World - Iron Or Steel Hot-Worked Helical Springs - Market Analysis, Forecast, Size, Trends And Insights
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View PricingMetal Hot-Worked Helical Spring Market
The global market for iron or steel hot-worked helical springs is expected to witness an upward consumption trend over the next eight years, with a forecasted increase in volume to 4.4M tons and market value to $28.5B by the end of 2030. China, the United States, and India are among the top consumers of these helical springs, with Turkey showing the highest growth rate in consumption. Production, imports, and exports of these springs also play a significant role in the global market, with countries like Mexico, Germany, and China leading in exports.
Market Forecast
Driven by increasing demand for iron or steel hot-worked helical springs worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.6% for the period from 2022 to 2030, which is projected to bring the market volume to 4.4M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +4.8% for the period from 2022 to 2030, which is projected to bring the market value to $28.5B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Iron or Steel Helical Springs
In 2022, approx. 3.6M tons of iron or steel hot-worked helical springs were consumed worldwide; which is down by -3% compared with the previous year. The total consumption volume increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2018 when the consumption volume increased by 9.5%. As a result, consumption reached the peak volume of 4.1M tons. From 2019 to 2022, the growth of the global consumption remained at a lower figure.
The global metal hot-worked helical spring market value contracted slightly to $19.6B in 2022, waning by -2.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the market value increased by 7.9%. As a result, consumption attained the peak level of $21.1B. From 2019 to 2022, the growth of the global market failed to regain momentum.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were China (972K tons), the United States (543K tons) and India (372K tons), together comprising 52% of global consumption. Turkey, Japan, Russia, Brazil, Italy, Pakistan, Germany and Thailand lagged somewhat behind, together comprising a further 28%.
From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +8.0%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, the largest metal hot-worked helical spring markets worldwide were China ($3.4B), the United States ($2.7B) and Japan ($2.4B), with a combined 43% share of the global market. Turkey, Pakistan, India, Brazil, Germany, Italy, Russia and Thailand lagged somewhat behind, together accounting for a further 36%.
In terms of the main consuming countries, Turkey, with a CAGR of +9.5%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.
The countries with the highest levels of metal hot-worked helical spring per capita consumption in 2022 were Turkey (2.3 kg per person), Italy (1.8 kg per person) and the United States (1.6 kg per person).
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Turkey (with a CAGR of +6.5%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Iron or Steel Helical Springs
Global metal hot-worked helical spring production declined to 3.7M tons in 2022, flattening at the year before. The total output volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 8.5%. As a result, production reached the peak volume of 4M tons. From 2019 to 2022, global production growth remained at a lower figure.
In value terms, metal hot-worked helical spring production contracted to $20.7B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when the production volume increased by 13%. Over the period under review, global production hit record highs at $24.2B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.
Production By Country
China (1M tons) constituted the country with the largest volume of metal hot-worked helical spring production, comprising approx. 28% of total volume. Moreover, metal hot-worked helical spring production in China exceeded the figures recorded by the second-largest producer, the United States (492K tons), twofold. The third position in this ranking was held by India (376K tons), with a 10% share.
From 2012 to 2022, the average annual growth rate of volume in China amounted to +2.1%. In the other countries, the average annual rates were as follows: the United States (+0.7% per year) and India (+4.2% per year).
Imports
World Imports of Iron or Steel Helical Springs
In 2022, approx. 669K tons of iron or steel hot-worked helical springs were imported worldwide; waning by -5.2% compared with the year before. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 18%. As a result, imports attained the peak of 705K tons, and then reduced in the following year.
In value terms, metal hot-worked helical spring imports fell to $3.8B in 2022. The total import value increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. As a result, imports reached the peak of $3.9B, and then reduced in the following year.
Imports By Country
In 2022, the United States (125K tons), followed by Mexico (81K tons), Germany (56K tons), Canada (49K tons) and Poland (38K tons) represented the largest importers of iron or steel hot-worked helical springs, together achieving 52% of total imports. The UK (22K tons), the Czech Republic (21K tons), China (20K tons), France (16K tons), Romania (14K tons), Belgium (14K tons), Slovakia (13K tons) and the Netherlands (11K tons) followed a long way behind the leaders.
From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +10.0%), while purchases for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($553M), Mexico ($473M) and Germany ($330M) were the countries with the highest levels of imports in 2022, with a combined 36% share of global imports. China, Canada, Poland, the Czech Republic, the UK, France, Romania, Slovakia, the Netherlands and Belgium lagged somewhat behind, together comprising a further 31%.
Romania, with a CAGR of +9.2%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices By Country
The average metal hot-worked helical spring import price stood at $5,691 per ton in 2022, with an increase of 2.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2014 an increase of 8.9%. Global import price peaked in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($16,144 per ton), while Canada ($3,293 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+9.8%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Iron or Steel Helical Springs
In 2022, shipments abroad of iron or steel hot-worked helical springs increased by 8.9% to 732K tons, rising for the second consecutive year after three years of decline. The total export volume increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 21%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, metal hot-worked helical spring exports declined slightly to $3.6B in 2022. The total export value increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 23% against the previous year. As a result, the exports reached the peak of $3.8B, and then dropped slightly in the following year.
Exports By Country
In 2022, Mexico (153K tons), Germany (137K tons), China (94K tons) and the United States (74K tons) was the largest exporter of iron or steel hot-worked helical springs in the world, committing 63% of total export. The Czech Republic (37K tons) ranks next in terms of the total exports with a 5% share, followed by Poland (4.9%). Turkey (23K tons), Japan (20K tons), Hungary (15K tons), Sweden (14K tons) and the UK (14K tons) held a minor share of total exports.
From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +19.9%), while shipments for the other global leaders experienced more modest paces of growth.
In value terms, Germany ($900M), the United States ($499M) and China ($400M) were the countries with the highest levels of exports in 2022, together accounting for 49% of global exports. Japan, Mexico, the Czech Republic, Poland, the UK, Sweden, Hungary and Turkey lagged somewhat behind, together accounting for a further 27%.
Among the main exporting countries, Hungary, with a CAGR of +12.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices By Country
In 2022, the average metal hot-worked helical spring export price amounted to $4,976 per ton, which is down by -12% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 14%. Over the period under review, the average export prices attained the maximum at $5,653 per ton in 2021, and then fell in the following year.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($12,975 per ton), while Mexico ($1,159 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+9.7%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global market for metal hot-worked helical spring. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 25931631 - Iron or steel hot-worked helical springs
- Prodcom 25931633 - Iron or steel cold-formed helical coil compression springs
- Prodcom 25931635 - Iron or steel cold-formed helical coil tension springs
- Prodcom 25931637 - Iron or steel cold-formed helical springs (excluding helical coil compression springs, helical coil tension springs)
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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Global steel spring imports totaled X tons in 2016, ascending by X% against the previous year level. Overall, steel spring imports continue to indicate a relatively flat trend pattern. The pace o...
Global steel spring imports totaled X tons in 2016, ascending by X% against the previous year level. Overall, steel spring imports continue to indicate a relatively flat trend pattern. The pace o...