Automotive Chassis Market Size, Share, Growth Analysis, By Type(Backbone Chassis, Monocoque Chassis, Modular Chassis, Ladder Chassis and Others.), By Application(Passenger Vehicles, Commercial Vehicles, Electric Vehicles, Sports and Performance Vehicles), By Region - Industry Forecast 2024-2031

Global Automotive Chassis Market size was valued at USD 66.35 billion in 2022 and is poised to grow from USD 69.96 billion in 2023 to USD 106.88 billion by 2031, growing at a CAGR of 5.44% in the forecast period (2024-2031).

The rising global demand for vehicles, particularly passenger cars and commercial vehicles is driving the need for advanced and reliable chassis systems. As automotive manufacturers strive to enhance vehicle performance, safety, and comfort, the demand for innovative and lightweight chassis materials and designs is increasing. Additionally, stringent government regulations and standards regarding vehicle emissions and fuel efficiency are influencing the automotive chassis market. Automakers are focusing on developing lightweight chassis structures, incorporating materials such as high-strength steel, aluminum, and carbon fiber composites. These materials offer improved fuel efficiency and reduced emissions while maintaining structural integrity and safety.

Moreover, the growing adoption of electric and hybrid vehicles is expected to impact the automotive chassis market positively. Electric and hybrid vehicles require unique chassis designs to accommodate battery packs and electric drivetrains. This creates opportunities for manufacturers to develop specialized chassis systems that offer optimal weight distribution, battery protection, and structural rigidity for these alternative powertrain vehicles.

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