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Automotive Chassis Market to Witness Attractive Growth Opportunities by 2026; Increasing Demand for Light-weight and Fuel-efficient Vehicles to Propel the Growth

March 26, 2020 | Automotive & Transportation

The global automotive chassis market size is projected to exhibit a CAGR of 7.4% between 2019 and 2025. As per the report, the market size was USD 60.04 billion in the year 2018.  Fortune Business Insights in a new study, titled “Automotive Chassis Market Size, Share & Industry Analysis, By Type (Ladder, Monocoque, Compact Modular, Modular), By Vehicle Type (Passenger Car, LCV, HCV), and Regional Forecast, 2019-2026” predicts that the market is expected to prosper owing to the increasing focus on developing light-weight and fuel-efficient vehicles. Chassis system is light, ductile, and aerodynamic, supporting different body parts of the vehicle.


Automotive chassis system also helps in fault detection by automatically alerting the driver of any malfunction in the vehicle. Owing to these features, the quality of the vehicle is improved, which in turn, fuels the demand. The introduction of battery-driven and electric-driven vehicles has revolutionized the overall chassis industry. Light commercial and medium & heavy commercial vehicles are increasingly adopting different to make them fuel-efficient. As per the report, the light commercial vehicle (LCV) chassis market is projected to reach USD 16.53 billion by 2025, whereas heavy commercial vehicle (HCV) chassis system is expected to reach USD 11.49 billion by 2025. Another vehicle type called passenger cars are likely to cover the majority share in the market owing to the rising production of these cars.


As per the current automotive chassis market trends, ladder chassis held a share of 17.3% in 2018, whereas monocoque chassis is expected to hold the largest share in the global market in the forecast years. Other segments as per type includes ladder, compact modular, and modular are expected to register substantial growth in the forthcoming years.


The chassis market in North America was USD 11.07 billion in 2018 and is anticipated to be the largest producer of LCV in the forecast years. Other regions such as Asia Pacific, Europe, and the rest of the world are expected to witness huge growth opportunities in the market by 2025.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/automotive-chassis-market-101581


Rising Trend of Vehicle Weight Reduction to Stoke Demand for Chassis


The demand for high-performance and fuel-efficient vehicles is increasing among the masses. This is further putting emphasis on reducing the weight of vehicle, thereby improving its performance. This trend has compelled manufacturers to design new vehicles and chassis plays a crucial role in designing such light-weight and fuel-efficient vehicles. Another rising concern is the emission of harmful gases from the exhaust of the vehicle. Therefore, in order to monitor the emission control, manufacturers should design low-emission vehicles, which raises the need to design low-weight chassis. This new type of chassis will not only reduce the weight of the vehicle but will improve the fuel-efficiency by achieving lower emissions. Spurred by this, other automotive design companies are also planning to produce robust and lighter chassis systems. This, in turn, is expected to drive the automotive chassis market in the forthcoming years.


Increasing technological advancements and innovations in vehicles are fuelling demand for advanced chassis systems. For instance, AUDI AG manufactured a new car called Audi A6, which has a light-weight chassis and electric-assist steering. Such features can enhance the driving experience, which in turn, augments demand for luxurious vehicles. Hence, surge in innovation is likely to give push to the global market.


Schaeffler AG Acquired XTRONIC to Expand its Product Portfolio on Chassis Systems


As per the report, some of the leading players operating in the global market include Schaeffler, Continental, and ZF. These players are continuously putting efforts into research and development activities and heavily investing to produce fuel-efficient chassis, especially for electric-driven vehicles. Furthermore, companies are planning to revamp the design of chassis to accommodate batteries, while reducing the weight of the vehicle. The rising shift from conventional fuel to electric vehicles is expected to create attractive growth opportunities for new entrants. Companies are also adopting several strategies to stay ahead of competition and maintain their market position. For instance, Schaeffler AG announced the acquisition of XTRONIC GmbH in May 2019. This acquisition aims to expand the product division of chassis systems.


The global automotive chassis market can be segmented into the following categories:








































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Volume (Million Units) & Value(USD Billion)



Segmentation



By Type



  • Ladder

  • Monocoque

  • Compact Modular

  • Modular



By Vehicle Type



  • Passenger Car

  • LCV

  • HCV



By Geography



  • North America (U.S., Canada, Mexico)

  • Europe (U.K., Germany, France, and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea and Rest of Asia Pacific)

  • Rest of the World



 

Automotive Chassis Market
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