Europe Automotive Leaf Spring Suspension Market Size, Share & COVID-19 Impact Analysis, By Type (Mono Leaf Spring and Multi-Leaf Spring), By Vehicle Type (LCV and HCV), and Country Forecast, 2022-2029

The Europe automotive leaf spring suspension market size was valued at USD 826.7 million in 2021. The market is projected to grow from USD 874.8 million in 2022 to USD 1,272.8 million by 2029, exhibiting a CAGR of 5.5% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with automotive leaf spring suspension experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, this market exhibited a decline of 14.1% in 2020 as compared to 2019.

Automotive leaf spring suspension is a popular suspension choice among commercial vehicle manufacturers. It is utilized in both passenger andcommercial vehicleswhere high load carrying capacity is required. Some vehicles equipped with automotive leaf spring suspension include trucks, vans, SUVs, and others. The suspension consists of a stack of highly curved narrow steel plates that absorbs impact from road bumps or uneven road surfaces.

The simple design and low cost of the automotive leaf spring suspension drive the adoption in a diverse range of vehicles. In addition, their ability to withstand large-loads further fuels their adoption in nearly all heavy-duty vehicles worldwide. Therefore, the growing demand for commercial and heavy-duty vehicles is a prominent driving factor in increasing product adoption.

COVID-19 IMPACT

Halt in Transportation and Logistics Activities to Hamper the Product Demand

减少运输和物流活性ities and European automotive production downturn due to closed manufacturing facilities and disrupted supply chain during the COVID-19 have significantly impacted the region's demand for automotive leaf spring suspension. For instance, according to the OICA, European automotive production, which accounts for nearly 22% share of the automotive output worldwide, registered roughly 21% decline during the pandemic. However, the market is recovering from the impact of COVID-19 with the removal and loosening of the restrictions on transportation, logistics, and travel-related activities.

LATEST TRENDS

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Development and Adoption of Composite Leaf Springs to Drive Market Growth

The increasing development and adoption of composite leaf springs for lower vehicle weight and efficient performance is an ongoing trend in the market. The utilization of composite materials forautomotive leaf spring suspensionreduces the leaf spring weight by 75% compared to conventional steel leaf springs. This provides the vehicle with more fuel efficiency and comfort. Additionally, composite material's more strain energy absorbing capacity makes it a highly preferred material for the leaf springs. Therefore, increasing demand for composite leaf springs for commercial vehicles is likely to boost the market growth during the forecast period.

DRIVING FACTORS

Increasing Demand for Commercial Vehicles to Drive the Market Growth

Increasing commercial vehicle sales across the globe and the rapidly growing European automotive sector are likely to boost the market growth in the near future. In addition, economic growth, industrial & logistics activities, and OEM’s focus on increasing the production of heavy-duty vehicles to cater to their increasing demand in commercial businesses are likely to fuel the market growth in the coming years.

Stringent Emission Norms for Commercial Vehicles to Drive the Market Growth

The government-enforced stringent emission norms in Europe influence manufacturers to adopt composite leaf springs for fuel-efficient commercial vehicles. Government policies in China and Europe promoting the scrapping of internal combustion engine-based trucks with trucks that comply with new emission standards created a huge demand for heavy trucks.

Increasing Preference for SUVs and Pickup Trucks to Propel the Market Growth

Increasing adoption and preference for SUVs andpickup trucksamong the populace across developed economies for high performance and load-carrying capacity is likely to drive the Europe automotive leaf spring suspension market growth in years to come. Moreover, other advantages, such as uniform weight distribution, simple design, superior hauling power, and high load-bearing capacity, compared to coil spring suspension are some of the crucial factors that are expected to drive the adoption of automotive leaf spring suspension across a wide range of LCVs and HCVs during the forecast period.

RESTRAINING FACTORS

Adoption of Air Suspension as an Alternative May Restrain the Market Growth

The growing adoption of air suspension as an alternative for the automotive leaf spring suspension system is anticipated to restrain the market growth during the forecast period. Additionally, the low adoption of leaf springs in light-duty vehicles is also expected to hinder the market growth in years to come.

SEGMENTATION

By Type Analysis

High Rate of Adoption of Multi-Leaf Springs Worldwide to Drive Segment Growth

Based on type, the market is segmented into the mono leaf spring and multi-leaf spring.

The multi-leaf spring segment held the largest market share in 2021 and is likely to continue its dominance during the forecast period with the fastest CAGR. Multi-leaf springs are the most commonly used type of leaf springs. They are made of several arc-formed steel strips available in various sizes. Generally, multi-leaf springs support greater loads as compared to mono leaf springs. Therefore, the segment growth is driven by increasing adoption of multi-leaf springs in HCVs and LCVs for their superior load-carrying capacity.

Increasing production of heavy-duty commercial vehicles across the globe is likely to surge the demand for multi-leaf springs. Moreover, increasing the use of advanced materials, such ascompositematerials and others, for leaf spring production will further assist in reducing the vehicle's weight and improving efficiency. Therefore, the utilization of composite materials in multi-leaf springs for enhanced performance is likely to fuel their demand in the near future. The mono leaf spring segment is expected to witness a considerable growth rate, owing to its adoption in some light commercial vehicles.

