Automotive Chassis Market: Scope & Size Analysis by 2032 |...

Automotive Chassis Market: Scope & Size Analysis by 2032

Posted 2024-12-10 12:15:02

Automotive Chassis Market:

The size of the automotive chassis market was estimated at 48.22 billion USD in 2021. From USD 55 billion in 2022 to USD 109.25 billion in 2030, the automotive chassis market industry is anticipated to expand at a compound annual growth rate (CAGR) of 8.96%. (2022 - 2030).

The automotive chassis is a critical part of a vehicle's structure, providing support for the engine, transmission, suspension, and other major components. It serves as the vehicle's foundation and plays a crucial role in ensuring safety, performance, and stability. The Automotive Chassis Market is driven by the increasing demand for lightweight materials and advanced chassis technologies that enhance fuel efficiency and vehicle dynamics.

Automotive Chassis Market Companies

Continental

ZF Friedrichshafen

Magna

Schaeffler

Aisin Seiki

CIE Automotive

Benteler

Hyundai Mobis

Ligier Automotive

Gestamp

Market Research Future Insights:

The rise in demand for fuel-efficient vehicles, the explosion of innovations and technological developments, and an increase in vehicle manufacturing are the primary drivers of the automotive chassis system industry. Customers are looking for vehicles that are more ecologically friendly and fuel-efficient due to growing environmental concerns and rising fuel prices.

In response, automakers are creating lighter, more aerodynamic cars with chassis systems made of cutting-edge materials like aluminium and carbon fibre. As governments around the world impose stricter fuel efficiency and emissions standards, this trend is anticipated to continue.

On the other side, the market's expansion would be constrained by reasons such as fluctuating raw material prices and declining car ownership due to an increase in shared mobility.

Additionally, chances for stock growth are anticipated because of the development of ultra-light chassis systems, which paves the way for new businesses to enter the market with little expenditure in R&D. The scope of the automotive chassis industry has also been expanded by the introduction of battery-electric powered propulsion in light commercial vehicles, medium and heavy commercial vehicles, and buses and coaches.

The need for fuel-efficient automobiles is increasing, which will encourage competition among major manufacturers to introduce sophisticated fuel-efficient vehicles to meet the demand. Hence, such hair product-related variables have recently increased the CAGR of the global automotive chassis market.

Regional Analysis:

The analysis offers market insights for each region separately, including North America, Europe, Asia-Pacific, and the Rest of the World. The automobile chassis market is thought to be dominated by the Asia Pacific area.

This is because countries with some of the largest and fastest-growing economies in the world—like China, India, and Japan—have markets for automobiles that are among the biggest in the world. The need for chassis systems is being fueled by automakers' responses to this demand, which include expanding their production capabilities and introducing new models in the area. Also, the area is home to a number of top Tier 1 firms, suppliers, and automakers, all of which have a substantial impact on the market's expansion.

The rising demand for vehicles and the expanding use of cutting-edge technology and materials in the automotive sector are projected to keep the Asia Pacific area in the lead over the coming years. The United States, Canada, Germany, France, the United Kingdom, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil are other significant nations covered in the market analysis.

The third-largest market share belongs to the European Automotive Chassis market. Government regulations to reduce carbon emissions are expanding, which will benefit the European economy.

One such example is the unilateral decision made by the European Union to switch to zero-emission vehicles by the year 2030. The market in the European region will experience healthy growth as a result of the spike in electric automobiles. Ladder and monocoque chassis are expected to increase rapidly in Europe since the modular chassis type dominates the market and is mostly employed in electric vehicles. Also, the UK Automotive Chassis market grew at the highest rate in the European region, while the Germany Automotive Chassis market had the greatest market share.

The second-largest market for automotive chassis is in North America. High levels of R&D spending in the area have contributed to the creation of novel technologies and materials for chassis systems. The area also benefits from a strong infrastructure that fosters the expansion of the automobile sector.

The rising demand for automobiles and the expanding use of cutting-edge technologies and materials in the automotive sector are likely to fuel the expansion of the North American automotive chassis market over the next years. Moreover, the North American automotive chassis market in the United States had the biggest market share, while the market in Canada had the quickest rate of expansion.

Market Segmentation:

According to type, the automotive chassis market is divided into Backbone, Ladder, Monocoque, Modular, and other segments. In terms of revenue, the Monocoque segment dominated the Automotive Chassis market in 2021.

This is a result of the widespread use of monocoque chassis in passenger cars, which offer a combination of strength, rigidity, and lightweight and enhance driving dynamics and fuel economy. The production of high-end and luxury automobiles, which have larger margins and greatly increase market income, also makes extensive use of monocoque chassis. The need for lightweight and fuel-efficient automobiles, as well as the expanding use of cutting-edge materials and technology in the automotive sector, are likely to drive the segment's growth in the years to come.

Steel, Aluminum Alloy, and Carbon Fiber Composite are among the materials used in the market segmentation for automotive chassis. The Automotive Chassis market's revenue in 2021 was dominated by the aluminium alloy segment. Aluminum alloy-induced chassis systems are expected to gain tensile affinity from automobile OEMs as a result of legislation to make vehicles more environmentally friendly and the rapid use of electric vehicles. As compared to other raw materials used to make chassis systems during the forecasted period, aluminium will increase its market share.

Passenger Car and Commercial Vehicle are two of the market segments for Automotive Chassis that are based on Vehicle Type. During the forecast period of 2022–2030, the segment of passenger cars is expected to grow at the fastest rate. This segment dominated the market in 2021.

This is a result of the increased demand for passenger automobiles, which is being fueled by factors including urbanisation, rising disposable income, and an increase in the number of the middle class in emerging nations. The need for chassis systems is being fueled by the automakers' introduction of new models and variants in response to this demand. The huge production volumes and high margins of the passenger automobile category make it a significant contributor to market revenue.

The huge production volumes and high margins of the passenger automobile category make it a significant contributor to market revenue. This market is anticipated to keep expanding due to rising consumer demand for safe, lightweight, fuel-efficient automobiles as well as rising use of cutting-edge technologies and materials in the automotive sector. All of these elements for automotive chassis have a beneficial effect on market expansion.