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Automotive Chassis Market Overview:
Automotive Chassis Market size is estimated to reach $115.4 billion by 2030, growing at a CAGR of 5.5% during the forecast period 2024-2030. The market for automotive chassis is primarily driven by increasing environmental concerns. Automakers are introducing hybrid powertrains across various vehicle segments to improve fuel efficiency, reduce emissions, and meet regulatory requirements.
Increased demand for electric vehicles (EVs) in the US automotive industry is partly driven by government incentives and subsidies to promote clean energy adoption. Federal tax credits, state rebates, and other incentives encourage consumers to purchase EVs, reducing the overall cost of ownership and making electric vehicles more appealing in the market. Growing environmental awareness and concerns about climate change prompt consumers to seek alternative transportation solutions with lower carbon footprints. EVs are perceived as environmentally friendly options due to their zero tailpipe emissions, contributing to air quality improvement and reducing greenhouse gas emissions, thus driving demand for electric vehicles in the US automotive industry. Technological advancements in battery technology, such as increased energy density, faster charging capabilities, and declining costs, enhance the performance and viability of electric vehicles. Improvements in battery technology address key concerns regarding range anxiety and charging infrastructure, making EVs more practical and appealing to consumers, thus stimulating demand in the US automotive chassis market.
Market Snapshot:
Automotive Chassis Market - Report Coverage:
The “Automotive Chassis Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Automotive Chassis Market
| Attribute | Segment |
|---|---|
|
Drive Type |
● Internal Combustion Engine ○ Diesel ○ Gasoline ● Electric Vehicle ○ PHEV ○ HEV ○ Pure Electric |
|
By Vehicle Type |
● Passenger Cars ○ Small Car ○ Sedan ○ SUV ○ Others ● Heavy Commercial Vehicle ● Light Commercial Vehicle |
|
By Frame Material |
● Steel ○ Advanced high-strength steel ○ High Carbon Steel ○ Others ● Aluminum Alloy ● Carbon Fiber Composites ● Others |
|
By Level of Autonomy |
● Level 0 ● Level 1 ● Level 2 ● Level 3 ● Level 4 ● Level 5 |
|
By Chassis Subsystem |
● Frame ○ Monocoque ○ Ladder ○ Chassis Rail ○ Others ● Steering ○ Fly-by-Wire System ○ Redundant Steering System ○ Others ● Braking ○ Redundant Braking System ○ Brake-by-Wire System ○ Automatic Emergency Braking (AEB) System ○ Others ● Suspension ● Tires ● Others |
|
By Geography |
● North America ● Europe ● South America ● APAC ● RoW |
COVID-19 / Ukraine Crisis - Impact Analysis:
- The COVID-19 epidemic has left a significant impact on the automotive sector. Rising coronavirus incidence throughout the world prompted strict social separation and lockdown standards, causing supply chain disruption and hurting product demand. The COVID-19 problem affected sectors globally, with the global economy suffering the most in 2020 and 2021. The pandemic caused damage on main businesses such as shipping, retail, and e-commerce. The major fall in the transportation industry has hampered the expansion of the worldwide automotive market. The market is gradually recovering by increasing governments investments in electric vehicles.
- The Russia-Ukraine war has broader consequences on the global economy, including energy prices, supply chains, and trade flows. These macroeconomic factors have indirectly affected overall demand for automotive chassis. A major conflict causes economic instability, affecting sectors all across the world. Advancements in automotive technology have improved the fuel efficiency and performance of SUVs and crossovers, making them more appealing to consumers concerned about operating costs and environmental impact.
Key Takeaways:
Internal Combustion Engine Type is Leading the Market
Internal combustion engine type accounted for the largest share in 2022 and is estimated to reach $25,110 million by 2030. The Internal Combustion Engine segment in the U.S. Automotive Chassis Market is propelled by burning fuel within an engine to generate power. These vehicles can be powered by either diesel or gasoline fuel types. Continued demand for internal combustion engine vehicles in various segments of the automotive market, particularly in light trucks, SUVs, and commercial vehicles.
