Report Overview

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

• 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.

• 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

By Type

• Mono Leaf Springs

• Multi Leaf Springs

By Vehicle Type

• LCV

• MCV

• HCV

By Country

• Germany

• UK

• Italy

• France

• Spain

• The Netherlands

• Belgium

• NORDIC Countries

• Rest of Europe

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Europe Automotive Leaf Spring Suspension Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rising demand for commercial vehicles
         2. Consumer preference for luxury cars and pickup trucks
      2. Restraints
         1. Use of air suspension as a substitute might limit the market expansion
      3. Opportunities
         1. Increasing sales of All Terrain Vehicles (ATVs)
      4. Challenges
         1. Further delays for the technology to develop and for consumers to embrace level 4 autonomous vehicles
   3. Technology Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Europe Automotive Leaf Spring Suspension Market Overview
   1. Market Size & Forecast, by Value, 2018–2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
         1. Mono Leaf Springs
         2. Multi Leaf Springs
      2. By Vehicle Type
         1. LCV
         2. MCV
         3. HCV
      3. By Country
         1. Germany
            1. By Type
            2. By Vehicle Type
         2. UK
            1. By Type
            2. By Vehicle Type
         3. Italy
            1. By Type
            2. By Vehicle Type
         4. France
            1. By Type
            2. By Vehicle Type
         5. Spain
            1. By Type
            2. By Vehicle Type
         6. The Netherlands
            1. By Type
            2. By Vehicle Type
         7. Belgium
            1. By Type
            2. By Vehicle Type
         8. NORDIC Countries
            1. By Type
            2. By Vehicle Type
         9. Rest of Europe
            1. By Type
            2. By Vehicle Type
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Europe Automotive Leaf Spring Suspension Company Market Share Analysis, 2021
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, and others)
6. Impact of Covid-19 on Europe Automotive Leaf Spring Suspension Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT)
   1. Hendrickson Commercial Vehicle Systems
   2. Sogefi SpA
   3. Olgun Celik A.S.
   4. HŽP a.s.
   5. Frauenthal Holding
   6. IFC Composite GmbH
   7. Owen Springs
   8.  Paddington Motor Springs
   9. Jones Springs
   10. Coil-Springs
   11. Rossendale Road Springs
   12. Lamina Suspension
   13. GME Springs
   14. Other Prominent Companies
8. Key Strategic Recommendations
9. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Country
   5. Assumptions & Limitations

*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