Springs might sound like ordinary tiny products, but the functionality of many products is dependent on springs. For example, toasters, door handles, clocks, computer keyboards, and mattresses.
However, each of the aforementioned products requires a different type of spring. Some commonly used types of springs are:
Considering the variety and function, springs have a big potential market.
According to IBIS World, the U.S. spring and wire manufacturing industry is expected to rise by 2.3% in 2023. It means you can excel in the spring manufacturing business in the future.
Finding spring manufacturers isn’t as challenging as determining their credibility. The decision-making becomes even tougher when it's online.
We have listed a few factors to help you find the right spring manufacturer:
What is the spring market size?
According to research, the estimated global spring market size in 2022 was around $26.93 billion. In 2029, the market value is expected to rise up to $38 billion. This CAGR of 4.4% hereby confirms plenty of growth opportunities in this industry.
What types of springs are common?
Linear rate springs are the most common and used ones. They possess an opposing force with a constant rate of change. These are present in toasters, mattresses, pens, etc.
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