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(Transportation-News.com, December 01, 2018 )
Stratview Research announces the launch of a new research report on Automotive Leaf Spring Aftermarket by Vehicle Type (Passenger Car, LCV, M&HCV, and Others), by Spring Type (Parabolic Leaf Spring and Multi-Leaf Spring), by Location Type (Front Suspension and Rear Suspension), and by Region (North America, Europe, Asia-Pacific, and Rest of World) Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024
Automotive Leaf Spring Aftermarket: Highlights
Leaf spring is one of the oldest suspension components and is still being preferred in most of the LCVs and MHCVs. Over the eons, the automotive industry has witnessed a remarkable transition in the leaf spring technology, material, style, design, etc. There are countless styles of leaf-spring suspension available worldwide featuring different mounting points, shapes, and sizes. Leaf spring has to be replaced frequently, generally in 9-12 months, due to the damages like sag, break, and crack, caused by several factors including uneven road and excess load on the vehicle.
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As per the Stratview Research, The global automotive leaf spring aftermarket is likely to witness a healthy growth rate over the next five years to reach an estimated value of US$ 1,998.8 million in 2024. Increasing automotive fleet size is the key driver of the leaf spring aftermarket in the automotive industry. Organic growth in automobile production, owing to increasing disposable income and growing urbanization, is also imprinting a positive impact on the future demand for leaf springs in the aftermarket segment in the automotive industry.
The global leaf spring aftermarket 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 during the forecast period, owing to a higher penetration of leaf springs in the MHCV segment. Also, there is a more frequent replacement of leaf springs in the vehicle type due to carrying higher loads.
Based on the spring type, the aftermarket is segmented as parabolic leaf spring and multi-leaf spring. Multi-leaf spring is expected to remain the dominant spring type in the aftermarket during the forecast period, whereas parabolic leaf spring is expected to experience a higher growth during the same period.
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Ritesh Gandecha
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Source: EmailWire.Com 
Source: EmailWire.com
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