Front Leaf Spring Segment to Dominate Europe Automotive Composite Leaf Springs Market during 2020–2028      

According to a new market research study on “Europe Automotive Composite Leaf Springs Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Installation Type, Location Type, Process Type, and Vehicle Type” is expected to reach US$ 47.03 million by 2028 from 29.51 US$ million in 2021. The market is estimated to grow at a CAGR of 6.9 % from 2021 to 2028. The report provides trends prevailing in the Europe automotive composite leaf springs market along with the drivers and restraints pertaining to the market growth. Surging sales of SUVs and trucks in Europe is the major factor driving the growth of the Europe automotive composite leaf springs market. However, issues associated with steel leaf springs dominating in automotive industry hinders the growth of Europe automotive composite leaf springs market.  

The Europe automotive composite leaf spring market is segmented on the basis of vehicle type, installation type, process type, location type, and country. The market for the passenger cars segment is growing significantly, and the segment is anticipated to register the highest CAGR during the forecast period. By installation type, the market is bifurcated into transversal and longitudinal. In 2020, the transversal segment held a larger market share. In terms of process type, the Europe automotive composite leaf spring market is segmented into high-pressure resin transfer molding, prepreg layup, and others. In 2020, high-pressure resin transfer molding held the largest share in Europe automotive composite leaf spring market. Based on location, the market is bifurcated into front leaf spring and rear leaf spring. In 2020, rear leaf spring segment accounted for the largest share in Europe automotive composite leaf springs market. Based on country, the Europe automotive composite leaf springs market is segmented into France, Germany, Italy, UK, Russia, and rest of Europe. Germany held the largest market share in 2020.

The COVID-19 pandemic has disrupted the supply chains in various European countries, such as Italy, Spain, and Germany. These countries have implemented drastic measures and travel restrictions to limit the spread of novel coronavirus. They also represent a major share in the automotive composite leaf spring market, as Europe has the highest road safety standards in the world. However, disruptions in it’s the supply chain of its raw materials have significantly affected the deployment of automotive composite leaf springs. Moreover, the sales of various passenger cars and production of automobiles in European countries exhibited a sharp decline in 2020, and the enterprises would need time to stabilize their businesses. Furthermore, the recurrent imposition of containment measure owing to the spread of mutated strains of COVID-19 further hampers the market growth in Europe.

ARC Suspension; FLEX-FORM.; Heathcote Industrial Plastics; Hendrickson Holding LLC; KraussMaffei; M.W. Industries, Inc.; Muhr und Bender KG; OlgunCelik San. Tic. A.S; SGL Carbon; and Shandong Beiqi Haihua Automobile Parts Co., Ltd are among the leading companies in the Europe automotive composite leaf springs market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, KraussMaffei has received three awards the Red Dot Design Award, 2nd place in the Industry of Things World Award 2021, and 5th position in the Champions of Digital Transformation benchmarking study for 2021. All three honour remarkable accomplishments in digital services and mechanical engineering.   

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