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

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). 

The automotive chassis industry is the backbone of the entire automotive industry across the globe. It is critical for the manufacturing side and for the users. It decides the performance, durability, and safety attributes of the vehicle. The market is expanding due to significant factors, including improvements in automotive technology, growing demand for lightweight cars, and increased popularity of electric vehicles. Electric and driverless vehicles will need entirely new designs of chassis to support unique features and powertrains, making them conducive for this. In meeting this standard, auto manufacturers are becoming innovative by producing lighter chassis that can usher into a more fuel-efficient operation to meet the regulatory requirements and subsequently, reduce emissions as concerns over environmental issues grow. There is also the factor of a growing demand for more advanced chassis systems that should be capable of supporting advanced driver assistance systems due to increasing emphasis on safety and integrating those technologies. Moreover, there is the factor of expanding the industry as a result of trends towards automobile customization and rising disposable incomes. The automotive chassis market growth is expected to benefit from new materials, technical advancements, and increased prospects in developing nations, especially Asia-Pacific, where vehicle manufacturing is growing rapidly, as the automotive industry continues to change.

US Automotive Chassis Market is poised to grow at a sustainable CAGR for the next forecast year.