Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 14.52 Billion | USD 22.55 Billion | 4.50% | 2024 |
FrequentlyAsked Questions
Automotive coil springs are helical-shaped mechanical devices that absorb and store energy, providing suspension support by compressing and expanding to absorb road shocks and keep the vehicle stable and comfortable.
The automotive coil spring market is expected to be driven by increasing vehicle production volumes, growing consumer demand for improved ride quality and handling, technological advancements in materials and manufacturing processes, the rise of electric vehicles requiring specialized suspension components, and expanding aftermarket replacement needs.
According to our study, the global automotive coil spring market was worth around USD 14.52 billion in 2024 and is predicted to grow to around USD 22.55 billion by 2034.
The CAGR value of the automotive coil spring market is expected to be around 4.50% during 2025-2034.
The global automotive coil spring market will register the highest growth in Asia Pacific during the forecast period.
Key players in the automotive coil spring market include Sogefi SpA, NHK Spring Co. Ltd., Mubea, Tenneco Inc. (Monroe), ThyssenKrupp AG, Continental AG, Mitsubishi Steel Manufacturing Co., Ltd., Lesjöfors AB, Hyperco (MW Industries), Kilen Springs, Betts Spring Manufacturing, Jamna Auto Industries, Draco Spring Manufacturing Company, Hendrickson International, Firestone Industrial Products Company, LLC, EMCO Industries, Duer/Carolina Coil, Inc., Clifford Springs Ltd., Alco Spring Industries Inc., and Advanced Suspensions Ltd.
The report comprehensively analyzes the automotive coil spring market, including an in-depth discussion of market drivers, restraints, emerging trends, regional dynamics, and future growth opportunities. It also examines competitive dynamics, material innovations, manufacturing process developments, and the evolving vehicle platform requirements shaping the automotive suspension component industry ecosystem.
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