Europe Leaf Spring Market to Post 3.63% CAGR through 2021, MicroMarketMonitor in Its New Report Published at MarketPublishers.com
14 Jun 2016 • by Natalie Aster
LONDON – Europe’s leaf spring market is projected to gain momentum, recording a projected a 3.63% CAGR up to 2021. The leaf spring suspension system is one of the oldest and simplest suspension technologies exploited in motor cars.
The demand for leaf springs from OEMs is directly related to the manufacturing of commercial motor vehicles, and an increase in production has raised leaf springs demand across the region. Commercial motor vehicle production grew by 9% in 2015 YoY. This testifies to promising growth potential, as a number of nations in Europe are still gaining strength after the economic crisis of 2008. Germany will likely be the leading leaf springs market in the region, with Turkey and Italy following after.
The leaf spring market in the LCV segment is set to grow at 3.07% CAGR over the projected period, driven mainly by a hike in production. Additionally, growing health and environmental concerns have forced automakers to reduce vehicle weight with a view to lessening harmful emissions and increasing economy of fuel.
New cutting-edge research report “European Leaf Spring Market. By Vehicle Type, Material and Country– Trends and Forecast to 2021” developed by MicroMarketMonitor includes an in-depth analysis of the leaf spring market on a regional scale. It offers comprehensive market segmentation based on vehicle type, material, and by country. The study identifies and explores key market drivers, restraints, opportunities and challenges. It gives details on the technology covering recent industry developments, analysis of the manufacturing process, etc. The report profiles top players and comprehensively analyses their primary fields of expertise alongside giving a detailed technological overview of leaf springs based on their cost, material, weight, size, and production process. Furthermore, a granular forecast of the region’s leaf spring market development over the next 6 years is at hand in the publication.
The leading companies discussed include: Frauenthal Holding AG, Olguncelik A.S., Hendrickson International Corporation, Sogefi Group, and Mubea Fahrwerkstechnologien Gmbh.
More new reports by MicroMarketMonitor can be found at the publisher’s page.