Automotive Chassis Market Trends

Growth Drivers

• Growing Dependencies on Heavy Commercial Vehicles – chassis being the structural skeleton for every vehicle including truck. Chassis is the platform on which the truck is laid on as it contains the axles, fuel tank engine, cab, and batteries. The rising dependency on trucks is expected to boost the automotive chassis market in the projected period. For instance, ~70% of all freight transported United States depends on trucks for deliveries.

• Rising Number of Buses - for instance, there were almost 167,200 units of bus in the world in 2021.

• Upsurge in the Demand for Sports Cars – which accounted for about 1.5% of the total United States car sales in 2021.

• Increasing Number of Trailers – it was found that, in 2021, there were more than 2.5 million tractor trailers in United States alone.

Challenges

• High Cost of Manufacturing
• Fluctuating Cost of Raw Materials
• Increasing Trend of Shared Mobility

The global automotive chassis market is segmented and analyzed for demand and supply by product type into frame chassis, backbone chassis, monocoque chassis, and subframes. Amongst these segments, the monocoque chassis segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing demand passenger cars along with the surge in the production of cars worldwide. For instance, China produced ~20 million cars passenger cars in 2020.