The Spring Market is witnessing steady growth, expanding from USD 13 Bn in 2025 to USD 18.45 Bn by 2032, registering a healthy CAGR of 5.13%. The market is expected to witness stronger growth phase as automotive electrification, factory automation, and material innovation converge to reshape mechanical component demand. Leading spring manufacturers are shifting toward high-performance springs for EVs and automation, supporting a market through product innovation and partnerships.
Global Spring Market Key Highlights
In 2025, Automotive applications remain the primary driver of spring demand globally, accounting for over 40% of total spring consumption, with clear regional concentration.
In Asia Pacific, automotive spring demand surpassed 45% of global Spring volume in 2025, driven by high passenger and commercial vehicle production in China, India, Japan, and South Korea, where combined vehicle output surpassed 50 million units.
Helical springs led the market with 42.60% % share in 2025, supported by 40% automotive demand and production of 90 million vehicles produced globally.
OEM Channel held the dominant share in the market with an 80% share in 2025, supported by large spring volume procurement from automotive, industrial machinery, and commercial vehicle manufacturers.
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Spring Market Size, By Product Type (2025–2032)
The helical spring segment accounted for 42.60% of the global market share in 2024 and is expected to remain the leading product type through 2032. In the subsegment terms, Compression springs dominate the demand because of their extensive use in suspension and shock absorption system.
Leaf springs represent the second-largest segment in the global spring market, accounting for around 60% of suspension demand in medium and heavy commercial vehicles in 2025. By segment analysis, Semi-elliptical leaf springs held the dominant position because of their robust design and cost effectiveness.
Segment Type | Segments / Categories |
By Product Type |
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By Material |
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By End Use Industry |
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By Sales Channel |
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By Region & Country | North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, Sweden, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, ASEAN, Rest of APAC), Middle East & Africa (GCC, South Africa, Rest of MEA), South America (Brazil, Argentina, Rest of South America) |
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Global Spring Market Regional Insights
In 2025, Asia Pacific accounted for 36.8% of global spring demand. China led regional consumption, with automotive and EV manufacturing contributing 55% of spring demand, followed by industrial machinery and railway applications at 30%.
North America accounted for approximately 23% of automotive spring demand in 2025, supported by strong pickup truck and commercial vehicle production in the U.S., along with rising adoption of EV.
Europe held the share of 20% followed by North America and Asia Pacific, led by Germany and France, where regulatory pressure on emissions and vehicle weight reduction is accelerating demand for advanced alloy and high-performance springs.
Global Spring Market Competitive Landscape
The global spring market competitive landscape is shaped by technology-led partnerships, capacity expansion, and strategic acquisitions. Hendrickson USA is emerging as a key technology leader through its April 2025 strategic partnership with Voith US Inc. The companies are developing spring-integrated suspension systems for electric and zero-emission commercial vehicles through the partnership. Barnes Group Inc. has accelerated its transformation strategy to expand spring portfolios and industrial capabilities across automotive, aerospace, and manufacturing segments through USD 3.6 billion acquisition by Apollo Funds in 2025.
Global Spring Market Competitive Benchmarking
Company Name | Headquarters | Key Products | Core Focus Areas |
NHK Spring Co., Ltd. | Japan | Automotive & industrial springs | Material innovation, OEM contracts, lightweight alloys, automated production lines |
Sogefi Group | Italy | Suspension & engine springs | EV-compatible components, OEM partnerships, performance optimization |
ThyssenKrupp AG | Germany | Heavy-duty &precision springs | Advanced materials, Industry 4.0 manufacturing, regional capacity expansion |
Barnes Group Inc. | United States | Precision & specialty springs | High-performance materials, aerospace & automotive OEM contracts |
Lesjöfors AB | Sweden | Custom industrial & automotive springs | Sustainability-focused materials, flexible manufacturing, regional expansion |
Associated Spring Raymond | United States | Compression, torsion, extension springs | Automated production, precision engineering, OEM & industrial supply |
Mubea Group | Germany | Automotive suspension springs | Lightweight materials, EV platform integration, global manufacturing scale |
Alcoa Springs (Arconic) | United States | Aluminum & alloy springs | Lightweight material innovation, corrosion resistance, OEM collaboration |