European Leaf Spring Market Worth USD 471.7 Million by 2021 – Linked to Increased Commercial Vehicle Production – Research and Markets
By Business Wire News
By Business Wire News
Research and Markets has announced the addition of the “European Leaf Spring Market By Vehicle Type, Material and Country – Trends and Forecast to 2021 “ report to their offering.
The European leaf spring market is projected to reach USD 471.7 million by 2021, growing at a CAGR of 3.63% from 2016 to 2021.
The OEM demand for leaf springs is directly linked to commercial vehicle production, and increased production has spurred the demand for leaf springs in the region. Commercial vehicle production increased by 9% in 2015 compared to the previous year. This indicates promising growth potential, as several countries in the region are still recovering from the economic crisis of 2008. Germany is estimated to be the largest market for leaf springs in the region, followed by Turkey and Italy.
Higher production is estimated to be the main driver for the growth of leaf spring market in LCV segment. The leaf spring market in LCV segment is projected to grow at the nominal CAGR of 3.07% during the review period. Furthermore, growing environmental and health concerns have compelled automakers to decrease vehicle weight in order to reduce harmful emissions and increase fuel economy.
Substantial research has therefore been conducted to decrease the weight of the leaf spring suspension system. Newer materials, such as GFRP, which are lighter and perform as well as steel, have been developed for leaf springs. However, their application is limited, owing to high cost.
- Frauenthal Holding Ag
- Hendrickson International Corporation
- Mubea Fahrwerkstechnologien Gmbh
- Olguncelik A.S.
- Sogefi Group
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Market Dynamics
5 Technology Overview
6 European Leaf Spring Market, By Country
7 European Leaf Spring Market, By Material Type
8 Company Profiles
For more information visit http://www.researchandmarkets.com/research/bh59dj/european_leaf
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