Europe Automotive Leaf Spring Suspension Market, By Type (Mono Leaf Springs, Multi Leaf Springs); By Vehicle Type (LCV, MCV, HCV); By Country (Germany, Italy, France, Spain, the Netherlands, Belgium, NORDIC Countries, Rest of Europe), Trend Analysis, Competitive Landscape & Forecast, 2022–2028
- Published Date: November 2022
- Report ID: BWC22488
- Available Format: PDF
- Page: 150
Report Overview
An increasing adoption of commercial vehicles, a surging demand for sports utility vehicles (SUVs) and pickup trucks, and growing focus on reducing automobile emission are projected to propel the expansion of Europe Automotive Leaf Spring Suspension Market at a steady growth rate during the forecast period between 2022 and 2028.
Europe Automotive Leaf Spring Suspension Market - Industry Trends & Forecast Report, 2028
Europe Automotive Leaf Spring Suspension Market size is expected to expand at a CAGR of 6.1% during the forecast period between 2022 and 2028. Growing disposable income, economic success, rapid industrialization and commercial activities contribute to an increase in the demand for light, medium, and heavy commercial vehicles. This drives the growth of automobile industry, and Europe automotive leaf spring suspension market is projected to follow suit. Growing environmental and health concerns and rigorous pollution standards across Europe have compelled manufacturers to use modern technologies, such as car leaf spring suspension systems that reduce the vehicle weight to reduce hazardous emissions and boost fuel economy is expected to boost the market growth. In addition, an increasing demand for luxury automobiles and sports utility vehicles (SUVs) is also forecast to further expand European automotive leaf spring suspension market.
Europe Automotive Leaf Spring Suspension Market
Growth Drivers
Surging demand for commercial vehicles
The growing demand for commercial vehicles is bolstering the European automobile industry. Furthermore, due to economic progress, industrialization expansion, and logistical operations, original equipment manufacturers (OEMs) are focusing on expanding heavy-duty vehicle production to meet rising commercial demand, which is expected to fuel the European automotive leaf spring suspension market growth in the coming years.
Increasing consumer preference for luxury cars and pickup trucks
The global surge in SUV and truck sales over sedans and hatchbacks has results in an unprecedented demand for automotive leaf spring suspension market to increase vehicle performance. Other benefits, such as uniform weight distribution, convenient design, premium hauling power, and high load-bearing potential when compared to coil spring suspension, are expected to drive the deployment of automotive leaf spring suspension across a wide range of LCVs and HCVs during the forecast period.
Restraints
Increasing usage of substitutes
The rising adoption of an alternative, such as air suspension, over automotive leaf spring suspension system is anticipated to limit the growth of European automotive leaf spring suspension market. The air suspension system provides comfort and quality ride while minimizing the cargo damage in heavy vehicles. In addition, the low deployment of leaf springs in the light-duty vehicles is also anticipated to restrain the market growth in the coming years.
Impact of COVID -19 on Europe Automotive Leaf Spring Suspension Market
COVID-19 pandemic had a significant impact on Europe automotive leaf spring suspension market. Due to reduced transportation and logistics operations and supply chain delays, European vehicle production had stopped, and the region witnessed a significant negative impact on the deployment of automobile leaf spring suspension. Furthermore, major European countries, such as Germany, Italy, and Spain, took extraordinary measures to limit the spread of novel coronaviruses, including travel restrictions. They also control a massive portion of the automotive leaf spring suspension business, owing to European severe road safety regulations. Furthermore, in 2020, European passenger car sales and automobile production fell, and businesses needed time to stabilize their operations. However, with the increased focus on new features and technology, the manufacturers can attract potential clients and expand their footprints in emerging markets. This aspect is projected to boost the growth of Europe automotive leaf spring suspension market. In addition, post the relaxation of COVID-19 related restrictions, such as loosening of the transportation, travel and logistics restrictions, in Europe is expected to further drive the growth of European automotive leaf spring suspension market at a high rate during the period in analysis.
Europe Automotive Leaf Spring Suspension Market
Segmental Coverage
Europe Automotive Leaf Spring Suspension Market – By Type
Based on by type, Europe automotive leaf spring suspension market has Mono Leaf Springs and Multi Leaf Springs segments. The multi leaf springs segment held a higher market share in 2021 and is expected to maintain its dominance during the forecast period. Multi-leaf springs are comprised of several arc-formed steel strips that come in diverse sizes. The multi-leaf springs are commonly used to support heavy loads. Hence, the segment growth is fueled by growing adoption of multi-leaf springs in HCVs and LCVs for their greater load-carrying ability. The surging demand for heavy-duty commercial vehicles worldwide is expected to boost the multi-leaf spring segment. An increasing usage of high end materials in leaf spring will further aid in decreasing vehicle’s weight and enhance performance. Hence, this aspect is expected to further fuel the segment growth in the coming years.