Passenger Cars Type to Register Highest Growth
Passenger cars segment is analyzed to grow with the highest CAGR 5.6% in the U.S. Automotive Chassis Market during the forecast period 2024-2030. The increasing awareness and emphasis on safety features in passenger cars have become a significant driver for the automotive chassis market as consumers are seeking vehicles equipped with advanced chassis systems that enhance overall safety, including features such as electronic stability control (ESC), anti-lock braking systems (ABS), and advanced driver assistance systems (ADAS).
Growing Demand for Electric Vehicles (EVs) Is Driving the Market Growth.
Increased demand for electric vehicles (EVs) in the US automotive industry is partly driven by government incentives and subsidies to promote clean energy adoption. Federal tax credits, state rebates, and other incentives encourage consumers to purchase EVs, reducing the overall cost of ownership and making electric vehicles more appealing in the market.
Growing environmental awareness and concerns about climate change prompt consumers to seek alternative transportation solutions with lower carbon footprints. EVs are perceived as environmentally friendly options due to their zero tailpipe emissions, contributing to air quality improvement and reducing greenhouse gas emissions, thus driving demand for electric vehicles in the US automotive industry.
High R&D Costs and Technology Adoption as a Major Challenge
The automotive industry faces the challenge of high R&D costs associated with the development of advanced technologies and innovative solutions. Automakers invest significant resources in R&D activities to stay competitive and meet evolving consumer demands, driving up overall production costs and posing financial challenges for industry players. Rapid technological advancements in areas such as electrification, autonomous driving, and connectivity increase the complexity of integrating new technologies into vehicles. Adopting and implementing cutting-edge technologies require substantial investments in research, testing, and validation processes to ensure functionality, reliability, and compliance with safety standards.
Key Market Players:
Product launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Automotive Chassis Market. The top 10 companies in this industry are listed below:
- ThyssenKrupp AG
- Robert Bosch LLC
- Hitachi Astemo Americas, Inc.
- Schaeffler Group USA Inc.
- HL Mando Corporation
- Aisin U.S.A. Mfg., Inc.
- Magna International
- Continental AG
- Nexteer Automotive
- NSK Ltd.
Scope of the Report:
| Report Metric | Details |
|---|---|
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
CAGR |
5.5% |
|
Market Size in 2030 |
$ 115.4 billion |
|
Segments Covered |
Drive Type, Vehicle Type, Frame Material, Level of Autonomy, Chassis Subsystem and Region |
|
Geographies Covered |
North America, South America, Europe, APAC, RoW |
Key Market Players |
|
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1. Automotive Chassis Market – Market Overview
1.1. Definition and Scope
2. Automotive Chassis Market - Executive Summary
2.1. Key Trends by Component
2.2. Key Trends by Region
3. Automotive Chassis Market – Comparative Analysis
3.1. Product Bench Marking – Key Companies
3.2. US Financial Analysis – Key Companies
3.3. Market Share Analysis – Key Companies
3.4. Patent Analysis
3.5. Pricing Analysis
4. Automotive Chassis Market – Startup Companies Scenario
4.1. Key Startup Company Analysis by
4.1.1. Investment
4.1.2. Revenue
4.1.3. Product Portfolio
4.1.4. Venture Capital and Funding Scenario
5. Automotive Chassis Market – Market Entry Scenario Premium
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing Business Index
5.3. Case Studies of Successful Ventures
5.4. Customer Analysis
6. Automotive Chassis Market – Forces
6.1. Market Drivers
6.2. Market Constraints
