Automotive Chassis Systems Market Overview:
Global automotive chassis systems market would reach $97 billion by 2022 from $71 billion in 2015 growing at a CAGR of 4.5% from 2016 to 2022. Chassis is the internal frame that supports all the body parts of the vehicle. It is expected to be light and sturdy. The systems integrate the functions of all the vehicles and have enhanced aerodynamic quality to improve the fuel efficiency and design. Automatic fault detection, which notifies the driver about malfunction, is an additional feature available in the chassis systems.
Rise in demand of the chassis systems with increase in sales of automobiles worldwide, rise in infrastructure facility, overall development of automobile industry, and change in the consumer preference led by product innovation are the main factors that drive the market. Researching for new technologies for chassis manufacturing capability improvement and no demand for standardization of the system, which makes way for new entrants to enter the market without much R&D investment, are expected to provide opportunities for market growth. However, extensive expenditure by the companies on R&D of the new chassis system restrains growth.
The global automotive chassis systems market is segmented on the basis of components type, chassis systems type, vehicle type, and geography.
Global automotive chassis systems segmentation
TOP FACTORS IMPACTING GLOBAL AUTOMOTIVE CHASSIS SYSTEMS MARKET
Change in preference of automobile manufacturers
The automobile manufacture preference has changed radically in last couple of years owing to the increase in consumer concern related to the pollution and introduction of norms concerning fuel efficiency of the vehicles. Moreover, the increase in emphasis on the environmental pollution by the organizations of the government also influence the market dynamics. Hence, these factors similarly affect the chassis systems that are modified to meet high standard and increased efficiency requirements.
Large expenditure on R&D
Development in technology and demand for automobiles drive the industry. The technological advancements can be gained through extensive research and product differentiation. Companies have increased their research budget which is expected to fuel the market.
The report provides a comprehensive analysis of the major market players that include Continental AG, Robert Bosch GmbH, American Axle & Manufacturing, Magna International Inc., Benteler International AG, ZF Friedrichafen, Aisin Seiki Co., Schaeffler AG, Hyundai Mobis, and Gestamp Automocion SA to highlight the top winning strategies.
Top Winning Strategies
At present, growth strategies such as expansion, product launch, partnership, and acquisition are adopted by key market players to remain competitive in the market. Automotive chassis systems market is largely driven by expansion and product launch strategies. For instance, ZF Friedrichafen announced its expansion into Iraq on June 15, 2016, following the ease of economic sanctions on Iraq at the beginning of this year. On May 31, 2016, American Axle and Manufacturing announced opening of its new plant in Poland to expand its footprint in Eastern Europe.
TOP WINNING STRATEGIES GLOBAL AUTOMOTIVE CHASSIS SYSTEMS MARKET
AUTOMOTIVE CHASSIS SYSTEMS MARKET KEY BENEFITS
- The study provides an in-depth analysis of the global automotive chassis systems market to elucidate the prominent investment pockets.
- Current trends and future estimations are outlined to determine the overall market scenario and to single out profitable trends to gain a stronger foothold in the market.
- The report provides information regarding key drivers, restraints, and opportunities with impact analysis.
- Geographically, the market is analyzed based on four regions, namely, North America, Europe, Asia-Pacific, and LAMEA
AUTOMOTIVE CHASSIS SYSTEMS MARKET SEGMENTATION
- Stabilizer Links
- Suspension Ball Joints
- Cross-Axis Joints
- Control Arms
- Knuckles And Hubs
BY VEHICLE TYPE
- Light Commercial Vehicles
- Intermediate Commercial Vehicles
- Heavy Commercial Vehicles
- Off-Road Vehicles
- Construction Equipment
- Defense Vehicles
- Farm Tractors
BY CHASSIS SYSTEMS TYPE
- Front Axle
- Rear Axle
- Corner Modules
- Active Kinematics Control
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
- Continental AG
- Robert Bosch GmbH
- American Axle & Manufacturing
- Magna International Inc.
- Benteler International AG
- ZF Friedrichafen
- Aisin Seiki Co.
- Schaeffler AG
- Hyundai Mobis
- Gestamp Automocion SA