According to a
recent market research report published by Transparency Market
Research, the global automotive chassis systems market is
estimated to expand at a CAGR of 4.1% during the period between 2015
and 2021. The report, titled “Automotive
Chassis Systems Market - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast 2015 - 2021,” projects the
global automotive chassis systems market to be worth US$86.48 bn by
2021. The overall market stood at a valuation of US$65.50 bn in 2014.
Automotive chassis
system refers to the inner frame of a vehicle. Nowadays, consumers
prefer aerodynamic and ductile automotive chassis systems.
Aerodynamic chassis systems increase fuel efficiency of vehicles and
have superior quality designing. Advanced features in chassis systems
such as automatic fault detection alert drivers regarding any kind of
malfunction in the system.
The report states
that innovative product development and the introduction of advanced
features in automotive chassis system have boosted the growth of the
global automotive chassis systems market. Rapid expansion of the
infrastructure sector particularly in regions such as Asia Pacific
has further augmented the market’s growth. However, high cost of
research and development and the availability of non-standardized
products in the market will restrain the overall market during the
forecast horizon.
On the basis of
vehicle types, the report segments the global automotive chassis
systems market into ICVs, LCVs, HCVs, cars, off road vehicles,
defense vehicles, construction equipment vehicles, and farm tractors.
Passenger cars hold the majority of the market owing to the growing
demand from Asia Pacific and North America.
The report studies
the global automotive chassis systems market across four key regions:
Europe, North America, Asia Pacific, and Rest of the World. Europe
was the largest market for automotive chassis systems in 2014 due to
the rising demand among customers for smaller and cleaner vehicles.
During the forecast horizon, factors such as usage of upgraded
aerodynamic designs and composite compounds for reducing weight of
vehicles and downsizing of chassis will propel the growth of the
market in the region.
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Asia Pacific has
emerged as one of the most lucrative regions for the market due to
the growing demand for automotive chassis systems across India,
China, and Japan. In Asia Pacific, there is a growing trend of owing
private vehicles due to rise in disposable income. Purchasing of
vehicles has also become easier with easy availability of finance.
All these factors will contribute towards the growth of the Asia
Pacific automotive chassis systems market.
Describing the
competitive hierarchy, the report profiles some of the prominent
players operating in the global automotive chassis systems market
such as Robert Bosch GmbH, Benteler International AG, Continental AG,
Magna International Inc., American Axle & Manufacturing, and ZF
Friedrichshafen. The report offers detailed information about the key
players including their company overview, financial overview,
revenue, business strategies, and recent developments.
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