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The Automotive Chassis Market size was recorded at USD 149.2 Billion in 2023 and is expected to reach USD 441.1 Billion in 2032, growing at a CAGR of 12.8% over the forecast period of 2024-2032.
The increasing global vehicle demand, especially passenger and commercial vehicles is driving the growth of advanced as well chassis systems in the automotive industry. According to the global report for automotive market sales, shows that the total vehicle unit sales in the U.S. market will be around 27% in 2024. Same with the Indian market, the sales for Passenger vehicles had reached up to 42, 18,746 units in 2023-24, an increase of 8.4% from the previous year.
Beginning with the development of automobile manufacturing to high-performance, safe, and comfortable direction, which requires the new lightweight chassis material with excellent properties, which makes vehicle efficient and more productive. Moreover, the government laws and regulations for vehicle emissions & fuel economy have also impacted driving the automotive chassis market. Automobile producers are developing lightweight chassis structures with composites made of carbon fiber, aluminum, and high-strength steel. The materials provide similar performance as before but better fuel efficiency and lower emissions along with the same structural integrity in terms of safety.
The companies also invested in the development of new vehicles with light chassis material, giving the market key players an opportunity to fight, and customers have better options with the purchase of vehicles. For Instance, Leading global automotive supplier ZF Friedrichshafen AG and the world's largest electronics manufacturer, Hon Hai Technology Group (Foxconn), officially formed a strategic partnership by completing their transaction today to create provisionally named "ZF Foxconn Chassis Modules." The joint venture was officially launched on April 30, with Foxconn purchasing a 50% share in ZF Chassis Modules GmbH. ZF plans to utilize this partnership strategically and in a bid to open up promising growth prospects with a fresh customer base as well as other development opportunities outside its traditional axle system assembly core business. From Foxconn's perspective, the deal represents an entry into auto manufacturing and a way to secure further expertise amid its mass production of electronics.
Driver
The evolution of the chassis design is required due to the rapid improvements in specialized EV requirements. Regardless of whether you're more concerned with range or power, an EV's ability to handle well and reduce the center of gravity is greatly enhanced by having its battery pack located on the floor of the car. Aluminum Chassis is mostly preferred for vehicles as it has high thermal conductivity and corrosion resistance. It also reduces the overall weight of the vehicle by 50%, as compared to other materials. According to the report, the Aluminum demand for body construction for vehicles is expected to reach from 65kg/BEV in 2023 to 80kg/BEV in 2030.
Restrain
The global disruptions are causing backlogs and volatility.
Opportunity
Growing demand for Lightweight Aluminum chassis for vehicles.
Challenge
The high cost and rising geopolitical pressures.
By Chassis Type
Non-Conventional
Modular
Conventional
By Vehicle Type
Passenger Car
Commercial Car
Electric Vehicles
The passenger car segment accounted for over 30% market share in terms of revenue in 2023. This sector is fueled by the rapidly growing consumer demand for safety and advanced connected car applications. The introduction of lightweight materials in passenger cars, and integrated chassis systems to improve fuel efficiency & performance will significantly contribute to increasing automotive market size and reducing environmental Impact.
Rising global demand for an environmentally friendly and efficient mode of public transportation is likely to provide impetus to the bus chassis market from 2023 through 2031. This is likely to have a profound impact on the market, with technological developments various trends among urban communities, and greater emphasis being laid upon environmental sustainability all influencing future CNG demand dynamics.
The Asia Pacific leads the automotive chassis market with more than 30% of the global market share in 2023, with its cost-saving nature as a result of the availability of cheap labor and raw materials that tend to entrench growth. This includes China and India which contribute to ~34% of global vehicle production driven by their high populations and growing purchasing power parity. According to data that shows China’s new energy vehicle sales reached around 10 million in 2023, consisting of Battery Electric vehicles and Plug-in Hybrid vehicles.
The US has also shown growth and developments in the automotive chassis market. Research on the US market indicates that sales of electric vehicles (EVs) rose to 53% in 2023 compared to 2022. This increase can be attributed to customers' preference for EVs over other options because charging stations are easily accessible. A total of twenty-one billion dollars has also been announced by the public and private sectors for the development of public charging stations.
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Regional Coverage
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are Schaeffler Technologies, Hyundai Motor, Aisin Seiki, Mahna International, Continental Ag, Tower International, CIE Automotive, REE Automotive, Benteler International AG, ZF Friedrichshafen AG, CIE Automotive and others players.
