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Automotive Chassis Market Size & Share, By Vehicle Type, Chassis Type, Regional Forecast, Industry Players, Growth Statistics 2023-2030

Report ID: FBI 1042

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Published Date: Aug-2023

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Format : PDF, Excel

Market Outlook:

Automotive Chassis Market size surpassed USD 35.81 Billion in 2022 and is poised to reach USD 82.55 Billion, growing at over 10.5% CAGR between 2023 and 2030. The market is expected to be valued at a substantial figure, driven by various factors such as technological advancements, increasing vehicle production, rising disposable income, and changing consumer preferences.

Base Year Value (2022)

USD 35.81 Billion

18-23 x.x %
24-33 x.x %

CAGR (2023 - 2030)

10.5%

18-23 x.x %
24-33 x.x %

Forecast Year Value (2030)

USD 82.55 Billion

18-23 x.x %
24-33 x.x %
Automotive Chassis Market

Historical Data Period

2018 - 2021

Automotive Chassis Market

Largest Region

North America

Automotive Chassis Market

Forecast Period

2023 - 2030

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Market Dynamics:

Growth Drivers & Opportunities:

1. Technological Advancements: The automotive chassis industry is witnessing rapid technological advancements, such as the introduction of lightweight materials like aluminum and carbon fiber, intelligent chassis systems, and the integration of advanced sensors. These advancements enhance vehicle performance, fuel efficiency, and safety, thereby driving the market growth.

2. Increasing Vehicle Production: The growing demand for vehicles, coupled with the expansion of the automotive industry in emerging economies, is contributing to the increased production of automobiles. This, in turn, is driving the demand for automotive chassis, as they form the structural framework of vehicles, supporting the engine, transmission system, and other components.

3. Rising Disposable Income: The rise in disposable income, especially in developing countries, is leading to increased consumer spending on automobiles. As a result, the automotive industry is experiencing a surge in demand for various vehicle types, leading to a positive impact on the automotive chassis market.

 

Industry Restraints & Challenges:

Report Scope

Report CoverageDetails
Segments CoveredVehicle Type, Chassis Type
Regions Covered•North America (United States, Canada, Mexico), • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe), • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC), • Latin America (Argentina, Brazil, Rest of South America), • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company ProfiledSchaeffler Technologies AG, Hyundai Motor Company, Aisin Seiki, Magna International Inc., Continental AG, ZF Friedrichshafen AG, Tower International, Benteler International AG, CIE Automotive, REE Automotive Ltd.

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1. Complex Manufacturing Process: The manufacturing process of automotive chassis involves various complexities, such as the integration of multiple components and adherence to stringent safety regulations. This complexity can pose a challenge for manufacturers, leading to production delays and higher costs.

2. Government Regulations: Stringent government regulations regarding emission standards and safety requirements may present challenges for the automotive chassis market. Manufacturers need to comply with these regulations, which can lead to additional costs and design modifications, impacting market growth.

3. Volatile Raw Material Prices: The fluctuating prices of raw materials used in the manufacturing of automotive chassis, such as steel, aluminum, and carbon fiber, can affect the profit margins of manufacturers. The dependence on these raw materials and their price volatility can pose challenges for the market.

In conclusion, the global automotive chassis market is poised for substantial growth due to technological advancements, increasing vehicle production, and rising disposable income. However, challenges like complex manufacturing processes, government regulations, and volatile raw material prices need to be addressed by industry players to ensure sustained growth in this market.

Report Coverage & Deliverables

Historical Statistics Growth Forecasts Latest Trends & Innovations Market Segmentation Regional Opportunities Competitive Landscape
Automotive Chassis Market
Automotive Chassis Market

Regional Forecast:

The automotive chassis market is expected to witness significant growth in the North America, Asia Pacific, and Europe regions.

North America

In North America, the market is driven by the strong presence of established automotive manufacturers and the increasing demand for advanced and fuel-efficient vehicles. The region is witnessing a rising adoption of electric and hybrid vehicles, which is also driving the demand for lightweight and efficient chassis systems. Furthermore, stringent government regulations regarding vehicle safety and emission norms are further propelling the growth of the automotive chassis market in the region.

Asia Pacific

Asia Pacific is anticipated to witness substantial growth in the automotive chassis market due to the booming automotive industry in countries like China and India. The region showcases a high demand for passenger vehicles and commercial vehicles, which is driving the production and sales of automotive chassis. Moreover, rapid urbanization, improving infrastructure, and increasing disposable income of the population are also contributing to the growth of the automotive chassis market in the Asia Pacific region.

Europe

In Europe, the market is fueled by the presence of leading automotive manufacturers, technological advancements, and a focus on reducing vehicle emissions. The region is known for producing high-performance and luxury vehicles, which require advanced and lightweight chassis systems. Additionally, stringent safety regulations and increasing consumer preferences for electric and hybrid vehicles are driving the demand for innovative and efficient chassis technologies in Europe.

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Segmentation Analysis:

Passenger Vehicle Chassis:

The sub-segment of passenger vehicle chassis plays a crucial role in the automotive chassis market. It encompasses the chassis systems specifically designed for passenger cars, sedans, hatchbacks, and SUVs. These chassis systems are engineered to provide improved ride comfort, handling, and vehicle stability.

With the increasing demand for passenger vehicles, the passenger vehicle chassis segment is witnessing significant growth. Advancements in chassis technology, such as lightweight materials like aluminum and carbon fiber composites, contribute to enhanced fuel efficiency and reduced emissions. Moreover, the integration of advanced suspension systems and electronic stability control further improves the overall performance and safety of passenger vehicles.

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Competitive Landscape:

The automotive chassis market is highly competitive and fragmented, with several key players operating globally. These companies continuously invest in research and development activities to innovate and introduce advanced chassis technologies. Some of the prominent players in the market include:

1. Bosch GmbH

2. Continental AG

3. Magna International Inc.

4. ZF Friedrichshafen AG

5. Aisin Seiki Co., Ltd.

6. Schaeffler AG

7. Benteler Automotive

8. Hyundai Mobis

9. AL-KO Vehicle Technology

10. Gestamp

These market players focus on strategic collaborations, mergers and acquisitions, and new product launches to strengthen their market presence and gain a competitive edge. Additionally, they strive to meet the evolving consumer demands for enhanced performance, safety, and sustainability in automotive chassis systems.

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Automotive Chassis Market Size & Share, By Vehicle...

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