LONDON--(BUSINESS WIRE)--The global automotive chassis market is expected to post a CAGR of close to 4% during the period 2018-2022, according to the latest market research report by Technavio. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
A key factor driving the growth of the market is the advanced chassis design that leads to weight reduction of vehicles. Weight reduction has become a crucial factor for automotive OEMs while designing new models. The growing demand for efficient and high-performance vehicles has made weight an important parameter as weight reduction significantly enhances a vehicle’s performance. In addition, this trend is more visible in EVs, where manufacturers constantly look for weight reduction as a medium to increase the mile range. Chassis consists of engine, brakes, steering system, and wheel mounted on the frame, differential, and suspension. Therefore, it forms a crucial part of the vehicle, and conventional chassis tend to be heavier, which impacts the vehicle’s performance.
This market research report on the global automotive chassis market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the development of multi-material chassis construction as one of the key emerging trends in the global automotive chassis market:
Global automotive chassis market: Development of multi-material chassis construction
The automotive industry is witnessing ideas related to vehicle weight reduction as pressure from regulators and growing customer demands is mounting on the automotive OEMs. Advanced materials like aluminum, carbon fiber, and magnesium are considered ideal materials for chassis manufacturing to reduce weight and maintain durability, compared to conventional steel-based chassis. The latest development is in the form of multi-material chassis, which does not rely on single material for chassis manufacturing.
“Companies such as Audi, have adopted the industry-first chassis development in the automotive industry. It has introduced multi-material chassis. Audi spaceframe chassis incorporated magnesium, aluminum, and CFRP, along with conventional steel throughout its structure. Aluminum comprised the largest portion of the chassis with 58%,” says a senior analyst at Technavio for research on automotive manufacturing.
Global automotive chassis market: Segmentation analysis
This market research report segments the global automotive chassis market by vehicle type (passenger cars and commercial vehicles).
The passenger cars segment held the largest market share in 2017, accounting for nearly 77% of the market. This vehicle type segment is expected to dominate the global market throughout the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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