Middle East and Africa Automotive Composite Leaf Springs Market Forecast to 2028 - COVID-19 Impact and Regional 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)
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 Springs Market Revenue and Forecast to 2028 (US$ Million)
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MEA Automotive Composite Leaf Springs Market Segmentation
MEA Automotive Composite Leaf Springs Market – By Installation Type
- Transversal
- Longitudinal
MEA Automotive Composite Leaf Springs Market – By Location 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.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. MEA Automotive Composite Leaf Springs Market Landscape
4.1 Market Overview
4.2 MEA PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. MEA Automotive Composite Leaf Springs Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 High Demand for Composite Materials From Automotive Industry
5.1.2 MEA Witnessing Highest Ever-Increasing Sales of SUVs and Trucks
5.2 Market Restraints
5.2.1 Strong Hold of Steel Leaf Springs in Automotive Industry
5.3 Market Opportunities
5.3.1 Rising Developments in Composite Materials
5.4 Future Trends
5.4.1 Electric Vehicles Demanding Use of Composite Materials
5.5 Impact Analysis of Drivers and Restraints
6. Automotive Composite Leaf Springs Market – MEA Analysis
6.1 MEA Automotive Composite Leaf Springs Market Overview
6.2 MEA Automotive Composite Leaf Springs Market – Revenue and Forecast To 2028 (Us$ Million)
7. MEA Automotive Composite Leaf Springs Market – By Installation Type
7.1 Overview
7.2 MEA Automotive Composite Leaf Springs Market, By Installation Type (2020 And 2028)
7.3 Transversal
7.3.1 Overview
7.3.2 Transversal: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Longitudinal
7.4.1 Overview
7.4.2 Longitudinal: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
8. MEA Automotive Composite Leaf Springs Market – By Process Type
8.1 Overview
8.2 MEA Automotive Composite Leaf Springs Market, By Process Type (2020 And 2028)
8.3 High-Pressure Resin Transfer Molding Process
8.3.1 Overview
8.3.2 High-Pressure Resin Transfer Molding Process: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Prepreg Layup Process
8.4.1 Overview
8.4.2 Prepreg Layup Process: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
9. MEA Automotive Composite Leaf Springs Market – By Location Type
9.1 Overview
9.2 MEA Automotive Composite Leaf Springs Market Revenue Share, by Location Type (2020 and 2028)
9.3 Front Leaf Spring
9.3.1 Overview
9.3.2 Front Leaf Spring: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Rear Leaf Spring
9.4.1 Overview
9.4.2 Rear Leaf Spring: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
10. MEA Automotive Composite Leaf Springs Market Analysis – By Vehicle Type
10.1 Overview
10.2 MEA automotive Composite Leaf Springs Market Revenue Share, by Vehicle Type (2020 and 2028)
10.3 Passenger Car
10.3.1 Overview
10.3.2 Passenger Car: Automotive Composite Leaf Springs Market– Revenue and Forecast to 2028 (US$ Million)
10.4 Light Commercial Vehicle
10.4.1 Overview
10.4.2 Light Commercial Vehicle: Automotive Composite Leaf Springs Market– Revenue and Forecast to 2028 (US$ Million)
10.5 Medium and Heavy Duty Vehicles
10.5.1 Overview
10.5.2 Medium and Heavy Duty Vehicles: Automotive Composite Leaf Springs Market– Revenue and Forecast to 2028 (US$ Million)
11. MEA Automotive Composite Leaf Springs Market –Country Analysis
11.1 Overview
11.1.1 MEA: Automotive Composite Leaf Springs Market- By Key Country
11.1.1.1 South Africa: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 South Africa: Automotive Composite Leaf Springs Market- By Installation type
11.1.1.1.2 South Africa: Automotive Composite Leaf Springs Market- By Location type
11.1.1.1.3 South Africa: Automotive Composite Leaf Springs Market- By Process type
11.1.1.1.4 South Africa: Automotive Composite Leaf Springs Market- By Vehicle Type
11.1.1.2 Saudi Arabia: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 Saudi Arabia: Automotive Composite Leaf Springs Market- By Installation type
11.1.1.2.2 Saudi Arabia: Automotive Composite Leaf Springs Market- By Location type
11.1.1.2.3 Saudi Arabia: Automotive Composite Leaf Springs Market- By Process type
11.1.1.2.4 Saudi Arabia: Automotive Composite Leaf Springs Market- By Vehicle Type
11.1.1.3 UAE: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 UAE: Automotive Composite Leaf Springs Market- By Installation type
11.1.1.3.2 UAE: Automotive Composite Leaf Springs Market- By Location type
11.1.1.3.3 UAE: Automotive Composite Leaf Springs Market- By Process type
11.1.1.3.4 UAE: Automotive Composite Leaf Springs Market- By Vehicle Type
11.1.1.4 Rest of MEA: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.4.1 Rest of MEA: Automotive Composite Leaf Springs Market- By Installation type
11.1.1.4.2 Rest of MEA: Automotive Composite Leaf Springs Market- By Location type
11.1.1.4.3 Rest of MEA: Automotive Composite Leaf Springs Market- By Process type
11.1.1.4.4 Rest of MEA: Automotive Composite Leaf Springs Market- By Vehicle Type
12. Impact Of COVID-19 Pandemic on MEA Automotive Composite Lead Springs Market
12.1.1 MEA: Impact Assessment of COVID-19 Pandemic
13. Automotive Composite Leaf Springs Market-Industry Landscape
13.1 Overview
13.2 Market Initiative
14. Company Profiles
14.1 Hendrickson Holding LLC
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 FLEX-FORM.
