Automotive Chassis Systems Market Forecasts to 2030 – Global Analysis By Component (Control Arms, Ball Joints, Cross Members, Knuckles and Hubs, Subframes and Other Components), Chassis Type, Chassis System, Material Type, Vehicle Type, Sales Channel, App

According to Stratistics MRC, the Global Automotive Chassis Systems Market is accounted for $97.88 billion in 2024 and is expected to reach $148.54 billion by 2030 growing at a CAGR of 7.2% during the forecast period. Automotive chassis systems play a crucial role in the overall performance, safety, and comfort of vehicles. These systems are intended to give the car structural support, guaranteeing stability and longevity while also making it easier to integrate crucial parts like the steering, braking, and suspension systems. As the vehicle's foundation, the chassis distributes loads and forces throughout the body to lessen the effect of road conditions on occupants. Moreover, modern chassis systems are getting lighter, stronger, and more efficient due to improvements in materials and design. As manufacturers strive to optimize these platforms for next-generation vehicles, major advancements in automotive chassis systems are also being driven by innovations in electric and autonomous vehicle technologies.

According to the International Energy Agency (IEA), the global electric car stock reached 10 million in 2020, a 43% increase over 2019.

Market Dynamics:

Driver:

Demand for emissions reduction and fuel efficiency

The automotive industry's growing emphasis on sustainability and environmental responsibility further fuels this trend, with chassis systems becoming an essential part of efforts to meet global environmental standards and consumer expectations for green vehicles. Additionally, the push for better fuel efficiency and the reduction of CO2 emissions has motivated automakers to look for ways to reduce the weight of their vehicles. Lighter chassis systems made from advanced materials not only contribute to overall vehicle weight reduction but also improve fuel efficiency, which is crucial in an era of rising fuel prices and strict emissions standards.

Restraint:

Expensive production costs

Advanced automotive chassis systems are frequently produced using costly materials and intricate manufacturing techniques, which can raise the vehicle's total cost. Despite being better for performance and fuel economy, lightweight materials like carbon fiber, magnesium alloys, and high-strength steel can be much more expensive than conventional materials. Furthermore, integrating cutting-edge technologies like electronic stability control, active suspension systems, and sensors for autonomous driving complicates the production process and raises costs even more. Because of this, automakers may find it difficult to implement these cutting-edge chassis systems without drastically increasing the cost of their vehicles, particularly those that build entry-level or low-cost models.

Opportunity:

Use of lightweight substances

The use of lightweight materials in automotive chassis systems is being driven by the growing need for fuel efficiency and emission reduction. Manufacturers of chassis have the chance to experiment and improve how these materials are used, resulting in lighter and more energy-efficient cars without sacrificing performance. Moreover, long-term opportunities to create and manufacture lighter chassis solutions are presented by the increased focus on fuel economy and environmental sustainability, which is in line with international environmental standards and consumer demands for environmentally friendly automobiles.

Threat:

Global crises and unstable economies

Global crises like the COVID-19 pandemic, geopolitical unrest and economic instability can all seriously affect the market for automotive chassis systems. Furthermore, chassis manufacturers may be impacted by changes in fuel prices, inflation, or unforeseen geopolitical events that compromise vehicle production and sales. Global crises can result in significant supply chain disruptions, labor shortages, and production delays, as the COVID-19 pandemic showed. Securing materials and components can be difficult for manufacturers who rely significantly on international supply chains, which could cause production delays and higher expenses.

Covid-19 Impact:

Due to the disruption of global supply chains and the suspension of production in the automotive industry, the COVID-19 pandemic had a major negative effect on the market for automotive chassis systems. Production of vehicles and chassis systems slowed as a result of the temporary closure of manufacturing facilities, especially in important areas like Europe, North America, and Asia. The pandemic also resulted in acute shortages of vital parts, such as semiconductors, which are necessary for contemporary automotive systems. This further delayed the production of chassis systems and vehicle assembly. Moreover, economic uncertainty and declining purchasing power also caused a steep drop in consumer demand, which in turn led to fewer vehicle sales and a subsequent decline in the need for chassis systems.