Europe Automotive Leaf Spring Suspension Market – By Vehicle Type
Based on the vehicle type, Europe automotive leaf spring suspension market has Light Commercial Vehicle (LCV), Medium Commercial Vehicle (MCV), and Heavy Commercial Vehicle (HCV) segment. Among these, the HCV segment held the highest market share in 2021 and is expected to continue the leadership position in the coming years. The increased heavy transportation and logistics activities in commercial sector is driving the adoption of HCVs. Automotive leafy spring suspensions are popular among HCVs, such as trucks and buses, when compared to LCVs that require both leaf spring and coil spring suspensions depending on the loading conditions. Hence, the rising adoption of leaf springs in HCVs aiding heavy loading operations is projected to boost the growth of segment during the period in analysis.
Europe Automotive Leaf Spring Suspension Market – By Country
Based on country, Europe automotive leaf spring suspension market covers Germany, United Kingdom, Italy, France, Spain, Netherlands, Belgium, NORDIC countries, and Rest of Europe. Among these, Germany is expected to dominate the market due to increasing adoption of commercial vehicles, sales, and production. The expanding automotive industry and surging demand for HCVs for commercial and industrial purposes, is projected to drive the market in the region.
Competitive Landscape
Major players operating in Europe Automotive Leaf Spring Suspension Market include Hendrickson Commercial Vehicle Systems, Sogefi SpA, Olgun Celik A.S., HŽP a.s., Frauenthal Holding, IFC Composite GmbH, Owen Springs, Paddington Motor Springs, Jones Springs, Coil-Springs, Rossendale Road Springs, Lamina Suspension, and GME Springs. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Recent Developments
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In September 2021: Sogefi won a strategic contract to supply a Germany-based premium carmaker with critical component supplies, such as filters and suspension units like leaf springs and coil springs, for the next-generation full-electric (BEV) platform.
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In June 2021: Hexion formed a collaboration with Rassini to incorporate the composite leaf spring in the new Ford F-150 model.
Scope of the Report
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Attributes |
Details |
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Years Considered |
Historical Data – 2018–2021 |
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Base Year – 2021 |
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Estimated Year – 2022 |
|
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Forecast Period– 2022–2028 |
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Facts Covered |
Revenue in USD million |
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Market Coverage |
Germany, United Kingdom, Italy, France, Spain, the Netherlands, Belgium, NORDIC countries, Rest of Europe |
|
Product/ Service Segmentation |
Type, Vehicle Type, Region |
|
Key Players |
Hendrickson Commercial Vehicle Systems, Sogefi SpA, Olgun Celik A.S., HŽP a.s., Frauenthal Holding, IFC Composite GmbH, Owen Springs, Paddington Motor Springs, Jones Springs, Coil-Springs, Rossendale Road Springs, Lamina Suspension, GME Springs |
By Type
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Mono Leaf Springs
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Multi Leaf Springs
By Vehicle Type
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LCV
-
MCV
-
HCV
By Country
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Germany
-
UK
-
Italy
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France
-
Spain
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The Netherlands
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Belgium
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NORDIC Countries
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Rest of Europe
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- Europe Automotive Leaf Spring Suspension Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Rising demand for commercial vehicles
- Consumer preference for luxury cars and pickup trucks
- Restraints
- Use of air suspension as a substitute might limit the market expansion
- Opportunities
- Increasing sales of All Terrain Vehicles (ATVs)
- Challenges
- Further delays for the technology to develop and for consumers to embrace level 4 autonomous vehicles
- Growth Drivers
- Technology Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Europe Automotive Leaf Spring Suspension Market Overview
- Market Size & Forecast, by Value, 2018–2028
- By Value (USD Million)
- Market Share & Forecast
- By Type
- Mono Leaf Springs
- Multi Leaf Springs
- By Vehicle Type
- LCV
- MCV
- HCV
- By Country
- Germany
- By Type
- By Vehicle Type
- UK
- By Type
- By Vehicle Type
- Italy
- By Type
- By Vehicle Type
- France
- By Type
- By Vehicle Type
- Spain
- By Type
- By Vehicle Type
- The Netherlands
- By Type
- By Vehicle Type
- Belgium
- By Type
- By Vehicle Type
- NORDIC Countries
- By Type
- By Vehicle Type
- Rest of Europe
- By Type
- By Vehicle Type
- Germany
- By Type
- Market Size & Forecast, by Value, 2018–2028
- Competitive Landscape
- List of Key Players and Their Offerings
- Europe Automotive Leaf Spring Suspension Company Market Share Analysis, 2021
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships, and others)
- Impact of Covid-19 on Europe Automotive Leaf Spring Suspension Market
- Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT)
- Hendrickson Commercial Vehicle Systems
- Sogefi SpA
- Olgun Celik A.S.
