Latest News- Automotive Chassis Market: Passenger cars is expected to lead the Application segment during 2024-2028

The Automotive Chassis Market is being driven by Increasing adoption of advanced chassis design leads to reduced weight of vehicles

The Automotive Chassis Market is expected to grow at a CAGR of 9.23% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 29.63 billion. The automotive industry is experiencing a surge in demand for advanced chassis systems in premium sports cars from leading manufacturers, including Ferrari, Porsche, Automobili Lamborghini, Bugatti, Pagani, McLaren, and Koenigsegg. To meet this demand, automakers are investing in research and development, focusing on reinforced epoxy resin carbon fiber composites. This material not only enhances the performance of supercars and hypercars but also provides structural rigidity, making the designs more robust. The integration of performance-enhancing systems and active aerodynamics further fuels the growth of this market. Carbon fiber chassis is a key trend, offering benefits such as lightweight construction, high strength, and improved durability. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Passenger cars
  • Commercial vehicles
• Type
  • Monocoque chassis
  • Ladder chassis
  • Others
• Geography
  • APAC
    • China
    • Japan
    • South Korea
  • Europe
    • Germany
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing adoption of advanced chassis design leads to reduced weight of vehicles
• Mass production of monocoque chassis using advanced robotics manufacturing
• Stringent regulations to control emissions

However, the market also witnesses some limitations, which are as follows:

• New product development leading to reduction in platform lifecycle
• Fluctuating costs of raw materials
• Increasing popularity of shared mobility

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Market Scope in Automotive Chassis Market Research Report

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Research Analysis Overview

The Automotive Chassis Market is experiencing significant growth, with increasing volumes of units produced. The market encompasses various chassis types, including Ladder Chassis and Modular frame Chassis, each utilizing different materials like Lighter Materials and Aluminum alloy. New product launches and expansions dominate the sector, focusing on fuel efficiency, emission reduction, and environmentally friendly solutions. The HCV segment and Electric vehicles are key growth areas, with advancements in Skateboard Chassis, battery packs, suspension, brakes, and cylindrical motors. Technological innovations, consumer preferences, fuel prices, and regulations influence market trends. Monocoque Chassis and body styles also play a role in the evolving landscape.

Market Research Overview

The global automotive chassis market is a significant segment of the larger automotive parts and equipment market, which encompasses businesses producing components and accessories for various vehicle types, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers (Source: Technavio, Global Automotive Parts and Equipment Market 2021). This market's growth is driven by the increasing demand for electronic components in automobiles, such as electronic control units (ECUs), and the rise in sales of EVs, motorcycles, and PCs. Technavio calculates the market size based on the combined revenue generated by manufacturers of automotive components and equipment. Additionally, market expansion and the shift towards lighter materials, like aluminum and high-strength steel, and the focus on fuel efficiency and emission reduction are key trends influencing the automotive chassis market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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