Automotive Chassis System Market Growth, New Technology & Trends | Top Key Players- Continental AG, Robert Bosch GmbH, American Axle & Manufacturing
According to a recent report published by Allied Market Research, titled,"Automotive Chassis System Market by Component, Chassis system, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global automotive chassis system market was valued at $76,373.0 million in 2017 and is projected to reach $120,510.0 million by 2025, registering a CAGR of 5.7% from 2018 to 2025.
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At present, Asia-Pacific dominates the market, followed by Europe, North America, and LAMEA. China dominated the global automotive chassis system market in 2017, while Russia is expected to grow at a significant growth rate in Europe during the forecast period.
Factors such as increasing demand for fuel-efficient vehicles and rising innovations and technological advancements in chassis systems fuel the growth of the global automotive chassis system market. In addition, rise in automobile production boosts the market growth. However, fluctuating prices of raw material are expected to hinder the growth of the global market. In addition, decreasing vehicle ownership due to increasing shared mobility restricts the growth of the market. On the contrary, rising electric vehicle production and development of ultra-light chassis systems are anticipated to provide growth opportunities for the automotive chassis system market.
The main factors that drive the growth of the global automotive chassis system market include increase in demand for fuel-efficient vehicle, surge in innovations and technological advancements, and rise in automobile production. On the contrary, fluctuating prices of raw material and decreasing vehicle ownership due to increasing shared mobility are some of the factors that would restrain the growth of the market. However, rising electric vehicle production is anticipated to provide lucrative opportunities for the growth of the market. Also, the development of ultra-light chassis systems, which makes way for new companies to enter the market without much R&D investment, is expected to provide opportunities for the market growth.
Key Findings of the Automotive Chassis System Market:
• The control arms segment in components generated the highest revenue for the global automotive chassis system market in 2017.
• In 2017, rear axle segment was the highest revenue contributor to the chassis system market.
• Cars segment in the vehicle was the highest revenue contributor of 2017 in the vehicle type category.
• The LAMEA region is anticipated to exhibit the highest CAGR during the forecast period.
• In 2017, the Asia-Pacific contributed the highest market revenue, followed by Europe, North America, and LAMEA.
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The key players analyzed in this report are Continental AG, Robert Bosch GmbH, American Axle & Manufacturing, Inc., Magna International Inc., Benteler International AG, ZF Friedrichshafen AG, AISIN SEIKI Co., Ltd., Schaeffler AG, Hyundai Mobis, and Gestamp.
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
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