India Spring Market (2025-2031) Outlook | Forecast, Revenue, Size, Value, Analysis, Share, Growth, Industry, Trends & Companies

India Spring? Market Synopsis

Springs play an important role in industrial automation processes and hence their demand has been rising consistently over the past few years worldwide including India as well. The spring market size across India stood at around US$ 540 million which is projected to reach US$ 736 million with a CAGR of 7%. Amongst all applications automotive springs dominate more than 60% share followed by machinery & equipment which accounts for around 20% share while consumer goods have now started gaining traction leading up an 11 % share currently.

Market Drivers of the market

In the India spring market, several factors have contributed to its expansion. One of the primary drivers is the booming automotive industry, which extensively uses springs in vehicles to enhance suspension and improve overall ride quality. The rapid growth of the manufacturing sector, particularly in the construction and machinery industries, has also fueled the demand for springs as essential components in various machinery and equipment. Furthermore, the increasing awareness of the benefits of using precision-engineered springs to optimize performance has further propelled the market`s growth.

Challenges of the Market

In the spring market, India encounters challenges related to the fluctuations in raw material prices and the inconsistent supply chain. The demand for springs in various industries, such as automotive, aerospace, and manufacturing, can be unpredictable, making it difficult for manufacturers to optimize production and inventory management. Moreover, the presence of cheaper imports from other countries puts pressure on domestic manufacturers, affecting their profitability and market share.

Covid-19 Impact on the Market

The spring market in India, catering to various sectors such as automotive, aerospace, and manufacturing, experienced disruptions due to the pandemic. As many industries scaled down operations or temporarily shut down, the demand for new equipment and machinery declined. This, in turn, impacted the sales of springs, causing manufacturers to face financial challenges.

Key Players of the Market

India spring market has witnessed steady growth due to the expanding automotive, manufacturing, and construction sectors. Key players in this industry include Sogefi Group, Anand Group, and Rassini.

Key Highlights of the Report:

• India Spring Market Outlook
• Market Size of India Spring Market, 2024
• Forecast of India Spring Market, 2031
• Historical Data and Forecast of India Spring Revenues & Volume for the Period 2021-2031
• India Spring Market Trend Evolution
• India Spring Market Drivers and Challenges
• India Spring Price Trends
• India Spring Porter's Five Forces
• India Spring Industry Life Cycle
• Historical Data and Forecast of India Spring Market Revenues & Volume By Type for the Period 2021-2031
• Historical Data and Forecast of India Spring Market Revenues & Volume By Leaf Spring for the Period 2021-2031
• Historical Data and Forecast of India Spring Market Revenues & Volume By Helical Spring for the Period 2021-2031
• Historical Data and Forecast of India Spring Market Revenues & Volume By Others for the Period 2021-2031
• Historical Data and Forecast of India Spring Market Revenues & Volume By End-use for the Period 2021-2031
• Historical Data and Forecast of India Spring Market Revenues & Volume By Automotive and Transportation for the Period 2021-2031
• Historical Data and Forecast of India Spring Market Revenues & Volume By Construction for the Period 2021-2031
• Historical Data and Forecast of India Spring Market Revenues & Volume By Agriculture & Forestry for the Period 2021-2031
• Historical Data and Forecast of India Spring Market Revenues & Volume By Manufacturing for the Period 2021-2031
• Historical Data and Forecast of India Spring Market Revenues & Volume By Others for the Period 2021-2031
• India Spring Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By End-use
• India Spring Top Companies Market Share
• India Spring Competitive Benchmarking By Technical and Operational Parameters
• India Spring Company Profiles
• India Spring Key Strategic Recommendations