Product ID: SQMIG20C2055
Global Wave Spring Market Size, Share, Growth Analysis, By Type(Crest-to-Crest Wave Spring, Glass Wave Spring), By Application(Aerospace Electrical Connector, Electronic Tools) - Industry Forecast 2024-2031
Report ID:
SQMIG20C2055 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
71 |
Figures:
75
Global Wave Spring Market Regional Insights
In 2022, North America is expected to have the biggest market share of 40.0% in the market. In the North American and Asia-Pacific regions, along with the presence of major market players, the region marks a growth in the automotive and aviation industry, which is supporting the market growth.
The US and China are rapidly emerging towards the modernization of the automobiles and airlines, which as a result accounts for the increased demand for modern and compact chassis/ products for eliminating the extra weight and space in the vehicle. Hence, this is likely to drive the regional growth of the market during the forecast period. As of 2022, over 79% of the US population reported having access to their own car, with an additional 29% having access to a company or family car. Similarly, annual vehicle production in China accounted for 42% of global vehicle production. The high motor vehicle demand fuels an active automotive industry, which significantly creates a wide market scope.
Global Wave Spring Market Report Snapshots
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