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(Transportation-News.com, March 05, 2019 )
As per the latest market intelligence report published by Stratview Research, the Automotive Leaf Spring Market is anticipated to reach at US$ 5.8 billion by 2024.
The research studies Automotive Leaf Spring Market in the trend period of 2013 to 2018 and forecasted period of 2019 to 2024 under seven segments by Vehicle Type (Passenger Car, Light-Duty Commercial Vehicle, Medium- & Heavy-Duty Vehicle, and Others), by Spring Type (Parabolic Leaf Spring and Multi-Leaf Spring), by Material Type (Metal Leaf Springs and Composite Leaf Springs), by Location Type (Front Suspension and Rear Suspension), by Manufacturing Process Type (Shot Peening, HP-RTM, and Others), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024
The study finds –
Asia-Pacific is expected to remain the largest market for leaf springs in the foreseen future, because of increasing production of MHCVs in the developing Asian economies, such as China and India.
MHCV dominates the market in terms of value and is likely to maintain its dominance in the coming five years as well.
Steel leaf spring is expected to remain the larger spring type in the next five years; however, composite spring is likely to witness the higher growth for the same period.
Click here to read the detailed description: https://www.stratviewresearch.com/272/automotive-leaf-springs-market.html
Go through the TOC: https://www.stratviewresearch.com/toc/272/automotive-leaf-springs-market.html
Automotive Leaf Spring Market Highlights
A leaf spring is a spring comprising leaves and is commonly used for suspension in the wheeled vehicles. It is a semi-elliptical arm consisting of one or more leaves which are strips of steel or other materials that are meant to flex under pressure yet maintain their original shape when not under pressure.
The next five years for the leaf spring market in the automotive industry seems attractive with significant growth opportunities in both, OE as well as aftermarket segments. The market for automotive leaf springs is set to reach an estimated value of US$ 5.8 billion in 2024, witnessing a healthy growth in the coming years. Several factors are bolstering the demand for leaf springs among which, rising production of LCVs and MHCVs is the biggest growth driver. Other noticeable driving factors are advancements in the leaf spring technology, such as parabolic leaf springs; greater demand for lightweight springs, especially composite leaf springs; and rising automotive fleet.
About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
Stratview Research
Ritesh Gandecha
+1-313-307-4176
sales@stratviewresearch.com
Source: EmailWire.Com 
Source: EmailWire.com
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