Automotive Composite Leaf Springs Market Expectations and Growth Trends Highlighted Until 2032

The Global Automotive Composite Leaf Spring Market was valued at US$ 71.6 Mn in 2021 and is expected to reach US$ 138 Mn by 2032, finds Future Market Insights (FMI) in a recent market survey. A new market research report by Future Market Insights on the Automotive Composite Leaf Spring Market includes a global industry analysis 2017–2021 and an opportunity assessment 2022–2032. As per the findings of the report, the Transversal installation of Composite Leaf Spring constitutes the bulk of the revenue that will be generated through this segment. It is projected that Transversal Type installation of composite will grow at 5.9% CAGR during the forecast period.

The United States to Command the Larger market share of Automotive Composite Leaf Spring throughout the Analysis Period

The United States will own 33.9% of the global Automotive Composite Leaf Spring Market. From 2017 through 2021, the CAGR is 6.7%. In the United States. The United States has the highest vehicle ownership per capita in the world and the automotive industry contributes about 3% of GDP. North America brought in US$31.7 Mn in revenue in 2022, up 7% from the previous year. In the following decade. In North America, continuous advancements in composite materials have helped to preserve competitiveness against traditional metals and plastics. These elements are propelling the market's revenue ahead.

“The introduction of new carbon fiber composites opens huge untapped segments of Automotive Leaf Spring Market. Their Commercialization in Light Commercial Vehicle segment can lead to a significant increase in revenue growth of Automotive Leaf Spring market” comments an analyst at Future Market Insights.

Automotive Composite Leaf Spring Market: Competition Insights

Currently, Composite Leaf Spring manufacturers are largely aiming at setting up manufacturing facilities, winning orders, and showcasing technology at exhibitions. The key companies operating in the flexible screen market include Benteler SGL, Hendrickson International, HyperCo, IFC Composite GmbH, LiteFlex, LLC, Mubea Fahrwerkstechnologien GmbH, ARC Suspension, FLEX-FORM, Heathcote Industrial Plastics, Hendrickson Holding LLC, KraussMaffei, Jamna Auto Industries Ltd, Standens, NHK Spring, Mitsubishi Steel, Owen Spring, Beijer Alma, Fangda, Dongfeng, Rassini International.

The key recent developments of flexible screens manufacturers are as follows:

• In October 2019, Hendrickson has completed the acquisition of Dayton, Ohio-based Liteflex Composite Springs. Under the name Hendrickson Composites, the Company will operate as a branch of Hendrickson. Hendrickson's product folio is bolstered with more composite spring technology.

• In Jun 2021, Rassini, a producer of suspension components for light commercial vehicles, has specified the use of an EPIKOTE epoxy resin system from Hexion Inc. for an innovative rear suspension system found in Ford Motor Co.’s new pickup truck model.

• In Jan 2018, SGL Group with its joint venture with BENTELER Automotive, the complete takeover of BENTELER-SGL enables us to expand our serial productioncapabilities or components made from fiber-reinforced composites such as Leaf Spring.

• In Jul 2021, Hexcel’s HexPly M901 prepreg system has been selected by Rassini, to speed up prototype and new product development cycles. The company aims to reduce overall time to market with the easy-to-process material that enables effective early-stage design screening and cost-effective production.

• In Oct 2021, Under the UK government-funded research project, TUCANA, AOC AGwith Astar has developed a new sheet molding compound based on Daron polyurethane hybrid technology, that enables the production of chopped carbon fiber molded parts on an industrial scale with the mechanical performance of epoxy resin CF-SMC, and the manufacturing ease of unsaturated polyester resin and vinyl ester resin SMC.

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Automotive Composite Leaf Springs Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in Automotive Composite Leaf Springs Market in terms of Installation Type (Transversal and Longitudinal), By Process Type (High-Pressure Resin Transfer Molding Process, Prepreg Layup Process, Others), By Location Type (Front Leaf Spring, Rear Leaf Spring), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium, and Heavy Duty Vehicles), across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

For More Info@ https://www.futuremarketinsights.com/reports/automotive-composite-leaf-springs-market

About Future Market Insights (FMI)

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.