The global automobile chassis parts market is expected to grow at a remarkable rate in the next few years, according to a new report by SeeDance News. The report, titled “Automobile Chassis Parts Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2021-2028”, provides a comprehensive overview of the market dynamics, segmentation, regional analysis, competitive landscape, and key players in the industry.
What are Automobile Chassis Parts?
Automobile chassis parts are the components that support the body and engine of a vehicle. They include frames, axles, suspension systems, steering systems, brakes, wheels, tires, and other related parts. These parts are essential for the performance, safety, comfort, and durability of a vehicle.
The automobile chassis parts market is influenced by various factors, such as the increasing demand for passenger and commercial vehicles, the rising adoption of electric and hybrid vehicles, the stringent emission and fuel efficiency regulations, the technological advancements in chassis design and materials, and the growing consumer preference for high-performance and luxury vehicles.
How is the Market Segmented?
The report segments the global automobile chassis parts market based on type, application, and region. Based on type, the market is divided into ladder chassis, backbone chassis, monocoque chassis, tubular chassis, and others. Based on application, the market is categorized into passenger cars, light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), and others.
The report also provides a detailed analysis of the regional markets, covering North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. The report identifies the key drivers, restraints, opportunities, and challenges for each region and country.
Who are the Key Players?
The report profiles some of the leading players in the global automobile chassis parts market, such as GKN Automotive, ZF Friedrichshafen, August Bilstein, GSP, Schaeffler, Magna International, Hyundai Mobis, Continental AG, Benteler International, and AL-KO Kober. The report also provides information on their product portfolio, business strategies, financial performance, recent developments, and SWOT analysis.
What are the Key Findings?
The report highlights some of the key findings of the market research study, such as:
- The global automobile chassis parts market was valued at USD 66.5 billion in 2020 and is projected to reach USD 97.6 billion by 2028, growing at a CAGR of 4.9% during the forecast period.
- The monocoque chassis segment accounted for the largest share of the market in 2020 and is expected to maintain its dominance throughout the forecast period. This is attributed to its advantages such as lightweight, high strength, improved aerodynamics, and reduced noise and vibration.
- The passenger cars segment was the largest application segment in 2020 and is anticipated to grow at the highest CAGR during the forecast period. This is due to the increasing demand for passenger cars across the globe, especially in emerging economies such as China, India, Brazil, and Mexico.
- Asia-Pacific was the largest regional market in 2020 and is projected to witness the fastest growth rate during the forecast period. This is owing to the rapid industrialization and urbanization in the region, which has led to a surge in vehicle production and consumption. China was the leading country in terms of market size and growth rate in 2020.
- The global automobile chassis parts market is highly competitive and fragmented with several players operating at both global and regional levels. The key players are focusing on product innovation, expansion, mergers and acquisitions, partnerships, and collaborations to gain a competitive edge in the market.
