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Strategic Analysis of the Global Market for Low Cost Chassis Systems
Frost & Sullivan, March 2009, Pages: 165
This Frost & Sullivan research service titled Strategic Analysis of Global Market for Low Cost Chassis Systems provides an overview of the market as well as a technology and cost-benefit analysis of the global low cost chassis systems market. The following segments are covered in this research: steering systems, stability control systems, suspension systems and braking systems. Electronic power steering (EPS) systems, hydraulic power steering systems, anti-lock braking system (ABS), electronic stability control (ESC), McPherson strut systems, torsion beam systems and disc brakes as well as drum brakes are some of the technologies examined in this research.
Market Overview
Global Warming, Emissions Control and Credit Crunch to Boost Prospects of Low-cost Cars, Triggering Uptake of Low-cost Chassis Components
As a direct consequence of the global economic crisis, raw material prices are set to drop due to lowered demand, enabling OEMs and suppliers to develop cheaper components. A reduction in credit means that end consumers will think twice before purchasing a vehicle. However, when they do make a vehicle purchase, they are certain to prefer cheaper options. “The global credit crunch, congested infrastructure and global warming are the three most influential drivers in the global low-cost car market,” notes the analyst of this research. “Technology evolutions in this direction will be the catalysing force in the future.”
Global warming, the need to control emissions and traffic issues, especially in some of the largest growing markets, will be the most influential factors pushing the market for low-cost cars in the coming years. The preference for low-cost cars in more mature markets such as Europe and North America will ensure that technology and safety innovations will propel this market in the future. Low-cost cars have to adhere to existing government legislations on safety and emissions, among others. As these requirements vary across regions, developing solutions that satisfy these criteria will be critical for both OEMs as well as suppliers.
Region-specific Product Development Critical to Competitive Success
However, rising fuel and raw material prices will make it more challenging for OEMs and suppliers to stick to the price ranges they have promised customers. Moreover, specific customer and market requirements across regions means OEMs have to make additional investments in R&D to ensure the optimal positioning of their low-cost products. “Producing the optimal low-cost offering for the global market will be the ultimate aim,” explains the analyst of this research. ”Developing a global car could be excessively demanding for an OEM as it would require considerable investment, which would be difficult, especially in these troubled times.”
The real advancements in the low-cost chassis market are expected in the steering and stability control systems segments. This is understandably due to the electrical components that are critical to the working of these systems. EPS and ABS are poised to be the fastest growing technologies in the coming years for the low-cost car chassis market. “Marketing a low-cost product as having been specifically developed for that market will be a real confidence booster for the consumer,” says the analyst of this research. “Efforts to make customers understand that significant amounts of time, money and technology have gone into their low-cost car will go a long way in boosting sales.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Steering systems
- Stability control systems
- Suspension systems
- Braking systems
- Technologies
The following technologies are covered in this research:
- Electronic power steering (EPS) systems
- Hydraulic power steering systems
- Anti-lock braking system (ABS)
- Electronic stability control (ESC)
- McPherson strut systems
- Torsion beam systems
- Disc brakes
- Drum brakes
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