Automotive Chassis Market Growing At 5.76% CAGR From 2019 To 2023 - Size, Growth, Trends, And Regional Analysis

Automotive Chassis Market To Expand Steadily At A CAGR Of 5.76% During 2019-2023.

Market Overview:

Automotive chassis is the internal framework that supports all the components in an automobile. It is a main supporting structure of a vehicle. As per the report published by Market Research Future (MRFR), the global automotive chassis market is registered to expand steadily at a CAGR of 5.76% during the forecast period of 2017-2023.

The prominent players profiled by MRFR in the report on the global automotive chassis market are Continental (Germany), ZF Friedrichshafen (Germany), Magna (Canada), Schaeffler (Germany), Aisin Seiki (Japan), CIE Automotive (Spain), Benteler (Germany), Hyundai Mobis (Korea Republic) and AL-KO (Germany), Gestamp (Spain), and others.

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The recent upgrades in chassis systems that enhance aerodynamic qualities and reduce the overall weight of vehicle to improve fuel efficiency and design are leading to rapid adoption of advanced automotive, resulting in the expansion of the global automotive chassis market.

Increasing disposable income and easy availability of automobiles at lower prices are generating high demand for automobiles all over the world, which in turn is propelling the growth of the global automotive chassis market.

However, high expenditure by automotive companies on research and development of advanced chassis systems is likely to restrain the growth of the global automotive chassis market during the forecast period.

Market Segmentation:

The global automotive chassis market has been segmented on the basis of chassis type, material, chassis system and vehicle type. Based on chassis type, the automotive chassis market is segmented into backbone, ladder, monocoque, modular, and others. Based on material, the automotive chassis market is segmented into steel, aluminum alloy and carbon fiber composite. Based on chassis system, the automotive chassis market is segmented into axle, corner modules, and active kinematics control. Based on vehicle type, the automotive chassis market is segmented into vehicle type, passenger car and commercial vehicle. 

Regional Analysis:

Geographically, the global automotive chassis market is segmented into four major regions such as North America, Europe, Asia Pacific and the rest of the world. The automotive chassis market in the Asia Pacific region is anticipated to dominate the global market for automotive chassis owing to the rapid expansion of automotive industries, proliferation in manufacturing of automobiles and increasing demand for economy and luxury cars by the population in this region. The North America region accounts for the second largest share in the global automotive chassis market owing to the high demand for lightweight vehicles and cars with increased fuel efficiency in this region.

Industry Updates:

In September 2018, Dyne Systems, a division of Taylor Dynamometer, has announced the launch of its new portable, AC chassis dynamometer named 'TD-24-AC-T', which is specifically designed for testing over-the-highway trucks. The fully-contained, mobile system provides benefits like power-absorbing as well as motoring integrated into the trailer. The motoring function provides efficient downhill simulation.

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This release was published on openPR.