Automotive Chassis Systems Market — Dynamics, Comprehensive Analysis, Business Growth, Prospects and Opportunities 2021

The automotive chassis systems market is facing a growing demand for lighter and stronger chassis systems. Chassis system made of composite components which would make the chassis lighter and stronger and aerodynamic are some of the key factors in driving the automotive chassis systems market. Light weight and aerodynamic chassis system also enhance the fuel efficiency of the vehicle.
Companies manufacturing automotive chassis systems constantly invest in research and development activities for the purpose of innovating new composite materials, which are a mixture of more than one element and are stronger and lighter than traditional components. These chassis systems are much lighter in weight and safer than ordinary chassis systems.

Reduction in weight significantly enhances the fuel efficiency of the vehicle. Thus, innovation of this new type of composite material for the manufacture of automotive chassis system is a major driver for the automotive chassis system market. Polymer Matrix Composite, Metal Matrix Composite and Ceramic Matrix Composite are some of the composite materials that have been recently used in the manufacture of chassis components.

Automotive chassis systems market can be segmented by components into Suspension ball joints, Cross-axis joints, Tie-rods, Stabilizer links, Control arms, Knuckles and Hubs. By type of chassis system the automotive chassis systems can be segmented into Front axles, Rear axles, Corner modules and Active kinematics control.

By vehicle type the chassis system can be segmented into cars, LCV’s, ICV’s, HCV’s, Off Road Vehicle, Construction Equipment Vehicles and Farm Vehicles. The automotive chassis systems refer to the inner frame of a vehicle. By geography, the market has been segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). The present market size and forecast till 2021 have been given in the report.

Demand for lighter and stronger chassis system is driving the automotive chassis systems market. The reduction in the weight of the automotive chassis system would also increase the fuel efficiency of the vehicle. Innovative product development and latest features in automotive chassis system are the key features driving the automotive chassis systems market.

Asia Pacific is one of the most attractive regions in automotive chassis systems market. Asia-Pacific is experiencing a steep growth and has been the largest contributor to the growth of the automotive chassis systems market in 2014 globally. Japan dominates the luxury car segment while India is a potential market. There is a strong focus on infrastructure development in Asia-Pacific, which is driving the automotive chassis system market as LCV’s, HCV’s and construction equipment vehicles are required for construction activities and for carriage of goods from one location to other.

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Moreover, the growing business class in China and India is fueling the demand for luxury and premium segment vehicles. Manufacturers of automotive chassis are investing significantly in research and development for innovation of the latest composite components. This would help the manufacturer of automotive chassis systems in manufacturing chassis systems that are lighter and stronger.

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