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Automotive Chassis Systems Market trends estimates high demand by 2021
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According to the report, the global automotive chassis market is analyzed on the basis of components, types of systems, and vehicles. Suspension ball joints, tie-rods, cross-axis joints, control arms, stabilizer links, and knuckles and hubs are the key components of automotive chassis systems. Corner module systems, rear axle systems, front axle systems, and active kinematics control systems are the major automotive chassis systems available in the market.
Passenger Cars, ICVs, LCVs, HCVs, construction equipment vehicles, off-road vehicles, defense vehicles, and farm tractors are the primary vehicles, in which automotive chassis systems are installed. The passenger car market is the biggest consumer of automotive chassis systems across the globe, the report says.
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Regionally, the research report segments the global automotive chassis systems market into North America, Asia Pacific, Europe, and the Rest of the World. Among these, the Asia Pacific market for automotive chassis systems has emerged as the most lucrative regional market. The region has historically been the largest market for automotive chassis systems in the global arena. Japan and India are the leading automotive chassis systems markets in Asia Pacific.
The robust infrastructural development in Asia Pacific is driving the demand for automotive chassis systems extensively, owing to the increasing need for HCVs, LCVs, and construction equipment vehicles. The growing demand for luxury and premium vehicles from the business-class customers in China and India is another factor, fueling the automotive chassis systems market in this region, notes the study.The rising production of automobiles in this region is likely to stimulate the Asia Pacific automotive chassis systems market, which is projected to exhibit the highest growth over the forecast period.
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The automotive chassis systems market in Europe has acquired the second position in the global market. The U.K., Germany, and France are the leading automotive chassis systems markets in Europe. The shift in consumer preference towards smaller and cleaner vehicles is the key driving force behind the growth of the Europe automotive chassis systems market, states the report.
The major players operating in the automotive chassis systems market are focusing significantly on R&D activities to produce innovative chassis systems that are light in weight and more durable. The recent most innovation in this market is of automotive chassis sensors that help in the detection of malfunctioning in any component of an automotive chassis system.Some of the key manufacturers of automotive chassis systems, mentioned in this research report are Robert Bosch GmbH, Continental AG, American Axle & Manufacturing, Benteler International AG, Magna International Inc., and ZF Friedrichafen.
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