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The automotive carbon monocoque chassis market size is estimated to grow at a CAGR of 6.57% between 2022 and 2027. The market size is forecast to increase by USD 248 million. The growth of the market depends on several factors such as the advanced robotics manufacturing spurring mass production of monocoque chassis, the competitive sports cars market driving the demand for carbon fiber chassis, and the joint collaborations between various stakeholders.
This automotive carbon monocoque chassis market report extensively covers market segmentation by application (ICE vehicles and electric vehicles), type (OEM and aftermarket), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the automotive carbon monocoque chassis market growth is the joint collaborations between various stakeholders. There is significant growth in the global automotive industry especially across various areas including engine design, transmission configuration, suspension set-up, and chassis construction, among others. There is a huge market potential in the global automotive carbon monocoque chassis market fuelled by the increasing collaborations, strategic partnerships, and mergers and acquisitions (M&A) among the various stakeholders in the automotive industry in order to gain a competitive advantage.
Moreover, there is a significant rise in the R&D of advanced automotive chassis which is significantly contributing to the market growth. For instance, SGL Carbon SE is working in partnership with BMW AG on advanced automotive chassis technologies. Hence, factors such as the progressing developments including M&A, strategic partnerships, and collaborations in the field of advanced automotive chassis market are positively impacting the market. hence, such factors are expected to drive the market growth during the forecast period.
A key factor shaping the automotive carbon monocoque chassis market growth is the increasing penetration rate in automotive applications, chassis and body panels. There is an extensive use of carbon fiber and its composites across the modern sports cars as well as the motor racing industry. There is an increasing adoption of carbon fiber composites by designers, developers, and manufacturers of sports cars and other high-performance vehicles.
Moreover, there is a significant development of solutions by automobile manufacturers across the globe with the emergence of advanced automotive technologies and the availability of alternative sources of fuel in order to reduce the weight of automobiles and enhance their fuel efficiency. As a result, it fuels the manufacturing of lightweight automobiles which has resulted in the increased use of advanced materials, such as aluminum and carbon fiber, among others, in automobiles. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market growth during the forecast period.
Issues in scaling up production are one of the key challenges hindering the automotive carbon monocoque chassis market growth. Several complex manufacturing procedures are required for carbon fiber composites, despite their lightweight and high-strength qualities. the carbon monocoque chassis production process comprises hand-laying several layers of carbon fiber fabric, followed by laborious curing and quality control methods.
Moreover, this manufacturing process requires specialized labor forces and it also increases the manufacturing timeline when compared with typical materials such as steel or aluminum, which can be stamped or welded more quickly. Furthermore, adapting to these complex procedures for the mass manufacturing of cars is a significant challenge. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Automotive Carbon Monocoque Chassis Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Dallara Group Srl: The company offers automotive carbon monocoque chassis for sports cars using carbon composite materials.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The ICE vehicles segment is estimated to witness significant growth during the forecast period. There has been a significant use of the carbon monocoque chassis in ICE vehicles since 1981, especially in racing cars. However, the carbon fiber materials are expensive leading to low penetration in the automobile industry until early 2010. As a result, there is an increasing adoption of carbon fiber materials in hoods, tailgates, axles, and braking systems, among others, which has significantly reduced the cost of carbon fiber materials, fuelling its adoption in the monocoque chassis market.
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The ICE vehicles segment was the largest segment and was valued at USD 503.91 million in 2017. There is a growing adoption of carbon monocoque chassis for vehicles by several prominent companies such as Aston Martin Lagonda Ltd., BMW AG, Koenigsegg Automotive, Automobili Lamborghini Spa, and McLaren Group. Furthermore, there is an increasing focus by high-performance vehicle manufacturers on reducing weight due to factors such as the increasing necessity to reduce exhaust emissions and the increasing demand to improve the efficiency of the vehicle without compromising the reliability and durability of the vehicle. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main factors that is significantly contributing to the growth of the automotive carbon monocoque chassis market in North America is the high market sales of sports and super sports cars in the US. In addition, the US is the hub of the most prominent racing events in the world.
Factors such as the strong presence of motor racing events including the Indianapolis 500, NASCAR racing, Formula 1 races, numerous deserts, and street racing events are significantly contributing to the market growth in the region. Furthermore, some of the main countries in North America are leading in terms of volume sales of the sports and supercars. The strong presence of major motor car racing events fuelling the use of high-performance cars is considered to be the first adopters of carbon monocoque chassis for car construction. Hence, such factors are driving the market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global automotive carbon monocoque chassis market witnessed a significant slowdown due to restricted travel norms resulting in reduced sales of automobiles in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to an increase in demand for automobiles. Such factors are expected to drive the market during the forecast period.
The automotive carbon monocoque chassis market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Automotive Carbon Monocoque Chassis Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.57% |
Market growth 2023-2027 |
USD 248 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.01 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 42% |
Key countries |
US, Japan, China, Germany, and Italy |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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 |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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