Imagine how an aircraft landing would be made possible without springs. From consumer products to heavy industrial equipment, springs have found various applications owing to their ability of storing and releasing mechanical energy. As a result, the global spring market is expected to thrive at a CAGR of around 5 per cent till 2027.
The increasing demand for springs across various end-use verticals such as automotive, manufacturing, agriculture, and forestry will drive the market over the forecast period. Manufacturing of springs from light weight and high strength metals and alloys to reduce weight and to increase the strength has also increased the application of springs in aircraft, satellite, and automobile manufacturing.
As a large number of springs are used in automotive and aircraft, reduction in the weight of springs decreases the overall weight of the structure and increases the structure’s load carrying capacity. Increase in demand for light commercial vehicles and the need for vehicle comfort and safety are the major drivers of the global automotive leaf spring market going forward.
Moreover, the growth in the adoption of lightweight components to reduce vehicle weight is expected to increase the demand for composite automotive leaf springs in the near future. The presence of a large number of domestic and international participants in this market has made the market highly competitive. Buoyed by the rising demand, spring manufacturers are adopting state-of-the-art technologies to produce light weight and high strength springs.
After studying this industry segment in-depth, we have come up with the list of Top 10 Spring Manufacturers who have excelled in this field with their innovative approach. Having proven their dedication to quality and delivery in order to meet the customer expectations in an end-to-end manner, these companies have stood out from the crowd.
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