Spring Market Size To Reach $16,278.8 Million By 2030

Spring Market Growth & Trends

The global spring market size is expected to reach USD 16,278.8 million by 2030, registering a CAGR of 5.6% from 2025 to 2030, according to a new report by Grand View Research, Inc. The market is expected to gain prominence over the forecast period owing consistent growth in the demand of springs from the different end-use verticals such as automotive and transportation, agriculture and forestry, and construction. Also, the adoption of heavy industrial machinery in developing countries to optimize the manufacturing process is also expected to drive the market over the forecast period.

Industrialization and trade have strengthened each other. Trade has provided access to critical industrial inputs such as raw material and updated technologies such as robotics and Computer-aided manufacturing (CAM) for countries which are incapable of producing them. Increased demand for exports has spurred technological development and industrial production. In turn, the introduction of new industrial technologies such as use of 3D printers in manufacturing has shaped the pattern of manufacturing sector and hence increasing the demand for springs from robotics as well as from manufactured products. 

Europe accounted for more than 25.0% of the global revenue generated in the market in the year 2019. Rising government investments to boost electric vehicle production/sales is anticipated to promote regional growth over the coming years. In Asia Pacific, the market is expected to witness the fastest growth over the forecast period, owing to substantial growth of manufacturing sector in countries such as China and India.

However, the market is depended on demand from its end users such as automotive and manufacturing. Therefore, the onset of financial crisis is expected to adversely impact market growth. Also, prices of raw materials such as metal and alloy have rapidly fluctuated, hampering market growth. Furthermore, the presence of a large number of domestic and international market participants has made the market highly competitive. The competitive environment in the market has forced the vendors to sell the products at low prices. This has deeply impacted the profit margins of the market players and has also restricted further research and development in the market. However, frequent adoption of new manufacturing methods, and adoption of customized products is expected to accelerate the growth of the spring market over the coming years.

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Spring Market Report Highlights

• The helical spring segment dominated the market with the largest market share of over 43% in 2024.

• The automotive and transportation segment dominated the market with the largest market share in 2024.

• Asia Pacific spring market dominated the market with a market share of 37% in 2024 and is expected to grow at a CAGR of over 6% from 2025 to 2030

• North America spring market accounted for a share of over 22% in 2024, primarily driven by the region’s well-established automotive, aerospace, and industrial machinery sectors.

Spring Market Segmentation

Grand View Research has segmented the global spring market on the basis of type, industry end use, and region:

Spring Market Type Outlook (Revenue, USD Million, 2018 - 2030)

• Leaf Spring

  • Elliptical Leaf Spring

  • Semi Elliptical Leaf Spring

  • Quarter Elliptical Leaf Spring

  • Three-quarter Elliptical Leaf Spring

  • Transverse Leaf Spring

• Helical Spring

  • Compression Spring

  • Extension Spring

  • Torsion Spring

  • Spiral Spring

• Disk Spring

  • Belleville Disk Spring

  • Curved Disk Spring  

  • Slotted Disk Spring

  • Wave Disk Spring

Spring Market Industry End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Automotive and Transportation

• Construction

• Agriculture & Forestry

• Manufacturing

• Aerospace

• Railway

• Electronics

• Oil and Gas

• Renewables

  • Wind Turbines

  • Hydropower Plants

  • Solar Power Mounting Systems

  • Energy Storage Systems

  • Others

• Others

Spring Market Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

• Middle East & Africa

  • Saudi Arabia

  • South Africa

  • UAE

List of Key Players of Spring Market

• Ace Wire Spring & Form Company, Inc.

• Bal Seal Engineering.

• Lee Spring Company

• Barnes

• Bansbach Easylift GmbH

• GALA GROUP GmbH

• Torquesprings

• Tufcot Engineering Ltd

• Hendrickson USA, L.L.C.

• John Evans' Sons LLC