By Vehicle Type Analysis

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Increasing Transportation & Logistics Activities in Commercial Businesses to Drive the Segment Growth

Based on vehicle type, the market is segmented into Light Commercial Vehicle (LCV) and Heavy Commercial Vehicle (HCV).

HCV was the leading segment with the largest market share in 2021 and is expected to continue its dominance in years to come. An increasing number of heavy transportation and logistics activities in commercial businesses worldwide is surging the demand for HCVs. Automotive leaf spring suspension is widespread among heavy-duty trucks and buses. Whereas, in the case of LCVs, both leaf spring and螺旋弹簧suspension are utilized based on the loading conditions. Therefore, high adoption of leaf springs in HCVs to support heavy loading operations is anticipated to drive the segment growth in the coming years.

COUNTRY INSIGHTS

基于国家,欧洲automotive leaf spring suspension market is categorized into the U.K., Germany, France, and the rest of Europe.

The rest of Europe includes Italy, Spain, Belgium, Russia, and others that dominated the market, accounting for USD 431.9 million in 2021. The market growth in the region is driven by increasing commercial vehicle sales and production in the area. For instance, according to the International Organization of Motor Vehicle Manufacturers (OICA), Spain witnessed 42% growth in heavy truck production in 2021. Similarly, Russia witnessed an increase of nearly 32% in heavy-duty truck production in 2021 compared to 2020.

The strong presence of the automotive industry in the region, coupled with the increasing demand for heavy commercial vehicles for commercial businesses and industrial applications, is expected to grow the market in the area.

英国预计将增长最快的恶性肿瘤h rate during the forecast period. The growth is attributed to the rising commercial vehicle production in the U.K. For instance, in January 2022, commercial vehicle production in the U.K. increased by 22.2% compared to the same month of the previous year despite the semiconductor shortage. According to the Society of Motor Manufacturers and Traders (SMMT), nearly 7,000 units of new commercial vehicles were built in the U.K. in January 2022.

KEY INDUSTRY PLAYERS

The Europe automotive leaf spring suspension market is fragmented, with several global and regional market players operating in this industry. It is observed that the key players have a diverse product portfolio with a high focus on geographic expansion.

Sogefi Group is One of the Leading Players in the Market

Sogefi Group offers superior product design and development experience to all automobile manufacturers and a continual commitment to innovation through its R&D facilities in France, Germany, and others. Sogefi develops, designs, and manufactures flexible suspension components, air & cooling systems, and filtration systems. Sogefi's 37 global production facilities in 18 countries provide a completely integrated process – from engineering to manufacture and assembly – ensuring high quality and improved product performance.

LIST OF KEY COMPANIES PROFILED:

• EATON Detroit Spring, Inc.(U.S.)


• Hendrickson Commercial Vehicle Systems Europe GmbH(Austria)


• NHK Spring Europe B.V. (Japan)


• Sogefi SpA(Italy)


• Anyang Dongfeng Leaf Spring Co., Ltd. (China)


• Olgun Celik A.S. (Turkey)


• HŽP a.s. (Czech Republic)


• Mitsubishi Steel Mfg. Co. Ltd(Japan)

KEY INDUSTRY DEVELOPMENTS:

• September 2021:Sogefi received a strategic order to supply the German premium carmaker with key component supplies such as filter and suspension units (leaf springs, coil springs, and others) for the next-generation full-electric (BEV) platform.


• June 2021:Hexion announced the partnership with Rassini for the application of composite leaf spring in the new Ford F-150 model.


• August 2020:Hendrickson acquired the Motor Wheel Brake Drum & Cruson Slack Adjuster business based in Chattanooga, Tennessee and Velia, Kentucky from STEMCO and its parent company, EnPro Industries. The business segment operates as the Hendrickson Truck Commercial Vehicle Systems Division. The motor wheel and Cruson name are retained and will be used as product names in the future.


• March 2020: Lion and Sogefi signed a contract to develop the light battery lion concept among the world's top auto manufacturers.


• Sogefi Group developed various products in the filtration business unit. Furthermore, Sogefi continuously focuses on developing new products for suspension units.


• January 2021:Hendrickson卡车annou商用车辆系统nced that it partnered with Navistar to offer HAULMAAX EX as part of its enhancements to the International HX chassis.

REPORT COVERAGE

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The report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading vehicle types. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition, the report encompasses several factors that have contributed to the market's growth in recent years.

Report Scope & Segmentation

ATTRIBUTE	DETAILS
Study Period	2018-2029
Base Year	2021
Estimated Year	2022
Forecast Period	2022-2029
Historical Period	2018-2020
Unit	Value (USD Million)
By Type	Mono Leaf Springs Multi Leaf Springs
By Vehicle Type	LCV HCV
By Geography	Europe (By Type and Vehicle Type) U.K. Germany France Rest of Europe