North American Class 6-8 truck OE chassis systems and components suppliers stand to benefit from truck makers’ growing safety and stability concerns. Given that trucks are vulnerable to various safety risks due to their high payloads and centers of gravity, truck makers are facing huge pressure from consumers and regulatory bodies to improve vehicle stability.
New analysis from Frost & Sullivan (transportation.frost.com), North American Class 6-8 Truck OE Chassis Systems and Components Market, reveals that revenue in this market totaled $2964.8 million in 2004. However, it is projected to drop to $2907.4 million in 2011.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants an overview of the latest analysis of the North American Class 6-8 Truck OE Chassis Systems and Components Market, then send an e-mail to Tolu Babalola, Corporate Communications at tolu.babalola[.]frost.com with the following information: your full name, company name, title, telephone number, e-mail address, city, state, and country. We will send you the brochure via email upon receipt of the above information.
The market for Class 6-8 trucks OE chassis systems reflects the volume swings correlated to the new truck build rates. In order to partially insulate the market revenues from the cyclical downturns it is therefore imperative for the system suppliers to add value to their product offerings and demand greater price premiums for the introduction of value-added products that enhance product-appeal.
Cognizant of this requirement, market participants are engaged in research and development activities fuelling the trend towards enhancements to the safety value of the chassis systems and components. “This trend presents an opportunity for chassis suppliers to develop advanced systems and components that boost the safety of heavy vehicles,” notes Frost & Sullivan Industry Analyst Sandeep Kar.
“Moreover, the inclusion of safety features helps justify higher prices – for instance, the addition of rollover sensing modules enhances the average price of suspension systems and introduction of advanced braking systems shortening the stopping distances of heavy trucks is expected to drive prices of brake systems.”
As the demand for incorporating stability enhancement modules continues to rise, it is likely to support the prices of chassis systems and components and boost market revenues.
Another salient trend in the market is the increasing demand from truck makers for modular systems and sub-assemblies. Due to the cyclical nature of truck building, manufacturers are always trying to reduce costs and achieve economies of scale. Modularization of the products could help them attain these goals by reducing production costs and inventories and streamlining operations.
Chassis system suppliers that leverage their technical expertise to develop modular systems and sub-assemblies in accordance with overall truck specifications are likely to enjoy fruitful and long-term relationships with truck makers. The challenge imposed by the demand for modular systems and sub-assemblies provides growth opportunities to those suppliers that possess considerable research and development resources and can form mutually beneficial and symbiotic relationships with competitors and/or truck makers to develop truck chassis modules and sub-assemblies.
Given that the cyclical nature of truck building impacts the Class 6-8 truck OE chassis systems and components market, suppliers need to manufacture and supply products on a “just-in-time” basis in order to insulate themselves against inevitable fluctuations in demand. Designing production capacities for average output can also offer growth opportunities for manufacturers and suppliers in this market segment.
Enhancing product value by incorporating advanced technologies and materials is another way of addressing this challenge. Moreover, with truck makers constantly upgrading their vehicles, suppliers have no choice but to improve their product offerings and introduce state-of-the-art chassis technologies.
However, rapid innovation and acceptance of new technologies is leading to faster phase-outs of existing systems and components even before they generate sufficient revenue to justify their R&D, manufacturing, and marketing expenses. Extending the market life of products to derive maximum revenue and attain economies of scale is a key challenge facing chassis system suppliers.
North American Class 6-8 Truck OE Chassis Systems and Components Market presents an exhaustive analysis of the North American class 6-8 truck OE chassis systems and components market, including driveline components and axle, suspension, brake, and steering systems. It analyzes the performance, characteristics, and potential of each of these systems and presents in-depth unit shipment and revenue forecasts.
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics and demographics.
North American Class 6-8 Truck OE Chassis Systems and Components Market
Corporate Communications – Europe
P: +44 (0) 20 7915 7876
F: +44 (0) 20 7730 3343
Corporate Communications – Asia Pacific
P: +603 6304 5832
F: +603 6201 7402
Keywords in this release: Class 6-8 trucks, chassis systems, OE, North America, suppliers, rollover sensing modules, suspension systems, modularization, modular systems, sub-assemblies, research, information, market, trends, technology, service, forecast, market share