The global body in white market size was around USD 82.2 Billion in 2022 and is expected to reach USD 98.2 Billion by 2031, expanding at a CAGR of 2.2% during 2023–2031. The growth of the market is attributed to the rapid expansion of the automobile industry and the rising production of electric vehicles.
Rising demand for cars across the globe is propelling the body in white (BIW) market. In the automobile sector, the demand for lightweight and high mileage-offering vehicles is growing steadily, which is further anticipated to propel the demand for BIW components. This, in turn, boosts the manufacturing speed of the BIW parts, resulting in further expansion of the market.
In the automotive parts manufacturing process, BIW is a main structural part of the car and is important to prevent corrosion and ensure passenger safety. The increasing demand for high-quality car structures is boosting the market. This rigid and tough structure of BIW is the core of a car’s body, which is important for different vehicles such as passenger cars, sports cars, and commercial vehicles. This in turn propels the sales of such vehicles due to assured safety and suitability for traveling long distances. For instance,
- According to a report by MarkLines Co., Ltd. titled USA-Automotive Sales Volume,2023, the sales of passenger cars as of July 2023 surged to around 270,000, whereas in July 2022 it was nearly 240,000.
The report finds that the COVID-19 pandemic hampered the overall revenue of the global body in white market. Many industries had to shut down their manufacturing units, due to the preventive measures imposed by governments to curb the virus spread, which plummeted the overall demand for vehicles.
Sudden disruption in the supply chain, owing to the lack of timely supply of raw materials forced manufacturers to either delay their production or reschedule their existing projects. Studies suggest that the sales of the BIW market decreased in China by nearly 70%, around 46% in America, and about 80% in Europe, during the COVID-19 pandemic.
Artificial Intelligence Impact on the Body in White Market
Artificial Intelligence (AI) integration in the manufacturing process for BIW is anticipated to fuel market growth. AI-based technical set-up is integrated into BIW for predictive quality analysis and anomaly detection in the manufacturing of vehicle body structures. The algorithms are loaded with standard information related to safety factors such as effective welding in joints.
Integrating AI into the quality & inspection process includes ultrasonic inspection of weak weld spots. This process further provides pictorial representations in the form of images and helps in achieving a considerable reduction in manufacturing defects. This further drives the demand for AI in the body in white market.
Body in White Market Dynamics
Major Drivers
Increasing automobile industry at a rapid pace is a key factor driving the market growth during the projected period. Furthermore, developments in the manufacturing process accelerate the market. The production rate of vehicles has increased, due to the advancements made for energy-efficient products, to meet the environmental norms for vehicle emissions. The electric vehicle serves environmentally friendly and sustainable facilities in the automotive sector, which is projected to drive the body in white market.
Along with the trend of automotive lightweight cars, anti-corrosion functions in the vehicles are estimated to have a high demand in recent years, resulting in opening new opportunity areas for the body in white market. The body in white (BIW) components have been a significant part of the automobile sector due to their key use in automobiles.
Existing Restraints
High cost of advanced materials used for manufacturing BIW structures for lightweight vehicles is likely to restrain the market, as lightweight materials are priced high as compared to conventional materials. This in turn increases the purchasing price of the final product i.e., lightweight cars. These factors are likely to impede the sales of the market. Furthermore, the extensive time required for technical tests such as quality assurance, environmental safety standards, and efficient part assembling is expected to affect the growth of the market.
Emerging Opportunities
Advancement in manufacturing processes to reduce weight and increase the durability & strength of the product is anticipated to create lucrative opportunities in the market. Thus, the demand for reduced vehicle weight, less noise & vibration, trendy designs, and the aesthetic look of vehicles requires the application of BIW materials. These factors are anticipated to drive the market.
Manufacturers are focused on developing high-strength materials to reduce the weight of vehicles without compromising the quality of the product, due to the rising personalized preferences and customizations in the vehicles. Thus, for weight reduction purposes, materials such as lightweight steels, fiber-strength plastics, and aluminum & magnesium alloys are projected to be utilized in the body in white (BIW).
Scope of Body in White Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Body in White Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016 – 2021
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Forecast Period
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2023–2031
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Segmentation
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Vehicle Type (Passenger Cars, Electric Vehicles, Light Commercial Vehicles, Medium & Heavy Commercial Vehicles, and Others), Material Type (Aluminum, CFRP, Magnesium, Steel, Composites, and Others), Component (Inner, Exposed, and Structural), Structure (Monocoque and Frame Mounted), and Manufacturing Process (Hot Stamping, Cold Stamping, Roll Forming, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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ABB; Gestamp Automocion S.A; Martinrea International Inc.; Gestamp Automocion S.A; Norsk Hydro ASA; KIRCHHOFF Automotive GmbH; ArcelorMittal; Santec Exim Pvt Ltd.; DURA|SHILOH; and thyssenkrupp AG
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Body in White Market Segment Insights
Vehicle Type Segment Analysis
Based on vehicle type, the market is divided into passenger cars, electric vehicles, light commercial vehicles, medium & heavy commercial vehicles, and others. The electric vehicles segment is estimated to grow at a considerable CAGR during the forecast period, due to growing environmental concerns.
