Procurement Market Intelligence Report
Springs
Sourcing Guide & Market Intelligence
Smarter cost management starts with comprehensive market intelligence
United States
Global
Quick Navigation
Springs Global Overview
Definition
Summary
Springs have limited use on their own and are typically incorporated as a component of other products, such as car suspension, manufacturing machinery, mattresses, garage doors, and clocks. Types of springs include leaf springs, spiral springs, wire-form springs, and helical springs, also known as coil springs. Key buyers are typically in the manufacturing industry, such as automobiles, mattresses, tools and hardware, and mining machinery.
This Report Includes:
- Leaf Springs
- Spiral Springs
- Wire-Form Springs
- Helical (Coil) Springs
Not in this Report:
- Orthodontic Springs
- Wave Springs
- Bands
- Press Springs
Take the ProcurementIQ products and data tour
Explore live samples of price trend forecasts, price driver projections, forward-looking cost structure data and more.
Global Springs Procurement Trends
Discover the top international trends affecting procurement in the global Springs market.
Warning Trends
Manufacturing component prices to rise in response to elevated tariffs
- The Trump administration’s reciprocal tariffs, which apply broad tariffs to all imports from most nations, are set to take effect on August 7 after the rates were finalized on August 1.
- However, these tariff increases exempt steel and aluminum products, which already face a flat tariff rate of 50.0% regardless of source country, except for the United Kingdom, as of mid-June.
- The tariffs on steel and aluminum are set to increase domestic prices for these metals by 37.6%, translating to similar price increases for manufacturing components made from these materials, such as springs, non-electric wire and cable, or fasteners.
- Nonmetallic manufacturing components, such as those made from plastic and other materials, are likely to see significant price increases when the reciprocal tariffs go into effect, with the Yale Budget Lab projecting an 11.0% average price increase for plastic and rubber goods.
- As tariff policy continues to evolve, this story will be continuously updated to reflect the impacts.
United States announces new tariffs on all imported steel
- In February 2025, the United States announced 25.0% tariffs on all imported steel with no exemptions or exceptions. The tariffs took effect on March 12, 2025. On June 4th, these tariffs were increased further to 50%. These tariffs were not impacted by a recent court decision that temporarily suspended duties on certain goods as they were implemented under Section 232 of the Trade Expansion Act.
- Previously, countries such as Canada, Mexico, and Brazil, the top exporters of steel to the United States, had exemptions from tariffs. These have now been removed and all imported steel, regardless of origin, will be subject to the 50.0% tariff. However, on May 8th, the US announced an agreement with the United Kingdom to remove all levies on steel exported from the UK.
- When tariffs on steel imports were introduced in March 2018, they contributed to an increase in the price of steel and steel products. According to the Bureau of Labor Statistics, the price of steel-milled products increased by 10.2% in the year after the tariffs were implemented. This market heavily relies on steel as an input and may be impacted by this policy.
Global Springs Market - Suppliers by Region
| Country/Region | Number of Suppliers |
|---|---|
| #1 Europe | 74,050 |
| #2 China | 58,040 |
| #3 India | 42,095 |
Explore supplier concentration across the globe
We've uncovered the 11 top regions for global procurement, based on feedback from our most strategic clients. Access vendor counts for each unique region when you subscribe.
Geography Drilldown - US
Average Cost of Springs
United States
2026 Market Pricing$0.05 to $XXX.XX
per springAverage Price
Prices in the Springs market range from $0.05 to $XXX.XX, depending on Plating, Type of Spring, Material Composition and Customization. For example, lower prices are associated with Zinc plating ($2.00 to $20.00 per spring), whereas higher prices are associated with Iron plating ($5.00 to $50.00 per spring).
Need the scoop on international price trends?
Between our Europe and Canada collections, we provide price data for 350 markets so you can instantly compare prices across borders. Or, use our custom research services for intel on prices in any region across the globe.
Springs Category Price Trends
Pricing trends are indicated by the compound annual growth rate (CAGR) during a set period of time. For the Springs market, prices in the US have grown 1.6% from 2022 to 2025. Subscribers can access price trend forecasts, price driver projections and forward-looking cost structure data. Learn more
United States (2022-2025)
United States (2025-2028)
Compound Annual Growth Rate
Wondering where prices are heading?
Price trend forecasts are available to subscribers, along with price driver projections and forward-looking cost structure data.
Cost Analysis - Total Cost of Ownership for Springs
Total cost of ownership is Low in the Springs market. The average cost of ownership differs depending on the contract but generally includes costs negotiated before the contract begins, costs billed during the contract period and unforeseen costs.
Negotiated Before
Customization
Billed During
Additional Fees
Buyer Power in Procurement Negotiations
In 2026, buyer power amounts to -2.7 in the United States. Buyer power is most positively impacted by Recent Developments. It is most negatively impacted by Forecast Price Trend. Subscribers can access details on eight other factors that impact buyer power. Learn more
United States
Buyer power forecasts: your glimpse into the future
Develop strategies for the upcoming year and identify unforeseen opportunities for buying now
- Actionable "Buy Now" and "Buy Later" insights
- Near-real-time updates to current and forecast Buyer Power Scores
- Methodology and weightings for Buyer Power Score Components
Supply Chain Risk
The average level of supply chain risk is assessed as High, which has a negative impact on buyer power. The level of supply chain risk is affected by industry volatility, barriers to entry, competition, import penetration, regulation and industry financial risk. Buyers in this market can mitigate procurement and supply chain management risks by monitoring risk levels for individual first and second tier suppliers:
1st
Tier Suppliers
- Iron & Steel Manufacturers
- Steel Rolling & Drawing Firms
- Metal Stamping & Forging Firms
- Computer Manufacturers
2nd
Tier Suppliers
- Copper, Nickel, Lead & Zinc Mining Firms
- Metalworking Machinery Manufacturers
- Nonferrous Metal Rolling & Alloying Firms
- Semiconductor & Circuit Manufacturers
Biggest Springs Suppliers in the US by Revenue
The largest Springs vendors by revenue in the US are Automatic Spring Products Corporation, Gemco Manufacturing Co. Inc. and Newcomb Spring Corp. Subscribers can sort and filter by market share concentration, profit level and other factors. Learn more
| Supplier | Operational Size | Headquarters | Number of Employees | Market Share (%) | Market Share Performance (3yr trend) | Total Revenue ($ million) | Profit Level (%) | Risk Level |
|---|---|---|---|---|---|---|---|---|
| NHK Spring Ltd. | Global | Kanagawa, JP | >10,001 | 20-25 | ||||
| Leggett & Platt, Inc. | Global | CARTHAGE | >10,000 | < 5 | ||||
| Automatic Spring Products Corporation | International | Grand Haven, MI | 251-500 | < 5 | ||||
| Gemco Manufacturing Co. Inc. | International | Southington, CT | 25-50 | < 5 | ||||
| Newcomb Spring Corp. | Global | Alpharetta, GA | 251-500 | < 5 | ||||
| Peterson American Corporation | International | Southfield, MI | 501-1,000 | < 5 | ||||
| Asw.Pengg Llc | Regional | Bedford Heights, OH | 101-250 | < 5 | ||||
| Barber Manufacturing Company Incorporated | Local | Anderson, IN | 51-100 | < 5 | ||||
| BHI Bazz Houston International | International | Garden Grove, CA | 51-100 | < 5 | ||||
Looking for a list of suppliers by country?
Subscribers can access vendor information on Canadian and European suppliers, too. We also offer custom research services to help with vendor sourcing anywhere in the world.
Profit Analysis
The average profit margin across vendors in the Springs market is 6.6% and steady. Profit levels shift depending on suppliers' spend on wages, purchases and overhead. The highest cost component for vendors is Purchases. The cost trend for this component is falling, when considering movement between 2025 and 2026. To understand cost forecasts for 2027 and uncover the implications on profit, start your subscription. Learn more
Vendor & Supply Chain Analysis
Average vendor risk in this market is moderate because of how spring manufacturers regularly use products and services provided by these suppliers, and their ability to supply springs to downstream markets does not rely as heavily on these vendors. These upstream suppliers operate in competitive environments, allowing spring suppliers to easily source new vendors in the event that their primary provider is unable to provide the needed services or products.
Market share concentration in the spring market is moderate, with the top four companies accounting for about 40.0% of total market revenue. The market is characterized by strong competition between suppliers stemming from the commoditized nature of springs, even in the face of moderate product specialization and a high level of imports.
The supply chain for springs has displayed a high level of risk, as the majority of risk to the supply chain stems from iron and steel manufacturers. Steel is a critical input in the majority of springs and represents a significant portion of the average vendor’s cost structure; the price of steel, a global commodity, often fluctuates drastically with international supply and demand trends.
As a net importer in the springs market, US buyers' procurement strategies may be influenced by factors such as cost considerations and international competition and will need to carefully evaluate pricing options and potentially seek out more cost-effective solutions. Being a net importer can restrict buyer power and reduce their ability to dictate terms and conditions in procurement transactions, and will have less control over pricing, quality, and availability of the goods or services they need.
Supplier Information
NHK Spring Ltd.
NHK Spring Ltd. is a public company operating globally in the manufacturing sector. The company's offerings include springs. Founded in 1939, the company is currently headquartered in Kanagawa, Japan with an estimated employee count of over 10,000. Subscribe to learn more
Asw.Pengg Llc
Asw.Pengg Llc is a private company operating nationally in the manufacturing sector. The company's offerings include springs. Founded in 1968, the company is currently headquartered in Bedford Heights, Ohio, United States of America with an estimated 75 employees. Subscribe to learn more
Automatic Spring Products Corporation
Automatic Spring Products Corporation is a private company operating internationally in the manufacturing sector. The company's offerings include springs. Founded in 1950, the company is currently headquartered in Grand Haven, Michigan, United States of America with an estimated 375 employees. Subscribe to learn more
Barber Manufacturing Company Incorporated
Barber Manufacturing Company Incorporated is a private company operating locally in the manufacturing sector. The company's offerings include springs. Founded in 1894, the company is currently headquartered in Anderson, Indiana, United States of America with an estimated 75 employees. Subscribe to learn more
BHI Bazz Houston International
BHI Bazz Houston International is a private company operating internationally in the manufacturing sector. The company's offerings include springs. Founded in 1961, the company is currently headquartered in Garden Grove, California, United States of America with an estimated 75 employees. Subscribe to learn more
Gemco Manufacturing Co. Inc.
Gemco Manufacturing Co. Inc. is a private company operating internationally in the manufacturing sector. The company's offerings include springs. Founded in 1943, the company is currently headquartered in Southington, Connecticut, United States of America with an estimated 37 employees. Subscribe to learn more
Gibbs Wire & Steel Co. Inc.
Gibbs Wire & Steel Co. Inc. is a private company operating internationally in the manufacturing sector. The company's offerings include springs. Founded in 1956, the company is currently headquartered in Southington, Connecticut, United States of America with an estimated 150 employees. Subscribe to learn more
Leggett & Platt, Inc.
Leggett & Platt Incorporated is a global, diversified manufacturer of engineered components and products for homes, automobiles, aerospace, and industrial markets. It organizes its business into three segments: the Bedding Products segment, which provides comprehensive bedding capabilities, from raw materials,... Subscribe to learn more
MW Industries Inc.
MW Industries Inc. is a private company operating globally in the manufacturing sector. The company's offerings include springs. Founded in 1976, the company is currently headquartered in Houston, Texas, United States of America with an estimated 175 employees. Subscribe to learn more
Accelerate the vendor selection process
Get a clear picture of the competition in a market and discover which vendors are best-suited for your sourcing needs. Our supplier profiles include hard-to-find financial ranges for private companies, cover public company data and feature an interactive competitor matrix.
Procurement Management KPIs for the Springs Market
Managing vendor performance throughout the contract period is easier when tracking specific key performance indicators (KPIs). For example, buyers should monitor Customer Acquisition Cost and Customer Satisfaction (CSAT). Buyers may experience better performance throughout their contracts if they establish service level agreements (SLAs) based on Pricing and other factors.
| KPI | Level of Importance (1-5) | Measurements | Key Considerations |
|---|---|---|---|
| Customer Acquisition Cost |
|
Total marketing costs Total sales cost Number of customers acquired |
Determining how much it costs to establish a customer relationship is essential in negotiation and price planning because buyers can determine if the price of springs will be higher with vendors with higher acquisition costs. Using customer acquisition cost can be used to determine the efficiency of customer acquisition process. |
| Customer Satisfaction (CSAT) |
|
Number of positive customer responses Number of customer responses |
Overall customer satisfaction with a vendor is indicative of how cooperative and sympathetic they are to customer needs. Positive customer satisfaction shows that the vendor cares for customer success rates with using their springs and other related products. |
|
|||
Questions to Ask During Procurement Negotiations
How can I gain leverage during negotiations?
Experience and Expertise
How many years have you been in the spring business?
How many clients do you have? Please provide profiles of clients that fall within the same field as me.
Product Lines
Is the production machinery that you host catered to the type of spring I need?
What is the average rate of failure?
Customization
Do you offer product specialization? If so, what are the parameters of the scope and scale?
Do you offer coating services for the metal? If so, will the coatings offered be applicable to my spring? Why or why not?
The ultimate prep for procurement negotations
View all 30 negotiation questions for this category when you subscribe.
Springs RFP Guidelines
What should my RFP include?
Organizational Overview
Buyers should describe the size of their organization and include some information about their operations.
Buyers should specify their location and the end-use of the springs.
Statement Of Need
In detailed terms, buyers should give specifics about the product requirements. Buyers should include product specifications such as spring type, size, wire diameter, number of coils, strength, material composition, and other pertinent information.
Buyers should also include some information about the final product that the springs will be a part of. This will give vendors helpful information to use when designing the product.
Project Budget
Buyers should include all relevant information for vendors to create a cost proposal.
Buyers should provide information about when payment will occur. For example, buyers should say whether payment is awarded upon finalization of the contract or over a period of time.
The RFP process made easy
Find out how you can access RFP templates for 800+ procurement categories to start writing better, more consistent RFPs.
We display average pricing information, trends and market data.
Our Reports include:
- Opportunity assessment
- Market dynamics
- Recent developments
- Positive and warning trends
- Buyer power levers
- Price environment and market pricing
- Geographic wage rates
- Global market updates
- Total cost of ownership
- Cost structure benchmarks and analysis
- Supply chain and vendors
- Global supplier breakdown
- Market share concentration
- Regulation and business requirements
- Vendor management and KPIs
- Sourcing strategy guidance
