Automotive Chassis Market Size, Share, Growth Analysis, By Chassis Type, By Material Type, By Vehicle Type, By Electric Vehicle Type, By Manufacturing Process, By Sales Channel, By Region - Industry Forecast 2024-2031
Global Automotive Chassis Market size was valued at USD 58.3 billion in 2022 and is poised to grow from USD 62.17 billion in 2023 to USD 103.89 billion by 2031, growing at a CAGR of 6.63% during the forecast period (2024-2031).
The increasing global demand for vehicles, particularly passenger and commercial types, is fueling the need for innovative and efficient chassis systems. Automotive manufacturers are under pressure to enhance vehicle performance, safety, and comfort, leading to a surge in demand for lightweight and advanced chassis materials. Stringent regulatory requirements on emissions and fuel efficiency further drive this trend. As a result, automakers are increasingly utilizing high-strength steel, aluminum, and carbon fiber composites to create lightweight chassis that improve fuel efficiency and reduce emissions while ensuring structural integrity. The rise of electric and hybrid vehicles is also reshaping the chassis market, as these vehicles require specialized designs for battery packs and electric drivetrains, presenting new opportunities for manufacturers in the sector.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Automotive Chassis market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Automotive Chassis Market Segmental Analysis
Global Automotive Chassis Market is segmented by Chassis Type, Material Type, Vehicle Type, Electric Vehicle Type, Manufacturing Process, Sales Channel and Region. Based on Chassis Type, the market is segmented into Backbone Chassis, Ladder Chassis, Monocoque Chassis, and Modular Chassis. Based on Material Type, the market is segmented into AL Alloy, Carbon Fibre Composite, HSS (High Speed Steel), and MS (Mild Steel). Based on Vehicle Type, the market is segmented into Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles. Based on Electric Vehicle Type, the market is segmented into Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), and Plug-In Hybrid Vehicle (PHEV). Based on Manufacturing Process, the market is segmented into Hydro-Forming, Stamping, Laser Cutting, and Welding. Based on Sales Channel, the market is segmented into OEM, and Aftermarket. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Automotive Chassis Market
The global automotive chassis market is significantly driven by the increasing focus on lightweight and fuel-efficient vehicles. Manufacturers are prioritizing the creation of lighter vehicles to improve fuel efficiency and minimize emissions, leading to a surge in demand for advanced chassis materials such as aluminum and high-strength steel. These materials provide the essential benefits of enhanced fuel economy while ensuring that safety and performance standards are upheld. As a consequence, the market for lightweight chassis components is experiencing substantial growth, reflecting the industry's commitment to sustainable practices and the demand for innovative solutions that meet both environmental and consumer expectations.
Restraints in the Global Automotive Chassis Market
The global automotive chassis market encounters multiple restraints, primarily due to market saturation and fierce competition. Numerous players are vying for dominance, particularly in saturated regions, which poses significant challenges for existing participants trying to preserve their market share and profitability. The influx of new entrants alongside established competitors intensifies the struggle for business opportunities. Consequently, companies must adopt innovative strategies to distinguish themselves effectively and maintain their standing in this competitive landscape. This environment demands continuous adaptation and differentiation to navigate the pressures of competition and market saturation successfully.
Market Trends of the Global Automotive Chassis Market
The global automotive chassis market is currently witnessing a significant shift towards lightweight materials, driven by the imperative for enhanced fuel efficiency and reduced carbon emissions. Automakers are increasingly adopting advanced materials like aluminum, high-strength steel, and carbon fiber composites in their chassis designs to meet these environmental targets. This trend not only improves structural integrity and safety but also facilitates weight reduction, leading to better overall vehicle performance. As regulatory pressures mount and consumer preferences favor sustainable practices, the demand for such lightweight chassis solutions is anticipated to grow, reshaping the industry's landscape and driving innovation in material technologies.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Driver & Opportunities
Restraints & Challenges
Porters Analysis & Impact
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2023
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Technological Advancement
Regulatory Landscape
Patent Analysis
Case Studies
Customer & Buying Criteria Analysis
Global Automotive Chassis Market Size by Chassis Type & CAGR (2024-2031)
Market Overview
Backbone Chassis
Ladder Chassis
Monocoque Chassis
Modular Chassis
Global Automotive Chassis Market Size by Material Type & CAGR (2024-2031)
Market Overview
AL Alloy
Carbon Fibre Composite
HSS (High Speed Steel)
MS (Mild Steel)
Global Automotive Chassis Market Size by Vehicle Type & CAGR (2024-2031)
Market Overview
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Two/Three Wheelers
Global Automotive Chassis Market Size by Electric Vehicle Type & CAGR (2024-2031)
Market Overview
Battery Electric Vehicle (BEV)
Hybrid Electric Vehicle (HEV)
Plug-In Hybrid Vehicle (PHEV)
Others
Global Automotive Chassis Market Size by Manufacturing Process & CAGR (2024-2031)
Market Overview
Hydro-Forming
Stamping
Laser Cutting
Welding
Global Automotive Chassis Market Size by Sales Channel & CAGR (2024-2031)
Market Overview
OEM
Aftermarket
Global Automotive Chassis Market Size & CAGR (2024-2031)
North America, (Chassis Type, Material Type, Vehicle Type, Electric Vehicle Type, Manufacturing Process, Sales Channel)
US
Canada
Europe, (Chassis Type, Material Type, Vehicle Type, Electric Vehicle Type, Manufacturing Process, Sales Channel)
UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific, (Chassis Type, Material Type, Vehicle Type, Electric Vehicle Type, Manufacturing Process, Sales Channel)
China
India
Japan
South Korea
Rest of Asia Pacific
Latin America, (Chassis Type, Material Type, Vehicle Type, Electric Vehicle Type, Manufacturing Process, Sales Channel)
Brazil
Rest of Latin America
Middle East & Africa, (Chassis Type, Material Type, Vehicle Type, Electric Vehicle Type, Manufacturing Process, Sales Channel)