In April 2023, Magna International was awarded a contract to build INEOS Automotive's all-new electric SUV: Starting production in Graz, Austria in 2026. In addition to building it, Magna will also do the full engineering effort on this vehicle.
In March 2023: ZF announced software for an "intelligently networked" chassis system that harmonizes the longitudinal, lateral, and vertical dynamics of the vehicle. This system controls all chassis systems and ensures optimal acceleration, braking action, and precise steering response associated with balanced damping.
In October 2022: Four Mercedes-Benz E-SUV platforms, Hyundai Mobis chassis module delivery announced Hyundai thus became the first chassis module supplier to a luxury German OEM anywhere outside of Europe.
| Report Attributes | Details |
| Market Size in 2023 | US$ 149.2 Billion |
| Market Size by 2032 | US$ 441.1 Billion |
| CAGR | CAGR of 12.8 % From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Chassis Type (Non-conventional, Modular, Conventional) • By Vehicle Type (Passenger Car, Commercial Car, Electric Vehicles) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Schaeffler Technologies, Hyundai Motor, Aisin Seiki, Mahna International, Continental Ag, Tower International, CIE Automotive, REE automotive, Benteler International AG, ZF Friedrichshafen AG |
| Key Drivers | • The growth of automotive industry and the rising demand |
| Market Opportunity | • The rising trends in automotive industry and the rising sales percentage post global disruptions. |
Ans: The Automotive Chassis Market size was recorded at USD 149.2 Billion in 2023 and is expected to reach USD 441.1 Billion in 2032
Ans: The Automotive Chassis Market will be growing at a CAGR of 12.8% over the period of 2024-2032.
Ans: APAC region dominated the market in 2023, held a global market share of 30%.
Ans: Growing demand for Lightweight Aluminum chassis for vehicles.
Ans: The high cost and rising geopolitical pressures.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Automotive Chassis Market Segmentation, By Chassis Type
7.1 Introduction
7.2 Conventional
7.3 Non-Conventional
7.4 Modular
8. Automotive Chassis Market Segmentation, By Vehicle Type
8.1 Introduction
8.2 Passenger Car
8.3 Commercial car
8.4 Electric Vehicle
9. Regional Analysis
9.1 Introduction
9.2 North America
9.2.1 Trend Analysis
9.2.2 North America Automotive Chassis market by Country
9.2.3 North America Automotive Chassis market By Chassis Type
9.2.4 North America Automotive Chassis market By Vehicle Type
9.2.5 USA
9.2.5.1 USA Automotive Chassis market By Chassis Type
9.2.5.2 USA Automotive Chassis market By Vehicle Type
9.2.6 Canada
9.2.6.1 Canada Automotive Chassis market By Chassis Type
9.2.6.2 Canada Automotive Chassis market By Vehicle Type
9.2.7 Mexico
9.2.7.1 Mexico Automotive Chassis market By Chassis Type
9.2.7.2 Mexico Automotive Chassis market By Vehicle Type
9.3 Europe
9.3.1 Trend Analysis
9.3.2 Eastern Europe
9.3.2.1 Eastern Europe Automotive Chassis market by Country
9.3.2.2 Eastern Europe Automotive Chassis market By Chassis Type
9.3.2.3 Eastern Europe Automotive Chassis market By Vehicle Type
9.3.2.4 Poland
9.3.2.4.1 Poland Automotive Chassis market By Chassis Type
9.3.2.4.2 Poland Automotive Chassis market By Vehicle Type
9.3.2.5 Romania
9.3.2.5.1 Romania Automotive Chassis market By Chassis Type
9.3.2.5.2 Romania Automotive Chassis market By Vehicle Type
9.3.2.6 Hungary
9.3.2.6.1 Hungary Automotive Chassis market By Chassis Type
