The report of global Automotive Chassis Systems market by Chassis Type (Backbone Chassis, Ladder Chassis, Monocoque Chassis, Modular Chassis), Material Type (AL Alloy, Carbon Fiber Composite, HSS (High-Speed Steel), MS (Mild Steel), Component (Suspension Ball Joints, Cross-axis Joints, Tie-rods, Stabilizer Links, Control arms, Knuckles & Hubs), Manufacturing Process (Hydro-Forming, Stamping, Laser Cutting, Welding), Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), Electric Vehicle Type (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Vehicle), and Region (Asia Pacific, North America, Europe, Latin America, and Middle East Africa) is expected to reach US$ XX Bn by 2027, at a CAGR of 6.5% during a forecast period.
Chassis is the internal frame made of composite components that support all the body parts of the vehicle. The global automotive chassis systems market is driven by the rise in automobile production, increasing demand for vehicles with low emission and fuel-efficient. However, unstable prices of raw material, complications related to sharing mobility may restrain the market growth at the global level. Change in material for rendering benefit and in-house production of chassis systems are the major challenges for the automotive chassis systems market in the near future.
Aluminum alloy segment is expected to grow at the highest XX% CAGR during the forecast period.
In 2019, the aluminum alloy segment has dominated the Automotive Chassis Systems market and is estimated to grow at a CAGR of XX% during the forecast period. Aluminum is widely utilized in chassis and body structure manufacturing, which reduces the weight of the vehicle. Its significant characteristics make it reliable for chassis such as high specific energy absorption, low weight, precise strength, and corrosion resistance. Lightweight metals can increase fuel efficiency as compared to other factors.
The Asia Pacific dominated the automotive chassis systems market in 2019
In 2019, Asia Pacific held the XX% share of the Automotive Chassis Systems market and is expected to maintain its dominance during the forecast period. In recent years, demand for lighter weight chassis has exponentially increased, revival of the economy with rapid industrialization in developing countries are fuelling the Asian market growth in the near future. China and India are leading contributing to the regional automotive chassis system market growth owing to rising domestic demand for vehicles and growth in the automotive industry in these countries.
Key players operating the global automotive chassis systems market are ZF Friedrichshafen AG, American Axle & Manufacturing Inc., Continental AG, Gestamp Automocin S.A., Schaeffler AG, Magna International Inc., CIE Automotive, Aisin Seiki Co., Ltd., Hyundai Mobis Co., Ltd, Tower International, Inc., AL-Ko, Benteler International AG, F-Tech, KLT-Auto, and Robert Bosch GmbH.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Automotive Chassis Systems Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Automotive Chassis Systems Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Automotive Chassis Systems Market positioning of competitors.
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