Major players approach towards strategic acquisition and partnership in order to increase the business presence and customer base is another factors expected to impact the growth of clutch spring wires market.

In 2020, Suzuki Garphyttan Group a leader in supplying advanced spring wire products in collaboration with Nippon Steel SG Wire extended the OTEVA SC and KD product portfolio. This is expected to help the company to enhance the business and increase the customer base.

In 2016, the company established a green field production plant in San José Iturbide in the state of Guanajuato, Mexico the plant size is 13,000 m2 with the possibility for future expansion. This is expected to help the company to enhance the business overseas.

In 2020, N.V. Bekaert S.A. a technology leader in steel wire transformation and coatings partnered with Almasa in order to cater the Columbia market. The partnership is focused on combining expertise and resources in offering existing and new steel wire products and solutions to the market. This is expected to help the company to increase the revenue.

Developing business policies by the government is resulting in emergence of small and mid-size enterprises with enhanced solution is expected to boost the growth of global market.

Factors such as increasing electric vehicle sale across the globe and fluctuating raw material prices are expected to hamper the growth of global clutch spring wires market. In addition, high competition and low profit margin is expected to challenge the growth of clutch spring wires market.

High investment for product development and increasing vehicle sale is expected to create new opportunities for players operating in the global market. In addition, players focus on shifting the manufacturing unit to developing countries due to easy availability of raw material and low cost labor is expected to support the future growth of clutch spring wires market.

Segment Analysis by Region

Asia Pacific is expected to witness faster growth in the clutch spring wires market due to increasing passenger vehicle sale in the country such as China and India. In addition, increasing partnership and agreement activities by major players in order to enhance the business presence is expected to support the growth of regional market.

The developing automotive regulatory scenario and government focus on enhancing the regional manufacturing capabilities is expected to augment the growth of target market.

Competitive Landscape      

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

Clutch Spring Wires Market Segment Analysis, 2019

The global clutch spring wires market is segmented into material type, spring type, and vehicle type. The material type segment is bifurcated into stainless steel, alloy steel, aluminium, and others. Among the material type the aluminium segment is expected to account for major revenue share in the target segment. The vehicle type segment is divided into passenger vehicle and commercial vehicle. Among the spring type the central spring segment is expected to account for moderate revenue share in target market.

The players profiled in the report are Suzuki Garphyttan, KIS Wire, Kobe Steel, Ltd., POSCO, Haina Special Steel, American Spring Wire Corporation, Pengg Austria GmbH, Nippon Steel SG Wire Co., Ltd., Neturen America Corporation, China Baowu Steel Group Corp., Ltd., Zhengzhou Sinosteel, and N.V. Bekaert S.A.

Market Segmentation

Market By Material Type

Stainless Steel

Alloy Steel

Aluminium

Others

Market By Spring Type

Diaphragm Spring

Central Spring

Others

Market By Vehicle Type

Passenger Car

Commercial Vehicle

Market By Region

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa