Automotive Leaf Spring Aftermarket Is Likely to Experience a Strong Growth During 2021-2024
Stratview Research delivers key insights on the global 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 Rest of the World [Brazil, Argentina, and Others]).
Market Insights
The report suggests that the overall Automotive Leaf Spring Aftermarket was 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
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 74% 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 >28%, whereas multi-leaf spring held a market share of >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 77% in 2018.
Regional Insights
Asia-Pacific is expected to remain the largest leaf spring aftermarket with a market share of more than 43% in 2018.
Key Players
The following are some of the key players in the automotive leaf spring aftermarket:
- 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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