09th January 2019 – The global Automotive Chassis System Market is estimated to display an exponential CAGR in the next couple of years due to rising applications and benefits. Chassis can be defined as the interior frame that acts as a support system to various body parts of the automobile. It is known to be light weight and robust in nature. The main function that the automotive chassis systems perform is of incorporating numerous functions of the automobiles. Moreover, they have the potential to raise the aerodynamic quality in order to enhance the fuel efficiency as well as design.
The Automotive Chassis System market is currently undergoing a significant trend of the advancement of titanium chassis. It has been observed that manufacturers are taking up various researches and developments and are trying to discover and widen the usage of titanium in automotive chassis in high performance sports cars. The systems are being developed to raise the efficiency level as well as to meet the set standards.
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The factors that are playing a key role in raising the share of the Automotive Chassis System market may entail robust industrialization, urbanization, product development, presence of huge manufacturers, robust technological improvements, rise in the investments by the leading companies, developing economies, constant innovations in the designs as per the size as well as weight specifications, increment in the research budget from the companies, augmented demands for automobiles, and rise in the research and development activities.
The only factor that is acting as a major hurdle in the market growth may include introduction of norms by the government authorities regarding the conservation of the environment. Global Automotive Chassis System market is classified by component as Suspension Ball Joints, Tie-Rods, Hubs, Stabilizer Links, Cross-Axis Joints, Control Arms, Knuckles, and others.
Automotive Chassis System Industry is segregated by vehicle type as Light Commercial Vehicles, Defense Vehicles, Farm Tractors, Heavy Commercial Vehicles, Passenger Cars, Intermediate Commercial Vehicles, Off-Road Vehicles, Construction Equipment, and others. Among all the vehicle types, the Passenger Cars segment is holding the largest share in the market, the reason huge production of the segment and augmented demand for a wide variety of passenger cars likes sedans, SUVs, and hatchbacks.
- ZF Group
- Magna International
- ALF ENGINEERING
- BENTELER International
- Kalyani Group (Bharat Forge)
- Surin Automotive
- American Axle & Manufacturing and many others
Market segment by Type, the product can be split into
- Front Axles
- Rear Axles
- Corner Modules
- Active Kinematics Control
Market segment by Application, Automotive Chassis System (CMS) can be split into
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
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Automotive Chassis System market is segmented on the basis of geography as North America, Southeast Asia, China, Europe, Japan, and India. Among all the geographical regions, North America is currently being considered as the dominant region of the Automotive Chassis System market and it is simultaneously registering for the largest share in the market, the reason being augmented production, rising demands across various sectors, growth of automotive industry, and mounting investments by the leading manufacturers. In contrast, Asia Pacific and Europe are also expanding at a significant rate in the market owing to the emergence of huge market players in these regions.