DUBLIN--(BUSINESS WIRE)--The "Global Metal Springs Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2017 to 2025" report has been added to ResearchAndMarkets.com's offering.
The metal springs market was valued at US$ 20.6 Billion in 2016 and is expected to grow at a CAGR of 5.1% during the forecast period from 2017 to 2025.
Consistent growth in the different end-use verticals such as automotive, manufacturing, processing and agriculture coupled with new machining methods have resulted in the rising demand for metal springs across the world. Practically, there is no other device available to replace the utility of metal springs and hence the metal springs are widely accepted across all the industries. Post-recession, consistent growth in the manufacturing and processing and automotive industry has escalated the demand for metal springs. The growth in aforementioned industries is expected to contribute towards a positive growth in the overall metal springs market during the forecast period from 2017 to 2025.
Springs are extensively used for a range of applications including manufacturing, automotive and transportation, agriculture and construction, among others. With persistent growth in the aforementioned industries, the metal springs market is expected to demonstrate a continued growth in the following years.
However, the prices for the metals and alloys used for manufacturing springs are volatile and consistently fluctuates according to the market conditions. The uncertain material prices can create a negative impact on the overall metal springs market. Manufacturers are trying to overcome this restraint by reducing the cost of production by using modern machining methods for mass production.
- Modern machining methods and rising use of non-conventional machining methods
- Use of new metals and alloys for manufacturing heavy duty spring
- Expansion of sales and distribution network by manufacturers for increasing their sales
- Argo Spring Manufacturing Co., Inc.
- Asco Engineering & Enterprise
- DoFo Spring Manufacturing Co. LTD.
- GALA GROUP
- M.coil Spring Mfg. Co.
- Mid-West Spring and Stamping
- Patrick Manufacturing, Inc.
- S K SPIRING CO.
- SUHM Spring Works
- Vulcan Spring & Mfg. Co.
For more information about this report visit https://www.researchandmarkets.com/research/tt8dtn/global_metal?w=4