Spring Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Leaf spring, Helical spring, Others), By End-Use (Automotive & Transportation, Construction, Agriculture & Forestry, Manufacturing, Others), By Region & Competition, 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 27.67 Billion
CAGR (2026-2031)	5.18%
Fastest Growing Segment	Automotive & Transportation
Largest Market	North America
Market Size (2031)	USD 37.46 Billion

Market Overview

The Global Spring Market will grow from USD 27.67 Billion in 2025 to USD 37.46 Billion by 2031 at a 5.18% CAGR. Springs are resilient mechanical components, typically coiled from metal wire, designed to store and release energy to maintain force or absorb shock between contacting surfaces. The Global Spring Market is fundamentally driven by robust demand from the automotive sector, where these devices are essential for suspension systems, powertrains, and braking mechanisms, alongside sustained requirements from the industrial machinery and construction sectors. This growth is inextricably linked to the volume of vehicle manufacturing in major economic regions. According to the China Association of Automobile Manufacturers, in 2024, the cumulative production of automobiles reached 31.28 million units, illustrating the substantial scale of automotive activity that necessitates high volumes of suspension and engine springs.

Despite this positive momentum, the market encounters a significant challenge arising from the volatility of raw material prices, particularly for the high-grade steel and copper alloys required for durability. Fluctuating costs for these essential inputs can unpredictably compress manufacturer profit margins and complicate long-term pricing strategies. Consequently, securing stable material supply chains while mitigating the financial impact of variable input costs remains a formidable obstacle that could impede consistent market expansion.

Key Market Drivers

The Expansion of the Global Automotive Manufacturing Industry acts as the primary catalyst for the Global Spring Market, necessitating vast quantities of suspension coils, valve springs, and drivetrain components. As manufacturers ramp up production to support the transition toward electric mobility and satisfy post-pandemic recovery, the aggregate consumption of these mechanical energy storage devices has surged. Springs are critical for ensuring vehicle stability and passenger comfort, making their demand directly proportional to vehicular assembly rates. This correlation is evident in recent industrial performance metrics. According to the European Automobile Manufacturers’ Association, March 2025, in the 'Economic and Market Report', global car sales reached 74.6 million units in 2024. Such volume underscores the massive, continuous requirement for high-durability automotive springs across both traditional internal combustion engine and electric vehicle platforms.

Increasing Demand from the Aerospace and Defense Sectors further propels market growth, driven by the need for high-performance components capable of withstanding extreme temperatures and mechanical stress. Aircraft landing gear, flight control systems, and engine turbines rely on specialized alloys like titanium and nickel-based springs to ensure operational safety and reliability. A resurgence in commercial aviation travel has triggered a significant uptick in aircraft manufacturing rates. According to Airways Magazine, January 2025, in the 'Boeing Reports Q4, Full Year 2024 Deliveries' article, Airbus delivered 766 commercial aircraft in 2024, highlighting the sector's robust recovery and its downstream pull on precision component suppliers. However, this production activity is contingent upon the availability of base metals. According to the World Steel Association, in 2024, global steel demand was projected to reach 1,751 million tonnes, a figure that dictates the foundational supply base availability for industrial spring manufacturing.

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Key Market Challenges

The Global Spring Market faces a formidable barrier in the form of volatile raw material prices, particularly for the essential high-grade steel and copper alloys used in production. This instability makes it difficult for manufacturers to forecast expenses accurately or maintain stable profit margins. When the cost of these inputs fluctuates unpredictably, it disrupts long-term pricing agreements with automotive and industrial partners, often forcing suppliers to absorb the financial variance. As a result, companies become hesitant to commit to new capacity or innovation, shifting their strategic focus toward financial risk management instead of market expansion.

This challenge is substantiated by recent industrial data highlighting the pressure on manufacturing costs. According to the Institute for Supply Management, in 2024, prices paid for raw materials in the manufacturing sector were projected to increase by 1.9 percent, reflecting a sustained environment of rising input expenses. Such cost inflation directly squeezes the operational capital available to spring manufacturers. By necessitating constant adjustments to pricing and procurement strategies, this volatility creates a drag on the industry, effectively stalling the momentum necessary for broader market growth.

Key Market Trends

The accelerated adoption of composite automotive leaf springs is reshaping the market, primarily driven by the imperative to reduce unsprung mass in electric and heavy-duty vehicles. Manufacturers are increasingly replacing traditional steel multi-leaf configurations with glass fiber-reinforced polymer alternatives to enhance payload capacity without compromising durability. This technological pivot is evident as major suppliers expand their portfolio transparency to educate the market on performance benefits. According to Hendrickson, January 2024, in the 'Composites Microsite Launched' press release, their composite spring solutions are up to 50 percent to 75 percent lighter than traditional steel springs while maintaining ride height and corrosion resistance. This material substitution is particularly critical for electric delivery platforms where weight savings directly translate to extended battery range.

