Automotive chassis is the internal framework that supports all the components in an automobile. It is a main supporting structure of a vehicle. As per the report published by Market Research Future (MRFR), the global automotive chassis market is registered to expand steadily at a CAGR of 5.76% during the forecast period of 2017-2023.
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Market Drivers and Restraints:
Worldwide rise in sales of automobiles and overall development of automotive industry coupled with advancement in technology is leading to the increasing demand for chassis systems in the global market. Improvement in chassis manufacturing capabilities as a result of industrial development is propelling the growth of the global automotive chassis market.
The recent upgrades in chassis systems that enhance aerodynamic qualities and reduce the overall weight of vehicle to improve fuel efficiency and design are leading to rapid adoption of advanced automotive, resulting in the expansion of the global automotive chassis market.
Increasing disposable income and easy availability of automobiles at lower prices are generating high demand for automobiles all over the world, which in turn is propelling the growth of the global automotive chassis market.
However, high expenditure by automotive companies on research and development of advanced chassis systems is likely to restrain the growth of the global automotive chassis market during the forecast period.
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