Automotive Chassis Market Size & Share, by Product Type (Frame Chassis, Backbone Chassis, Monocoque Chassis, Subframes); Material (Steel, Aluminum Alloy, Carbon Fiber Composite); Vehicle Type (Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Buses) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

Automotive Chassis Market size is projected to cross USD 110 billion by the end of 2033, growing at a CAGR of 6% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of automotive chassis was over USD 64 billion. The growth of the market can primarily be attributed to the growing development of automotive chassis along with rising production of vehicles worldwide. It was found that, globally, nearly 80 million motor vehicles were produced in 2021.

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. For instance, by the end of the first quarter of 2022, there were more than 1.4 billion cars on the world's roads.