Press release
Automotive Chassis System Market to Explore Excellent Growth in Future with $120,510 million by 2025 | Continental, Robert Bosch, ZF Friedrichshafen, Schaeffler, Hyundai Mobis, Gestamp
Key Findings of the Automotive Chassis System Market:
o The control arms segment in components generated the highest revenue for the global automotive chassis system market in 2017.
o In 2017, rear axle segment was the highest revenue contributor to the chassis system market.
o Cars segment in the vehicle was the highest revenue contributor of 2017 in the vehicle type category.
o The LAMEA region is anticipated to exhibit the highest CAGR during the forecast period.
o In 2017, the Asia-Pacific contributed the highest market revenue, followed by Europe, North America, and LAMEA.
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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.
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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.
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.
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In 2017, by component, the control arms segment dominated the global automotive chassis system market in terms of revenue. Furthermore, based on chassis system, rear axle is expected to maintain its lead throughout the forecast period. Presently, Asia-Pacific dominates the market, owing to increase in production of automobile, and is expected to maintain the major market chunk throughout the forecast period.
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