The global Car Body-in-White market gathered revenue around USD 69.80 billion in 2021 and market is set to grow USD 107.25 billion by the end of 2030 and is estimated to expand at a modest CAGR of 3.94% during the prediction period 2022 to 2030.
Growth Factors:
Car body-in-white is the vehicle’s body structure before the engine, and other trim parts are mounted and paint job is done. It consists of a vehicle body structure, sheet metal components, and the chassis sub-assemblies welded together. The automotive body-in-white constitutes around the 27.2% of a vehicle’s curb weight and is primary load bearing structure in the automobile.
The ongoing rise in per capita income of worldwide populations has led to an increase in sale of passenger vehicles, which, in turn, is driving vehicle production. This expansion of the automotive sector, in terms of sales and production, is fueling the demand of body-in-white. Changing regulations regarding vehicle emissions, safety, and end-of-life disposal are having a transformative impact on the global car body-in-white market with growing popularity of lightweight, eco-friendly, and high strength materials.
Report Coverage
Drivers of Car Body-in-White Market
- Global population and their per capita income has been rising consistently for the last few years. Changing economic conditions, rise in employment, and increasing number of industries have propelled the automobile sector. Rising employment levels has fueled per capita income and the spending capacity of people, which has driven the sale of premium vehicles. These premium sedans and utility vehicles consists of more number of body-in-white components that are made from high quality materials. Thus, an increase in sale of premium vehicles amidst rising spending capacity of the population is propelling the global car body-in-white market. Sale of commercial vehicles is also rising. Growing trade agreements, industrialization, and expanding supply chains across the globe have boosted the logistics and transportation sector. American Trucking Association’s data states that in 2020, 72.3% of the domestic freight in the U.S. was transported by trucks. It also stated that the fleet of operational Class 8 trucks increased by 2.2% in 2020 and reached a total 3.99 million units. Thus, expansion of the automotive sector globally is driving the global car body-in-white market.
- Transportation is a leading cause for rise in levels of pollution worldwide. Moreover, vehicle accidents are rising at a significant rate. This rise in number of fatalities in vehicle accidents and growing degradation of the environment due to vehicle emissions have led to several regulatory transformations across the globe. Multiple countries have introduced new and modified existing laws related to vehicles and transportation. These new laws stress on higher vehicle occupant safety and fuel economy, which directly influences the design and material selection of automotive body in weight. For instance, in the U.S., automotive body-in-white has to comply with the Federal Motor Vehicle Safety Standard No. 208, which specifies the minimum and maximum limits of mechanical properties such as strength and stiffness for the parts and structures of body-in-white. On-going regulatory transformations are further driving the global car body-in-white market and has led to higher value creation in the market.
- Automotive body-in-white is expected to possess a number of significant properties such as high tensile strength, stiffness against bending, torsional, static, and dynamic forces. Consequently, high strength materials are utilized in the manufacturing of body-in-white. However, these materials have less formability, creating difficulties during manufacturing. Hence, numerous companies are turning toward multi-material approach combining ferrous and non-ferrous materials for manufacturing body-in-white. This emergence of novel material chemistries is anticipated to create significant opportunity for the global car body-in-white market during the forecast period.
Challenges for Car Body-in-White Market
- Supply chain of automotive companies is more complex as compared to other industries. Automakers have distributed their operations in various locations. This globalization trend adopted by automobile manufacturers adds various unique complexities to their supply chains. This creates variations in dimensions, standards, and other characteristics of the automotive components including body-in-white products. Therefore, body-in-white manufacturing and assembly engineers face multiple challenges in recognizing the errors and making corrective actions for distortions in assemblies. Thus, distributed supply chains of automotive companies hamper the global car body-in-white market.
- The COVID-19 outbreak has exposed several challenges for the automotive sector. The U.S., Italy, France, the U.K., Spain, and Germany, which are considered to be powerhouses in terms of automobile and related component production, import, and export, had been severely hit by the pandemic. However, as the COVID-19 pandemic is coming under control, business activities are being restored to normal, which is estimated to have a positive impact on the car body-in-white market in the next few years.
Car Body-in-White Market Segmentation
- The global car body-in-white market has been segmented based on car type, category, and region & country
- Based on car type, the compact segment dominated global car body-in-white market, in 2020. However, SUV and luxury segments are anticipated to expand at a high growth rate during the forecast period, as the popularity of these vehicles is increasing. This, in turn, has boosted the production of SUV and luxury vehicles, thereby fueling their share in the global car body-in-white market.
- Based on category, the body structure segment dominated global car body-in-white market in 2020. It is anticipated to maintain its dominance during the forecast period. This high share held by the body structure segment is attributable to the on-going trend of replacing multiple components by a single structure in order to reduce the complexity in design and assembly.
Regional & Country Analysis of Car Body-in-White Market
In terms of region & country, the global car body-in-white market has been segregated into North America, Europe, Asia Pacific, Central & South America, and Morocco. Asia Pacific held dominant share of the global car body-in-white market in 2020 due to the expansion of the automotive sector in major economies such as China, India, and Japan. China has been the world’s largest automotive market by both annual sales and manufacturing output. According to findings of nova one advisor, the total passenger vehicle production in China exceeded 16.2 million in 2020. Other countries such as India and Japan are also witnessing expansion of their automotive industry and rapid adoption of next-generation vehicles, which is estimated to drive the share held by Asia Pacific in the global car body-in-white market in the next few years.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Some of the prominent players in the Car Body-in-White Market include: KIRCHHOFF Automotive GmbH, Gestamp Automoción, S.A., ThyssenKrupp AG, Autokiniton Global Group, LP, Magna International Inc., Martinrea International Inc., JBM Group, Benteler International, CIE Automotive, Dura Automotive Systems, Shiloh Industries, H-one Co., Ltd., Toyoda Iron Works Co. Ltd., Unipres Corporation, Metalsa SA de CV, Multimatic Inc., Astea Co., Ltd., AK Automotive d.o.o., Futaba Industrial Co., Ltd., and Aisin Corporation.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
Global Car Body-in-White Market: Segmentation
- Car Body-in-White Market, by Category
- Body Structure
- Body Components
- Chassis
- Car Body-in-White Market, by Car Type
- Compact
- Mid-size
- Luxury
- SUV
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Car Body-in-White market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Car Body-in-White market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Car Body-in-White markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Industry participants involved in this research study include:
- CEOs, VPs, market intelligence managers
- Procuring and national sales managers technical personnel, distributors and resellers
- Research analysts and key opinion leaders from various domains
Key Points Covered in Car Body-in-White Market Study:
- Growth of Car Body-in-White in 2022
- Market Estimates and Forecasts (2017-2030)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Car Body-in-White and How to Navigate
- Key Product Innovations and Regulatory Climate
- Car Body-in-White Consumption Analysis
- Car Body-in-White Production Analysis
- Car Body-in-White and Management
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