Report China - Steel Springs and Leaves for Springs - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Nov 24, 2022

China - Steel Springs and Leaves for Springs - Market Analysis, Forecast, Size, Trends and Insights

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China: Steel Spring Market 2022

Steel Spring Market Size in China

In 2021, after three years of growth, there was decline in the Chinese steel spring market, when its value decreased by -4.8% to $X. In general, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Steel spring consumption peaked at $X in 2020, and then reduced slightly in the following year.

Steel Spring Production in China

In value terms, steel spring production declined modestly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +3.5% against 2016 indices. The most prominent rate of growth was recorded in 2014 with an increase of 21% against the previous year. Steel spring production peaked at $X in 2020, and then fell in the following year.

Steel Spring Exports

Exports from China

In 2021, overseas shipments of steel springs and leaves for springs increased by 32% to X tons, rising for the fifth consecutive year after two years of decline. Overall, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +8.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +83.9% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, steel spring exports skyrocketed to $X in 2021. Over the period under review, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +10.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +93.8% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for steel spring exports from China, accounting for a 22% share of total exports. Moreover, steel spring exports to the United States exceeded the volume sent to the second major destination, Vietnam (X tons), fourfold. The third position in this ranking was taken by Thailand (X tons), with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+19.3% per year) and Thailand (+5.7% per year).

In value terms, the United States ($X) remains the key foreign market for steel spring exports from China, comprising 17% of total exports. The second position in the ranking was taken by Vietnam ($X), with an 8% share of total exports. It was followed by Malaysia, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+25.2% per year) and Malaysia (+14.6% per year).

Export Prices by Country

In 2021, the average steel spring export price amounted to $X per ton, picking up by 1.9% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2014 an increase of 12% against the previous year. The export price peaked at $X per ton in 2015; afterwards, it flattened through to 2021.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while the average price for exports to Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Spring Imports

Imports into China

In 2021, purchases abroad of steel springs and leaves for springs increased by 8.7% to X tons, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 16%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, steel spring imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Japan (X tons) and South Korea (X tons) were the main suppliers of steel spring imports to China, together comprising 57% of total imports. South Africa, the United States, Taiwan (Chinese), Hungary, the UK, Romania, Canada, France, Italy and Spain lagged somewhat behind, together comprising a further 32%.

From 2012 to 2021, the biggest increases were in Romania (with a CAGR of +48.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Germany ($X) and the United States ($X) constituted the largest steel spring suppliers to China, with a combined 63% share of total imports. These countries were followed by South Korea, Taiwan (Chinese), France, the UK, Italy, Spain, Canada, Hungary, Romania and South Africa, which together accounted for a further 26%.

Romania, with a CAGR of +40.3%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average steel spring import price amounted to $X per ton, growing by 10% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 14%. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for steel springs and leaves for springs in the world?
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The countries with the highest volumes of consumption in 2021 were Ethiopia, China and the United States, together comprising 64% of global consumption.
What are the largest producers of steel springs and leaves for springs in the world?
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The countries with the highest volumes of production in 2021 were Ethiopia, China and the United States, together accounting for 63% of global production.
What are the leading suppliers of steel springs and leaves for springs to China?
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In value terms, the largest steel spring suppliers to China were Japan, Germany and the United States, together accounting for 63% of total imports. These countries were followed by South Korea, Taiwan Chinese), France, the UK, Italy, Spain, Canada, Hungary, Romania and South Africa, which together accounted for a further 26%.
What are the leading importers of steel springs and leaves for springs from China?
+
In value terms, the United States remains the key foreign market for steel spring exports from China, comprising 17% of total exports. The second position in the ranking was held by Vietnam, with an 8% share of total exports. It was followed by Malaysia, with a 5.6% share.
What is the average export price for steel springs and leaves for springs in China?
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In 2021, the average steel spring export price amounted to $2,771 per ton, surging by 1.9% against the previous year.
What is the average import price for steel springs and leaves for springs in China?
+
The average steel spring import price stood at $16,102 per ton in 2021, increasing by 10% against the previous year.

This report provides an in-depth analysis of the steel spring market in China. 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 25931613 - Iron or steel hot-worked laminated leaf-springs and leaves therefor
• Prodcom 25931615 - Iron or steel hot-worked non-laminated leaf-springs and leaves therefor
• Prodcom 25931617 - Iron or steel cold-formed leaf-springs and leaves therefor
• 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)
• Prodcom 25931653 - Iron or steel flat spiral springs
• Prodcom 25931655 - Iron or steel discs springs
• Prodcom 25931660 - Iron or steel springs (excluding leaf-springs and leaves therefor, helical springs, flat spiral springs, discs springs)
Country coverage:

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in China
• 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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2007-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2022
Figure 5:
Trade Balance, In Physical Terms, 2007-2022
Figure 6:
Trade Balance, In Value Terms, 2007-2022
Figure 7:
Per Capita Consumption, 2007-2022
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2022
Figure 21:
Production, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, 2012–2022
Figure 23:
Imports, In Value Terms, 2012–2022
Figure 24:
Imports, In Physical Terms, By Country, 2022
Figure 25:
Imports, In Physical Terms, By Country, 2012–2022
Figure 26:
Imports, In Value Terms, By Country, 2012–2022
Figure 27:
Import Prices, By Country Of Origin, 2012–2022
Figure 28:
Exports, In Physical Terms, 2012–2022
Figure 29:
Exports, In Value Terms, 2012–2022
Figure 30:
Exports, In Physical Terms, By Country, 2022
Figure 31:
Exports, In Physical Terms, By Country, 2012–2022
Figure 32:
Exports, In Value Terms, By Country, 2012–2022
Figure 33:
Export Prices, By Country Of Destination, 2012–2022
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