Electric vehicles exhibit significant features compared to conventional fuel-consuming vehicles, such as no pollution-causing emissions & noise, and no utilization of renewable resources. Rising awareness among the population regarding the drawbacks of fuel vehicles and the increasing government initiatives towards reducing pollution encouraged consumers to adopt electric vehicles, which boosted the market growth.
- As per a report by International Energy Agency (IEA) published in 2023, one in five cars sold in 2022, across the world, was electric. The report further states that the sales of EVs are expected to reach around 14 million by the end of 2023.
Material Type Segment Analysis
On the basis of material type, the body in white market is segmented into aluminum, CFRP, magnesium, steel, composites, and others. The steel segment is expected to hold a key market share in the coming years, owing to its high acceptance in the BIW product formation. This is due to its high strength and low-cost availability. Furthermore, the rising number of collaborations among automobile manufacturers and steel manufacturers is boosting the segment. For instance,
- In September 2021, Mercedes-Benz Group AG partnered with SSAB, a steel manufacturing company. SSAB’s hybrid unit aims to provide low-carbon steel to Mercedes. The partnership further promotes Mercedes’s aim to make the entire automobile industry carbon-free by 2039.
Component Segment Analysis
Based on component, the market is segregated into inner, exposed, and structural. The structural components segment is anticipated to expand at a significant pace during the projected period, as it forms the main framework of the vehicles. The vehicle’s body structure is supported by the rigidity and strength of the components. It includes force absorption and crumple zones to ensure safety. The components are estimated to be mainly outsourced from Europe, Asia Pacific, and North America.
Structure Segment Analysis
Based on structure, the market is bifurcated into monocoque and frame mounted. The monocoque segment is estimated to have a key market share in the coming years, due to the lightweight construction and additional safety factors. Thus, it is widely applied in passenger cars and utility vehicles. Growing requirement for passenger safety is likely to boost the segment growth.
Ratings from The European New Car Assessment Programme have made it compulsory to have additional crumple zones in the front and back of the vehicles. Original equipment manufacturers are advised to adhere to the monocoque body structure.
Manufacturing Process Segment Analysis
On the basis of the manufacturing process, the market is categorized into hot stamping, cold stamping, roll forming, and others. The hot stamping segment is projected to generate a major revenue share during the forecast period, owing to its correlating nature of hot forging and cold stamping technology.
In the hot stamping process, the steel is stamped under high pressure and temperature combined with quenching and forming processes. The segment growth is further attributed to the increasing demand for passenger and heavy commercial vehicles across the globe.
Regional Analysis
In terms of region, the global body in white market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to account for a key share of the market, due to the growing demand for passenger vehicles in developing countries including India, China, and Japan. The growing popularity and high adoption rate of passenger cars and lightweight vehicles in the region are expected to fuel the market growth.
- As per an article published by Autocar India, monthly sales of passenger cars soared to a new high in India in July 2023, reaching around 350,000 units. This growth is attributed to the increasing demand for multi-purpose vehicles (MPVs) and SUVs.
Segments
The body in white market has been segmented on the basis of
Vehicle Type
- Passenger Cars
- Electric Vehicles
- Light Commercial Vehicles
- Medium & Heavy Commercial Vehicles
- Others
Material Type
- Aluminum
- CFRP
- Magnesium
- Steel
- Composites
- Others
Component
Structure
Manufacturing Process
- Hot Stamping
- Cold Stamping
- Roll Forming
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- ABB
- Gestamp Automocion S.A
- Martinrea International Inc.
- Gestamp Automocion S.A
- Norsk Hydro ASA
- KIRCHHOFF Automotive GmbH
- ArcelorMittal
- Santec Exim Pvt Ltd.
- DURA|SHILOH
- thyssenkrupp AG
Competitive Landscape
Key players competing in the global body in white market are ABB; Gestamp Automocion S.A; Martinrea International Inc.; Gestamp Automocion S.A; Norsk Hydro ASA; KIRCHHOFF Automotive GmbH; ArcelorMittal; Santec Exim Pvt Ltd.; DURA|SHILOH; AKKA; and Magna International Inc.
These companies adopted development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to expand their consumer base worldwide. For instance,
- In March 2021, thyssenkrupp AG introduced an automotive body solutions business unit, which is specialized in body assembling solutions and producing lightweight body components for the automobile industry and its customers.
- In 2020, ABB received an order of around 800 industrial robots from Volkswagen AG to support the production of a new generation of commercial and electric vehicles at its plant in Hannover, Germany.
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