Automotive Chassis Systems Market Size Worth $ 141.3 Billion By 2032 | CAGR 5.09%


(MENAFN- IMARC Group) The latest report by IMARC Group, titled“ Automotive Chassis Systems Market Report by Component (Control Arms, Tie-Rods, Stabilizer Links, Suspension Ball Joints, Cross-Axis Joints, Knuckles and Hubs, and Others), Chassis System (Rear Axle, Front Axle, Corner Modules, Active Kinematics Control, and Others), Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Construction Equipment Vehicles, Defense Vehicles, and Others), and Region 2024-2032 ”, offers a comprehensive analysis of the industry, which comprises insights on the market. The global automotive chassis systems market size reached US$ 89.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 141.3 Billion by 2032, exhibiting a growth rate (CAGR) of 5.09% during 2024-2032.

Factors Affecting the Growth of the Automotive Chassis Systems Industry:

  • Increasing Demand for Safety and Comfort:

Consumer expectations for safety and comfort have significantly influenced the development of advanced automotive chassis systems. There is a growing demand for vehicles equipped with advanced driver-assistance systems (ADAS) and other safety features that require integration with the chassis for optimal performance. For instance, technologies like electronic stability control, anti-lock braking systems, and adaptive suspension systems rely on sophisticated chassis designs to function effectively. Additionally, consumers are increasingly seeking vehicles that offer a smoother ride, necessitating innovations in chassis design that can absorb vibrations and reduce noise. This focus on enhancing the driving experience has led to the adoption of active and adaptive chassis systems, which automatically adjust to driving conditions, thereby driving the market for more technologically advanced chassis systems.

  • Demand for Electric Vehicles:

The global shift toward electric vehicles (EVs) is another critical factor driving the automotive chassis systems market. As the automotive industry moves away from internal combustion engines, the design and manufacturing of chassis systems have had to adapt to accommodate the unique requirements of electric powertrains. This includes the integration of battery packs, electric motors, and other EV-specific components. The need for chassis designs that can support the weight distribution, cooling requirements, and structural integrity necessary for EVs has led to new innovations in chassis technology. Moreover, the electrification trend is encouraging the development of modular chassis systems that can be adapted across different vehicle models and types, enabling manufacturers to scale production and meet the growing demand for electric vehicles efficiently.

  • Technological Advancements:

The automotive industry's ongoing quest for fuel efficiency and reduced emissions has made the development and integration of lightweight materials into chassis systems a pivotal driver. Materials such as aluminum, magnesium, carbon fiber, and high-strength steel are increasingly favored over traditional steel and iron components. These materials offer the dual benefits of reducing the overall vehicle weight, significantly improving fuel efficiency, and enhancing the vehicle's performance in terms of acceleration, handling, and braking. Furthermore, lightweight chassis contribute to lower CO2 emissions, aligning with global environmental regulations and consumer demand for greener vehicles. Automotive manufacturers and suppliers are investing heavily in research and development to innovate lightweight, durable chassis systems that do not compromise on safety or performance, thereby propelling the market forward.

For an in-depth analysis, you can request a sample copy of the report: https://www.imarcgroup.com/automotive-chassis-systems-market/requestsample

Competitive Landscape:

The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.

  • 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
  • ZF Friedrichshafen AG

Automotive Chassis Systems Market Report Segmentation:

By Component:

  • Control Arms
  • Tie-Rods
  • Stabilizer Links
  • Suspension Ball Joints
  • Cross-Axis Joints
  • Knuckles and Hubs
  • Others

Control arms dominate the market as they are essential components of the automotive suspension system, contributing to vehicle stability, handling, and ride comfort.

By Chassis System:

  • Rear Axle
  • Front Axle
  • Corner Modules
  • Active Kinematics Control
  • Others

Real axle accounts for the largest market share as they come in various configurations, including solid axles, independent suspensions, and semi-independent suspensions, each offering unique benefits in terms of performance, comfort, and handling.

By Vehicle Type:

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Construction Equipment Vehicles
  • Defense Vehicles
  • Others

Passenger cars dominate the market due to new vehicle sales, vehicle electrification trends, regulatory requirements for emissions and safety, and consumer preferences for enhanced driving performance and comfort features.

Regional Insights:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Asia Pacific's dominance in the automotive chassis systems market is attributed to rapid urbanization, rising disposable incomes, and increasing demand for passenger and commercial vehicles.

Global Automotive Chassis Systems Market Trends:

Presently, the shift toward electric vehicles (EVs) and hybrid vehicles is driving the demand for lightweight chassis systems. Manufacturers are increasingly utilizing lightweight materials such as aluminum, high-strength steel, and composite materials to reduce vehicle weight, extend battery range, and improve overall efficiency. Besides, the integration of ADAS features such as adaptive cruise control, lane-keeping assist, and autonomous emergency braking requires sophisticated chassis systems to support these functionalities. Chassis components such as electronic stability control (ESC), steering systems, and suspension systems play a crucial role in enabling safe and reliable operation of ADAS technologies.

Ask Analyst for Customization: https://www.imarcgroup.com/request?type=report&id=5658&flag=C

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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