Automotive Chassis Systems Market- Global Industry Analysis and Forecast 2021

The global automotive chassis systems market is characterized by increasing intensity of competition over the years on account of the demand for products with high-end components, finds Transparency Market Research (TMR). Top players in the automotive chassis systems market are increasingly focusing on constant technological advancements to meet the current demand. Recent industry initiatives include rising volumes of investments in research and development of high-performing automotive chassis sensors. TMR notes that several players are increasingly focusing on light-weight and more durable automotive chassis systems to meet wide diversity of emerging end-user needs. This has helped them gain a better foothold in the global automotive chassis systems.

Some of the key prominent players operating in the automotive chassis systems market are ZF Friedrichafen, Magna International Inc., Benteler International AG, American Axle & Manufacturing, and American Axle & Manufacturing.

The global automotive chassis systems market stood at US$65.5 billion in 2014. Rising at a CAGR of 4.10% during 2015–2021, the global automotive chassis systems market is projected to reach a worth of US$86.4 billion by 2021 end.

Among the various vehicle types, passenger cars have emerged out as the major consumer in the global automotive chassis systems market. The vast uptake automotive chassis systems in passenger cars is attributed to the large demand for advanced automotive in passenger cars.

Among the various regional markets for automotive chassis systems, Asia Pacific has been the most attractive segment and it presently accounts for the major share. The growth is driven by burgeoning sales of construction equipment vehicles, HCVs, and LCVs in the region. The rising demand for luxury and premium vehicles in the emerging economies is boosting the regional market.

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