According to a recent published report by Research Nester on “Spring Shackles Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the spring shackles market in terms of market segmentation by vehicle type, by supply channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
More sophisticated suspension designs have been developed leading to increase in the demand for the spring shackles for the vehicles. Use of spring shackles has improved in recent years and has enhanced the safety for users and reduced the risk of concussion. They have been increasingly used in heavy vehicles offering the advantage of spreading the load widely over vehicle’s chassis. Technological advancements in the automobile industry have led to the development of new and advanced spring shackles that are longer in length, assist precise handling, increase wheel travel and contribute to improving driver comfort. Both heavy and light commercial vehicles are extensively using spring shackles in leaf spring suspension system owing to develop load bearing capacity and economic characteristics. More advanced spring shackles have been developed according to the driving need and the vehicle type. Protection from the vehicle rollovers, overall driving quality and lowering the center of gravity ensuring driving safety in turns and corners have been taken into consideration in the recent scenario. Specific up gradation in the drive is being ensured by the spring shackles of recent times.
The global spring shackle market is anticipated to witness a significant growth over the forecast period i.e. 2019-2027. The spring shackle market is segmented by vehicle type & sales channel. The market is segmented by vehicle type into light commercial vehicles and heavy commercial vehicles. The market is further segmented by sales channel into original equipment manufacturer and aftermarket.
The leaf spring suspension system is increasingly used owing to its low maintenance cost and high resistance to wear and tear. Hence, they are widely used in vehicles having high load leading to the growth of the market during the forecast period. Replacement of the spring shackles with sliding spring shackles is boosting the growth of the market. Enhancement in technology related to automobile industry is leading to the development of new and improved spring shackles providing better handling and more driver comfort.
The use of spring shackles has become obsolete in passenger cars. Moreover, problems occurring due to the bending of spring shackles is limiting the use of shackles in the vehicles.
Spring shackles market shares a collaborative relationship with the automotive industry. Increasing industrialization in Asia Pacific region will lead to rise in the demand for commercial vehicles and is anticipated to have a significant impact on the growth of spring shackles market in this region. Europe has been the pioneer of innovations and technology relating to commercial vehicles leading to strong investments in the production of spring suspension system. Middle East and Africa region is known for trading activities therefore, placing a demand for efficient commercial vehicles which will ultimately lead to the growth of spring shackles market in the near future.
This report also provides the existing competitive scenario of some of the key players of the spring shackle market which includes company profiling of Hub City Spring and Machine Ltd., Dobinsons Spring & Suspensions, Dorman Products Inc., Mountain Off-Road Enterprises, Omix – ADA Inc., Surindra Auto Industries, Crown Automotive Sale Co. Inc., and Lovells Springs Pty. Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the spring shackle market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.