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Global Spring Shackles Market Share, Trends, Forecast: By Vehicle Type: Light Commercial Vehicles, Heavy Commercial Vehicles; By Type: Alloy Material, Stainless Steel, Others; By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket; Regional Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028
Global Spring Shackles Market Outlook
The global spring shackles market size is expected to grow at a CAGR of 4.70% between 2023 and 2028, due to the growing automotive industry.
Key Trends in the Market
A spring shackle is a device found on leaf-spring-equipped vehicles. This device fits at one side of the leaf spring and lets it flex and move while keeping the tire on the road. Further, the spring is not expected to be moved and the tire is supported for pulling off from the road's surface without a shackle when any obstacle or bump is encountered.
- The increasing usage of leaf spring suspension systems in heavy commercial and light commercial vehicles is expected to drive the spring shackles market during the forecast period due to their better load-bearing capacity along with economic costs.
- The growing technological advancements across the automobile industry are likely to propel the market growth of spring shackles across the globe. This is due to the rise in the establishment of various new as well as advanced spring shackles which are lengthier and support precise handling, enhancing driver comfort, and increased wheel travel.
- The market demand for spring shackles is expected to increase on account of its resistance to wear and tear and its low maintenance cost. Therefore, they are commonly employed in vehicles that have high load bearing which is further expected to bolster the market growth.
Market Analysis
Based on vehicle type, the market can be segmented into light commercial vehicles and heavy commercial vehicles. On the basis of type, the market is categorised into alloy material, and stainless steel, among others. Based on sales channel, the market is segmented into original equipment manufacturer (OEM), and aftermarket. The regional markets for spring shackles can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global spring shackles market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- APC Automotive Technologies
- Dorman Products Inc
- DRiV Incorporated. (Moog)
- Lippert Components, Inc.
- Superior Spring Mfg. Co. Inc.
- Daystar Products International
- Rough Country Suspension Systems
- Dobinsons Spring & Suspension
- Warrior, Inc.
- Original Equipment Reproduction (OER)
- Others
Market Share by Vehicle Type
Leaf springs with spring shackles provide a substantial amount of assistance between the axles, wheels, as well as the car’s chassis in heavy commercial vehicles. Accordingly, the heavy commercial vehicles segment is expected to gain momentum in the spring shackles market across the globe on account of the absolute amount of metal layered together.
With spring shackles, heavy commercial vehicles can transport vast vertical loads owing to their tight-knit structure which is the key aspect for the use of spring shackles in heavy commercial vehicles. As roadway transportation increases worldwide, the demand for heavy commercial vehicles is expected to increase in coming years, driving the need for spring shackles.
Market Share by Region
Geographically, the Asia Pacific region is expected to augment the spring shackles market share on account of the increasing industrialisation and growing urban population. The surging demand for vehicles along with the rapidly growing automotive industry in the region is expected to enhance the market growth of spring shackles over the coming years.
Meanwhile, Europe is expected to register growth in the market of spring shackles on account of the increasing investments in the automotive industry by several manufacturers. The strong presence of prominent automotive companies in the region is further expected to push forward market growth across Europe.
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Competitive Landscape
Dorman Products Inc is an automotive aftermarket company comprising of established problem solvers. The company supports consumers in fixing vehicles like cars and trucks by continuously evolving new repair solutions that set installers and owners first.
Lippert Components, Inc. is a leading supplier and manufacturer of engineered products as well as customised solutions across the globe. It is dedicated to growing, bettering, and shaping the RV, marine, commercial vehicle, building, and automotive products industries. The company uses strategic manufacturing capabilities to provide innovative and premium products to each consumer.
Superior Spring Mfg. Co. Inc. is a leading spring manufacturing company. It serves consumers across the globe in various industries, including aerospace, space flight, commercial, and medical. The company deals in the field of manufacturing and engineering, as well as testing wire forms, assemblies, and quality springs. It has a huge variety of in-house machining, inspection, processing, and testing capabilities along with the finest quality and the fastest lead times in the industry.
Other market players include APC Automotive Technologies, DRiV Incorporated. (Moog), Daystar Products International, Rough Country Suspension Systems, Dobinsons Spring & Suspension, Warrior, Inc., and Original Equipment Reproduction (OER), among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Vehicle Type |
|
| Breakup by Type |
|
| Breakup by Sales Channel |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Spring Shackles Market Analysis
8.1 Key Industry Highlights
8.2 Global Spring Shackles Historical Market (2018-2022)
8.3 Global Spring Shackles Market Forecast (2023-2028)
8.4 Global Spring Shackles Market by Vehicle Type
8.4.1 Light Commercial Vehicles
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Heavy Commercial Vehicles
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Spring Shackles Market by Type
8.5.1 Alloy Material
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Stainless Steel
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Others
8.6 Global Spring Shackles Market by Sales Channel
8.6.1 Original Equipment Manufacturer (OEM)
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Aftermarket
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.7 Global Spring Shackles Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
9 North America Spring Shackles Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Spring Shackles Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Spring Shackles Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Spring Shackles Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Spring Shackles Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 South Africa
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 APC Automotive Technologies
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Dorman Products Inc
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 DRiV Incorporated. (Moog)
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Lippert Components, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Superior Spring Mfg. Co. Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Daystar Products International
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Rough Country Suspension Systems
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Dobinsons Spring & Suspension
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Warrior, Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Original Equipment Reproduction (OER)
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Spring Shackles Market: Key Industry Highlights, 2018 and 2028
2. Global Spring Shackles Historical Market: Breakup by Vehicle Type (USD Million), 2018-2022
3. Global Spring Shackles Market Forecast: Breakup by Vehicle Type (USD Million), 2023-2028
4. Global Spring Shackles Historical Market: Breakup by Type (USD Million), 2018-2022
5. Global Spring Shackles Market Forecast: Breakup by Type (USD Million), 2023-2028
6. Global Spring Shackles Historical Market: Breakup by Sales Channel (USD Million), 2018-2022
7. Global Spring Shackles Market Forecast: Breakup by Sales Channel (USD Million), 2023-2028
8. Global Spring Shackles Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global Spring Shackles Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America Spring Shackles Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America Spring Shackles Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe Spring Shackles Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe Spring Shackles Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific Spring Shackles Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific Spring Shackles Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America Spring Shackles Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America Spring Shackles Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa Spring Shackles Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa Spring Shackles Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Global Spring Shackles Market Structure
Key Questions Answered in the Report
The market is assessed to grow at a CAGR of 4.70% between 2023 and 2028.
The major market drivers are the advantages of spring shackles in vehicles and growing demand for commercial vehicles.
The key spring shackles market trends include advancements in the automotive industry and cost efficiency of spring shackles.
The various vehicle types in the market for spring shackles are light commercial vehicles and heavy commercial vehicles.
The different types of spring shackles include alloy material, and stainless steel, among others.
The primary sales channels for spring shackles are original equipment manufacturer (OEM), and aftermarket.
The major players in the market are APC Automotive Technologies, Dorman Products Inc, DRiV Incorporated. (Moog), Lippert Components, Inc., Superior Spring Mfg. Co. Inc., Daystar Products International, Rough Country Suspension Systems, Dobinsons Spring & Suspension, Warrior, Inc., and Original Equipment Reproduction (OER), among others.
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