Global Automotive Clock Spring Market: Latest Trends, Opportunities and Driver
According to a new report published by Reports Monitor titled, “Global Automotive Clock Spring Market, Growth Opportunities, Innovations and Forecast, 2018-2025,” the automotive clock spring market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Automotive clock spring is present in the steering wheel of the vehicle. The basic function of clock spring is to maintain electric connection of steering mounted control, entertainment function, and airbag unit. It also maintains electric connection during movement of steering wheel and helps in providing important assistance to the driver.
Automotive clock spring is made up of stainless steel, carbon steel and copper alloy. Rising awareness of safety amongst peoples and government initiative to installed airbag in the vehicle can boost the growth of the clock spring market. New product development and increased R&D can raise the demand of the products. Rapidly changing technology in vehicles can be the restraints to automotive clock spring market.
This report provides a detailed analysis of automotive clock spring market, which includes current industry situations such as market size, growth and demands, market outlook, major players with their key strategies such as investment, mergers and acquisitions, value chain analysis and porter’s analysis. It covers the market canvas and the growth opportunities in the coming years. The report has been made with an in-depth analysis along with important inputs from the various industry experts. The research is carried out with both extensive primary and secondary data sources supported with either bottom up or top down approach.
The global automotive clock spring market is majorly segmented on the basis of vehicle type. On the basis of vehicle type the market is segmented into passenger vehicles and commercial vehicles.
The global automotive clock spring market is majorly studied across four regions: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa). Government bodies of most countries in North America implemented safety norms which includes installation of airbags in light vehicle this drives the growth of the clock spring market. Increasing population and demand of the vehicle in Asia-Pacific attributes the growth of the market.
The major key players operating in the 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., Ltd and Nardrun Electronic Technology Co., Ltd.
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