Global Composite Springs Market Anticipated to Reach $70 Million in 2021, Composite Leaf Springs to Experience the Fastest Growth of 9.3% CAGR Over the Next Five Years, as per a New Report From Stratview Research

DETROIT, October 12, 2016 /PRNewswire/ --

Stratview Research  announces the addition of a new research report on Global Composite Springs Market Spring Type (Leaf Spring, Coil Spring, Chair Spring, and Industrial Spring), by End Use Industry Type (Transportation, Furniture, and Industrial), by Manufacturing Process (Compression Molding, Prepreg Layup, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2016 - 2021

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This market report, from Stratview Research, studies the global composite springs market over the period 2010 to 2021. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The Global Composite Springs Market in the Automotive Industry: Highlights 

As per Stratview Research, the global composite springs market offers an excellent growth of 8.5% CAGR during the forecast period of 2016 to 2021 and reach $70 million in 2021, which offers an opportunity to the industry players to align themselves with the market growth.

There are a number of factors bolstering the growth of composite springs in the end-user industries such as automotive, food and furniture. The author of the report cited increasing demand of lightweight components in the automotive industry and increasing penetration of composite springs in the furniture and food industry owing to the advantages of high deflection rate and excellent fatigue & stress resistance as the major growth drivers of the market.  

Composite leaf spring is expected to remain the largest composite spring type during the forecast period, and is likely to witness the fastest growth of 9.3% CAGR during the same period. Composite leaf spring offers an excellent strength to weight ratio, fatigue resistance and natural frequency, and is about five times more durable than a steel leaf spring. Internal damping in composite materials lead to excellent absorption of vibrations within the parts, resulting in reduced transmission of vibration noise to the neighboring structures.

According to the study, automotive & transportation industry is expected to remain the largest user of composite springs during the forecast period. The industry is also expected to experience the fastest growth during the same period. Increasing demand of lightweight parts, including composite leaf springs and coil springs to achieve stringent government regulations, such as CAFÉ standards, is the prime driver of the market segment. Furniture and industrial segments are also likely to grow at a healthy growth rate over the next five years.

The research report suggests that compression molding is expected to remain the most dominant manufacturing process in the global composite springs market during the forecast period. High Pressure-Resin Transfer Molding (HP-RTM) is likely to experience the fastest growth for the same period, driven by short parts cycle time.

In terms of region, Europe is expected to remain the largest market for composite springs in the next five years, driven by increasing use of composite leaf springs in the light commercial vehicles. Asia-Pacific is a relatively small composite springs market but is expected to experience the fastest growth for the same period.

The global composite springs market is a highly consolidated with about a dozen players populated worldwide. The key composite spring manufacturers are Liteflex LLC, IFC Composite, Gordon Composites, Composiflex, and Benteler-SGL. New product development, capacity expansion and process optimization are the key strategies adopted by the key players to gain competitive edge in the market.

Report Features 

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

This report studies composite leaf springs market and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. The following are the four ways in which the market is segmented:

The Composite Springs Market is segmented into the following categories

Global Composite Springs Market by Spring Type: 

• Leaf Springs (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Coil Springs (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Chair Springs (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Industrial Springs (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Global Composite Springs Market by End Use Industry Type: 

• Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Furniture (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Industrial (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Global Composite Springs Market by Manufacturing Process Type: 

• Prepreg Lay-up Process (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Compression Molding Process (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
• Other Processes (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Global Composite Springs Market by Region: 

• North America (Country Analysis: US, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, United Kingdom, Italy, and Rest of the Europe)
• Asia - Pacific (Country Analysis: China, Japan, South Korea, India, and Rest of the Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Middle East, and Others)

Stratview Research has a number of high value market reports in the global automotive industry. Please refer to the following link to browse through our reports:  

Click Here for Other Reports from Stratview Research in the Advanced Materials Industry

Some of our other related premium market reports are: 

Global Automotive Leaf Springs Market by Vehicle Type, by Spring Type, by Material Type, by Manufacturing Process, by Location, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2016-2021

• Global Automotive Leaf Springs Market likely to reach $12.8 billion in 2021, estimated to grow at CAGR 4.5% during 2016 to 2021.
• Increasing production of light commercial vehicles and medium & heavy duty commercial vehicles, and high demand from the growing fleet size are major growth drivers of leaf springs market during the forecast period.

Global Composite Leaf Springs Market by Vehicle Type, by Installation Type, by Location Type, by Manufacturing Process, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2016 - 2021

• Global Composite Leaf Springs Market is likely to grow at 9.3% CAGR during the forecast period of 2016 to 2021 and reach $65 million in 2021.  
• Increasing demand of lightweight leaf springs to achieve stringent government regulations of many countries, such as CAFÉ Standards, would be the major growth driver of composite leaf springs in the automotive industry during the forecast period. 

About Stratview Research:  

Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.

Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.  

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