Global Wave Spring Market Overview:
Expanding demand from developing countries is expected to drive the growth of the Global Wave Spring market. Springs are flexible mechanical components to store and release energy or apply and release forces on machine axes .A wave spring is made from coiled flat wire with waves added to give it a spring effect. These springs are superior to coil springs in certain applications because they provide lower work heights with the same force. This not only provides for space savings, but also smaller assemblies that use less material, hence it has lower production costs. Wave springs combine flat (non-coiled) bow springs (as their waves) with traditional compression-spring coil geometry. For the design’s compactness (as a high force-to-work height ratio) and other benefits, some motion systems have migrated from traditional helical or coil springs to flat-wire wave springs.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Growth Drivers
- Demand for space saving technology resulting in production being more cost effective
- Increasing use of wave springs in various industries like automotive industry
- Innovation from Companies like Smalley over fifty years leading to new advancement in wave springs
Roadblocks
- The problem faced by wave springs during its operation i.e. to handle prestress in a high-speed turbine may hamper the growth of the market.
Opportunities
- The wide number of applications in various industries for wave springs is providing new opportunities to the market players for innovation in wave springs.
Challenges
- Factors like spring surge and spring fatigue failure which is a potential concern and a challenge to overcome these failures for wave spring market.
Competitive Landscape:
The market appears to be fragmented with numerous market players with Engineers who are working with manufacturers to customize wave springs to specific operating conditions by material, thickness, number of turns, and other geometric features. That helps address or avoid the following spring-installation challenge.
Some of the key players profiled in the report are Smalley Steel Ring Company (Switzerland), Borrelly (France), Lee Spring (India), Associated Spring (United States), Scherdel Automotive Group (Brazil), Baumann Springs Ltd. (United States), Tru Wave (United States), Rohit Springforms (India), European Springs and Pressings (United States) and NHK Spring Co. Ltd. (Japan). Additionally, following companies can also be profiled that are part of our coverage like Nippon Stainless Spring Co.Ltd (Japan), Boker's Inc. (United States), Tech Spring (United Kingdom), Ningbo Vulcan Mechanical Seals Ltd. (China), Sunzo Spring (United States) and Shanghai Jiuguang Co.Ltd. (China). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Wave Spring market by 2027. Considering Market by End users, the sub-segment i.e. Aerospace Industry will boost the Wave Spring market. Considering Market by Shape, the sub-segment i.e. Flat wave will boost the Wave Spring market. Considering Market by Diameter Type, the sub-segment i.e. Standard ( 5mm to 400 mm) will boost the Wave Spring market. Considering Market by Technology, the sub-segment i.e. Active Coil will boost the Wave Spring market. Considering Market by Material Type, the sub-segment i.e. Carbon steel will boost the Wave Spring market.
In January 2019, Smalley Company released new nested Spirawave Wave Spring Series. Standard Nested Spirawave springs are available from .500 to 4” or 16 to 3000 mm in carbon and stainless steel. These are low cost and are specified for many applications including heavy duty bearing preload, connectors, valves, and seals. The increased forces produced make them ideal for industries that require wave springs with high load.
What Can be Explored with the Wave Spring Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Wave Spring Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Wave Spring
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Wave Spring market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Wave Spring market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Wave Spring Manufacturers, Wave Spring Distributors/Traders, Potential Investors, Downstream Vendors, Wave Spring Design Engineers, Government and Regulatory Bodies and Raw Material and Suppliers.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.