Automotive Chassis Market to Exhibit a CAGR of 12.7% Between 2023-2030; Lightweight Carbon Fiber Chassis, Government Incentives, and Strategic Partnerships to Revolutionize the Automotive Industry

The global automotive chassis market size was valued at USD 136.65 billion in 2022. The market is projected to grow from USD 147.68 billion in 2023 to USD 330.02 billion by 2030, growing at a CAGR of 12.17% over the forecast period. Fortune Business Insights™ presents this information in its report titled “Automotive Chassis Market Size, Share & COVID-19 Impact Analysis, By Vehicle Type (Passenger Cars, Commercial Vehicles, and Electric Vehicles), By Chassis Type (Non-Conventional, Conventional, and Modular), and Regional Forecast, 2023–2030”

Automakers are compelled to comply with stringent vehicle emissions and safety regulations, necessitating the reduction of vehicle weight while ensuring structural integrity. As a result, manufacturers have transitioned from conventional heavy steel chassis designs to lightweight composite constructions. For instance, Lotus introduced its latest lightweight automotive chassis technology for upcoming electric vehicle models in September 2021.

Shutdown of Supermarkets Constrained Market Growth During Pandemic

The implementation of strict social distancing measures and global lockdowns led to the complete shutdown of several Original Equipment Manufacturer (OEM) manufacturing facilities, disrupting the supply chain and impacting numerous dependent workers and the industry as a whole. However, in the second half of 2021, OEMs across the globe gradually resumed manufacturing operations with 50% of their workforce, following appropriate social distancing guidelines to mitigate the risk of virus transmission.

Lamborghini Unveils Innovative Carbon Fiber Chassis for Next-Gen Aventador

Lamborghini introduced a carbon fiber chassis for its upcoming Aventador successor In March 2023, incorporating a higher proportion of composite materials than ever before. The innovative design focuses on seamless integration of components, eliminating the necessity for joints and welds. By utilizing forged composites, Lamborghini achieves a more efficient manufacturing process while minimizing energy consumption associated with cooling.

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Government Incentives Drive the Electric Vehicle Market Growth

Various nations have established targets to reduce vehicle emissions by 2050, prompting them to promote the development and adoption of Electric Vehicles (EVs) and associated charging infrastructure. To incentivize consumers to switch to EVs, governments have introduced measures such as purchase tax benefits. For instance, in the U.S., individuals purchasing new electric vehicles can avail incentives of up to USD 7,500. EV manufacturers are focusing on designing and producing chassis that offer advanced features and weight reduction, which will increase the automotive chassis market share.

However, volatility in the price of raw materials may impede the automotive chassis market growth.

Competitive Landscape

Magna Strengthens EV Market Position through REE Automotive Partnership

Automotive chassis leaders are adopting cost optimization approaches, pursuing acquisitions, and forging strategic alliances to improve their product portfolios. For example, in April 2021, Magna entered into a collaboration with REE Automotive, an Israeli startup, to manufacture an electric vehicle. This strategic move by Magna aims to reinforce its market position in the electric vehicle sector over the projected period. Through this partnership, Magna seeks to broaden its array of offerings and extend its market reach.

Notable Industry Development: 

• March 2022 – Japan's Suzuki announced to invest USD 1.4 billion for EVs at India factory. The investment will be made at Suzuki’s plant in Gujarat, which bagged benefits under the government’s production-linked incentive scheme, and it is expected to see batteries and vehicles being manufactured for Maruti Suzuki and Toyota, a Suzuki’s alliance partner in India.

List of Key Players Profiled in the Report:

• Schaeffler Technologies AG (Germany)


• Hyundai Motor Company (South Korea)


• Aisin Seiki (Japan)


• Magna International Inc. (Canada)


• Continental AG (Germany)


• ZF Friedrichshafen AG (Germany)


• Tower International (U.S.)


• Benteler International AG (Germany)


• CIE Automotive (Spain)


• REE Automotive, Ltd. (Israel)

Further Report Findings:

• The Asia Pacific market was valued at USD 57.78 billion in 2022. The rising demand for aluminum alloy chassis has driven the sales of luxury vehicles. Furthermore, the region is experiencing significant growth fueled by commercial and government investments, as well as foreign direct investments, which are expected to drive the Asia Pacific market forward over the forecast period.


• The North America market is driven by the adoption of alternative materials over conventional materials, aiming to enhance the joining process. This shift toward alternative materials is fueling the market growth in the region.

Table of Segmentation