The Aluminum Alloy segment is expected to be the largest during the forecast period

The Aluminum Alloy segment is expected to account for the largest market share during the forecast period. The automotive industry favors aluminum alloys because of their exceptional strength-to-weight ratio, corrosion resistance, and lightweight nature, which makes them perfect for enhancing vehicle performance and fuel economy. Adoption of aluminum alloys in chassis systems has been greatly accelerated by the growing emphasis on reducing vehicle weight for improved fuel economy and lower emissions. Additionally, the market dominance of aluminum alloy is further reinforced by its versatility, recyclability, and the growing demand for electric vehicles (EVs), which depend on lightweight materials for maximum performance and range.

The Front Suspension segment is expected to have the highest CAGR during the forecast period

Over the forecast period, the Front Suspension segment is predicted to witness the highest growth rate because it absorbs shocks from the road, the front suspension system is essential to maintaining a vehicle's handling, comfort, and stability. The need for sophisticated front suspension systems is rising as automakers concentrate on improving safety features and driving dynamics. Furthermore, the rising popularity of electric vehicles (EVs) and autonomous vehicles, which demand suspension systems that are optimized for improved performance and comfort, as well as innovations like adaptive suspension systems that adapt to driving conditions in real time, are major factors propelling growth in this market.

Region with largest share:

During the forecast period, the Asia-Pacific region is expected to hold the largest market share due to the presence of some of the biggest automakers in the world, such as Toyota, Honda, and Hyundai, the region is seeing an increase in demand for chassis systems as they continue to innovate and produce a wide variety of vehicles. Moreover, the market expansion in this region is accelerated by the quick expansion of electric vehicle manufacturing as well as the growing consumer demand for lightweight, fuel-efficient vehicles. It is anticipated that the region will continue to lead the global automotive chassis systems market for some time to come due to its substantial automotive production capacity, growing middle-class consumer base, and government programs encouraging automotive innovation.

Region with highest CAGR:

Over the forecast period, the North America region is anticipated to exhibit the highest CAGR. The region’s rapid adoption of advanced automotive technologies, particularly electric and autonomous vehicles, is a significant driver of this growth. There is a growing need for innovative chassis systems, such as lightweight materials and sophisticated suspension systems, as North American automakers place a greater emphasis on enhancing vehicle performance, safety, and fuel efficiency. Additionally, manufacturers are being forced to create more reliable and efficient chassis systems due to tighter regulatory requirements meant to lower emissions and enhance safety.

Key players in the market

Some of the key players in Automotive Chassis Systems market include ZF Friedrichshafen AG, Continental AG, Magna International Inc., Aisin Seiki Co., Ltd., Robert Bosch GmbH, Hyundai Mobis Co., Ltd., Schaeffler AG, Benteler International AG, CIE Automotive S.A., American Axle & Manufacturing, Inc., Gestamp Automoción S.A., Thyssenkrupp AG, F-Tech Inc., Martinrea International Inc., KLT Automotive & Tubular Products Ltd. and ALF Engineering Pvt. Ltd.

Key Developments:

In October 2024, Hyundai Mobis Company signed a “Business Cooperation Agreement” with German optical electronic systems company Carl Zeiss AG, with the aim of launching mass production of next-generation holographic head-up displays (HUDs) in 2027.

In September 2024, Continental and Vitesco Technologies have reached an agreement based on their corporate separation agreement regarding the appropriate allocation of costs and liabilities from the investigations in connection with the supply of engine control units and engine control software.

In May 2024, ZF Friedrichshafen AG and Hon Hai Technology Group have completed the establishment of their joint venture in the field of passenger car chassis systems on April 30. The acquisition of a 50-percent stake in ZF Chassis Modules GmbH by Foxconn achieves a 50-50 partnership, which was agreed upon on July 24, 2023, and approved by regulators.

Components Covered:
• Control Arms
• Ball Joints
• Cross Members
• Knuckles and Hubs
• Subframes
• Other Components

Chassis Types Covered:
• Ladder Frame Chassis
• Backbone Chassis
• Monocoque Chassis
• Tubular chassis

Chassis Systems Covered:
• Rear Axle
• Front Axle
• Corner Modules
• Active Kinematics Control

Material Types Covered:
• Aluminum Alloy
• Carbon Fiber Composite
• High-Speed Steel (HSS)
• Mild Steel (MS)

Vehicle Types Covered:
• Passenger Cars
• Light Commercial Vehicles (LCVs)
• Heavy Commercial Vehicles (HCVs)

Sales Channels Covered:
• Original Equipment Manufacturers (OEMs)
• Aftermarket

Applications Covered:
• Front Suspension
• Rear Suspension
• Engine Mounting

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements