Automotive Chassis Market Size, Share, Trends, Growth, Analysis, Research
Automotive Chassis Market: Key Highlights
- According to the new market research report “Automotive Chassis Market by Type (Ladder Chassis, Backbone Chassis, Monocoque Chassis, Tubular Chassis, and Combination Chassis), by Material (Steel, Aluminum, Carbon Fiber Composite, Magnesium, Titanium, and Others), by Vehicle Type (Internal Combustion Engine, Electric Vehicles and Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2019 to 2027)”, the automotive chassis market is estimated to reach around USD 85.3 Billion by 2027 at a CAGR of around 5.3% during the review period
- The increasing need for lowering CO2 emission is a key factor driving the demand for the automotive chassis market
- However, the fluctuating raw material prices remain a major restraining factor for the market growth
Automotive Chassis Market: Key Market Dynamics
- The rise in automobile production in developing nations has increased the usage of lightweight materials which is indirectly propelling automotive chassis market growth
- Stringent government regulations for lowering CO2 emission are pushed automotive manufacturers in the production of lightweight chassis system
- Growing adoption of electric vehicles is anticipated to boost the automotive chassis market in the future
- Current material limitation is likely to act as a challenge for market growth
Automotive Chassis Market: Regional Overview
The growth in the Asia-Pacific region is attributed to the high production and sales of automobiles. This region has witnessed high penetration of aluminum alloy chassis systems due to the rising adoption of electric vehicles in countries such as China, Thailand, Australia, and Japan which are expected to boost the market growth.
In Europe, the increasing vehicle production, and demand for the lightweight body are expected to propel the demand for automotive chassis market. Furthermore, the current vehicle generation in Europe is 70–140 kg of weight reduction per car which results in saving 982 million liters’ fuel and about 2.3-million-ton reduction in CO2 Emissions. Moreover, innovations made by high-end vehicle manufacturers for chassis technology have also propelled the market growth in Europe.
Automotive Chassis Market: Key Players Overview
- Magna International Inc.:
Magna International Inc. company manufactures automotive parts. The company offers chassis structures, transmissions, body exteriors, seating, lighting, and fuel systems. In April 2018, the company celebrated the opening of a new body and Chassis manufacturing plant in San Luis Potosí, Mexico.
- BENTELER International AG:
BENTELER International AG manufactures and develops chassis systems, structures, welded tubes, engines, and seamless tubes. In April 2019, the company had started a development alliance with Robert Bosch GmbH company to develop products and systems of rolling chassis for battery electric vehicles.
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