Europe Automotive Suspension Coil Springs Market was valued at USD 6.5 Billion in 2022 and is projected to reach USD 8.3 Billion by 2030, growing at a CAGR of 4.0% from 2024 to 2030.
The Europe Automotive Suspension Coil Springs Market plays a pivotal role in the performance and safety of vehicles across the continent. Suspension coil springs are an integral component of a vehicle’s suspension system, offering the support necessary to absorb road shocks, improve ride quality, and ensure vehicle stability. With the growing demand for improved vehicle performance, comfort, and safety, industries are increasingly relying on high-quality coil springs tailored to specific automotive needs.
The market can be segmented based on the type of vehicle, including passenger cars, commercial vehicles, and electric vehicles (EVs). Among these, the demand for passenger cars and EVs has seen substantial growth. As more consumers and manufacturers prioritize fuel efficiency, lightweight materials, and reduced emissions, coil springs are becoming a crucial part of automotive design. The automotive suspension coil springs market is also witnessing the growing adoption of advanced coil spring designs, such as progressive wound springs and multi-layered springs, which offer improved durability and performance.
From the perspective of industrial requirements, industries demand coil springs that are not only durable but also lightweight and resistant to wear and tear. High-strength steel and other durable materials are frequently used in manufacturing these springs to ensure longevity and optimal performance. Furthermore, industries are seeking custom designs that cater to specific vehicle models, allowing for better compatibility and enhanced ride quality. As automakers increasingly explore ways to integrate electric vehicles into the market, there’s a heightened need for advanced suspension technologies to accommodate the unique weight distribution and performance requirements of EVs.
The requirement for automotive suspension coil springs is also influenced by several trends, such as advancements in manufacturing technology, the shift towards electric mobility, and increasing demand for high-performance vehicles. Moreover, as the automotive industry continues to innovate with autonomous driving features, the role of suspension systems, including coil springs, is becoming even more critical for maintaining vehicle stability and comfort.
As the market continues to expand, suppliers of automotive suspension coil springs are expected to focus on meeting the unique needs of various vehicle segments, including the increasing demand for high-performance, lightweight, and durable components. The integration of advanced technologies and materials into coil spring production is helping meet these industrial demands and driving innovation in the European automotive sector.
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GKN
Sogefi Group
Mubea Fahrwerksfedern GmbH
Mitsubishi Steel
Tenneco (Federal-Mogul)
Lesjofors AB
NHK Spring
Kilen Springs
Hyperco
Betts Spring
Guilin Fuda Group
Jiangxi Lihuan Spring
Jiangsu Jinying Spring Manufacturing
Yutian Hengtong
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Automotive Suspension Coil Springs Market
Steel
Alloy
Composite
Passenger Vehicles
Commercial Vehicles
Motorcycles
Off-Highway Vehicles
Torsion Springs
Conventional Coil Springs
Progressive Coil Springs
Shock Absorbers
Suspension Systems
Steering Systems
Light Duty Vehicles
Heavy Duty Vehicles
Electric Vehicles
Luxury Vehicles
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe Automotive Suspension Coil Springs Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Automotive Suspension Coil Springs Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Automotive Suspension Coil Springs Market, By Type
6. Europe Automotive Suspension Coil Springs Market, By Application
7. Europe Automotive Suspension Coil Springs Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Automotive Suspension Coil Springs Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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