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

Due to the availability of inexpensive labor and raw resources, Asia-Pacific continues to dominate the automotive chassis market and provide businesses with considerable cost savings. Due to their massive populations and growing purchasing power parity, China and India, accounting for about 34% of the world's car production, are in this region. The sales of premium vehicles have risen with the popularity of the chassis made of aluminum alloy. Furthermore, the Asia-Pacific market is expected to be driven by increasing growth due to government and commercial investment and foreign direct investment during the forecast period. 

However, due to the advancement of new materials and technology, North America now has the second-largest market share for the automotive chassis market. Some new types of materials are replacing traditionally used materials in car chassis for the optimization of joining in this region. North America's automobile sector is now utilizing the resin, fiber, and metal alloys as they are lightweight, cost-effective, and have a high payload capacity. Due to increasing consumer demand for sports and luxury vehicles, this factor is also expected to act as a lucrative opportunity for the growth of the regional market. For instance, GM started the production of the Hummer EV SUV at its Detroit-Hamtramac assembly plant in Michigan in January 2023.