Simultaneously, the shift toward sustainable and recyclable manufacturing materials is compelling spring manufacturers to fundamentally alter their procurement strategies. This trend involves the integration of "green steel" produced via hydrogen-based direct reduction to mitigate the carbon intensity of suspension and industrial components. Original equipment manufacturers are now mandating low-emission material certifications to align with their net-zero targets. According to Green Steel World, April 2024, in the 'SSAB and Manitou Group agree on deliveries of fossil-free steel' article, Manitou Group finalized an agreement to incorporate emission-free steels produced with virtually zero fossil carbon emissions into their product lines. Such strategic sourcing partnerships demonstrate that environmental compliance is rapidly evolving from a regulatory requirement into a core competitive differentiator for component suppliers.

Segmental Insights

The Automotive & Transportation sector is identified as the fastest-growing segment in the Global Spring Market, driven by the rapid electrification of vehicle fleets and increasing global production. Manufacturers are shifting toward high-strength, lightweight spring materials to comply with rigorous emission standards and fuel economy mandates established by international regulatory bodies. Furthermore, the distinct structural requirements of electric vehicles necessitate advanced suspension systems to support heavier battery units. This critical need for specialized, durable components is significantly accelerating demand, positioning the automotive industry as the primary catalyst for market expansion.

Regional Insights

North America stands as the leading region in the Global Spring Market, characterized by a mature industrial infrastructure and high-value manufacturing output. This dominance is principally driven by the expansive automotive sector, where demand for advanced suspension systems in commercial and electric vehicles dictates market trends. Furthermore, the region’s established aerospace and defense industries necessitate precision-engineered, high-durability springs, significantly contributing to market revenue. Continuous investment in the production of heavy agricultural and construction machinery also sustains a steady requirement for industrial components, reinforcing North America’s position as a primary hub for market demand.

Recent Developments

• In May 2025, NHK Spring Co., Ltd. announced plans to establish a new manufacturing facility in Chhatrapati Sambhajinagar, India, to boost its production capacity for automotive suspension components. The new plant, which represents the third production site for its Indian subsidiary, will focus on manufacturing coil springs and stabilizer bars to meet growing market demand. The company allocated an investment of JPY 2 billion for the construction of this facility, which is scheduled for completion in 2027. This expansion aligns with the company's strategy to strengthen its global supply chain and supply suspension parts to original equipment manufacturers.
• In July 2024, Continental unveiled a significant development in material science for the spring market with the introduction of its Tough RuNR air springs. The company’s material experts successfully replaced the traditional synthetic chloroprene rubber used in commercial vehicle air springs with a new compound based on natural rubber enhanced with ethylene-propylene-diene rubber. This advancement allowed the company to reduce the carbon footprint of the rubber compound by more than 50 percent. The new material addressed previous material limitations by ensuring the air springs could withstand extreme climate conditions without compromising dynamic performance.
• In April 2024, Firestone Industrial Products announced a substantial expansion of its Firestone Airide manufacturing and distribution operations in Dyersburg, Tennessee. The company committed an investment of $8.9 million to construct a new warehouse center and kitting operation at the site, aiming to enhance its global production capabilities for air springs. This strategic development was designed to optimize logistics and reduce the carbon footprint associated with transporting goods, further supported by the opening of new distribution centers located directly adjacent to its manufacturing facilities to better serve customers in the heavy-duty and off-highway segments.
• In March 2024, Hendrickson Truck Commercial Vehicle Systems launched the ROADMAAX Z, a new heavy-duty drive axle air suspension system designed for demanding on- and off-highway applications. This system features the company’s patented Zero Maintenance Damping technology, which integrates the damping function directly into the air springs, thereby eliminating the need for conventional shock absorbers. As the company’s lightest rear air suspension with a 46,000-pound capacity, the system was engineered to provide enhanced ride quality and cargo protection while reducing downtime and maintenance costs over the vehicle's lifespan.

Key Market Players

• Schaeffler AG
• Mueller Europe Ltd.
• Muhr und Bender KG
• SPS Companies, Inc.
• Hugo Kern und Liebers GmbH & Co. KG
• NHK Spring Co., Ltd.
• Eibach, Inc.
• Sogefi S.p.A.
• Barnes Group Inc.
• Hendrickson USA, L.L.C.

By Type	By End-Use	By Region
Leaf spring Helical spring Others	Automotive & Transportation Construction Agriculture & Forestry Manufacturing Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Spring Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Spring Market , By Type:

• Leaf spring
• Helical spring
• Others

• Spring Market , By End-Use:

• Automotive & Transportation
• Construction
• Agriculture & Forestry
• Manufacturing
• Others

• Spring Market , By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE