Automotive Chassis Market to Expand Remarkably at an Impressive Growth Rate by 2023

 

Industry Insight

An automotive chassis, as going by the trend, can gain impressive growth in the foreseeable future. The global automotive chassis market is expecting a healthy CAGR of 5.76% during the forecast period, reveals Market Research Future (MRFR) in an elaborated study. The market also shows the ability to attain a higher valuation in millions in the same period.

Top Impacting Factors

Leading automobile companies are manufacturing chassis with technological advancements and innovation amid the requirement for a lightweight and high efficient vehicle. This is notable as one of the key factors leading the market of automotive chassis. Some more important factors, such as the rising automotive industry, along with the technological advancements in automotive chassis, surged investment in research & development, and changing preference of the automotive manufacturers have influenced the market’s growth for many years.

Demand for lightweight solutions in consideration to decrease CO2 emissions has eventually surged. The current vehicle generation in many regions is 12% lighter than the previous generation vehicle. Thus, the demand for lightweight chassis is probable to rise. The regions such as Asia and Latin America are witnessing an incredible surge in the production of vehicles owing to the rise in vehicle production and economic growth. This has turned and estimated to boost the automotive chassis market in these regions.

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Furthermore, the development of technology has led to the utilization of metals such as carbon fiber and glass composites. The recent development of ultra-light Steel Auto Body (ULSAB) achieves an 80% improvement in torsional rigidity and saves 25% mass. The future trends in the chassis also include the incorporation of more safety modules, as developed by Continental AG. In fact, the rise in demand for electric vehicles has propelled the development of lightweight and robust chassis in association to mount electric motors and batteries. In support of all these factors, the automotive chassis market is projected to develop double digit in the coming years.

Segmentation of Market: Automotive Chassis

From the viewpoint of segmental analysis, the global automotive chassis market has been studied among the segments of material, chassis type, chassis system, vehicle type.

Among the chassis type, the market has included monocoque, ladder, backbone, modular, and others. In this, monocoque chassis type might lead the automotive chassis market during the assessment period owing to its safety and better fuel efficiency with minimum emission in the environment.

Among the material type segment, the market has included aluminum alloy, steel, and carbon fiber composite. In this, aluminum alloy might account for the largest market owing to its lightweight. The lightweight of aluminum reduces the weight of the car, thus improves safety measures.

Among the chassis system segment, the market has included corner modules, axle, and active kinematics control. In this, axle might lead the market during the forecast period as it holds the significant weight of the vehicle, which surges the demand for the axle. The improved safety of the axle will result in the growth of the automotive chassis market throughout the forecast period.

Regional Framework

North America, Asia Pacific, Europe, and the Rest of the World are the main regions where the study of the global automotive chassis market is conducted.

Asia Pacific region might has high chances to lead the automotive chassis market throughout the forecast period owing to the rising demand for the vehicle in promising countries such as China, India, and Japan. The improvement in the safety of structure will also lead to an increase in demand for sustainable chassis systems in the vehicles. It will drive the automotive chassis market in the Asia Pacific region. In fact, there has been a surge in the production of passenger and commercial vehicles, which will also lead to mounting demand for chassis system in the vehicle.

The market in North America is also likely to be the second-largest region leading the automotive chassis market during the assessment period. In the North America region, there is mounting in demand for lightweight vehicles and increased fuel efficiency of the car. This rising demand for the lightweight body will drive the automotive chassis market during the estimated period in this region.

Top Market Contenders

The top market contenders in global automotive chassis market are listed as ZF Friedrichshafen (Germany), Continental (Germany), Schaeffler (Germany), Magna (Canada), CIE Automotive (Spain), Aisin Seiki (Japan), Hyundai Mobis (Korea Republic), AL-KO (Germany), Benteler (Germany), Gestamp (Spain), and others.

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Key Questions Addressed by the Report

• What was the historic market size?
• Which segmentation (Product/ Capacity) is driving market?
• What will be the growth rate?
• How are the key players in this market?
• What are the strategies adopted by key players?

TABLE OF CONTENTS

 

1 EXECUTIVE SUMMARY

 

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

 

3 MARKET LANDSCAPE

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 THREAT OF SUBSTITUTES

3.1.4 SEGMENT RIVALRY

3.1.5 BARGAINING POWER OF BUYERS

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

 

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

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