Market Overview:

The Automotive Chassis Market size is estimated to reach $115.4 billion by 2030, growing at a CAGR of 5.5% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Automotive Chassis Market – By Drive Type (Internal Combustion Engine {Diesel, Gasoline}, Electric Vehicle {PHEV, HEV, Pure Electric}), By Vehicle Type (Passenger Cars {Small Car, Sedan, SUV, Others}, Heavy Commercial Vehicle, Light Commercial Vehicle), By Frame Material (Steel {Advanced High-Strength Steel, High Carbon Steel, Others}, Aluminum Alloy, Carbon Fiber Composites, Others) By Level of Autonomy (Level 0, Level 1, Level 2, Level 3, Level 4, Level 5), By Chassis Subsystem (Frame {Monocoque, Ladder, Chassis Rail, Others}, Steering {Fly-by-Wire System, Redundant Steering System, Others}, Braking {Redundant Braking System, Brake-by-Wire System, Automatic Emergency Braking (AEB) System, Others}, Suspension, Tires, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”. The market for automotive chassis is primarily driven by increasing environmental concerns. Automakers are introducing hybrid powertrains across various vehicle segments to improve fuel efficiency, reduce emissions, and meet regulatory requirements. Increased demand for electric vehicles (EVs) in the US automotive industry is partly driven by government incentives and subsidies to promote clean energy adoption. Federal tax credits, state rebates, and other incentives encourage consumers to purchase EVs, reducing the overall cost of ownership and making electric vehicles more appealing in the market. Growing environmental awareness and concerns about climate change prompt consumers to seek alternative transportation solutions with lower carbon footprints. EVs are perceived as environmentally friendly options due to their zero tailpipe emissions, contributing to air quality improvement and reducing greenhouse gas emissions, thus driving demand for electric vehicles in the US automotive industry. Technological advancements in battery technology, such as increased energy density, faster charging capabilities, and declining costs, enhance the performance and viability of electric vehicles. Improvements in battery technology address key concerns regarding range anxiety and charging infrastructure, making EVs more practical and appealing to consumers, thus stimulating demand in the US automotive chassis market.

APAC Dominated the Market in 2023:

The Asia-Pacific region dominates the global automotive chassis market, driven by its well-established automotive manufacturing hubs, including China, Japan, India, and South Korea. This dominance is attributed to increased automotive production, rapid urbanization, and a surge in consumer demand for passenger and electric vehicles. Major automakers and suppliers in the region benefit from advanced production facilities, cost-effective labor, and strong supply chains. China plays a crucial role due to its expansive vehicle production and electric vehicle adoption, while Japan and South Korea contribute through technological innovations and high-end automotive exports. India's growing automotive industry further strengthens the region's market leadership. Additionally, strategic investments, such as ZF’s expansion in Mexico for electric vehicle components, demonstrate the global interconnectivity of the automotive chassis supply chain. This comprehensive ecosystem ensures Asia-Pacific maintains its leading position in the automotive chassis market.

Automotive Chassis Market: Key Takeaways

Rising Vehicle Production

The growing global demand for passenger and commercial vehicles is a primary driver of the automotive chassis market. As economies expand, urbanization accelerates, and disposable incomes increase, consumers are purchasing more vehicles, boosting the need for automotive chassis components. The surge in electric vehicle (EV) production further contributes, requiring advanced chassis designs to accommodate batteries and powertrains. Additionally, automakers are scaling up production capabilities to meet demand while ensuring cost efficiency and high-performance standards. For example, leading manufacturers like Hyundai Mobis and ZF have made substantial investments in chassis production facilities, enabling faster vehicle assembly with modern chassis modules.

For More Queries About "Automotive Chassis Market " @ https://www.industryarc.com/pdfdownload.php?id=18130

Technological Advancements

Innovations in automotive technology significantly drive the automotive chassis market. Lightweight materials such as aluminum and carbon fiber reduce vehicle weight, enhancing fuel efficiency and performance. Additionally, modular chassis platforms streamline vehicle design, enabling automakers to build multiple models on a single platform. Electric and autonomous vehicle technologies have led to specialized chassis systems with integrated sensors and safety features. These advancements improve vehicle safety, handling, and energy efficiency, driving increased adoption and industry growth

Scope of the Report: 

Report Metric

Details

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

5.5%

Market Size in 2030

$115.4 billion

Segments Covered

 

By Drive Type, Vehicle Type, By Frame Material, By Level of Autonomy, By Chassis Subsystem, and By Region

Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).

Key Market Players

1.  ThyssenKrupp AG

2.  Robert Bosch LLC

3.  Hitachi Astemo Americas, Inc.

4.  Schaeffler Group USA Inc.

5.  HL Mando Corporation

6.  Aisin U.S.A. Mfg., Inc.

7.  Magna International

8.  Continental AG

9.  Nexteer Automotive

10.  NSK Ltd



Recent Developments:

In April 2023, Magna International was awarded a contract to manufacture INEOS Automotive's upcoming electric SUV, with production set to commence in 2026 in Graz, Austria. Furthermore, Magna will handle the full engineering of the vehicle.
In March 2023, Lamborghini revealed the carbon fiber chassis of its forthcoming Aventador successor, incorporating more composite materials than ever before. The new design focuses on integrating as many components as possible, eliminating the need for joints and welds. Additionally, the use of forged composites enables a more efficient manufacturing process, reducing the need for cooling-related energy consumption.

Automotive Chassis Market: Competitive Landscape

Key companies profiled in the Automotive Chassis Market are ThyssenKrupp AG, Robert Bosch LLC, Hitachi Astemo Americas, Inc., Schaeffler Group USA Inc., HL Mando Corporation, Aisin U.S.A. Mfg., Inc., Magna International, Continental AG, Nexteer Automotive, NSK Ltd and others.

About IndustryARC™:

IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets. 

IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.


Contact Us:

Mr. Venkat Reddy

IndustryARC

Email: [email protected]

USA: (+1) 518-282-4727