The automotive chassis market refers to the industry involved in the production and sale of chassis systems for vehicles. The structural framework that connects and supports all a vehicle's key parts is called the automotive chassis. It covers the steering, braking, and suspension systems. The chassis controls the vehicle's stability, weight distribution, and general handling. It is essential in determining how well the car performs, is safe, and rides. The chassis design also affects fuel economy and emissions through aerodynamics optimization and the use of lightweight materials. The automotive chassis is a crucial part of every vehicle since it provides the framework on which the body and other components are constructed.
A vehicle's weight affects how much hazardous gas it emits from its exhaust and how much gasoline it uses. Governments in nations including the UK, India, Germany, and China have enacted stringent restrictions to control emissions, increasing the demand for fuel-efficient and low-emission automobiles. Making lightweight chassis systems for automobiles is one approach to do this. Several automotive design and engineering firms are concentrating on developing sturdy and lightweight chassis to reduce vehicle weight, improve fuel efficiency, and adhere to environmental rules. For instance, in October 2018, a brand-new, lightweight aluminum iStream chassis by Gordon Murray Automotive was created and was ideal for several automobile applications. Due to the rising need for fuel-efficient and low-emission automobiles, this innovation has helped the automotive chassis market expand. To reduce vehicle weight, which resulted in lower emissions of hazardous gases and better fuel economy, the manufacture of lightweight chassis systems had become crucial. As a result, numerous automobile design and engineering firms developed stronger and lighter chassis systems to satisfy consumer demand.
The COVID-19 pandemic has had a negative impact on the automotive chassis market, causing a considerable drop in vehicle production and sales because of supply chain disruptions and the temporary closure of manufacturing facilities. Due to the need to reduce production and staff, several manufacturers have seen a decrease in demand for chassis systems. In addition, the pandemic-related economic crisis has lowered consumer spending on cars, negatively impacting the chassis systems market. Given the persisting difficulties caused by the pandemic, the market is anticipated to gradually recover, although the amount and speed of the recovery remain uncertain. For instance, many companies started laying off employees during the pandemic, which eventually resulted in a downturn in sales of cars and impacted the sales of automotive chassis sales.
Asia Pacific is expected to witness significant growth in the automotive chassis market due to the presence of some of the biggest and fastest-growing economies in the world, including China, India, and Japan, which are also among the most prominent automotive markets globally. Automakers are ramping up production and introducing new vehicle models to meet this rising demand, propelling the chassis systems market. The region is also home to several of top automakers, suppliers, and Tier 1 firms that are essential in fostering market expansion. With the expanding demand for vehicles and the uptake of cutting-edge technology and materials in the automotive industry, Asia Pacific is likely to continue to hold a significant share of the market over the forecast period.
By Chassis Type
Suspension Ball Joints
Knuckles & Hubs
By Vehicle Type
Heavy Commercial Vehicle
Light Commercial Vehicle
Construction Equipment Vehicles
American Axle & Manufacturing, Inc.
Magna International Inc.
ZF Friedrichshafen AG
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