Automotive Subframe Market Size By Product (Steel Subframe, Aluminum Alloy Subframe), By Application (Front Subframe, Rear Subframe), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Automotive Subframe Market size was valued at USD 3.06 Billion in 2024 and is projected to reach USD 4.63 Billion by 2031, growing at a CAGR of 5.87% from 2024 to 2031.
The demand for high-performance and fuel-efficient vehicles, growing sales of light commercial vehicles and electric vehicles, Low weight chassis systems coupled with low emissions are some of the factors that will lead to the growth of the market during the forecasted period. The market forecast report provides a holistic evaluation of the market. The report offers a comprehensive analysis of the size of the market, key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
What is Automotive Subframe?
The subframe is a component in the vehicle’s chassis. This subframe component is a separate structure within a significantly larger monocoque or body-on-frame shell where the engine, drivetrain, suspension, and steering components are housed. A subframe has three basic forms, all of which have varying functions. These are mainly the simple axle type, the perimeter frame which supports the engine, and the perimeter frame which supports the engine, transmission, and full suspension.
An automotive subframe and cross member have similar functions, but they are not interchangeable. Structurally, a subframe can include a cross member. The automotive subframe is typically constructed from welded steel tubing or thick pressed steel panels. The attachment of the subframe depends on the vehicle type, but it is usually bolted or welded. A bolted subframe is fitted with springs or rubber bushings to dampen the vibrations produced while on the road. It can also be hydroformed.
Think of the subframe as a supporting hero for your car's chassis. It's basically there to hold important bits and pieces together. But it does more than that! One of its key jobs is to keep things smooth and quiet by isolating vibrations and road noise so they don't rattle your teeth. Plus, it helps spread out those heavy loads from the road across the car's body. And get this, the subframe actually takes some of the strain off the engine and transmission, too. It's super useful because it lets engineers build the whole engine, transmission, and steering system in one spot, then easily install it into the car later. You'll mostly find them in two flavorsfront and rear subframes.
Rear subframes serve the purpose of carrying the rear suspension and occasionally drivetrain components for rear-wheel or all-wheel drive vehicles. The separate rear and front subframes help to reduce their overall weight and subsequent cost. On the other side, when damaged, the subframe can result in unusual vibrations and harshness as we drive. If left unattended, these issues could result in long-term problems that could impair the car’s drivability.
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Global Automotive Subframe Market Overview
People are really wanting cars that are both powerful and easy on the gas tank. This means car companies are focusing on making vehicles lighter to boost performance. So, they're designing new cars and subframes, or chassis, that are both lightweight and fuel-efficient. Plus, everyone's worried about harmful emissions. To keep emissions in check, automakers are trying to build cars that pollute less, and that often means designing lighter chassis. With the demand for better performance and luxury cars on the rise, manufacturers are coming up with all sorts of innovative chassis systems. All the new tech and cool features are just making people want these advanced subframes even more! Take, for example, AUDI AG, who made the Audi A6 with a lightweight chassis and electric-assist steering. Features like these can really improve the driving experience, making fancy cars even more appealing.
Your car's subframe is a big deal – it's a key part that's really supposed to last as long as your vehicle does. But, things happen! Sometimes, subframes get damaged or rust so badly that they just can't do their job anymore. One thing that can hold back the automotive subframes market is the price tag – replacing a subframe can be seriously expensive. Suppliers making these parts are feeling the heat to keep costs down while still delivering top-notch materials that pass all those strict quality tests from the car manufacturers (OEMs) and their main suppliers (Tier-1s). On the bright side, more light commercial vehicles and electric vehicles are being sold, which means more subframes need to be made. Electric vehicles are becoming more popular in places like Europe because governments are cracking down on pollution and fuel prices are going up. For example, did you know that in the Netherlands, the number of electric cars jumped by around 60% from 2016 to 2017, reaching about 22,000 according to CBS?
Global Automotive Subframe Market Segmentation Analysis
The Global Automotive Subframe Market is segmented on the basis of Product, Application, and geography.
Automotive Subframe Market, By Product
Steel Subframe
Aluminum Alloy Subframe
Based on Product, the market is bifurcated into Steel Subframe, Aluminum Alloy Subframe. Steel Subframe accounted for the largest market share and is projected to grow at a CAGR of 4.46% during the forecast period. The automotive steel industry faces numerous challenges including carbon dioxide (CO2) emissions. Weight reduction in different vehicles can help to achieve improved fuel efficiency, creating less impact on the environment. Materials such as metal composites and hot forming steel have immense potential to cut the weights in vehicles.
Automotive Subframe Market, By Application
Front Subframe
Rear Subframe
So, when we look at how subframes are used, the Global Automotive Subframe Market is basically split into twoFront Subframe and Rear Subframe. It turns out that Front Subframes are the most popular right now, and they're expected to grow the fastest, with a CAGR of 5.78% over the next few years. A big reason for this is the push to make cars lighter, which is driving the use of aluminum in front subframes. For instance, BMW's double-joint spring-strut front axle is made of aluminum. This switch to aluminum cuts the weight by 30% compared to steel, reducing the unsprung mass. Ultimately, using aluminum makes the suspension and steering react a whole lot quicker.
Automotive Subframe Market, By Geography
North America
Europe
Asia Pacific
Rest of the world
Looking at the world, the Automotive Subframe Market breaks down into North America, Europe, Asia Pacific, and the Rest of the world. Asia Pacific really shines here, grabbing the biggest piece of the market and expected to keep growing at around 5.11% each year. Why? Well, more people means more need to get around, and Asia Pacific is stepping up to the plate. They're known for having some seriously impressive car companies. The whole automotive industry, from making cars to all the bits and pieces that go in them, is a huge money-maker for the region, thanks to all the cars they churn out, which means big opportunities for the automotive subframe market.
Key Players
The major key players in the Automotive Subframe Market are F-tech, Yorozu, Magna, Benteler Group, Toyoda Iron Works, Gestamp Automocion, Ryobi Limited, and Y-tec.
These Major Players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Key Developments
Partnership and Agreement
South Korea-based LG Electronics Inc and automotive supplier Magna International Inc are launching a joint venture that will make key components for electric cars
New Launches
Canadian auto parts company Magna International Inc. is planning to expand its global manufacturing capacity to North America as it focuses on electric vehicle production.
F-Tech Inc. has planned to increase business with GM and Toyota to deliver suspension parts.
F-Tech Inc. announced that it won a new order to deliver suspension parts to Toyota vehicles built in the USA, Japan, and Asia.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2021-2031
BASE YEAR
2024
FORECAST PERIOD
2024-2031
HISTORICAL PERIOD
2021-2023
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
F-tech, Yorozu, Magna, Benteler Group, Toyoda Iron Works, Gestamp Automocion, Ryobi Limited and Y-tec.
SEGMENTS COVERED
By Product
By Application
By Geography
CUSTOMIZATION SCOPE
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