Automotive Chassis Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Automotive Chassis Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

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

Breakup by Chassis System:

Rear Axle
Front Axle
Corner Modules
Active Kinematics Control
Others

Breakup by Vehicle Type:

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

Breakup by Region:

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

Competitive Landscape:
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.

Key Questions Answered in This Report

1. How big is the global automotive chassis systems market?
2. What is the expected growth rate of the global automotive chassis systems market during 2023-2028?
3. What are the key factors driving the global automotive chassis systems market?
4. What has been the impact of COVID-19 on the global automotive chassis systems market?
5. What is the breakup of the global automotive chassis systems market based on the component?
6. What is the breakup of the global automotive chassis systems market based on the chassis system?
7. What is the breakup of the global automotive chassis systems market based on the vehicle type?
8. What are the key regions in the global automotive chassis systems market?
9. Who are the key players/companies in the global automotive chassis systems market?