Global Automotive Chassis Market Size, Share, Growth Analysis, By Type(Backbone Chassis, Monocoque Chassis), By Application(Passenger Vehicles, Commercial Vehicles) - Industry Forecast 2023-2030

Automotive Chassis Market size was valued at USD 63.26 billion in 2021 and is poised to grow from USD 66.35 billion in 2022 to USD 101.36 billion by 2030, at a CAGR of 5.44% during the forecast period (2023-2030).

Increasing global demand for vehicles, notably both passenger cars and commercial vehicles, is propelling the necessity for advanced and dependable chassis systems. As automotive manufacturers aim to augment vehicle performance, safety, and comfort, the quest for innovative and lightweight chassis materials and designs is on the rise. Furthermore, stringent governmental regulations and standards pertaining to vehicle emissions and fuel efficiency exert a significant influence on the automotive chassis market. Automakers are directing their efforts toward crafting lightweight chassis structures, integrating materials like high-strength steel, aluminum, and carbon fiber composites. These materials not only enhance fuel efficiency and diminish emissions but also uphold structural integrity and safety. Additionally, the surging adoption of electric and hybrid vehicles is anticipated to positively impact the automotive chassis market. These vehicles demand specialized chassis designs to accommodate battery packs and electric drivetrains. This situation presents an avenue for manufacturers to develop tailored chassis systems that ensure optimal weight distribution, safeguard battery components, and provide structural robustness for these alternative powertrain vehicles.

Segments covered in this report

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.

Drivers:

Greater emphasis on the development of lightweight vehicles

Automotive manufacturers are increasingly prioritizing the creation of lightweight vehicles to boost fuel efficiency and minimize emissions. This push for lighter vehicles has generated a need for chassis materials such as aluminum and high-strength steel, providing a dual advantage of heightened fuel economy while maintaining safety and performance standards. Consequently, there is observable growth in the market for lightweight chassis components.

Restraints:

Intense competition

Intense competition defines the global automotive chassis market, with numerous players engaging in operations on a worldwide scale. In regions experiencing market saturation, incumbent participants encounter difficulties in preserving their market share and profitability. This challenge is exacerbated by the entry of new players and the active pursuit of business opportunities by established competitors. Given the competitive landscape, companies must employ strategies that enable them to distinguish themselves and maintain their standing in the market.

Market Trends:

Elevated Demand for Lightweight Materials

The dynamics of the global automotive chassis market are being influenced by distinct trends, and a significant one involves the rising appetite for lightweight and high-strength materials in constructing automotive chassis. As the automotive industry places increased importance on fuel efficiency and carbon emissions reduction, manufacturers are integrating lightweight materials such as aluminum, high-strength steel, and carbon fiber composites into chassis design. These materials not only enhance structural integrity and safety but also contribute to weight reduction, ultimately improving fuel efficiency and overall vehicle performance.

Increasing Popularity of Hybrid Vehicles

The global automotive chassis market is the surging embrace of electric and hybrid vehicles. With the automotive sector transitioning towards electrification, there's a reimagination of chassis design and structure to suit the distinctive demands of electric powertrains. Electric vehicles typically necessitate varied weight distribution and specific battery placements, prompting modifications in chassis configurations aimed at optimizing vehicle dynamics, stability, and safety.