Worldwide Metal Spring Industry to 2029 - Increasing use of Customized Material as a Promotional Tool is Driving Growth

DUBLIN, Aug. 11, 2021 /PRNewswire/ -- The "Metal Spring Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering.

The global metal spring market is expected to grow at a CAGR of 5.5 %. Springs are mechanical devices that can store potential energy because of their property of elasticity.

The metal spring market in 2029 is expected to reach about US$ 25 billion. Significant rise in the demand, adoption of technology, and introduction of new and customized products has accelerated the market growth. There is no alternative solution for the spring in various devices hence it proves to be the key driver for the market growth. The application in various sectors such as automobile, construction, medical, government, aerospace, agriculture, and other industrial sectors has led to high volume market revenues. The use of various alloys enables efficient functioning. The metal spring market is expected to grow with the increasing demand for automation.

Wide Range of Applications Ensure the Market Growth

There is significant growth in various sectors such as manufacturing and processing, automobile industry, agricultural instruments, constructions vehicles and devices, automotive sector, and others. The industrial sectors accounted for the largest share. Springs can be classified as fabricated products, light gauge, and heavy gauge. Spring products are found in various forms such as micro, compression, extension, torsion they are used in heavy machinery and equipment. Springs are also classified based on their size as per application and demand.

Asia Pacific is emerging

The countries such as China, Korea and India are emerging in automation across various sectors. North America and Europe are dominating other regions in the metal sector as well as metal spring market. The metal market is booming as result of industrialization and technology advancement. The metal sector has a consistent growth in the market across various regions as a parent industry and consequently the metal spring market is also growing. Innovation in alloy ensures application in new sectors and devices.

Pandemic effect on the market

The pandemic had negative impact on the economy worldwide. The government restrictions on manufacturing and transport also affected the metal spring market. Post pandemic the sales of metal springs are expected to resume across various sectors. Automobile, construction and industrial sector played vital role in ensuring growth in post pandemic period.

Key Players

Key players in the market include All-Rite Spring Company, Bridon International Ltd, National Spring, Siddal& Hilton Products Ltd, Wire Products Company, Mid-West Spring and Stamping, GALA GROUP, Argo Spring Manufacturing Co., Inc, Patrick Manufacturing, Inc, Vulcan Spring & Mfg. Co, M.coil Spring Mfg. Co, Schnorr, SUHM Spring Works. The key focus area of the companies includes ensuring growth and sustaining competition.

Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2029.

Key questions answered in this report

• What are the key market segments in current scenario and in the future by product categories?
• What are the key market segments in current scenario and in the future by regions?
• What is the key impact of Covid-19 over market revenues and market determinants in the Metal Spring market?
• What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
• What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
• How to overcome the current market challenges and leverage the opportunities in each of the market segments?
• Who are the key players in the Metal Spring market and what are their key product categories and strategies?
• What are the key strategies - mergers/acquisitions/R&D/strategic partnerships etc that companies are deploying to enhance market revenues and growth?

Key Topics Covered:

Chapter 1 Preface

Chapter 2 Executive Summary

Chapter 3 Market Dynamics
3.1 Introduction
3.1.1 Global Metal Spring Market Value, 2019 - 2029, (US$ Mn)
3.2 Key Trends Analysis
3.2.1 Battery plays a key role
3.2.2 Europe dominates the market in regional analysis
3.2.3 Pandemic had a negative impact on the market
3.3 Market Dynamics
3.3.1 Market Drivers
3.3.1.1 Evolving Metal Spring Trend and Rise in Discretionary Income
3.3.1.2 Superiors Advantages of Using Metal Spring
3.3.1.3 Increasing use of Customized material as a Promotional Tool
3.3.2 Market Challenges
3.3.2.1 Limitations of Technique over other Methods
3.3.3 Impact Analysis of Drivers and Restraints
3.4 See-Saw Analysis
3.5 Attractive Investment Proposition
3.6 Competitive Landscape
3.6.1 Market Positioning of Key Metal Spring Vendors
3.6.2 Strategies Adopted by Metal Spring Vendors

Chapter 4 Metal Spring Market, By Type
4.1 Overview
4.2. Helical springs, Metal Spring Market Value, 2019 - 2029, (US$ Mn)
4.3. Leaf springs, Metal Spring Market, value 2019 - 2029, (US$ Mn)
4.4. Others, Metal Spring Market, value 2019 - 2029, (US$ Mn)

Chapter 5 Metal Spring Market, By Material
5.1 Overview
5.2 Carbon steel, Metal Spring Market, value 2019 - 2029, (US$ Mn)
5.3 Stainless steel, Metal Spring Market, value 2019 - 2029, (US$ Mn)
5.4 Copper, Metal Spring Market, value 2019 - 2029, (US$ Mn)
5.5 Bronze, Metal Spring Market, value 2019 - 2029, (US$ Mn)
5.6 Brass, Metal Spring Market, value 2019 - 2029, (US$ Mn)
5.7 Others, Metal Spring Market, value 2019 - 2029, (US$ Mn)

Chapter 6 Metal Spring Market, By Application area
6.1 Overview
6.2. Aerospace, Metal Spring Market Value, 2019 - 2029, (US$ Mn)
6.3. Automotive, Metal Spring Market, value 2019 - 2029, (US$ Mn)
6.4. Agriculture, Metal Spring Market, value 2019 - 2029, (US$ Mn)
6.5. Medical, Metal Spring Market, value 2019 - 2029, (US$ Mn)
6.6. Others, Metal Spring Market, value 2019 - 2029, (US$ Mn)

Chapter 7 North America Metal Spring Market Analysis

Chapter 8 Europe Metal Spring Market Analysis

Chapter 9 Asia Pacific Metal Spring Market Analysis

Chapter 10 Rest of the World Metal Spring Market Analysis

Chapter 11 Company profiles
11.1. All-Rite Spring Company.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
11.2. Bridon International Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
11.3. National Spring.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
11.4. Siddal& Hilton Products Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
11.5. Wire Products Company.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
11.6. Mid-West Spring and Stamping.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
11.7. GALA GROUP.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
11.8. Argo Spring Manufacturing Co..: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
11.9. Patrick Manufacturing, Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
11.10. Vulcan Spring & Mfg. Co.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
11.11. M.coil Spring Mfg. Co.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
11.12. Schnorr.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
11.13. SUHM Spring Works.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)

For more information about this report visit https://www.researchandmarkets.com/r/1oq5hd

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets

Related Links

http://www.researchandmarkets.com