Chassis Market Trends: Rising production of Electric Vehicles Across the World to Fuel Demand, finds Fortune Business Insights

Automotive manufacturers are increasing their research and development activities to develop cost-effective and light-weight automotive chassis. This is one of the primary factors driving the global automotive chassis market.

As per the report, the global automotive chassis market for passenger cars was at 71.6 Million units in the year 2018 and is anticipated to exhibit a healthy CAGR of 9.7% through the forecast years. Introduction of stringent emissions norms has compelled chassis manufacturers and OEM’s to make light-weight chassis, transitioning the entire chassis design from heavy iron chassis to light-weight structure.

Fortune Business Insights in a report, titled “Automotive Chassis Market Size, Share & Industry Analysis, By Type (Ladder, Monocoque, Compact Modular, Modular), By Vehicle Type (Passenger Car, LCV, HCV), and Regional Forecast, 2019-2026” inspects the potential of the market based on historical, present, and future prospects.

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List of prominent companies that are operating in the global automotive chassis market are:

• Schaeffler
• Continental Ag
• ZF
• Aisin Seiki
• Magna
• CIE Automotive
• KLT-Auto
• AL-Ko
• Benteler
• Tower International
• Hyundai Mobis.

Strict guidelines on vehicular emissions have made it mandatory for manufacturers to reduce the vehicle weight, thereby putting emphasis on automotive chassis system. Growth in technological advancements and innovation is increasing the production of automobiles across the world. This, in turn, is encouraging manufacturers to develop light-weight chassis with an aim to fulfil the increasing need for highly-efficient vehicles. Increasing production of electric vehicles is another factor complimenting the automotive chassis market growth.

Major Segments include:

By Type
• Ladder
• Monocoque
• Compact Modular
• Modular

By Vehicle Type
• Passenger Car
• LCV
• HCV

By Geography

The report offers information on drivers, opportunities, trends, threats, and restraints to help our readers gain an understandable knowledge of the industry. In addition to this, the report provides an elaborative description of all the market segments, helping stakeholders to take investment decisions. Furthermore, the report offers a detailed evaluation of the competitive landscape to help our readers get a clear picture of key players and their strategies.

Market Segmentation as Per Chassis Type, Vehicle Type, and Region

• Ladder Chassis Segment to Hold a CAGR of 17.3%

As per chassis type, monocoque chassis is expected to cover the maximum share in the global market. This is mainly on account of its improved fuel efficiency and safety, thereby resulting in minimal emissions. Owing to the light-weight structure of monocoque chassis, the fuel efficiency of the vehicle is maintained, which is increasing its demand in the market. As per the report, monocoque segment may dominate the market, however modular chassis is likely to register remarkable growth in the forecast years.

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This type of chassis is an advanced and detachable chassis and is widely adopted in the passenger car designs. Moreover, modular chassis can be customized as per the design of the vehicle. These chassis are majorly used in electric vehicles and can be easily adapted to upcoming technologies and designs. Against this backdrop, the life-span of modular chassis can increase, which in turn, can save the cost of chassis development.

• Production of Passenger Cars to Increase Owing to the Rising Disposable Income of People

As per vehicle type, the demand for passenger cars is expected to increase especially in developing nations. As per the report, this segment holds the largest share in the market. The production of these cars is expected to increase owing to the improvements in the standard of living and purchasing power capacity of people. These factors ate further expected to drive the automotive chassis market growth. As per the report, analysts say that the LCV chassis market is anticipated to reach 25.9 million units by 2025. Furthermore, the HCV chassis market is estimated to be 5.2 million units by 2025.

• Market in North America to Cover 11.9 Million Units, Asia Pacific to Dominate automotive chassis market

From a geographical standpoint, Asia Pacific is expected to maintain its dominance in the global chassis market through the forecast years. The rising demand for vehicles in countries such as India and China is the major factor driving the chassis market share in Asia Pacific. In addition to this, the rising focus on the safety of the vehicle structure will fuel demand for chassis systems. Following Asia Pacific, North America is the second-largest leading region in the global market. In 2018, the market was projected to be at 11.9 Million units and is likely to be the largest market in terms of vehicle type segment in the forthcoming years. Rising demand for fuel-efficient and lightweight vehicles is expected to boost the market in this region by 2026.

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This release was published on openPR.