The global automotive chassis systems market size reached US$ 84.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 117.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.47% during 2023-2028.
Automotive chassis systems are internal frames that support the vehicle's body parts and are used to grip steering systems and suspension systems. The systems are manufactured using a magnesium alloy, steel, cast iron, and ferrous metal. Backbone, monocoque, ladder, and modular are some of the common types of automotive chassis. They consist of an engine, power-suspension system, brakes, and a structurally independent frame. Automotive chassis systems are widely used to provide strength and support to various vehicular components and keep automobiles rigid and stiff. Control arms, suspension links, knuckles, and hubs are some of the major components of the automotive chassis system. As a result, they are widely used in agricultural equipment, passenger vehicles, construction equipment, light commercial vehicles (LCV), and heavy commercial vehicles (HCV).
Automotive Chassis Systems Market Trends:
Significant growth in the automotive industry across the globe is creating a positive outlook for the market. Automotive chassis systems are widely used to enhance the safety aspect of the vehicle as they are light, aerodynamic, and ductile. Moreover, various product innovations, such as the development of naturally weighted electric-assist steering and dynamic chassis mode, are providing an impetus to the market growth. Additionally, the widespread adoption of modular and compact chassis systems due to the increasing demand for electric vehicles (EVs) is positively impacting the market growth. Other factors, such as the surging demand for fuel-efficient vehicles and the implementation of various government initiatives for emission control, are anticipated to drive the market growth. Apart from this, the rising demand for low emission and fuel-efficient vehicles and rapid technological advancements in the chassis systems by key players are contributing to the market growth further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive chassis systems market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, chassis system and vehicle type.
Breakup by Component:
- Control Arms
- Stabilizer Links
- Suspension Ball Joints
- Cross-Axis Joints
- Knuckles and Hubs
Breakup by Chassis System:
- Rear Axle
- Front Axle
- Corner Modules
- Active Kinematics Control
Breakup by Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Construction Equipment Vehicles
- Defense Vehicles
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aisin Corporation, American Axle & Manufacturing Inc, Autokiniton US Holdings Inc., Benteler International AG, Continental AG, Gestamp Automoción S.A., Hyundai Mobis Co. Ltd, Magna International Inc, Robert Bosch GmbH, Schaeffler AG and ZF Friedrichshafen AG.
|Base Year of the Analysis
||Component, Chassis System, Vehicle Type, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Aisin Corporation, American Axle & Manufacturing Inc, Autokiniton US Holdings Inc., Benteler International AG, Continental AG, Gestamp Automoción S.A., Hyundai Mobis Co. Ltd, Magna International Inc, Robert Bosch GmbH, Schaeffler AG and ZF Friedrichshafen AG
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Key Questions Answered in This Report:
- How has the global automotive chassis systems market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global automotive chassis systems market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the chassis system?
- What is the breakup of the market based on the vehicle type?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global automotive chassis systems market and who are the key players?
- What is the degree of competition in the industry?