Wilmington, Delaware, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Passenger Car Intelligent Chassis and Chassis Domain Controller Market by Vehicle Type (Sedans, SUVs, Hatchbacks and Others), Vehicle Propulsion (Internal Combustion Engine, Battery Electric Vehicle, Hybrid Electric Vehicle and Others), and Chassis Type (Chassis Type, Rear-wheel drive, All-wheel drive and Four-wheel drive): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the passenger car intelligent chassis and chassis domain controller market was valued at $2.5 billion in 2023, and is estimated to reach $8.9 billion by 2033, growing at a CAGR of 13.9% from 2024 to 2033.
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Prime determinants of growth
The global passenger car intelligent chassis and chassis domain controller market is experiencing growth due to several factors such as stringent safety regulations mandating the integration of advanced driver assistance systems (ADAS), increased consumer demand for vehicles equipped with advanced safety and convenience features and technological advancements. However, the high cost associated with the development and integration of intelligent chassis and domain controller systems and complexity and integration challenges hinder market growth to some extent. Moreover, rapid urbanization and traffic congestion and rise in adoption of electric vehicles offers lucrative opportunities for the expansion of the global passenger car intelligent chassis and chassis domain controller market.
Segment Highlights
By vehicle type, the SUVs segment held the highest market share in 2023. The increasing popularity of SUVs globally, driven by factors such as their versatility, perceived safety, and consumer preferences, has led automakers to focus on integrating advanced chassis technologies and domain controllers in these vehicles to enhance their performance, handling, and safety features.
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By vehicle propulsion, the internal combustion engine segment held the highest market share in 2023. While the adoption of electric vehicles (EVs) is increasing, ICE vehicles still dominate global automotive sales, and automakers continue to invest in advanced chassis technologies for these vehicles to meet evolving safety standards and consumer expectations.
By chassis type, the four-wheel drive segment held the highest market share in 2023. Front-wheel drive (FWD) vehicles are popular among automakers and consumers due to their efficient packaging, better fuel economy, and lower manufacturing costs compared to other chassis types. As a result, automakers prioritize the integration of intelligent chassis technologies and domain controllers in FWD vehicles to enhance their performance and safety characteristics.
Regional Outlook
By region, Asia-Pacific held the highest market share in terms of revenue in 2023. This is due to the presence of major automotive manufacturing hubs in countries such as China, Japan, South Korea, and India, coupled with the growing demand for advanced automotive technologies, safety features, and autonomous driving capabilities in these regions.
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Players:
- STMicrocontrollers
- Visteon Corporation
- Infineon Technologies
- Robert Bosch GmbH
- Aptiv PLC
- Renesas
- Texas Instruments
- Panasonic Corporation
- NXP Semiconductors
- ZF Friedrichshafen AG
- Continental AG
The report provides a detailed analysis of these key players in the global passenger car intelligent chassis and chassis domain controller market . These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Recent Development:
- In January 2024, ZF Friedrichshafen AG introduced its latest high-performance computing platform, the Vehicle Motion Domain (VMD) Controller. This central computer is adaptable for all chassis platforms, vehicle motion and body functions, next-generation software-defined cars, and future domain and zone E/E architectures. The VMD Controller plays a crucial role in defining a car's ride and handling characteristics through its integration with wheel guidance, damping, suspension, steering, and brakes. The trend towards the electrification and software control of these systems is rapidly accelerating.
- In December 2023, CATL announced that its CIIC (CATL Integrated Intelligent Chassis) skateboard platform successfully completed testing in China, achieving impressive performance metrics including a 1, 000 km range, consumption of 10.5 kWh/100km, and the ability to charge 300 km in just 5 minutes. The CIIC integrates high-voltage and low-voltage systems, steering and braking systems, and chassis domain controllers, utilizing CTC (cell-to-chassis) technology. Mass production of the first electric vehicle (EV) equipped with CIIC is set to commence in the third quarter of next year.
- In December 2023, NXP Semiconductors and Hon Hai Technology Group (Foxconn) inaugurated a joint laboratory at the Foxconn Nankan Facility in Taiwan, marking a significant step in their strategic collaboration for software-defined electric vehicle development. The lab's objective is to expedite Foxconn's initiatives in software-defined electric vehicles, utilizing NXP's extensive electrification portfolio and cross-vehicle system solutions. These solutions, employing the S32G and S32K3 families for domain and zonal controllers, target service-oriented gateways, vehicle networking, and safe vehicle control.
Recent Industry News
- In November 2023, Maersk, a Danish shipping giant, partnered with IBM to develop and implement a new digital platform for managing maritime logistics. This partnership aims to enhance efficiency and transparency throughout the global supply chain by leveraging blockchain technology, which underpins the platform.
- In June 2023, the world's largest container shipping company, Maersk, announced that it will invest $1 billion in sustainable shipping solutions. This includes the development of new ships that run on alternative fuels, such as methanol and ammonia.
- In September 2023, Hapag-Lloyd, a major German shipping company, and CMA CGM, a leading French container transportation and shipping company, signed a memorandum of understanding (MoU) to collaborate on various operational matters. The partnership aims to streamline port operations by coordinating schedules and consolidating operations where possible. This can lead to better utilization of port facilities, reduced congestion, and faster turnaround times for vessels. Optimized port operations contribute to lower operational costs and enhanced service levels.
- In June 2023, Japanese shipping company Ocean Network Express (ONE) and Israeli shipping company ZIM have agreed to cooperate on container sharing and slot exchange agreements. The partnership enhances the global network coverage for both ONE and ZIM. By combining their routes and services, they can offer customers access to a wider range of destinations and more direct connections. This expanded network improves service reliability and reduces transit times for shipments.
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