rassini
- Dongfeng Motor Suspension Spring Co., Ltd.
FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for automotive leaf spring aftermarket in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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