Global Automotive Clock Spring Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Product Type;

Carbon Steel, Alloy Steel, Stainless Steel and Super alloy.

By Vehicle;

Passenger Vehicles and Commercial Vehicles.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn745941414 Published Date: May, 2024 Updated Date: June, 2024

Introduction

Global Automotive Clock Spring Market (USD Million), 2020 - 2030

In the year 2023, the Global Automotive Clock Spring Market was valued at USD 3,485.89 million. The size of this market is expected to increase to USD 4,775.68 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 4.6%.

The global automotive clock spring market is an essential component of modern vehicle steering systems, enabling the transfer of electrical signals and power between the steering wheel and the vehicle's electrical systems. Clock springs, also known as spiral cables or coil springs, are critical for maintaining continuous electrical connectivity while allowing for the rotation of the steering wheel. They are typically located within the steering column and consist of a coiled ribbon cable that winds and unwinds as the steering wheel turns, ensuring the seamless operation of various vehicle functions such as airbag deployment, horn activation, and steering wheel controls.

As automotive technology continues to advance, the demand for sophisticated safety features, driver assistance systems, and connectivity options in vehicles has surged, driving the growth of the automotive clock spring market. Clock springs play a crucial role in enabling the operation of these advanced systems by providing reliable electrical connections between the stationary parts of the vehicle and the rotating components such as the steering wheel. Furthermore, the increasing integration of electronic components and sensors into vehicle steering systems necessitates the use of high-quality clock springs capable of withstanding repeated cycles of rotation and ensuring uninterrupted electrical communication.

Regulatory mandates aimed at enhancing vehicle safety standards have further accelerated the adoption of advanced automotive clock springs. Regulations requiring the installation of airbag systems, electronic stability control (ESC), and other safety features in vehicles have led to a greater emphasis on the reliability and performance of clock spring assemblies. Automotive manufacturers are under pressure to ensure compliance with these stringent safety regulations while meeting consumer demands for comfort, convenience, and connectivity features. Consequently, the global automotive clock spring market is witnessing substantial growth as manufacturers invest in research and development to innovate and enhance the performance and durability of clock spring assemblies.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product Type
    2. Market Snapshot, By Vehicle
    3. Market Snapshot, By Region
  4. Global Automotive Clock Spring Market
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Increasing Adoption of Advanced Driver Assistance Systems
        2. Rising Demand for Electric and Hybrid Vehicles
        3. Stringent Safety Regulations
        4. Technological Advancements in Steering Systems
        5. Growing Focus on Vehicle Comfort and Convenience
      2. Restraints
        1. Complexity of Installation and Replacement
        2. Limited Lifespan and Durability
        3. Vulnerability to Environmental Factors
        4. Compatibility Issues with Advanced Technologies
        5. Market Saturation and Price Competition
      3. Opportunities
        1. Growing Focus on Vehicle Comfort and Convenience
        2. Expansion of Autonomous Vehicle Technologies
        3. Aftermarket Sales and Replacement Demand
        4. Integration of Connectivity and Infotainment Systems
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Automotive Clock Spring Market, By Product Type, 2020 - 2030 (USD Million)
      1. Carbon Steel
      2. Alloy Steel
      3. Stainless Steel
      4. Super alloy
    2. Global Automotive Clock Spring Market, By Vehicle, 2020 - 2030 (USD Million)
      1. Passenger Vehicles
      2. Commercial Vehicles
    3. Global Automotive Clock Spring Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Autoliv Inc
      2. MITSUBA Corporation
      3. Sumitomo Electric Industries, Ltd
      4. Tokai Rika Co., Ltd
      5. Dorman Products, Inc
      6. NSK Ltd
      7. Leopold Kostal GmbH & Co. KG
      8. Preh GmbH
      9. Mitsubishi Electric Corporation
      10. CTS Corporation
  7. Analyst Views
  8. Future Outlook of the Market