PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1760764
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1760764
Global Automotive Chassis Market to Reach US$93.6 Billion by 2030
The global market for Automotive Chassis estimated at US$64.0 Billion in the year 2024, is expected to reach US$93.6 Billion by 2030, growing at a CAGR of 6.5% over the analysis period 2024-2030. High Strength Steel, one of the segments analyzed in the report, is expected to record a 6.3% CAGR and reach US$53.2 Billion by the end of the analysis period. Growth in the Aluminum Alloy segment is estimated at 7.1% CAGR over the analysis period.
The U.S. Market is Estimated at US$12.6 Billion While China is Forecast to Grow at 9.9% CAGR
The Automotive Chassis market in the U.S. is estimated at US$12.6 Billion in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$26.2 Billion by the year 2030 trailing a CAGR of 9.9% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.5% and 4.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR.
Global Automotive Chassis Market - Key Trends & Drivers Summarized
The automotive chassis is the foundational structure of a vehicle, providing the necessary support and stability to all other components, including the engine, transmission, wheels, and body. Essentially, it serves as the skeleton of the vehicle, ensuring structural integrity and safety. The design and construction of a chassis are crucial as they directly impact a vehicle's performance, handling, and durability. Chassis types can vary widely depending on the vehicle type and its intended use, from the robust ladder frame used in trucks and SUVs to the more lightweight and rigid unibody design found in most passenger cars. Innovations in materials, such as high-strength steel, aluminum, and composites, have significantly enhanced chassis performance, contributing to better fuel efficiency, safety, and overall vehicle dynamics.
Technological advancements have brought significant improvements to automotive chassis design and manufacturing processes. Modern chassis are often designed using advanced computer-aided engineering (CAE) tools that allow for precise simulations and optimizations, ensuring maximum strength while minimizing weight. The integration of sophisticated manufacturing techniques such as hydroforming and laser welding has further improved the rigidity and durability of chassis components. Moreover, advancements in suspension systems, which are integral to the chassis, have greatly improved ride quality and handling. Adaptive suspension technologies that can automatically adjust to driving conditions enhance both comfort and performance. Additionally, the rise of electric vehicles (EVs) has spurred innovation in chassis design, with many EVs adopting skateboard chassis architectures that integrate the battery pack into the floor of the vehicle, lowering the center of gravity and improving stability.
The growth in the automotive chassis market is driven by several factors, including increasing vehicle production, technological advancements, and the rising demand for electric and autonomous vehicles. As global vehicle production continues to rise, driven by economic growth and increasing mobility needs, the demand for advanced chassis systems is also expanding. Technological advancements that lead to lighter, stronger, and more efficient chassis designs are crucial, as they contribute to improved fuel efficiency and reduced emissions, aligning with stringent environmental regulations. The growing popularity of electric vehicles is another significant driver, as these vehicles require specially designed chassis to accommodate batteries and electric drivetrains. Additionally, the development of autonomous driving technologies necessitates more sophisticated chassis systems capable of integrating with various sensors and control systems to ensure safety and reliability. The continuous evolution of automotive technologies and consumer preferences towards higher performance and safer vehicles ensures robust growth and ongoing innovation in the automotive chassis market.
SCOPE OF STUDY:
The report analyzes the Automotive Chassis market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Material (High Strength Steel, Aluminum Alloy, Carbon Fiber Composite); Chassis Type (Monocoque, Modular, Backbone, Ladder); Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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