The Global Automotive Chassis Market is projected to reach around USD 85.3 billion by 2027 at a CAGR of around 5.3%.
The automotive chassis is a frame on which various mechanical components such as tires, engine, brakes, axle assemblies, steering, and others are attached to support the main structure of the vehicle. Chassis are made of various materials like steel, aluminum, magnesium, titanium, composite plastics, and others. This system helps the vehicle to be stiff, rigid, and unbending and also provides the strength required to support the vehicular components.
Market Driver:
Automotive manufacturers are focusing on designing lightweight components that make the vehicle lighter and also helps in achieving low emission and fuel efficiency. The total weight of chassis accounts for about 30-40%, so the use of lightweight materials can decrease the overall cost of the vehicle. Materials like aluminum, magnesium, carbon fiber reinforced plastics (CFRP), bio composites involving bio fibers, lightweight polymer composites and titanium are used due to their lightweight, durability, and resistance to abrasion, among others. For instance, the current vehicle generation in Europe is 70-140 kg of weight reduction per car which results in saving 982 million liters’ fuel and about 2.3-million-ton reduction in CO2 Emissions.
Therefore, the increasing need for lowering CO2 emission is expected to drive market growth during the forecast period.
In 2018, India, Malaysia, Thailand, Russia and among others are the prominent countries that have shown positive growth of 8%, 12.2%, 9%, 13.9%, respectively. Due to the rise in vehicle production and economic growth in these regions, there will be an increase in demand for the automotive chassis market. Moreover, the rise in automobile production in developing nations has increased the usage of lightweight materials which is indirectly propelling the market growth.
Thus, the growing vehicle production is anticipated to boost the market growth during the forecast period.
Market Restraint:
The raw materials used for the manufacturing of the automotive chassis system consist of aluminum alloys, carbon steel, magnesium, and others. Price fluctuations of raw materials, uncertain shortages, and supply-demand gaps have a negative impact on automotive manufacturers. Moreover, the lack of a constant supply of raw materials results in increasing raw material prices which, escalates the overall product price.
Hence, the fluctuating raw material prices are expected to restrain the market during the forecast period.
The report on the automotive chassis market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
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Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
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Base Year for Market Calculation |
2019 |
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Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
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Measured Units |
Value (USD Million), Volume (Units) |
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Segments Included |
Type, Material, and Vehicle Type |
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Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Automotive Chassis Market, by Type
Automotive Chassis Market, by Material
Automotive Chassis Market, Vehicle Type
Automotive Chassis Market, by Region
Key Questions answered by the report
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE AUTOMOTIVE CHASSIS MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
