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.
Safety of the passengers traveling in the vehicle is constantly improving with time. Usage of better composite materials increasingly makes vehicles safer and lighter than before. Companies are constantly focusing on research and development to improve the design of the vehicle chassis so that it is better equipped to handle the impact at the time of the crash. Added protection is provided with the help of beams to the areas in chassis which are more prone to impact at the time of crash. Furthermore, manufacturers are focusing on innovating components with higher resistance to deformation. Constant improvement in safety of the passengers traveling in the vehicle is expected to be a key opportunity in driving the automotive chassis system market.
Based on the types of vehicles, the automotive chassis system market has been segmented into passenger cars, LCVs, ICVs, HCVs, off-road vehicles, construction equipment vehicles, defense vehicles, and farm tractors. The passenger cars segment held the largest share of the automotive chassis system market in terms of revenue in 2014. Off-road vehicles such as dirt bikes and ATVs are popular among adventure lovers in North America and Europe. Furthermore, several sports activities are organized globally. This boosts the demand for off-road vehicles. LCVs was the third largest segment of the automotive chassis system market, as these are the most preferred type of vehicles used for commercial purposes.
Heavy commercial vehicles, also known as multi-axle vehicles, have overall payload capacity of above 16.2 tons. These vehicles are the lifeline of commercial activities and form an integral part of the economy. Emerging economies such as India and China have been experiencing rapid infrastructure development over the past few years. This has increased the demand for HCVs to transport heavy construction equipment and materials. Demand for HCVs is high for the transportation of heavy goods across long distances in the manufacturing and construction sectors. These are the major factors driving the HCV segment.
Geographically, the global automotive chassis system market has been segmented into four major regions: North America, Europe, Asia Pacific and Rest of the World (RoW). Europe dominated the automotive chassis system market in 2014. Asia Pacific is the most attractive region in the automotive chassis system market. Presence of countries like China, India and Japan is driving the market in the region.
The development of the real estate industry has fueled the demand for heavy vehicles in the region. Moreover, the rise of the business class in the region is driving the demand for luxury and premium segment cars. China and India enjoys a distinct competitive advantage in terms of quality and cost and this has prompted all the major players in the automotive industry market to setup their manufacturing facility in the region. This is expected to drive the automotive chassis system market further in Asia Pacific.
Some of the major players operating in the global automotive chassis system market are Continental AG (Germany), Robert Bosch GmbH (Germany), American Axle & Manufacturing (U.S.), Benteler International AG (Germany) and ZF Friedrichafen (Germanys).
This report provides strategic analysis of the global automotive chassis system market and the growth forecast for the period 2014 to 2021. The report covers competitive analysis of various market segments based on components, chassis system and vehicle type and an in depth cross sectional analysis of the automotive chassis system is provided across different geographic segments.
This market research study analyzes the automotive chassis systems market on a global level and provides estimates in terms of revenue (USD billion) from 2015 to 2021. It gives a comprehensive overview of the automotive chassis systems market from all the important aspects of the market. It recognizes the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it identifies the significant opportunities for market growth in the coming years.
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. 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. Latest innovative features such as automotive chassis sensors for the detection of any kind of malfunctioning of any of the components used in the automotive chassis systems are further driving the market. Moreover, India, Japan and China are further boosting the market with the production of huge number of vehicles in the Asia Pacific region. Europe followed Asia Pacific in terms of market attractiveness. Presence of countries like UK, France and Germany has lead to considerable growth in the automotive chassis systems market due to change in preference of customers towards smaller and cleaner vehicles. Moreover the downsizing of chassis, use of upgraded aerodynamic designs is further driving the automotive chassis system.
This report provides strategic analysis of the automotive chassis systems market and the growth forecast for the period 2015 to 2021. The duration of the report covers competitive analysis of various market segments based on the types, module and in-depth cross sectional analysis of the automotive chassis system market across different geographic segments. To support the strategic decision making, the report also includes profiling of leading players in the industry, their market share and various strategies adopted by them. Market attractiveness analysis included in the report provides insight into market dynamics and industry competition.
The report also provides company market share analysis of the various industry participants along with company overview, financial overview, business strategies and recent developments in the field of automotive chassis system market. Major market participants profiled in this report include Continental AG, Robert Bosch GmbH, American Axle & Manufacturing Inc, Magna International Inc., Benteler International AG., ZF Friedrichshafen.
The automotive chassis system market has been segmented as follows:
Automotive Chassis Systems Market: By Geography
- North America
- Asia Pacific
- Rest of the World
The report provides a cross-sectional analysis of all the below segments with respect to the above mentioned regions.
Automotive Chassis Systems Market: By Components
- Suspension ball joints
- Cross-axis joints
- Stabilizer Links
- Control arms
- Knuckles and Hubs
Automotive Chassis Systems Market: By Chassis System
- Front axles
- Rear axles
- Corner modules
- Active Kinematics Control
Automotive Chassis System Market: By Vehicle Type
- Off Road Vehicles
- Construction Equipment
- Defense Vehicles
- Farm Tractors