The chassis, primarily manufactured from steel, is considered to be the most crucial element that gives strength and stability to vehicles under different conditions. During the engineering phase, the body of a vehicle is flexibly molded according to the structure of the chassis.
The huge demand for lighter and stronger chassis systems as well as the on-going developments and progressive features in vehicle chassis systems are the key factors that will boost the automotive chassis systems market during the forecast period.
Asia-Pacific witnessing with strongest growth in the Automotive Chassis Market
Automotive chassis market forecast to 2023, has in-depth research report on the major regional market of North America, Europe, Asia-Pacific and the rest of the world (RoW). Among all the regions, countries such as the U.S., Germany, the U.K, Japan, South Korea and China are the leading players in the manufacturing and supplying of automotive chassis. Asia-Pacific, the largest supplier to the automotive chassis systems market since 2017, is witnessing a strong growth. A steady growth is estimated in India, China and the Middle East during the forecast period.
Sales Analysis Done in the Full Report
The current movement of innovation in automobiles is gradually mapping into the chassis market leading to higher scale of adoption. If we look upon the growing adoption of automotive industry for innovative technologies and product, the market is reshaping traditional auto industry structures.
Selected Type and End User Application Analysis Done in the Full Report
Based on end user application, the automotive chassis market has been segmented into passenger cars and commercial vehicles. The passenger cars segment dominates the market owing to the growing demand from Asia-Pacific and North America. Monocoque chassis, a structure in which the body of the car is integrated with the car chassis, is expected to witness the fastest growth in the passenger cars segment owing to the increasing demand for lightweight, environmentally friendly, and safe cars.
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Excerpts on Market Growth Factors
The present research states that automakers have lifted the advanced technologies across the aspects of today’s vehicles. Which came up with the development of in-car infotainment systems along with the growth in technical innovations brings new challenges for chassis manufacturers. Building a high safety measures and sophisticated chassis will help the market achieve new heights of revenues.
Reducing the chassis weight and also cost while improving performance is a major challenge and new opportunity for the automakers. Where, DuPont came up with myriad components, the foremost parts utilised in reducing weight and cost and integrating functions in the chassis systems. This highly engineered materials helped 1% and 4% improvement in fuel efficiency. Also helped 10% improving rolling resistance of tires. DuPont is continuing its process to enhance its standard materials that can be utilised further in future use.
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Key players of the Automotive Chassis Market
The automotive chassis market consists of several manufacturers and is characterized by rapid technological advancements. The chassis systems manufacturers or manufacturers of chassis components such as brakes, cradles, and axles are operating in this industry. The top strategy players of the automotive chassis market include BENTELER International, Bosch, Continental, Magna international and ZF Group. Other players such as American Axle & Manufacturing, and Schaeffler AG are in the race to hold a significant share in the market in the next few years.
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