Passenger Cars Segment to Dominate SAM Automotive Composite Leaf Springs Market during 2020–2028      

According to a new market research study on “SAM 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$ 1.15 million by 2028 from 0.84 US$ million in 2021. The market is estimated to grow at a CAGR of 4.6% from 2021 to 2028. The report provides trends prevailing in the SAM automotive composite leaf springs market along with the drivers and restraints pertaining to the market growth. Rising integration in composite materials in electric vehicles is the major factor driving the growth of the SAM automotive composite leaf springs market. However, issues associated with strong market hold of steel leaf springs in automotive industry hinders the growth of SAM automotive composite leaf springs market.  

The SAM 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 SAM 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 SAM 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 SAM automotive composite leaf springs market. Based on country, the SAM automotive composite leaf springs market is segmented into Brazil Argentina, and rest of SAM. Brazil held the largest market share in 2020.

Governments of countries in SAM have taken significant actions to protect their citizens against the spread of novel coronavirus that causes COVID-19. The automotive composite leaf springs market in SAM is anticipated to face a steep decline, as numerous stimulus packages deployed by governments were focused on public healthcare and tax relief. In addition, the online and retail distribution channels faced challenges due to disruptions in supply chains and the unavailability of raw materials. The sharp decline in business activities and product sales is expected to directly impact the sales of passenger and commercial vehicles, which negatively affects the demand for automotive composite leaf springs in this region. 

FLEX-FORM; Hendrickson Holding LLC; KraussMaffei; Muhr und Bender KG; SGL Carbon; and Shandong Beiqi Haihua Automobile Parts Co., Ltd are among the leading companies in the SAM 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

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