According to the latest automotive Chassis systems market report by IMARC Group, the market reached a value of US$ 80.14 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 112.02 Billion by 2027, exhibiting a CAGR of 5.60% during 2022-2027.
An automotive chassis system refers to the load-bearing frame that supports the vehicle parts and provides a grip to the steering and suspension system. Ladder, tubular, backbone, monocoque, and modular are some of the commonly available automotive chassis systems in the market. It consists of brakes, an engine, a power-suspension system, and a structurally independent frame. It is produced using steel, ferrous metal, cast iron, and magnesium alloy, which offers strength and support to various vehicular components while keeping automobiles rigid and stiff. As a result, automotive chassis systems are extensively used in agricultural equipment, passenger vehicles, light commercial vehicles (LCV), construction equipment, and heavy commercial vehicles (HCV).
|Base Year: 2021|
|Forecast Year: 2022-2027|
Automotive Chassis Systems Market Trends and Drivers:
The market is primarily driven by the expanding automotive industry and the consequent demand for automotive chassis systems to improve the safety of the vehicle due to its light, ductile, and aerodynamic properties. In addition, various technological advancements, such as the development of naturally weighted electric-assist steering and dynamic chassis mode, are augmenting the market growth. Moreover, manufacturers are widely adopting modular and compact chassis systems due to the increasing demand for electric vehicles (EVs), which represents another-growth inducing factor.
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Besides this, the market is also propelled by the implementation of several government initiatives to control carbon emissions. Furthermore, the escalating demand for low emission and fuel-efficient vehicles over conventional internal combustion vehicles is encouraging manufacturers to invest in research and development (R&D) activities, manufacturing processes, and chassis designing, which is also providing a positive thrust to the market growth.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Automotive Chassis Systems Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Aisin Corporation, American Axle & Manufacturing Inc, Autokiniton US Holdings Inc., Benteler International AG, Continental AG, Gestamp Automoción S.A., Hyundai Mobis Co. Ltd, Magna International Inc, Robert Bosch GmbH, Schaeffler AG and ZF Friedrichshafen AG.
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The report has segmented the market on the basis of region, component, chassis system and vehicle type.
Breakup by Component:
- Control Arms
- Stabilizer Links
- Suspension Ball Joints
- Cross-Axis Joints
- Knuckles and Hubs
Breakup by Chassis System:
- Rear Axle
- Front Axle
- Corner Modules
- Active Kinematics Control
Breakup by Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Construction Equipment Vehicles
- Defense Vehicles
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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