Future development trend of China’s spring industry

China’s spring industry is an important economic subdivision industry and an important part of the country’s economic and social development. In recent years, the scale of China’s spring industry has been expanding and the industry has made great progress.

According to the analysis of the 2023-2029 China spring industry market research and investment forecast analysis report released by the market research online website, the total size of China’s spring industry reached 4.5 trillion yuan in 2020, an increase of 16.2% year on year, of which the size of mechanical spring reached 3.7 trillion yuan, and the size of automobile spring reached 0.8 trillion RMB.

Since 2020, with the continuous acceleration of China’s economic development, the attention of the government and the increase of consumer demand for high-end products, China’s spring industry has developed rapidly, and the industry has shown a strong growth trend on the whole.

From the perspective of industry structure, the automobile spring industry has the largest scale, among which the demand for rear suspension spring and cab comfort spring is the largest. With the development of the automobile industry, the automobile spring industry will further expand its scale.

In addition, the development of mechanical spring is also very fast. Due to the characteristics of mechanical spring, it is widely used in mechanical processing, electronic components, watch manufacturing and other industrial production, thus promoting the development of mechanical spring industry.

The introduction of relevant national policies has also provided a good environment for the development of China’s spring industry. The government has issued a series of policies to support the technological innovation and product upgrading of the spring industry.

With the increasing demand of consumers for automotive electronics and intelligence, China’s spring industry will also continue to grow, and the future development trend of the industry will be more clear.

It is expected that in the next few years, China’s spring industry will continue to maintain a high-speed development trend and its scale will be further expanded. Due to the promotion of government policies, the industry technology and product quality will also be improved, and the overall competitiveness of the industry will be improved, thus promoting the development of the industry.