Dublin, March 25, 2022 (GLOBE NEWSWIRE) -- The "Automotive Composite Leaf Springs Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Installation Type (Transversal and Longitudinal), Location Type, Process Type (High-Pressure Resin Transfer Molding Process, Prepreg Layup Process, and Others), and Vehicle Type" report has been added to ResearchAndMarkets.com's offering.
The global automotive composite leaf springs market is expected to grow from US$ 71.56 million in 2021 to US$ 115.24 million by 2028; it is estimated to grow at a CAGR of 7.0% during 2021-2028.
Leaf springs, a vital component of the suspension system of a vehicle, consists of several layers of leaves with graded sizes, the bigger layer being on the top of inter-joined leaves. These layers are attached directly to the frame, either at both ends or one end.
Notably, composites are ideal for leaf spring applications owing to the high strength-to-weight ratio, natural frequency, and fatigue resistance. The composite material has the advantage of internal damping, leading to better vibration energy absorption, thereby reducing the transmission of vibration noise to adjoining structures.
Additionally, the drastic reduction in mass offers a considerable advantage in designing and developing automobiles. The material is more durable than conventional steel spring, which provides strength to the suspension system. Implementation of flexible composite materials and high fatigue tolerance considerably enhance the life of lead spring.
For instance, the collaboration of Henkel with Benteler-SGL to commercialize mass production of a lightweight, fiber-reinforced leaf spring using polyurethane-based HP-RTM process has reduced the weight of leaf spring by 65% compared to the conventional steel option. These lead springs also offer enhanced resistance to crack propagation which improves the toughness of the suspension.
Currently, vehicle manufacturers are highly focusing on the use of lightweight components to reduce the vehicle's weight for improved performance and fuel efficiency. The considerable reduction in weight by replacing conventional steel springs with thinner and compact composite springs has led to a substantial rise in the demand for composite materials.
Furthermore, the ongoing boom in SUVs and trucks sales worldwide has created an unprecedented need for composite spring leaves to improve vehicles' performance. For instance, China registered a 27% increase in year-on-year sales of SUVs.
Impact of COVID-19 Pandemic on Automotive Composite Leaf Springs Market
The automotive industry requires a significant number of human laborers. However, with the ongoing successful implementation of vaccination programs, the global automotive industry has started reopening its operations and the demand for automotive composite leaf springs is gradually rising. Thus, the overall declining trajectory in the automotive sector due to the COVID-19 pandemic is restraining the growth of the automotive composite leaf spring market.
On the other hand, in current scenario, composite leaf springs are getting deployed in the premium vehicles for better performance. The development of the composite leaf spring for medium and heavy-duty vehicles is also increasing, which would create a positive outlook for the automotive composite leaf springs market in the coming years.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Automotive Composite Leaf Springs Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Automotive Composite Leaf Springs Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Demand for Composite Materials in Automotive Industry
5.1.2 Ever-Increasing Sales of SUVs and Trucks Worldwide
5.2 Market Restraints
5.2.1 Strong Penetration of Steel Leaf Springs in Automotive Industry
5.3 Market Opportunities
5.3.1 Continuous Improvements in Composite Materials
5.4 Future Trends
5.4.1 Integration of Composite Materials in Electric Vehicles
5.5 Impact Analysis Of Drivers And Restraints
6. Automotive Composite Leaf Springs Market - Global Analysis
6.1 Automotive Composite Leaf Springs Market Global Overview
6.2 Automotive Composite Leaf Springs Market - Global Revenue And Forecast To 2028 (Us$ Million)
6.3 Market Share Analysis- Five Key Players (2020)
7. Automotive Composite Leaf Springs Market - By Installation Type
7.1 Overview
7.2 Automotive Composite Leaf Springs Market, By Installation Type (2020 And 2028)
7.3 Transversal
7.3.1 Overview
7.3.2 Transversal: Automotive Composite Leaf Springs Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Longitudinal
7.4.1 Overview
7.4.2 Longitudinal: Automotive Composite Leaf Springs Market - Revenue and Forecast to 2028 (US$ Million)
8. Automotive Composite Leaf Springs Market - By Process Type
8.1 Overview
8.2 Automotive Composite Leaf Springs Market, By Process Type (2020 And 2028)
8.3 High-Pressure Resin Transfer Molding Process
8.3.1 Overview
8.3.2 High-Pressure Resin Transfer Molding Process: Automotive Composite Leaf Springs Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Prepreg Layup Process
8.4.1 Overview
8.4.2 Prepreg Layup Process: Automotive Composite Leaf Springs Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Automotive Composite Leaf Springs Market - Revenue and Forecast to 2028 (US$ Million)
9. Automotive Composite Leaf Springs Market - By Location Type
9.1 Overview
9.2 Automotive Composite Leaf Springs Market, By Location Type (2020 And 2028)
9.3 Front Leaf Spring
9.3.1 Overview
9.3.2 Front Leaf Spring: Automotive Composite Leaf Springs Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Rear Leaf Spring
10. Automotive Composite Leaf Springs Market Analysis - By Vehicle Type
10.1 Overview
10.2 Automotive Composite Leaf Springs , By Vehicle Type (2020 And 2028)
10.3 Passenger Car
10.3.1 Overview
10.3.2 Passenger Car: Automotive Composite Leaf Springs Market- Revenue and Forecast to 2028 (US$ Million)
10.4 Light Commercial Vehicle
10.5 Medium And Heavy Duty Vehicles
11. Automotive Composite Leaf Springs Market - Geographic Analysis
11.1 Overview
12. Impact Of COVID-19 Pandemic
13. Automotive Composite Leaf Springs Market-Industry Landscape
13.1 Overview
13.2 Market Initiative
14. Company Profiles
- Hendrickson Holding LLC
- FLEX-FORM.
- KraussMaffei
- Muhr und Bender KG
- OlgunCelik San. Tic. A.S
- SGL Carbon
- Shandong Beiqi Haihua Automobile Parts Co., Ltd
- M.W. Industries, Inc
- ARC Suspension
- Heathcote Industrial Plastics
For more information about this report visit https://www.researchandmarkets.com/r/isgsu7
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