What is the global market size of Automotive Chassis Market?

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).

Who are the key vendors in the Global Automotive Chassis Market?

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. 'Continental AG (Germany)', 'ZF Friedrichshafen AG (Germany)', 'Magna International Inc. (Canada)', '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)'

What is the key driver of Global Automotive Chassis Market?

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

What is the key market trend for Global Automotive Chassis Market?

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.

Which region accounted for the largest share in Automotive Chassis Market?

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.

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

Report ID: SQMIG25C2096 | Region: Global | Published Date: December, 2024
Pages: 223 | Tables: 66 | Figures: 75

Automotive Chassis Market News

Magna International recently contracted in April 2023 for the design and building of the new electric SUV at INEOS Automotive. This car will roll out from the assembly line sometime in 2026 at Graz, Austria. The general engineering will also be done by Magna.
Lamborghini has unveiled the carbon fiber chassis in March 2023 for its next Aventador successor, using more composite material than ever before. The aim of this new design is to eliminate joints and welds by integrating as many components as feasible. Forged composites do away with the energy expenditure associated with cooling, making production more efficient.
ZF launched software, in March 2023, for a "smartly networked" chassis system, which highly leverages the longitudinal, lateral, and vertical dynamics of the vehicle. All the chassis systems come under its management, which also ensures balanced damping, precise steering and braking, and fluent acceleration.

Automotive Chassis Market Report Snapshots

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Global Automotive Chassis Market size was valued at USD 58.3 billion in 2022 and is poised to grow from USD 62.17 billion in 2023 to USD 103.89 billion by 2031, growing at a CAGR of 6.63% during the forecast period (2024-2031).

Major players in this highly competitive automotive chassis industry landscape include Bosch, Magna International, ZF Friedrichshafen, Benteler International, and Aisin Seiki. These players lead the innovation in chassis business with the most advanced solutions necessary to develop electric and driverless cars. To enhance vehicles, they focus on new light materials, integration of the latest safety features, and developments in technology. These major corporations further drive competition through further research and development, influencing the way automobile chassis systems move forward. 'Continental AG ', 'ZF Friedrichshafen AG ', 'Magna International Inc. ', 'Aisin Seiki Co., Ltd. ', 'Gestamp Automocion ', 'American Axle & Manufacturing Holdings, Inc. ', 'Martinrea International Inc. ', 'Schaeffler AG ', 'Hyundai Mobis Co., Ltd. ', 'Thyssenkrupp AG ', 'Dana Incorporated ', 'GKN Automotive Limited ', 'Magneti Marelli S.p.A. ', 'IFA Rotorion - Holding GmbH ', 'KLT Automotive and Tubular Products Limited ', 'Tower Automotive Operations USA, LLC'

Electrification of Chassis Systems: The electrification of chassis systems is also on the move through electric vehicles. Carbon and aluminum are the two light materials used more and more to extend the life of batteries and maximize energy efficiency. Chassis components are linked with electric powertrains to improve handling and performance, and so, to increase efficiency and sustainability.

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.

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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

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What is the global market size of Automotive Chassis Market?

Who are the key vendors in the Automotive Chassis Market?

What is the key driver of Automotive Chassis Market?

What is the key market trend for Automotive Chassis Market?

Which region accounted for the largest share in Automotive Chassis Market?

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