Press release
Car Body-In-White Market Industry Size, