Global automotive chassis systems market would reach $97 billion by 2022 from $71 billion in 2015; growing at a CAGR of 4.5% from 2016 to 2022. Chassis is the internal frame that supports all the body parts of the vehicle. Automotive chassis systems are attached to the vehicle and used to anchor the other vehicular systems such as suspension systems and steering systems to the vehicle frame. Moreover, chassis are expected to be light, sturdy, and with improved aerodynamic quality to improve the fuel efficiency. The improved production of the vehicles has increased the demand for the chassis system parts, which drives the market worldwide.
Increase in production of automobiles across all regions and change in automobile manufacturer’s preferences largely drive the global automotive chassis systems market. Moreover, substantial technological advancements in the global automotive chassis system market fuels the market growth. However, huge investment by the companies on R&D for the new chassis systems is restraining the growth of the market. Introduction of new technologies for manufacturing and non-standardization of automotive chassis are some of the factors that are providing huge opportunities.
The report divides the market into different segments on the basis of components type, chassis systems type, vehicle type, and geography. Based on components, the market is segmented into tie-rods, stabilizer links, suspension ball joints, cross-axis joints, control arms, and knuckles & hubs. By systems type, the market is divided into front axles, rear axles, corner modules, and active kinematics control. Based on vehicle type, the market is classified into cars, light commercial vehicles, intermediate commercial vehicles, heavy commercial vehicles, construction equipment, off-road vehicles, defense vehicles, and farm tractors. By geography, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Key market players are Continental AG, Robert Bosch GmbH, American Axle & Manufacturing, Magna International Inc., Benteler International AG, ZF Friedrichafen, Aisin Seiki Co., Schaeffler AG, Hyundai Mobis, and Gestamp Automocion SA.
POTENTIAL BENEFITS FOR STAKEHOLDERS
The global automotive chassis systems market is segmented by component, type of vehicle, type of chassis systems, and geography
BY TYPE OF VEHICLE
BY TYPE OF CHASSIS SYSTEMS
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