The surging demand for new vehicles is propelling the demand for rolling chassis in the APAC Region!
- Himanshu Patni
- December 30, 2023
- AUTOMOTIVE, NEWS
- Bahrain Rolling Chassis Market, Kuwait Rolling Chassis Market, Middle East Rolling Chassis Market, Oman Rolling Chassis Market, Qatar Rolling Chassis Market, Rolling Chassis Market, Rolling Chassis Market Growth, Rolling Chassis Market Share, Rolling Chassis Market Size, Rolling Chassis Market Trends, Saudi Arabia Rolling Chassis Market, UAE Rolling Chassis Market
- 0 Comments
The rolling chassis market in the Asia Pacific region is anticipated to witness significant growth throughout the forecast period. Owing to the rising per capita GDP of the countries in the Asia Pacific hence improving the standard of living and increasing money in the hands of people, driving the consumption of the countries, boosting vehicle demand. Furthermore, the increasing adoption of electric vehicles in the Asia Pacific region is also contributing to the growth of rolling chassis, though as a percentage of total vehicles sold electric vehicle percentage is highest in Europe but the number of units sold in China is leading the pack and has emerged as a top producer and seller of electric vehicles in the world. The Asian countries are projected to produce almost 13 million electric vehicles in the year 2023, whereas, in 2022, china has sold roughly 52% of the total EVs produced in the world which amounts to almost 3.5 million units, India the number is currently at one-third of a million unit but was almost 168% growth from the previous year. Hence, looking at the size of the market that these emerging economies have, the size of the population with rising income and awareness, drives the demand for the vehicles in these economies, further fueling the growth of the rolling chassis market. For instance, China (from a previous 2020 expiration date) extended its NEV subsidy program through the end of 2022, albeit it has started to reduce basic subsidy amounts by 10%, 20%, and 30% per year. (between 2020 and 2022). Through the end of 2023, it also extended the exemption from purchase taxes for NEVs.
Access sample report (including graphs, charts, and figures) – https://univdatos.com/get-a-free-sample-form-php/?product_id=44529
The APAC Rolling Chassis market is expected to grow at a strong CAGR of around 8% during the forecast period (2022-2030). APAC is anticipated to emerge as the fastest-growing rolling chassis market primarily owing to the spur in demand for new passenger vehicles in China, India, and other emerging economies, coupled with increased government support for boosting the adoption rate, is working as a great support for the EV market to grow during the forecast period, which in turn will boost the demand for the rolling chassis in these regions.
FIG. 1 APAC Rolling Chassis Market Revenue (2020-2030)- USD Mn
For a detailed analysis of the Global Rolling Chassis Market browse through – https://univdatos.com/report/rolling-chassis-market/
“Amongst Chassis Types, the monocoque chassis segment holds the majority of the market share”
Based on chassis types, the market is segmented into backbone chassis, ladder chassis, tubular chassis, monocoque chassis, and others. The monocoque chassis segment is expected to witness significant CAGR growth during the forecast period. The primary factor contributing to this growth is it is the most common type of chassis that is used in modern passenger cars as they are lightweight and strong. Furthermore, the ability to dynamic forces is also very good when a vehicle drives around corners. Moreover, monocoque chassis are very safe because of their single-type construction. Additionally, because these are lightweight chassis it provides good fuel economy to the vehicle as well are also very cost-effective, helping in keeping the vehicle prices within budget.
Based on the material, the market is segmented into steel, aluminum, magnesium, advanced composite material, carbon fiber, and glass fiber composite. Traditionally, the most common material used for the vehicle chassis is steel which holds a prominent share of the market. The primary reason for steel’s widespread use in chassis construction is the availability of more easily and readily available steel. Moreover, the adoption of steel is high in the chassis industry due to its characteristics such as high thermal, chemical, and mechanical resistance, good manufacturing efficiency, and durability. Furthermore, with the innovations in steel, steel is becoming stronger, lightweight, and stiffer than earlier further boosting the demand. For instance, in January 2023, 3DEO launched 316l austenitic stainless steel in High-Volume Metal 3D Printing. The material exceeds MIM standards, making it an ideal material for medical, automotive, aerospace, and industrial markets
Global Rolling Chassis Market Segmentation
Market Insight, by Chassis Types
· Backbone Chassis
· Ladder Chassis
· Tubular Chassis
· Monocoque Chassis
· Others
Market Insights, by Application
· Steel
· Aluminium
· Magnesium
· Advanced composite material
· Carbon fiber
· Glass fibre composite
Market Insights, by Vehicle Type
· Small passenger vehicle
· Electric vehicle
· SUV
· Light commercial vehicle (LCV)
· Heavy commercial vehicle (HCV)
Market Insight, by Region
· North America
o U.S.
o Canada
o Mexico
o Rest of North America
· Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Rest of Europe
· APAC
o China
o India
o Japan
o South Korea
o Taiwan
o Australia
o Rest of APAC
· Rest of the World
Top Company Profiles
· Schaeffler AG
· BENTELER
· Robert Bosch GmbH
· Continental AG
· ZF Friedrichshafen AG
· Magna International Inc
· AISIN CORPORATION
· CIE Automotive
· Autokiniton
· AL-KO SE