Press release
Car Body In White Global Market Report 2024 - By Size, Share, Growth, Analysis, Forecast To 2033
Car Body In White
The Business Research Company offers in-depth market insights through Car Body In White Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The car body-in-white market size has grown steadily in recent years. It will grow from $74.47 billion in 2023 to $77.42 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The growth in the historic period can be attributed to automotive industry growth, stringent safety and emission standards, lightweighting for fuel efficiency, consumer demand for advanced safety features, globalization of automotive manufacturing..
The car body-in-white market size is expected to see steady growth in the next few years. It will grow to $87.66 billion in 2028 at a compound annual growth rate (CAGR) of 3.2%. The growth in the forecast period can be attributed to electric vehicle (ev) revolution, autonomous vehicle development, sustainable manufacturing practices, global regulatory push for vehicle safety, customization and personalization trends.. Major trends in the forecast period include increased adoption of advanced high-strength materials, growing integration of mixed material solutions, focus on multi-material joining technologies, advancements in lightweighting strategies, integration of smart manufacturing technologies..
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Market Segmentation:
The car body-in-white market covered in this report is segmented -
1) By Category: Body Structure, Body Components, Chassis
2) By Car Type: Compact, Mid-size, Luxury, Sport Utility Vehicle (SUV)
3) By Construction: Monocoque, Frame Mounted Oil
4) By Material: Steel, Aluminum, Magnesium, Carbon-Fiber-Reinforced Polymers (CFRP)
Major Driver - Expanding Vehicle Production Fuels Growth In The Car Body-in-White Market
Increasing vehicle production is expected to propel the growth of the car body-in-white market going forward. A vehicle production is a mass-produced identical model offered for sale to the public and can be legally driven on public roads. The car body in white is a complex and essential part of vehicle production that plays a crucial role in ensuring the vehicle's safety, durability, and overall performance. For instance, in August 2023, according to the Board of Governors of the Federal Reserve System, a US-based government agency, total automotive production in the United States increased to 11.87 million units in July, up from 10.91 million units in June 2023. Furthermore, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based association, around 85.4 million motor vehicles were produced worldwide in 2022, an increase of 5.7% compared to 2021. Therefore, increasing vehicle production is driving the growth of the car body-in-white market.
Competitive Landscape:
Major companies operating in the car body-in-white market report are Volkswagen Group, Toyota Motor Corporation, Stellantis NV, Ford Motor Company, General Motors Company, Bayerische Motoren Werke (BMW) AG, Honda Motor Co. Ltd., Hyundai Motor Company, ArcelorMittal S.A, Nissan Motor Co. Ltd., Volvo Group, Thyssenkrupp AG, Magna International Inc., Aisin Seiki Co. Limited, Tata Steel Limited, ABB Corporation, Mahindra & Mahindra Limited, Henkel Adhesive Technologies, Sika Automotive AG, Gestamp Automocion SA, Benteler International AG, CIE Automotive, Martinrea International, Kirchhoff Automotive GmbH, Multimatic Inc., GEDIA Automotive Group, EDAG Engineering GmbH, Autokiniton Global Group LP, JBM Auto Limited, TECOSIM Group
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