USD 66.35 billion
Automotive Chassis Market Size, Share, Growth Analysis, By Type(Backbone Chassis, Monocoque Chassis), By Application(Passenger Vehicles, Commercial Vehicles) - Industry Forecast 2024-2031
Report ID:
SQMIG25C2096 |
Region:
Global |
Published Date: March, 2024
Pages:
223
|
Tables:
66 |
Figures:
75
Automotive Chassis Market Insights
Global Automotive Chassis Market size was valued at USD 66.35 billion in 2022 and is poised to grow from USD 69.96 billion in 2023 to USD 106.88 billion by 2031, growing at a CAGR of 5.44% in the forecast period (2024-2031).
The rising global demand for vehicles, particularly passenger cars and commercial vehicles is driving the need for advanced and reliable chassis systems. As automotive manufacturers strive to enhance vehicle performance, safety, and comfort, the demand for innovative and lightweight chassis materials and designs is increasing. Additionally, stringent government regulations and standards regarding vehicle emissions and fuel efficiency are influencing the automotive chassis market. Automakers are focusing on developing lightweight chassis structures, incorporating materials such as high-strength steel, aluminum, and carbon fiber composites. These materials offer improved fuel efficiency and reduced emissions while maintaining structural integrity and safety.
Moreover, the growing adoption of electric and hybrid vehicles is expected to impact the automotive chassis market positively. Electric and hybrid vehicles require unique chassis designs to accommodate battery packs and electric drivetrains. This creates opportunities for manufacturers to develop specialized chassis systems that offer optimal weight distribution, battery protection, and structural rigidity for these alternative powertrain vehicles.
US Automotive Chassis Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Monocoque Chassis
Fastest Growth
Modular Chassis
Growth Rate
5.44% CAGR
Global Automotive Chassis Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Automotive Chassis Market By Type ($ Bn)
Global Automotive Chassis Market By Type (%)
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Automotive Chassis Market Segmental Analysis
The global automotive chassis market is segmented on the basis of type, application, and region. Based on type, the market can be segmented into Backbone Chassis, Monocoque Chassis, Modular Chassis, Ladder Chassis and others. Based on application, the market is segmented into Passenger Vehicles, Commercial Vehicles, Electric Vehicles, Sports and Performance Vehicles and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Automotive Chassis Market Analysis by Type
Among the different types of automotive chassis available in the market, the dominant type is the Monocoque Chassis. The Monocoque Chassis offers several advantages, including improved structural rigidity, reduced weight, and enhanced safety. It is widely used in passenger cars and high-performance vehicles due to its ability to provide better handling and stability.
On the other hand, the fastest-growing type in the global automotive chassis market is the Modular Chassis segment. The Modular Chassis offers flexibility in design and manufacturing processes, allowing automakers to develop multiple vehicle models using a common platform. This approach helps in optimizing production costs, streamlining assembly processes, and accelerating time-to-market for new vehicle models. The growing trend of platform sharing and modular vehicle architectures is driving the adoption of Modular Chassis in the automotive industry.
Automotive Chassis Market Analysis by Application
Analysis by application reveals that among the mentioned segments, the dominant application in the global automotive chassis market is passenger vehicles. Passenger vehicles encompass a wide range of automobiles, including sedans, SUVs, hatchbacks, and minivans, which are designed for the transportation of individuals and families. The demand for passenger vehicles remains consistently high due to the growing population, increasing urbanization, and improving disposable incomes in many regions worldwide. As a result, the passenger vehicle segment holds the largest market share in the automotive chassis market.
On the other hand, the fastest-growing application in the global automotive chassis market is electric vehicles (EVs). With the rise of environmental consciousness and the need to reduce carbon emissions, there has been a surge in the demand for electric vehicles globally. Electric vehicles are powered by electric motors and rely on advanced battery technologies. They offer several advantages, such as lower operating costs, reduced reliance on fossil fuels, and decreased emissions. The increasing government initiatives and incentives to promote electric mobility, along with technological advancements in battery efficiency and charging infrastructure, are driving the rapid growth of electric vehicles. Consequently, the electric vehicle segment is experiencing substantial growth and is projected to continue expanding in the automotive chassis market.
Global Automotive Chassis Market By Type, 2023 (%)
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Automotive Chassis Market Regional Insights
In terms of dominance, Asia Pacific holds a prominent position in the global automotive chassis market. The region has emerged as a key hub for automobile production, with countries like China, Japan, and India playing crucial roles. The rapid economic growth, rising disposable incomes, and expanding middle-class population in these countries have contributed to the increased demand for vehicles, consequently driving the demand for automotive chassis. Additionally, the presence of major automobile manufacturers and suppliers in Asia Pacific further strengthens its dominance in the market.
