Analysis By Installation Type (Transversal and Longitudinal), Location Type (Front Leaf Spring and Rear Leaf Spring), Process Type (High-Pressure Resin Transfer Molding Process, Prepreg Layup Process, and Others), and Vehicle Type (Passenger Car, Light Commercial Vehicles, and Medium and Heavy-Duty Vehicles)
No. of Pages:98
Report Code:
TIPRE00027106
Category:
Automotive and Transportation
Middle East and Africa Automotive Composite Leaf Springs Market
The automotive composite leaf springs market in MEA is expected to grow from US$ 2.18 million in 2021 to US$ 3.24 million by 2028; it is estimated to grow at a CAGR of 5.8% from 2021 to 2028.
The automotive industry is preferably adopting technologies that contribute to the reduction of vehicle weight and improvement of vehicle fuel-efficiency. According to the article of Composites World, every reduction of 100 pounds of mass from the car increases the fuel efficiency by 2–3%. Thus, the composite leaf springs market is experiencing strong research and development activities from leading manufacturers, which is likely to create substantial growth opportunities for them during the forecasted period. In July 2021, Hexcel developed the HexPly M901, a high-Tg epoxy resin prepreg system suitable for harsh thermal and environmental conditions. Similarly, in December 2020, Fraunhofer ICT introduced new resin transfer molding (RTM) process-based thermoplastic composites suitable for automotive leaf spring manufacturing. These newly developed thermoplastic composite fibers are ~50% cheaper than epoxy resins. Further, developments made in composite leaf springs with a major focus on heavy-duty vehicles are likely to propel the market growth during the forecasted period. For instance, Kordsa, a supplier of composite materials technologies, has joined forces with Ford Otosan for developing a weight reduction technology for heavy trucks. The company has developed heavy-duty composite leaf spring materials that assist in the reduction of CO2 emissions, thereby contributing to improved fuel efficiency.
The automotive composite leaf spring market in the MEA is majorly affected by disruptions in the supply chain. Various containment measures enacted by governments, such as travel restrictions, factory shutdown, and lockdown, have hampered the supply and distribution of automobile components. The demand for automotive composite leaf springs has decreased since Q2 2020. The COVID-19 pandemic is anticipated to highly impact the MEA, as oil-based economies are already under pressure due to falling oil prices. In addition, factory and business shutdowns and travel bans are aggravating the economic problems in the MEA. Nevertheless, the economies would rapidly grow during the forecast period.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA automotive composite leaf springs market. The MEA automotive composite leaf springs market is expected to grow at a good CAGR during the forecast period.
MEA Automotive Composite Leaf SpringsMarket Revenue and Forecast to 2028 (US$ Million)
MEA Automotive Composite Leaf Springs Market Segmentation
MEA Automotive Composite Leaf Springs Market – By Installation Type
Transversal
Longitudinal
MEA Automotive Composite Leaf Springs Market – ByLocation Type
Front Leaf Spring
Rear Leaf Spring
MEA Automotive Composite Leaf Springs Market – By Process Type
High-Pressure Resin Transfer Molding Process
Prepreg Layup Process
Others
MEA Automotive Composite Leaf Springs Market – By Vehicle Type
Passenger Car
Light Commercial Vehicles
Medium and Heavy-Duty Vehicles
MEA Automotive Composite Leaf Springs Market, by Country
Saudi Arabia
South Africa
UAE
Rest or MEA
MEA Automotive Composite Leaf Springs Market - Companies Mentioned
FLEX-FORM
Hendrickson Holding LLC
KraussMaffei
SGL Carbon
Shandong Beiqi Haihua Automobile Parts Co., Ltd.
Middle East and Africa Automotive Composite Leaf Springs Market Strategic Insights
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Middle East and Africa Automotive Composite Leaf Springs Market Segmentation Analysis
Middle East and Africa Automotive Composite Leaf Springs Market Report Highlights
Middle East and Africa Automotive Composite Leaf Springs Report Scope
Report Attribute
Details
Market size in 2021
US$ 2.18 Million
Market Size by 2028
US$ 3.24 Million
CAGR (2021 - 2028)
5.8%
Historical Data
2019-2020
Forecast period
2022-2028
Segments Covered
By Installation Type
Transversal
Longitudinal
By Location Type
Front Leaf Spring
Rear Leaf Spring
By Process Type
High-Pressure Resin Transfer Molding Process
Prepreg Layup Process
By Vehicle Type
Passenger Car
Light Commercial Vehicles
Medium and Heavy-Duty Vehicles
Regions and Countries Covered
Middle East and Africa
South Africa
Saudi Arabia
UAE
Rest of Middle East and Africa
Market leaders and key company profiles
FLEX-FORM
Hendrickson Holding LLC
KraussMaffei
SGL Carbon
Shandong Beiqi Haihua Automobile Parts Co., Ltd.
Get more information on this report
Middle East and Africa Automotive Composite Leaf Springs Market Country and Regional Insights
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Identical Market Reports with other Region/Countries
The List of Companies - Middle East and Africa Automotive Composite Leaf Springs Market
FLEX-FORM
Hendrickson Holding LLC
KraussMaffei
SGL Carbon
Shandong Beiqi Haihua Automobile Parts Co., Ltd.
Frequently Asked Questions
How big is the Middle East and Africa Automotive Composite Leaf Springs Market?
The Middle East and Africa Automotive Composite Leaf Springs Market is valued at US$ 2.18 Million in 2021, it is projected to reach US$ 3.24 Million by 2028.
What is the CAGR for Middle East and Africa Automotive Composite Leaf Springs Market by (2021 - 2028)?
As per our report Middle East and Africa Automotive Composite Leaf Springs Market, the market size is valued at US$ 2.18 Million in 2021, projecting it to reach US$ 3.24 Million by 2028. This translates to a CAGR of approximately 5.8% during the forecast period.
What segments are covered in this report?
The Middle East and Africa Automotive Composite Leaf Springs Market report typically cover these key segments-
Installation Type (Transversal, Longitudinal)
Location Type (Front Leaf Spring, Rear Leaf Spring)
Process Type (High-Pressure Resin Transfer Molding Process, Prepreg Layup Process)
Vehicle Type (Passenger Car, Light Commercial Vehicles, Medium and Heavy-Duty Vehicles)
What is the historic period, base year, and forecast period taken for Middle East and Africa Automotive Composite Leaf Springs Market?
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa Automotive Composite Leaf Springs Market report:
Historic Period : 2019-2020
Base Year : 2021
Forecast Period : 2022-2028
Who are the major players in Middle East and Africa Automotive Composite Leaf Springs Market?
The Middle East and Africa Automotive Composite Leaf Springs Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
FLEX-FORM
Hendrickson Holding LLC
KraussMaffei
SGL Carbon
Shandong Beiqi Haihua Automobile Parts Co., Ltd.
Who should buy this report?
The Middle East and Africa Automotive Composite Leaf Springs Market report is valuable for diverse stakeholders, including:
Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.
Essentially, anyone involved in or considering involvement in the Middle East and Africa Automotive Composite Leaf Springs Market value chain can benefit from the information contained in a comprehensive market report.
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