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The North America automotive chassis systems market is estimated to record a CAGR of 2.68% during the forecast period. The increasing sale of vehicles, and the resultant demand for automotive chassis system is driving the market growth.
The North America automotive chassis systems market is assessed on the basis of markets situated across the United States and Canada regions. The automotive industry is witnessing a stable growth in the US. There have been several investments from leading players with regards to product expansions which is driving both, the automotive industry and the automotive chassis systems market. Various incentives offered by the governments in Canada is boosting the growth of electric vehicles, which, in turn, is benefiting the chassis systems market growth. The increase in the production of electric vehicles has resulted in ample opportunities for market growth. The widespread trend of leasing and car financing is attracting the developing markets across the regions. The resultant incentive measures by the car leasing and financing companies are expected to boost car sales, thereby influencing the market growth.
The automotive manufacturers have undertaken the inclusion of R&D centers to work on the development and improvement of chassis components. It has benefited both, the companies and the market growth. Some of the major companies are Magna International Inc., Gestamp Automoción S.A., Continental Ag, Benteler International Ag, American Axle & Manufacturing Inc., Aisin Seiki Co. Ltd., etc.
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