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 KraussMaffei
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 SGL Carbon
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Shandong Beiqi Haihua Automobile Parts Co., Ltd
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
LIST OF TABLES
Table 1. MEA Automotive composite leaf springs Market – Revenue, and Forecast to 2028 (US$ Million)
Table 2. MEA: Automotive Composite Leaf Springs Market- By Key Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. South Africa: Automotive Composite Leaf Springs Market- By Installation type –Revenue and Forecast to 2028 (US$ Million)
Table 4. South Africa: Automotive Composite Leaf Springs Market- By Location type –Revenue and Forecast to 2028 (US$ Million)
Table 5. South Africa: Automotive Composite Leaf Springs Market- By Process type –Revenue and Forecast to 2028 (US$ Million)
Table 6. South Africa: Automotive Composite Leaf Springs Market- By Vehicle Type –Revenue and Forecast to 2028 (US$ Million)
Table 7. Saudi Arabia: Automotive Composite Leaf Springs Market- By Installation type –Revenue and Forecast to 2028 (US$ Million)
Table 8. Saudi Arabia: Automotive Composite Leaf Springs Market- By Location type –Revenue and Forecast to 2028 (US$ Million)
Table 9. Saudi Arabia: Automotive Composite Leaf Springs Market- By Process type –Revenue and Forecast to 2028 (US$ Million)
Table 10. Saudi Arabia: Automotive Composite Leaf Springs Market- By Vehicle Type –Revenue and Forecast to 2028 (US$ Million)
Table 11. UAE: Automotive Composite Leaf Springs Market- By Installation type –Revenue and Forecast to 2028 (US$ Million)
Table 12. UAE: Automotive Composite Leaf Springs Market- By Location type –Revenue and Forecast to 2028 (US$ Million)
Table 13. UAE: Automotive Composite Leaf Springs Market- By Process type –Revenue and Forecast to 2028 (US$ Million)
Table 14. UAE: Automotive Composite Leaf Springs Market- By Vehicle Type –Revenue and Forecast to 2028 (US$ Million)
Table 15. Rest of MEA: Automotive Composite Leaf Springs Market- By Installation type –Revenue and Forecast to 2028 (US$ Million)
Table 16. Rest of MEA: Automotive Composite Leaf Springs Market- By Location type –Revenue and Forecast to 2028 (US$ Million)
Table 17. Rest of MEA: Automotive Composite Leaf Springs Market- By Process type –Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of MEA: Automotive Composite Leaf Springs Market- By Vehicle Type –Revenue and Forecast to 2028 (US$ Million)
Table 19. List of Abbreviation
LIST OF FIGURES
Figure 1. MEA Automotive Composite Leaf Springs Market Segmentation
Figure 2. MEA Automotive Composite Leaf Springs Market Segmentation – by Country
Figure 3. MEA Automotive Composite Leaf Springs Market Overview
Figure 4. MEA Automotive Composite Leaf Springs Market, by Installation Type
Figure 5. MEA Automotive Composite Leaf Springs Market, by Location Type
Figure 6. MEA Automotive Composite Leaf Springs Market, by Process Type
Figure 7. MEA Automotive Composite Leaf Springs Market, by Vehicle Type
Figure 8. MEA Automotive Composite Leaf Springs Market, by Country
Figure 9. MEA – PEST Analysis
Figure 10. MEA Automotive Composite Leaf Springs Market– Ecosystem Analysis
Figure 11. Expert Opinions
Figure 12. MEA Automotive Composite Leaf Springs Market: Impact Analysis of Drivers and Restraints
Figure 13. MEA Automotive composite leaf springs Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. MEA Automotive Composite Leaf Springs Market Revenue Share, by Installation Type (2020 and 2028)
Figure 15. MEA Transversal: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. MEA Longitudinal: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. MEA Automotive Composite Leaf Springs Market Revenue Share, by PROCESS Type (2020 and 2028)
Figure 18. MEA High-pressure resin transfer molding Process: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. MEA Prepreg Layup Process: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. MEA Others: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. MEA Automotive Composite Leaf Springs Market Revenue Share, by Location Type (2020 and 2028)
Figure 22. MEA Front Leaf Spring: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. MEA Rear Leaf Spring: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. MEA Automotive Composite Leaf Springs Market Revenue Share, by Vehicle Type (2020 and 2028)
Figure 25. MEA Passenger Car: Automotive Composite Leaf Springs Market– Revenue and Forecast to 2028 (US$ Million)
Figure 26. MEA Light Commercial Vehicle: Automotive Composite Leaf Springs Market– Revenue and Forecast to 2028 (US$ Million)
Figure 27. MEA Medium and Heavy Duty Vehicles: Automotive Composite Leaf Springs Market– Revenue and Forecast to 2028 (US$ Million)
Figure 28. MEA: Automotive Composite Leaf Springs Market, by Key Country – Revenue (2020) (US$ Million)
Figure 29. MEA: Automotive composite leaf springs Market Revenue Share, By Key Country (2020 and 2028)
Figure 30. South Africa: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Saudi Arabia: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. UAE: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Rest of MEA: Automotive Composite Leaf Springs Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Impact of COVID-19 Pandemic in MEA Country Markets
- FLEX-FORM
- Hendrickson Holding LLC
- KraussMaffei
- SGL Carbon
- Shandong Beiqi Haihua Automobile Parts Co., Ltd.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the MEA automotive composite leaf springs market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the MEA automotive composite leaf springs market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the automotive composite leaf springs market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution