Magna International (Canada) and ZF Friedrichshafen AG (Germany) are the global players in the Automotive Chassis Market
The global automotive chassis systems market is estimated to be USD 50.78 Billion in 2017 and is projected to reach USD 78.44 Billion by 2025, growing at a CAGR of 5.59% from 2017 to 2025. Asia Pacific and North America are the key contributors to the growth of the automotive chassis systems market.
The key strategy adopted by players to gain traction in the automotive chassis systems market is new product development using lighter materials, which accounted for approximately 50% of all the strategies adopted by companies from 2015 to 2017. For instance, in March 2017, Magna International, one of the leading suppliers of automotive chassis, developed a lightweight subframe made of carbon fiber composites. This subframe reduces the mass by 34% and number of parts by 87%. It replaces 45 steel parts with two molded and four metallic parts. Thus, it makes the chassis lighter and helps the vehicle become lighter and fuel efficient.
Companies operating in the automotive chassis systems market also followed the strategy of collaboration and partnerships with technology companies, suppliers, and OEMs. For instance, in 2016, Schaeffler raised a funding of USD 4 million from Federal Ministry of Education and Research (Germany) for its OmniSteer project. This project intends to develop an innovative chassis system with wheels that can be steered individually, thereby increasing maneuverability and efficiency, particularly in flowing urban traffic.
The automotive chassis systems market is dominated by global players such as Continental (Germany), ZF (Germany), Magna (Canada), Schaeffler (Germany), Aisin Seiki (Japan), CIE Automotive (Spain), Benteler (Germany), Hyundai Mobis (South Korea), and AL-KO (Germany).
Magna International (Canada) is focusing on strategies of innovation and acquisition, which would help increase its geographical presence with an innovative product portfolio. In 2017, Magna International developed a lightweight subframe for vehicles. Magna’s innovation will make the vehicle lighter and help improve its efficiency.
ZF Friedrichshafen AG (Germany) is another key supplier in the automotive chassis systems market. The company supplies chassis, powertrain, and other automotive components for the global market. In April 2017, the company opened a new manufacturing facility in Shanghai, China. This facility would be dedicated to developing innovative driveline and chassis technologies for all types of vehicles. This facility will help ZF Friedrichshafen AG to strengthen its presence in the Asia Pacific market.
Related Reports:
Automotive Chassis Market by Chassis Type (Backbone, Ladder, Monocoque, Modular), Material (Steel, Aluminum Alloy, Carbon Fiber Composite), Electric Vehicle (BEV, PHEV, HEV), Vehicle Type (PC, CV), and Region - Global Forecast to 2025
Contact:
Mr. Rohan
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
SEND ME A FREE SAMPLE
