NEW YORK, June 4, 2024 /PRNewswire/ — The global automotive carbon monocoque chassis market size is estimated to grow by USD 215.4 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.55% during the forecast period.
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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Segment Covered |
Application (ICE vehicles and Electric vehicles), Type (OEM and Aftermarket), and Geography (North America, Europe, APAC, South America, and Middle East and Africa) |
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Region Covered |
North America, Europe, APAC, South America, and Middle East and Africa |
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Key companies profiled |
Bayerische Motoren Werke AG, Dallara Group Srl, Dr. Ing. h.c. F. Porsche AG, Ferrari NV, Horacio Pagani S p A, Koenigsegg Automotive AB, Magna International Inc., McLaren Group Ltd., Muhr und Bender KG, Multimatic Inc., Rimac Automobili, RUF Automobile GmbH, SGL Carbon SE, Toyota Motor Corp., and ZF Friedrichshafen AG |
Key Market Trends Fueling Growth
The automotive industry is witnessing a shift towards the production of electric supercars, with a focus on carbon fiber monocoque chassis. Williams Group’s engineering division is collaborating on the development of aerodynamics, powertrain, and battery management for these high-performance, zero-emission vehicles.
Strict regulations, such as WLTP testing, are driving this trend, making carbon monocoque chassis a significant growth area in the global automotive market during the forecast period.
The Automotive Carbon Monocoque Chassis market is currently experiencing significant growth. Chassis made of carbon fiber reinforced polymer (CFRP) are becoming increasingly popular due to their lightweight and high strength properties. These chassis are used in various types of vehicles, including cars, trucks, and buses. The use of these chassis helps reduce vehicle weight, leading to improved fuel efficiency and reduced emissions.
Composites like Heavy Carbon Fiber and Ultralight Carbon Fiber are commonly used in their production. Companies are investing in research and development to make these chassis more affordable and accessible to consumers. The market is expected to continue growing in the coming years as more automakers adopt this technology.
Market Challenges
- The automotive industry’s adoption of advanced materials like carbon fiber for systems and applications is hindered by high costs. Carbon fiber’s research, development, and manufacturing expenses are higher than conventional materials. To lower carbon fiber’s price to USD5/lb., significant cost reduction is necessary.
- Testing procedures for carbon fiber in sectors like aerospace and aviation are elaborate and costly. Raw material prices, particularly carbon fiber, have increased procurement costs. Vendors absorb a minor portion of these costs, leading to higher customer prices. Automated production processes for carbon fiber are limited, contributing to increased product costs and hindering large-scale adoption in the automotive carbon monocoque chassis market.
- The Automotive Carbon Monocoque Chassis market faces several challenges. The high cost of production is a significant barrier, as carbon fiber is more expensive than traditional materials. Another challenge is the complex manufacturing process, which requires specialized skills and equipment.
- Additionally, the lack of standardization in the industry makes it difficult for automakers to switch to carbon monocoque chassis easily. Furthermore, the environmental benefits of carbon monocoque chassis may not outweigh the increased vehicle cost for some consumers. Lastly, the safety concerns associated with carbon fiber materials need to be addressed to gain wider acceptance in the market.
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Segment Overview
- Application
- 1.1 ICE vehicles
- 1.2 Electric vehicles
- 2.1 OEM
- 2.2 Aftermarket
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and Africa
1.1 ICE vehicles- The carbon monocoque chassis market in ICE vehicles has seen growth due to the adoption of carbon fiber materials. McLaren Group, a leading manufacturer, uses these chassis and even produces them in-house.
The reduction in carbon fiber material costs, through use in hoods, tailgates, axles, and braking systems, has increased its usage. The focus on reducing vehicle weight while maintaining reliability and durability drives this trend. This is expected to continue, boosting the global automotive carbon monocoque chassis market during the forecast period.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report
Research Analysis
The Automotive Carbon Monocoque Chassis Market encompasses the production and application of monocoque chassis made from carbon fiber composite in passenger cars, light commercial vehicles, and heavy commercial vehicles. These chassis offer significant weight reduction, enhanced durability, and improved structural integrity compared to traditional materials like high strength steel, mild steel, and aluminum alloy.
The integration of monocoque chassis in automobiles results in better fuel efficiency, increased power-to-weight ratio, and improved safety features such as active safety systems and Level 2 automation. The market is driven by the increasing demand for lightweight and efficient vehicles, including luxury cars, passenger vehicles, and pick-up trucks.
Additionally, advancements in artificial intelligence, machine learning, and robotic efficiency are expected to boost the market growth. The market also includes the development and integration of battery electric vehicles (BEV) and hybrid electric vehicles (HEV) in monocoque chassis designs.
Market Research Overview
The Automotive Carbon Monocoque Chassis market refers to the production and supply of lightweight, high-strength chassis made primarily from carbon fiber reinforced polymers (CFRP) in the automotive industry. These chassis offer significant weight reduction, improved stiffness, and enhanced safety features compared to traditional steel or aluminum chassis. The market is driven by increasing demand for fuel-efficient and environmentally friendly vehicles, as well as advancements in CFRP technology and manufacturing processes.
The monocoque chassis design integrates the chassis and the body into a single structure, providing better structural efficiency and reducing vehicle weight. The market also benefits from the growing trend towards electric and hybrid vehicles, as carbon fiber chassis offer weight savings that can contribute to increased range and improved performance.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
- ICE Vehicles
- Electric Vehicles
- Type
- OEM
- Aftermarket
- Geography
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
