Automotive Chassis Market Research Report - Global Forecast to 2030

Automotive Chassis Market Information Report by Chassis Type (Backbone, Ladder, Monocoque, Modular, and Others), Material (Steel, Aluminum Alloy, Carbon Fiber Composite), Chassis System (Axle, Corner Modules, and Active Kinematics Control), Vehicle Type (Passenger Car and Commercial Vehicle), and region | Forecast 2030

ID: MRFR/AM/3745-HCR | February 2021 | Region: Global | 100 pages         

Automotive Chassis Market

Automotive Chassis Market Size Valued at USD 48.37 Billion, market Grow at a CAGR Of 6% by 2021 -2027

Segmentation

By Chassis Type Backbone Ladder Monocoque Modular Others
By Material Steel Aluminum Alloy Carbon Fiber Composite
By Chassis System Axle Corner Modules Active Kinematics Control
By Vehicle Type Passenger Car Commercial Vehicle

Key Players

  • Continental (Germany)
  • ZF Friedrichshafen (Germany)
  • Magna (Canada)
  • Schaeffler (Germany)
  • Aisin Seiki (Japan)
  • CIE Automotive (Spain)
  • Benteler (Germany)
  • Hyundai Mobis (Korea Republic)
  • AL-KO (Germany)
  • Gestamp (Spain)

Drivers

  • Light weight
  • Increased investment in research & development
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Automotive Chassis Market Overview


In the automotive chassis market, 2016 has been considered the base year and 2017–2025 as the forecast period for estimating the market size. The market was estimated to be USD 48.37 Billion in 2016. In terms of value, the market is projected to grow at a CAGR of 5.76% from 2017 to 2025.


The chassis is the internal frame that holds all the vehicle's body parts. It is said to be light, aerodynamic, and malleable. These qualities of the chassis improve fuel efficiency and improve the quality of the vehicle. The chassis systems integrate the functions of all the vehicles in various systems. There are additional features available in the chassis systems, like automatic fault detection, which alerts the driver about any malfunction in the system.


COVID 19 Analysis


The automotive chassis market trends suggest that they have been impacted by the outbreak of the coronavirus pandemic in 2020. The outbreak has been an unquestionable emergency, and the rising cases have led to strict lockdowns that have further impacted the market's supply and demand chain mechanism. However, with the rising degree of innovation and funding by the key players and global governments, the future for the automotive chassis market looks bright.


Market Dynamics



  • Drivers


The main factors that drive the growth of the global automotive chassis system market include an increase in demand for a fuel-efficient vehicle, the surge in innovations and technological advancements, and a rise in automobile production. On the other hand, fluctuating prices of raw materials and decreasing vehicle ownership due to increasing shared mobility are factors that would restrain the market's growth. Also, the development of ultra-light chassis systems, which makes way for new companies to enter the market without much R&D investment, is expected to provide opportunities for stock growth. Moreover, the advent of battery-electric driven propulsion in the light commercial vehicle, medium & heavy commercial vehicles, and buses & coaches has further boosted the automotive chassis market scope. There has been a growing demand for fuel-efficient vehicles will spur competition among key players to launch advanced fuel-efficient vehicles to cater to the demand.



  • Restraints


However, reaching the growth figures projected for the automotive chassis market during the continuous period that ends in 2027 is not an easy journey. Factors like strict restrictions and the lack of resources, funding, investment, and ideas are likely to pose significant challenges for the market.



  • Technology Analysis


The emergence of electric and hybrid vehicles has compelled manufacturers to invest in R&D for the development of innovative chassis design, which will facilitate healthy growth of the market. The growing application of designing tools and software and advancement in manufacturing processes such as advanced computer-aided engineering, additive manufacturing, and artificial intelligence will improve the market during the forecast period. Design for automotive chassis market systems such as ladder chassis, monocoque chassis, and modular frame chassis has been evolving. The latest trend in the automotive industry is to manufacture chassis with lighter material, which will make the vehicles lighter without compromising the vehicle's safety. Moreover, there has been a rise in the growth regulations regarding carbon emissions will also create new opportunities for the automotive chassis market during the forecast period. Moreover, key players' strategic partnerships and equations will facilitate the automotive chassis market share in the forthcoming years. For instance, in May 2019, Schaeffler AG acquired XTRONIC GmbH, the new development aid for Schaeffler's Chassis Systems and E-Mobility business divisions.


Segment Overview


The automotive chassis market has been segmented to meet the rising needs of the global target audience and hence, expand the global market share as projected by the business chiefs during the continuous period that ends in 2027:


