Global Automotive Active Chassis System Market 2018-2022 | Evolving Consumer Needs and Growing Competition to Boost Demand | Technavio
LONDON--(BUSINESS WIRE)--Dec 3, 2018-- analysts forecast the global automotive active chassis system market to grow at a CAGR of nearly 8% during the forecast period, according to their latest market research report.
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Technavio has released a new market research report on the global automotive active chassis system market for the period 2018-2022. (Graphic: Business Wire)
Developments in the field of automotive active chassis system is one of the major trends being witnessed in the . The automotive active chassis system is witnessing developments in the form of further improvements and enhancement to system design and functions. The vendors operating in the concerned market along with automotive OEMs have been investing extensively in R&D to launch advanced versions of automotive active chassis system. Such trends in the global automotive active chassis system market are helping in driving the growth of the automotive active chassis system market.
According to Technavio analysts, one of the key factors contributing to the growth of the global automotive active chassis system market is the evolving consumer needs and growing competition in the global automotive market:
Global automotive active chassis system market: Evolving consumer needs and growing competition in the global automotive market
The global automotive market is rapidly evolving as the automobiles are becoming advanced due to the developments in automotive technology. Moreover, the continuously evolving consumer needs and expectations are intensifying the competition in the automotive market, which has resulted in a reduction in the product lifecycle. Additionally, the emergence of numerous models under different segments and categories allows consumers to choose from multiple products options.
According to a senior analyst at Technavio for research on automotive components, “The customer expectations from the automobiles have increased, which has made it imperative for the automakers to focus on product differentiation specifically. The competition is expected to intensify as automakers continue to launch automobiles equipped with advanced features to cater to the growing customer expectations. Thus, such factors are acting as market drivers for the growth of advanced automotive systems in terms of penetration.”
Global automotive active chassis system market: Segmentation analysis
The global automotive active chassis system market research report provides market segmentation by applications (SUV and sedan) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The sedan segment held the largest market share in 2017, accounting for nearly 68% of the market. This application segment is expected to dominate the global market throughout the forecast period.
EMEA led the market in 2017 with a market share of nearly 44%. This region is expected to dominate the market through 2022, however, there will be a decrease in its market share by over 3%.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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