While Asia Pacific dominates the global automotive chassis market, the fastest-growing region is North America. The region has been witnessing steady growth in the automotive industry, driven by factors such as technological advancements, increasing consumer preferences for lightweight vehicles, and stringent regulations regarding fuel efficiency and emissions. The growing adoption of electric vehicles and the development of autonomous driving technology have also fueled the demand for advanced chassis systems in North America. Furthermore, the presence of major automotive manufacturers and the focus on research and development activities contribute to the region's rapid growth in the automotive chassis market
Global Automotive Chassis Market By Region, 2024-2031
- Largest
- Fastest
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Automotive Chassis Market Dynamics
Automotive Chassis Market Drivers
Emphasis on Lightweight and Fuel-Efficient Vehicles
- Automotive manufacturers are placing greater emphasis on the development of lightweight vehicles to enhance fuel efficiency and reduce emissions. This drive towards lighter vehicles has created a demand for chassis materials like aluminum and high-strength steel, which offer the dual benefits of improved fuel economy and maintained safety and performance standards. The market for lightweight chassis components is witnessing growth as a result
Automotive Chassis Market Restraints
Market Saturation and Competition
- The global automotive chassis market is characterized by intense competition among numerous players operating on a global scale. With market saturation occurring in some regions, existing market participants face challenges in maintaining their market share and profitability. This is further compounded by the presence of new entrants and established competitors who are actively pursuing business opportunities. The competitive landscape necessitates strategies that help companies differentiate themselves and sustain their position in the market.
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Automotive Chassis Market Competitive Landscape
The global automotive chassis market is highly competitive, with numerous players striving to capture a significant market share. The market is characterized by intense competition, technological advancements, and the constant pursuit of innovation. The automotive chassis serves as the foundation of a vehicle, providing structural strength, stability, and support to various components such as the engine, suspension, steering, and braking systems. The competitive landscape of the global automotive chassis market is influenced by several factors, including market consolidation, strategic alliances, product differentiation, and the focus on cost optimization.
Automotive Chassis Market Top Player’s Company Profiles
- Aisin Seiki Co., Ltd. (Japan)
- Benteler Automotive (Germany)
- Gestamp Automoción (Spain)
- American Axle & Manufacturing Holdings, Inc. (US)
- CIE Automotive (Spain)
- Tower International, Inc. (US)
- Martinrea International Inc. (Canada)
- Schaeffler AG (Germany)
- Hyundai Mobis Co., Ltd. (South Korea)
- Thyssenkrupp AG (Germany)
- Dana Incorporated (US)
- Benteler Automotive Rumburk s.r.o. (Czech Republic)
- GKN Automotive Limited (UK)
- Magneti Marelli S.p.A. (Italy)
- IFA Rotorion - Holding GmbH (Germany)
- KLT Automotive and Tubular Products Limited (India)
- Tower Automotive Operations USA, LLC (US)
Automotive Chassis Market Recent Developments
-
In January 2024, U POWER Tech introduced a historic "plug-and-play" EV chassis at CES, signaling a disruptive shift in the EV industry's technology and business landscape.
-
In September 2023, Qualcomm introduced the Snapdragon digital chassis for internal combustion engine (ICE) and electric two-wheelers, marking a significant advancement in vehicle technology.
-
In October 2023, Stellantis announced its strategic investment of €1.5 billion to become a significant shareholder in Leapmotor, aiming to strengthen Leapmotor's global electric vehicle business.
Automotive Chassis Key Market Trends
- High Demand for Lightweight Materials: The global automotive chassis market is experiencing several notable market trends that are shaping its dynamics. One key trend is the increasing demand for lightweight and high-strength materials in automotive chassis construction. With the growing emphasis on fuel efficiency and reducing carbon emissions, automakers are incorporating lightweight materials such as aluminum, high-strength steel, and carbon fiber composites in chassis design. These materials offer improved structural integrity, enhanced safety, and weight reduction, contributing to better fuel efficiency and vehicle performance.
- Growing Popularity of Hybrid Vehicles: Another prominent trend in the global automotive chassis market is the rising adoption of electric and hybrid vehicles. As the automotive industry shifts towards electrification, chassis design and architecture are being reimagined to accommodate the unique requirements of electric powertrains. Electric vehicles often have different weight distribution and battery placement needs, leading to chassis modifications to optimize vehicle dynamics, stability, and safety.
Automotive Chassis Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global automotive chassis market analysis, the increasing demand for lightweight and fuel-efficient vehicles is driving the adoption of advanced chassis systems. Manufacturers are focusing on developing lightweight materials, such as high-strength steel, aluminum, and composites, to reduce vehicle weight without compromising structural integrity and safety. The report highlights the significance of different product types in the automotive chassis market. These include ladder frame, monocoque, and semi-monocoque chassis. Each product type offers distinct advantages and is suited for specific vehicle applications. The growing preference for passenger safety, ride comfort, and vehicle stability is boosting the adoption of advanced chassis systems, such as monocoque, which provide enhanced performance and handling.
Geographically, the report provides a regional analysis of the automotive chassis market, covering North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. It evaluates the market size, growth prospects, and key trends in each region. Asia Pacific holds a significant market share due to the presence of major automotive manufacturing hubs, such as China, Japan, and South Korea. The region's robust growth can be attributed to the rising disposable income, increasing urbanization, and expanding automotive industry.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 66.35 billion |
| Market size value in 2031 | USD 106.88 billion |
| Growth Rate | 5.44% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Chassis Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Chassis Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Chassis Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Chassis Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Chassis Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Chassis Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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