INTELLIGENT CHASSIS MARKET REPORT OVERVIEW
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The global intelligent chassis market size was USD 6629 million in 2022 and the market is projected to touch USD 16890 million by 2029, at CAGR of 14.0% during the forecast period.
Intelligent chassis refers to a technological advancement in the automotive industry that integrates various sensors, controllers, and actuators within a vehicle’s chassis system. This integration enables the optimization of vehicle performance, safety, and comfort by continuously monitoring and adjusting various parameters such as suspension, braking, powertrain, and steering. The rising focus on connected vehicles and smart transportation systems is also fuelling the demand for intelligent chassis technologies. These technologies enable the exchange of real-time data between vehicles, infrastructure, and cloud-based platforms, enabling better traffic management, reduced congestion, and improved overall transportation efficiency.
Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Companies coming up with progressive technological solutions for firming their positions.
COVID-19 Impact: Pandemic Hampered The Market Due To Unexpected Disruption In The Sector
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
COVID- 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.
LATEST TRENDS
"Use Of Innovative Products To Boost The Market Growth "
Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.
INTELLIGENT CHASSIS MARKET SEGMENTATION
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- By Type Analysis
According to type, the market can be segmented into L2, L3, L4
L2 will capture the maximum market share through forecast period.
L2- the vehicle can control both steering and acceleration/deceleration, but it requires the human driver to remain engaged with the driving task and monitor the environment at all times.
L3-The vehicle can manage all aspects of the driving task under certain conditions, but the human driver must be ready to take control when requested. Advanced autonomous systems, requiring greater integration with sensors and software for situational analysis and decision-making.
L4-The vehicle can handle all driving tasks in specific conditions or environments (like urban areas or dedicated lanes) without any human intervention. Highly advanced systems with full integration of autonomous driving technologies. The chassis needs to support complete vehicle control for navigation, safety, and comfort without human input in defined scenarios.
- By Application Analysis
According to application, the market can be segmented into passenger vehicle, commercial vehicle, driverless delivery vehicle.
Intelligent chassis market players cover segment as passenger vehicle will dominate the market share during forecast period.
Passenger vehicle -it is used to enhance safety features like collision avoidance and adaptive cruise control. Flexibility to different driving styles, advanced safety features, and integration with consumer technology.
Commercial vehicle -Robust systems capable of handling heavier loads, long-duration usage, and varying operational conditions.
Driverless delivery vehicle- Highly advanced autonomous systems, compact and efficient design, and integration with logistics and tracking systems.
DRIVING FACTORS
"Increasing Demand For Enhanced Safety Features To Boost The Market Growth"
With increasing awareness and regulatory demands for vehicle safety, there's a growing demand for intelligent chassis systems that can significantly improve safety through features like advanced driver assistance systems.
"Technological Advancement and Innovation To Upsurge The Market"
Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the intelligent chassis market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. Constant development are one of the trends in the market in variety of practices.
RESTRAINING FACTOR
"Reliability and Safety Concerns To Hamper The Market Growth"
Systems become more sophisticated, ensuring their reliability and safety becomes more challenging which can restrain market growth if not adequately addressed. Technical difficulties will reduce the industry revenue.
INTELLIGENT CHASSIS MARKET REGIONAL INSIGHTS
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North America to Dominate the Region Due To Strong Presence Of Major Automotive Manufacturers And Technology Companies
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East and Africa.
North America is further expected to witness growth in the intelligent chassis market share. The region is dominating the market due to strong presence of major automotive manufacturers and technology companies. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.
KEY INDUSTRY PLAYERS
"Key Players Focus On Partnerships To Gain Competitive Advantage"
The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger. The collective efforts of these major players expressively impact the competitive landscape and future path of the market.
List Of Market Players Profiled
- Bosch (Germany)
- Continental AG (Germany)
- Mando Corporation (South Korea)
- Bethel Automotive Safety Systems (China)
- Schaeffler Group (Germany)
INDUSTRIAL DEVELOPMENT
November 2020: Mando Corporation, a global auto parts manufacturer, won the Brand Pillar Award in Autonomous Technologies of Ford.
REPORT COVERAGE
The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 6629 Million in 2022 |
Market Size Value By |
US$ 16890 Million by 2029 |
Growth Rate |
CAGR of 14% from 2022 to 2029 |
Forecast Period |
2022-2029 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the intelligent chassis market expected to touch by 2029?
The intelligent chassis market is expected to reach USD 16890 million by 2029.
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What CAGR is the intelligent chassis market expected to exhibit by 2029?
The intelligent chassis market is expected to exhibit a CAGR of 14.0% by 2029.
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What are the driving factors of the intelligent chassis market?
Increasing demand for enhanced safety features and technological development and advancement are expected to deliver profitable opportunities for the intelligent chassis market.
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What are the intelligent chassis market segments?
The intelligent chassis market segmentation that you should be aware of, which include, Based on type the intelligent chassis market is classified as L2, L3, L4. Based on application the intelligent chassis market is classified as passenger vehicle, commercial vehicle, driverless delivery vehicle.