9.3.2.6.2 Hungary Automotive Chassis market By Vehicle Type
9.3.2.7 Turkey
9.3.2.7.1 Turkey Automotive Chassis market By Chassis Type
9.3.2.7.2 Turkey Automotive Chassis market By Vehicle Type
9.3.2.8 Rest of Eastern Europe
9.3.2.8.1 Rest of Eastern Europe Automotive Chassis market By Chassis Type
9.3.2.8.2 Rest of Eastern Europe Automotive Chassis market By Vehicle Type
9.3.3 Western Europe
9.3.3.1 Western Europe Automotive Chassis market by Country
9.3.3.2 Western Europe Automotive Chassis market By Chassis Type
9.3.3.3 Western Europe Automotive Chassis market By Vehicle Type
9.3.3.4 Germany
9.3.3.4.1 Germany Automotive Chassis market By Chassis Type
9.3.3.4.2 Germany Automotive Chassis market By Vehicle Type
9.3.3.5 France
9.3.3.5.1 France Automotive Chassis market By Chassis Type
9.3.3.5.2 France Automotive Chassis market By Vehicle Type
9.3.3.6 UK
9.3.3.6.1 UK Automotive Chassis market By Chassis Type
9.3.3.6.2 UK Automotive Chassis market By Vehicle Type
9.3.3.7 Italy
9.3.3.7.1 Italy Automotive Chassis market By Chassis Type
9.3.3.7.2 Italy Automotive Chassis market By Vehicle Type
9.3.3.8 Spain
9.3.3.8.1 Spain Automotive Chassis market By Chassis Type
9.3.3.8.2 Spain Automotive Chassis market By Vehicle Type
9.3.3.9 Netherlands
9.3.3.9.1 Netherlands Automotive Chassis market By Chassis Type
9.3.3.9.2 Netherlands Automotive Chassis market By Vehicle Type
9.3.3.10 Switzerland
9.3.3.10.1 Switzerland Automotive Chassis market By Chassis Type
9.3.3.10.2 Switzerland Automotive Chassis market By Vehicle Type
9.3.3.11 Austria
9.3.3.11.1 Austria Automotive Chassis market By Chassis Type
9.3.3.11.2 Austria Automotive Chassis market By Vehicle Type
9.3.3.12 Rest of Western Europe
9.3.3.12.1 Rest of Western Europe Automotive Chassis market By Chassis Type
9.3.2.12.2 Rest of Western Europe Automotive Chassis market By Vehicle Type
9.4 Asia-Pacific
9.4.1 Trend Analysis
9.4.2 Asia Pacific Automotive Chassis market by Country
9.4.3 Asia Pacific Automotive Chassis market By Chassis Type
9.4.4 Asia Pacific Automotive Chassis market By Vehicle Type
9.4.5 China
9.4.5.1 China Automotive Chassis market By Chassis Type
9.4.5.2 China Automotive Chassis market By Vehicle Type
9.4.6 India
9.4.6.1 India Automotive Chassis market By Chassis Type
9.4.6.2 India Automotive Chassis market By Vehicle Type
9.4.7 Japan
9.4.7.1 Japan Automotive Chassis market By Chassis Type
9.4.7.2 Japan Automotive Chassis market By Vehicle Type
9.4.8 South Korea
9.4.8.1 South Korea Automotive Chassis market By Chassis Type
9.4.8.2 South Korea Automotive Chassis market By Vehicle Type
9.4.9 Vietnam
9.4.9.1 Vietnam Automotive Chassis market By Chassis Type
9.4.9.2 Vietnam Automotive Chassis market By Vehicle Type
9.4.10 Singapore
9.4.10.1 Singapore Automotive Chassis market By Chassis Type
9.4.10.2 Singapore Automotive Chassis market By Vehicle Type
9.4.11 Australia
9.4.11.1 Australia Automotive Chassis market By Chassis Type
9.4.11.2 Australia Automotive Chassis market By Vehicle Type
9.4.12 Rest of Asia-Pacific
9.4.12.1 Rest of Asia-Pacific Automotive Chassis market By Chassis Type
9.4.12.2 Rest of Asia-Pacific Automotive Chassis market By Vehicle Type
9.5 Middle East & Africa
9.5.1 Trend Analysis
9.5.2 Middle East
9.5.2.1 Middle East Automotive Chassis market by Country
9.5.2.2 Middle East Automotive Chassis market By Chassis Type
9.5.2.3 Middle East Automotive Chassis market By Vehicle Type
9.5.2.4 UAE
9.5.2.4.1 UAE Automotive Chassis market By Chassis Type
