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(Transportation-News.com, February 22, 2019 )
As per the latest market intelligence report published by Stratview Research, the Automotive Leaf Spring Aftermarket is anticipated to reach at US$ 1,998.8 million by 2024.
The research studies Automotive Leaf Spring Aftermarket in the trend period of 2013 to 2018 and forecasted period of 2019 to 2024 under Four segments by Vehicle Type (Passenger Car, LCV, M&HCV, and Others), by Spring Type (Parabolic Leaf Spring and Multi-Leaf Spring), by Location Type (Front Suspension and Rear Suspension), and by Region (North America, Europe, Asia-Pacific, and Rest of World) Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024
The study finds –
• Asia-Pacific is expected to remain the largest leaf spring aftermarket with an impressive CAGR during the forecast period. An increased vehicle production and growing fleet size would drive the demand for leaf springs in the region over the next five years.
• Multi-leaf spring is expected to remain the dominant spring type in the aftermarket during the forecast period
• M&HCV is expected to remain the growth engine of the aftermarket during the forecast period owing to a higher penetration of leaf springs in the segment.
Click here to read the detailed description: https://www.stratviewresearch.com/454/automotive-leaf-spring-aftermarket.html
Go through the TOC: https://www.stratviewresearch.com/toc/454/automotive-leaf-spring-aftermarket.html
Automotive Leaf Spring Aftermarket: Highlights
Leaf spring is one of the oldest suspension components and is still being preferred in most of the LCVs and MHCVs. The automotive industry has witnessed a remarkable transition in the leaf spring technology, material, style, design, etc. over a period of time. There are countless styles of leaf-spring suspension available worldwide featuring different mounting points, shapes, and sizes. Leaf spring has to be replaced frequently, generally in 9-12 months, due to the damages like sag, break, and crack, caused by several factors including uneven road and excess load on the vehicle.
The global automotive leaf spring aftermarket is likely to witness a healthy growth rate over the next five years to reach an estimated value of US$ 1,998.8 million in 2024. Increasing automotive fleet size is the key driver of the leaf spring aftermarket demand. Organic growth in automobile production owing to increasing disposable income and growing urbanization, is also imprinting a positive impact on the future demand for leaf springs in the aftermarket segment.
About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
Stratview Research
Ritesh Gandecha
+1-313-307-4176
sales@stratviewresearch.com
Source: EmailWire.Com 
Source: EmailWire.com
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