Automotive Clock Spring Market

For sale by Maximize Market Research 31 Aug 2018 6:59 pm

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Automotive Clock Spring Market is expected to reach US$ XX Mn by 2026 in terms of revenue with CAGR of XX% in the forecasting period 2018-2026. An automotive clock spring is installed in the steering wheel of the vehicle. The spring retracts and expands inside the steering wheel when steering wheel moves. The primary function of the clock spring is to maintain electric connections of the airbag unit, steering mounted controls such as radio, and other entertainment functions, which are mounted on the steering wheel. The material utilized for clock spring is carbon steel, stainless steel, and copper alloys owing to their advantage over the other materials. The growth of automotive clock spring market is witnessed due to increase in demand for passenger safety equipments like airbag and seat belts. The major factors driving the growth of the automotive clock spring market include the benefits of accuracy, stability, and reliability and high demand in the global industries. Increase in demand for steering mounted controls, government emphasis on passenger’s safety, rise in demand for passenger vehicles and light commercial vehicle and demand for safety features these factors are likely to drive the market of automotive clock spring in the forecast period.Automotive Clock Spring MarketAutomotive clock spring market can be segmented into the product, Vehicle and region. On the basis of Vehicle, automotive clock spring market is segregated into the passenger vehicle and commercial vehicle. Passenger vehicle segment constituted more market share in 2017. Demand for vehicles is increasing worldwide. The global increase in the number of vehicles can be ascribed to the rise in global population. In the coming years, the market will significantly gain from the rising demand for passenger vehicles and light commercial vehicles. Rapid industrialization and growing construction industry in a developing region would drive the market of a commercial vehicle in the forecast period. In terms of region, the automotive clock spring market is classify into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America dominated the clock spring market. In this region for the safety of passengers’ government mandated the airbag for light vehicles owing to this consumption of clock spring is high in this region and it is expected to remain high during the forecast period. Some of the key prominent market players in the automotive clock spring market are Angotan Auto Parts, Spring Works Utah Inc., Draco Spring Mfg. Co., MHC Linkway Auto Parts Limited, Sanwim Auto Parts, Jinzhou Jinheng Automotive Safety System Co., Nardrun Electronic Technology Co., Other. The market for automotive clock spring is primarily driven by rising demand for airbags in vehicles.

The Scope of the Automotive Clock Spring Market:

Automotive Clock Spring Market by Product Type

• Carbon Steel • Alloy Steel • Stainless Steel • Super alloy

Automotive Clock Spring Market by Vehicle

• Passenger Vehicle • Commercial Vehicle

Automotive Clock Spring Market by Geography

• North America • Europe • Asia-Pacific • Middle East & Africa • Latin America

Key Players operating in the Automotive Clock Spring Market:

• Angotan Auto Parts • Spring Works Utah Inc. • Draco Spring Mfg. Co. • MHC Linkway Auto Parts Limited • Sanwim Auto Parts • Jinzhou Jinheng Automotive Safety System Co. • Nardrun Electronic Technology Co. • Reebang • TP

Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the current Automotive Clock Spring Market. The report encompasses the Automotive Clock Spring Market by different segments and region, providing the in-depth analysis of the overall industry ecosystem, useful for taking an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Automotive Clock Spring Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Automotive Clock Spring Market positioning of competitors.

 

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