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 2019-2026.
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.
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The growth of automotive clock spring market is witnessed due to the increase in demand for passenger safety equipment like the 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, a 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 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 classified 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.
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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
• 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.
MAJOR TOC OF THE REPORT
Chapter One: Automotive Clock Spring Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Automotive Clock Spring Market Competition, by Players
Chapter Four: Global Automotive Clock Spring Market Size by Regions
Chapter Five: North America Automotive Clock Spring Revenue by Countries
Chapter Six: Europe Automotive Clock Spring Revenue by Countries
Chapter Seven: Asia-Pacific Automotive Clock Spring Revenue by Countries
Chapter Eight: South America Automotive Clock Spring Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Automotive Clock Spring by Countries
Chapter Ten: Global Automotive Clock Spring Market Segment by Type
Chapter Eleven: Global Automotive Clock Spring Market Segment by Application
Chapter Twelve: Global Automotive Clock Spring Market Size Forecast (2019-2026)
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