- HŽP a.s.
- Frauenthal Holding
- IFC Composite GmbH
- Owen Springs
- Paddington Motor Springs
- Jones Springs
- Coil-Springs
- Rossendale Road Springs
- Lamina Suspension
- GME Springs
- Other Prominent Companies
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Country
- Assumptions & Limitations
- Qualitative Research
*Financial information of case of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
Figure 1 Europe Automotive Leaf Spring Suspension Market Segmentation
Figure 2 Europe Automotive Leaf Spring Suspension Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2021
Figure 4 Europe Automotive Leaf Spring Suspension Market Size, By Value (USD Million), 2018–2028
Figure 5 Europe Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Figure 6 Europe Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Figure 7 Europe Automotive Leaf Spring Suspension Market Share, By Country, By Value, 2018–2028
Figure 8 Germany Automotive Leaf Spring Suspension Market Size, By Value (USD Million), 2018–2028
Figure 9 Germany Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Figure 10 Germany Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Figure 11 UK Automotive Leaf Spring Suspension Market Size, By Value (USD Million), 2018–2028
Figure 12 UK Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Figure 13 UK Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Figure 14 Italy Automotive Leaf Spring Suspension Market Size, By Value (USD Million), 2018–2028
Figure 15 Italy Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Figure 16 Italy Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Figure 17 France Automotive Leaf Spring Suspension Market Size, By Value (USD Million), 2018–2028
Figure 18 France Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Figure 19 France Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Figure 20 Spain Automotive Leaf Spring Suspension Market Size, By Value (USD Million), 2018–2028
Figure 21 Spain Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Figure 22 Spain Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Figure 23 The Netherlands Automotive Leaf Spring Suspension Market Size, By Value (USD Million), 2018–2028
Figure 24 The Netherlands Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Figure 25 The Netherlands Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Figure 26 Belgium Automotive Leaf Spring Suspension Market Size, By Value (USD Million), 2018–2028
Figure 27 Belgium Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Figure 28 Belgium Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Figure 29 NORDIC Countries Automotive Leaf Spring Suspension Market Size, By Value (USD Million), 2018–2028
Figure 30 NORDIC Countries Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Figure 31 NORDIC Countries Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Figure 32 Rest of Europe Automotive Leaf Spring Suspension Market Size, By Value (USD Million), 2018–2028
Figure 33 Rest of Europe Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Figure 34 Rest of Europe Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
List of Tables
Table 1 Europe Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Table 2 Europe Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Table 3 Europe Automotive Leaf Spring Suspension Market Share, By Country, By Value, 2018–2028
Table 4
Table 5 Germany Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Table 6 Germany Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Table 7 UK Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Table 8 UK Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Table 9 Italy Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Table 10 Italy Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Table 11 France Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Table 12 France Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Table 13 Spain Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Table 14 Spain Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Table 15 The Netherlands Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Table 16 The Netherlands Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Table 17 Belgium Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Table 18 Belgium Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Table 19 NORDIC Countries Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Table 20 NORDIC Countries Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Table 21 Rest of Europe Automotive Leaf Spring Suspension Market Share, By Type, By Value, 2018–2028
Table 22 Rest of Europe Automotive Leaf Spring Suspension Market Share, By Vehicle Type, By Value, 2018–2028
Table 23 Hendrickson Commercial Vehicle Systems Company Overview
Table 24 Hendrickson Commercial Vehicle Systems Financial Overview
Table 25 Sogefi SpA Company Overview
Table 26 Sogefi SpA Financial Overview
Table 27 Olgun Celik A.S. Company Overview
Table 28 Olgun Celik A.S. Financial Overview
Table 29 HŽP a.s. Company Overview
Table 30 HŽP a.s. Financial Overview
Table 31 Frauenthal Holding Company Overview
Table 32 Frauenthal Holding Financial Overview
Table 33 IFC Composite GmbH Company Overview
Table 34 IFC Composite GmbH Financial Overview
Table 35 Owen Springs Company Overview
Table 36 Owen Springs Financial Overview
Table 37 Paddington Motor Springs Company Overview
Table 38 Paddington Motor Springs Financial Overview
Table 39 Jones Springs Company Overview
Table 40 Jones Springs Financial Overview
Table 41 Coil-Springs Company Overview
Table 42 Coil-Springs Financial Overview
Table 43 Rossendale Road Springs Company Overview
Table 44 Rossendale Road Springs Financial Overview
Table 45 Lamina Suspension Company Overview
Table 46 Lamina Suspension Financial Overview
Table 47 GME Springs Company Overview
Table 48 GME Springs Financial Overview
Market Segmentation
By Type
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Mono Leaf Springs
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Multi Leaf Springs
By Vehicle Type
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LCV
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MCV
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HCV
By Country
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Germany
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UK
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Italy
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France
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Spain
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The Netherlands
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Belgium
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NORDIC Countries
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Rest of Europe
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