By Chassis Type



  • Backbone Chassis

  • Ladder Chassis

  • Monocoque Chassis

  • Modular Chassis


By Material



  • High Strength Steel

  • Aluminum Alloy

  • Mild Steel

  • Carbon Fiber Composite


By Vehicle Type



  • Passenger Car

  • Light Commercial Vehicle

  • Heavy Commercial Vehicle


By Electric Vehicle Type



  • Battery Electric Vehicle

  • Hybrid Electric Vehicle

  • Plug-In Hybrid Electric Vehicle


By Region



  • North America

  • Asia Pacific

  • Europe

  • RoW


Regional Analysis


The Asia Pacific region is estimated to dominate the market, in terms of value, in 2017, followed by North America and Europe. Demand for lighter weight chassis has risen in recent years, with suppliers catering to domestic demand and overseas demand. Moreover, in 2025 the region is likely to lead the electric vehicle market, in the form of volume, followed by Europe and North America, as critical suppliers are significantly investing in expanding their presence in the Asia Pacific. The market in North America stood at 11.9 million units in 2018 and is predicted to remain dominant during the forecast period owing to the growing demand for lightweight and fuel-efficient vehicles in the region. The quantum of growing production of lightweight vehicles to cater to the demand will augment healthy growth in North America. The Asian Pacific region is expected to grow significantly during the forecast period. The growth in the APAC region is attributed to the rising demand for cars in developing countries of Asia Pacific, such as China and India. There has been a rise in the safety structure of vehicles will fuel demand for the sustainable chassis system, accelerating the automotive chassis market trends in the Asia Pacific. The European region is predicted to witness considerable growth during the forecast period. The growth in the European region is attributable to the well-established automotive industry and the presence of renowned automobile companies.


Moreover, there has been a rise in the growing government policies to curb carbon emissions will also promote the market in Europe. For instance, The European Union has unilaterally decided to shift to zero-emission vehicles by the end of 2030. The surge in electric vehicles in the European region will also propel healthy growth of the market in the region. As the modular chassis type iof the global market functions s mainly used in electric vehicles, the growth of ladder and monocoque chassis in Europe is predicted to escalate.


Competitive Landscape


The automotive chassis market is witnessing the rise of competition due to the developments undertaken during the ongoing forecast period that will be ending in 2027. The global companies that are participating in the market operations for the expansion of the global market size are mentioned as follows:



  • Continental (Germany)

  • KLT Auto (India)

  • CIE Automotive (Spain)

  • ZF (Germany)

  • F-Tech (Japan)

  • Tower International (US)

  • Magna (Canada)

  • Schaeffler (Germany)

  • Benteler (Germany)

  • Aisin Seiki (Japan)


Recent Developments


By raw material, the market for aluminum alloy is estimated to experience the highest growth during the forecast period. With regulations to make vehicles more environmentally friendly and the quick adoption of electric vehicles, aluminum alloy-induced chassis system is to gain tensile affinity from automotive OEMs. And during the forecast period, aluminum will gain a higher market share in contrast to other raw materials for manufacturing chassis systems.


In electric vehicle type, skateboard chassis will gain a larger stock share during the forecast time. The Skateboard chassis consists of a frame that enables it to hold the massive battery pack that spans the entire frame area, i.e., between the four wheels and the suspension, brakes, and cylindrical motors. Moreover, this chassis system can support different body styles for different applications.


Monocoque chassis is said to hold the largest market share in the market. With the implementation of mandates to make vehicles safer and fuel-efficient with lesser emissions, monocoque chassis is expected to grow better than other chassis types, such as ladder chassis in the passenger car segment.


In the HCV segment, modular chassis is expected to rise well due to its advantages, such as providing better stability to the vehicle body and a lightweight compared to conventional ladder chassis systems.


Intended Audience



  • Tier 1 manufacturers

  • Automotive associations

  • Raw material suppliers

  • Vehicle manufacturers/OEMs

  • Automotive software providers

  • Automotive chassis suppliers


Report Overview


The report analyzes and forecasts the global market size in volume (units). The report divides the market and forecasts its size, by volume & value, based on chassis type, material type, vehicle type, electric vehicle type, and region. It adds a detailed analysis of various forces acting in the market (drivers, restraints, opportunities, and challenges). It strategically profiles key players and comprehensively analyzes their market shares and root competencies. The report also tracks and analyzes competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other activities carried out by key industry players.


The research methodology used in the report involves various secondary sources like the International Organization of Motor Vehicle Manufacturers (OICA), the China Association of Automobile Manufacturers (CAAM), and others. Experts from interlinked industries and suppliers have been interviewed to understand the future trends of the market. The bottom-up and top-down approaches have been used to estimate and validate the size of the international market. The market size, by volume, is formed by identifying the total production volumes and analyzing the demand trends.



Report Scope:
Report Attribute/Metric Details
  Market Size   2030 : Significant Value
  CAGR   5.76% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019ย &ย 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Technology, By Material, By Application, By Vehicle type
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Continental (Germany), ZF Friedrichshafen (Germany), Magna (Canada), Schaeffler (Germany), Aisin Seiki (Japan), CIE Automotive (Spain), Benteler (Germany), Hyundai Mobis (Korea Republic) and AL-KO (Germany), Gestamp (Spain)
  Key Market Opportunities   Increased investment in research & development
  Key Market Drivers   Light weight


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Frequently Asked Questions (FAQ) :

The automotive chassis market is anticipated to expand at 5.76% CAGR.

The segments of the automotive chassis market identified on the basis of material are aluminum alloy, steel, and carbon fiber composite.

The aluminum alloy segment is projected to dominate the automotive chassis market.

By chassis type, the segments of the automotive chassis market are backbone, monocoque, modular, ladder, and others.

The key participants are Continental (Germany), Magna (Canada), ZF Friedrichshafen (Germany), Schaeffler (Germany), Hyundai Mobis (Korea Republic), CIE Automotive (Spain), Aisin Seiki (Japan), Benteler (Germany), and AL-KO (Germany), and Gestamp (Spain).