Automotive Chassis Market to Expand at a CAGR of ~6% | ~USD 110 Billion

Automotive chassis market is estimated to garner a revenue of ~USD 110 billion by the end of 2033 by growing at a CAGR of ~6%

NEW YORK, NEW YORK, UNITED STATE, January 27, 2023 /EINPresswire.com/ -- Global Automotive Chassis Market Key Insights

During the forecast period of 2023-2033, the global automotive chassis market is expected to reach an estimated value of ~USD 110 billion by 2033, by expanding at a CAGR of ~6%. The market further generated a revenue of ~USD 64 billion in the year 2022. Major key factors propelling the growth of automotive chassis market worldwide are the growing development of automotive chassis and rising production of vehicles worldwide.

Market Definition of Automotive Chassis

Automotive chassis is considered to be one of the key structures of an automobile. Chassis is the frame which holds both the power train and the car body. Most mechanical parts such as the engine and the drive train, the suspension parts, the brakes, the steering components, the axle assemblies including the wheels are bolted onto the chassis. The innovations and developments in the automobile sector demand for the chassis that provides strength needed for supporting the different vehicular components as well as the payload and helps to keep the automobile rigid and stiff. With the recent advancements in chassis framework as well as rising penetration of cars, the demand for automotive chassis is on the rise amongst the automobile users, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global automotive chassis market during the forecast period.

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Global Automotive Chassis Market: Growth Drivers

The growth of the global automotive chassis market can majorly be attributed to the innovation presentation of several advanced products by the key players operating in the market. For instance, Schaeffler Group – presented product innovations for the future of mobility with innovative solutions from Schaeffler’s electro mobility, chassis systems, and hydrogen technology operations. On the other hand, the market growth can also be attributed to the several partnership contracts occurring in the field of automotive chassis. For instance, GestampServicios, S.A., – announced partnership with ArcelorMittal to put low-carbon emissions steel parts on the automotive production line.

The global automotive chassis market is also estimated to grow majorly on account of the following:

Surging Dependencies on Heavy Commercial Vehicles
Increase Number of Buses
Rise in the Demand for Sports Cars
Rising Number of Trailers
Global Automotive Chassis Market: Restraining Factor

There are high cost of manufacturing, and fluctuating cost of raw materials in the market. Hence, these factors are expected to be the major hindrance for the growth of the global automotive chassis market during the forecast period.

Global Automotive ChassisMarket Segmentation

By Product Type (Frame Chassis, Backbone Chassis, Monocoque Chassis, Subframes)
The monocoque chassis segment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2033. The growth of the segment can be attributed to the growing demand passenger cars along with the surge in the production of cars worldwide. For instance, China produced nearly 20 million cars passenger cars in 2020.

By Material (Steel, Aluminum Alloy, Carbon Fiber Composite)
By Vehicle Type (Cars, Light Commercial Vehicles, Heavy Commercial Vehicles and Buses)
By Region
The Asia Pacific automotive chassis market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions. Presence of a strong automobile network in the region, growing export of automobiles, as well as the rising production of vehicles in the region are some of the major factors anticipated to drive the growth of the market in the Asia Pacific during the forecast period. For instance, China accounted for ~32% of the global vehicle production in 2021.

The market research report on global automotive chassis also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

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Key Market Players Featured in the Global Automotive ChassisMarket

Some of the key players of the global automotive chassis market areSchaeffler Group, Stellantis N.V., Benteler International AG, Aisin Corporation, Continental AG, Hyundai Mobis Co., Ltd., and others.

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