6.3. Porter’s Five Force Model
6.3.1. Bargaining Power of Suppliers
6.3.2. Bargaining Powers of Customers
6.3.3. Threat of New Entrants
6.3.4. Rivalry Among Existing Players
6.3.5. Threat of Substitutes
7. Automotive Chassis Market – Strategic Analysis
7.1. Value/Supply Chain Analysis
7.2. Opportunities Analysis
7.3. Product/Market Life Cycle
7.4. Distributor Analysis – Major Companies
8. Automotive Chassis Market – By Drive Type
8.1. Internal Combustion Engine
8.1.1. Diesel
8.1.2. Gasoline
8.2. Electric Vehicle
8.2.1. PHEV
8.2.2. HEV
8.2.3. Pure Electric
9. Automotive Chassis Market – By Vehicle Type
9.1. Passenger Cars
9.1.1. Small Car
9.1.2. Sedan
9.1.3. SUV
9.1.4. Others
9.2. Heavy Commercial Vehicle
9.3. Light Commercial Vehicle
10. Automotive Chassis Market – By Frame Material
10.1. Steel
10.1.1. Advanced high-strength steel
10.1.2. High Carbon Steel
10.1.3. Others
10.2. Aluminum Alloy
10.3. Carbon Fiber Composites
10.4. Others
11. Automotive Chassis Market – By Level of Autonomy
11.1. Level 0
11.2. Level 1
11.3. Level 2
11.4. Level 3
11.5. Level 4
11.6. Level 5
12. Automotive Chassis Market – By Chassis Subsystem
12.1. Frame
12.1.1. Monocoque
12.1.2. Ladder
12.1.3. Chassis Rail
12.1.4. Others
12.2. Steering
12.2.1. Fly-by-Wire System
12.2.2. Redundant Steering System
12.2.3. Others
12.3. Braking
12.3.1. Redundant Braking System
12.3.2. Brake-by-Wire System
12.3.3. Automatic Emergency Braking (AEB) System
12.3.4. Others
12.4. Suspension
12.5. Tires
12.6. Others
13. Automotive Chassis Market – By Geography
13.1. North America
13.1.1. U.S
13.1.2. Canada
13.1.3. Mexico
13.2. South America
13.2.1. Brazil
13.2.2. Argentina
13.2.3. Chile
13.2.4. Colombia
13.2.5. Others
13.3. Europe
13.3.1. Germany
13.3.2. France
13.3.3. UK
13.3.4. Italy
13.3.5. Spain
13.3.6. Russia
13.3.7. Netherlands
13.3.8. Others
13.4. APAC
13.4.1. China
13.4.2. Japan
13.4.3. South Korea
13.4.4. India
13.4.5. Australia
13.4.6. Indonesia
13.4.7. Malaysia
13.4.8. Others
13.5. RoW
13.5.1. Middle East
13.5.2. Africa
14. Automotive Chassis Market – Entropy
14.1. New Product Launches
14.2. M&As, Collaborations, JVs and Partnerships
15. Automotive Chassis Market – Industry/Segment Competition Landscape
15.1. Company Benchmarking Matrix – Major Companies (Top 10 US Companies)
15.2. Market Share at US Level - Major companies (10 Companies at US Level
15.3. Market Share by Derivatives - Major companies (5 Companies per Form/will be provided for major derivatives)
15.4. Market Share by Component - Major companies (5 Companies per Component)
16. Automotive Chassis Market – Key Company List by Country Premium
17. Automotive Chassis Market – Company Analysis
17.1. ThyssenKrupp AG
17.2. Robert Bosch LLC
17.3. Hitachi Astemo Americas, Inc.
17.4. Schaeffler Group USA Inc.
17.5. HL Mando Corporation
17.6. Aisin U.S.A. Mfg., Inc.
17.7. Magna International
17.8. Continental AG
17.9. Nexteer Automotive
17.10. NSK Ltd.
● "Financials to the Private Companies would be provided on best-effort basis."
The Automotive Chassis Market is projected to grow at 5.5% CAGR during the forecast period 2024-2030.
U.S. Automotive Chassis Market size is estimated to surpass $117.3 billion by 2030 from $78.9 billion in 2023
The leading players in the Automotive Chassis Market are Magna, Nexteer Automotive, ThyssenKrupp AG, Robert Bosch LLC, Hitachi Astemo Americas, Inc., and others.
Intense competition among OEMs has spurred technological advancements to meet rising demand. Collaboration between automakers, technology companies, and other stakeholders is driving progress in autonomous driving technology.
Growing demand for electric vehicles (EVs), shift towards autonomous driving, consumer preference for SUVs and crossovers, and increasing focus on vehicle safety are some of the driving factors of the market. Moreover, increasing focus on vehicle safety among the factors opportunities of the market growth.