In India, The automobile uses three basic types of spring is coil, leaf and torsion bar. Regardless of the type of spring, all springs work in a similar manner. Springs are placed between the frame and the wheel axles. Leaf springs are of two types: Multi-leaf and Single 2. leaf. An industry manufacturing Auto leaf springs, performs a variety of activities like cutting the plates, pressing and bending in hot state, rolling eyes at the master leaf ends and leaf treatment. These are the parts of a suitable forging industry. More vehicles come on the road, the demand of leaf springs increased naturally. The marketing of leaf spring depends on the production of automobile. Because leaf springs are used in the suspension system of every automobile. There is a good scope for a new entrepreneur.
An automotive leaf spring is used as a suspension system to support the vehicle by absorbing the bumps on uneven road tracks. Such springs comprise leaves and consist of one or more leaves. They are one of the traditional suspension systems for the wheeled vehicles. They are mainly used in LCVs and HCVs. The manufacturing process for the automotive leaf springs include center hole punching, shearing of flat bar, heating process, and heating treatment. Weight reduction is one of the mega trends in the automotive industry. It can be achieved primarily through the introduction of better materials, design optimization, and better manufacturing processes. Selection of any material for an application is based on the relative cost as well as the strength of the material.
The automotive industry has witnessed a remarkable transition in the leaf spring technology, material, style, design, etc. There are countless styles of leaf-spring suspension available worldwide featuring different mounting points, shapes, and sizes. The market for automotive leaf springs is set to reach an estimated value of INR 423.53 Crores in 2024, witnessing a healthy growth in the coming years. Several factors are bolstering the demand for leaf springs among which, rising production of LCVs and HCVs is the biggest growth driver. the stringent government regulations to meet the safety and comfort standards are expected to increase the demand and sales of automotive leaf springs in terms of value and volume during the forecast period.
The increase in demand for LCV and rise in the demand for vehicle comfort during long-run are expected to raise the demand for automotive leaf springs in the global market. Additionally, the increase in the per capita disposable income raises the concerns for the vehicle service and vehicle comfort, which enhance the demand and consumption for the automotive leaf springs, across OEMs and aftermarket. The rapid expansion of the global e-commerce industry is expected to fuel the demand for light commercial vehicles for order delivering, which will raise the demand for automotive leaf springs in the global market. The growth in the adoption of lightweight components is expected to reduce vehicle weight and enhance vehicle performance. Therefore, the use of lightweight components are expected to form an opportunity in the global market for automotive leaf spring during the forecast period. For instance, composite leaf springs are developed to replace the steel leaf springs in the heavy commercial vehicles. However, the continuous fluctuation in raw material prices and change in trade policies are expected to slow down the growth of the global automotive leaf spring market during the forecast period.
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