9.5.2.4.2 UAE Automotive Chassis market By Vehicle Type
9.5.2.5 Egypt
9.5.2.5.1 Egypt Automotive Chassis market By Chassis Type
9.5.2.5.2 Egypt Automotive Chassis market By Vehicle Type
9.5.2.6 Saudi Arabia
9.5.2.6.1 Saudi Arabia Automotive Chassis market By Chassis Type
9.5.2.6.2 Saudi Arabia Automotive Chassis market By Vehicle Type
9.5.2.7 Qatar
9.5.2.7.1 Qatar Automotive Chassis market By Chassis Type
9.5.2.7.2 Qatar Automotive Chassis market By Vehicle Type
9.5.2.8 Rest of Middle East
9.5.2.8.1 Rest of Middle East Automotive Chassis market By Chassis Type
9.5.2.8.2 Rest of Middle East Automotive Chassis market By Vehicle Type
9.5.3 Africa
9.5.3.1 Africa Automotive Chassis market by Country
9.5.3.2 Africa Automotive Chassis market By Chassis Type
9.5.3.3 Africa Automotive Chassis market By Vehicle Type
9.5.2.4 Nigeria
9.5.2.4.1 Nigeria Automotive Chassis market By Chassis Type
9.5.2.4.2 Nigeria Automotive Chassis market By Vehicle Type
9.5.2.5 South Africa
9.5.2.5.1 South Africa Automotive Chassis market By Chassis Type
9.5.2.5.2 South Africa Automotive Chassis market By Vehicle Type
9.5.2.6 Rest of Africa
9.5.2.6.1 Rest of Africa Automotive Chassis market By Chassis Type
9.5.2.6.2 Rest of Africa Automotive Chassis market By Vehicle Type
9.6 Latin America
9.6.1 Trend Analysis
9.6.2 Latin America Automotive Chassis market by Country
9.6.3 Latin America Automotive Chassis market By Chassis Type
9.6.4 Latin America Automotive Chassis market By Vehicle Type
9.6.5 Brazil
9.6.5.1 Brazil Automotive Chassis market By Chassis Type
9.6.5.2 Brazil Automotive Chassis market By Vehicle Type
9.6.6 Argentina
9.6.6.1 Argentina Automotive Chassis market By Chassis Type
9.6.6.2 Argentina Automotive Chassis market By Vehicle Type
9.6.7 Colombia
9.6.7.1 Colombia Automotive Chassis market By Chassis Type
9.6.7.2 Colombia Automotive Chassis market By Vehicle Type
9.6.8 Rest of Latin America
9.6.8.1 Rest of Latin America Automotive Chassis market By Chassis Type
9.6.8.2 Rest of Latin America Automotive Chassis market By Vehicle Type
10. Company Profiles
10.1 Schaeffler Technologies
10.1.1 Company Overview
10.1.2 Financial
10.1.3 Products/ Services Offered
10.1.4 The SNS View
10.2 Hyundai Motor
10.2.1 Company Overview
10.2.2 Financial
10.2.3 Products/ Services Offered
10.2.4 The SNS View
10.3 Aisin Seiki
10.3.1 Company Overview
10.3.2 Financial
10.3.3 Products/ Services Offered
10.3.4 The SNS View
10.4 Mahna International
10.4.1 Company Overview
10.4.2 Financial
10.4.3 Products/ Services Offered
10.4.4 The SNS View
10.5 Continental Ag
10.5.1 Company Overview
10.5.2 Financial
10.5.3 Products/ Services Offered
10.5.4 The SNS View
10.6 Tower International
10.6.1 Company Overview
10.6.2 Financial
10.6.3 Products/ Services Offered
10.6.4 The SNS View
10.7 CIE Automotive
10.7.1 Company Overview
10.7.2 Financial
10.7.3 Products/ Services Offered
10.7.4 The SNS View
10.8 REE Automotive
10.8.1 Company Overview
10.8.2 Financial
10.8.3 Products/ Services Offered
10.8.4 The SNS View
10.9 ZF Friedrichshafen AG
10.9.1 Company Overview
10.9.2 Financial
10.9.3 Products/ Services Offered
10.9.4 The SNS View
10.10 CIE Automotive
10.10.1 Company Overview
10.10.2 Financial
10.10.3 Products/ Services Offered
10.10.4 The SNS View
11. Competitive Landscape
11.1 Competitive Benchmarking
11.2 Market Share Analysis
11.3 Recent Developments
11.3.1 Industry News
11.3.2 Company News
11.3.3 Mergers & Acquisitions
12. USE Cases and Best Practices
13. Conclusion
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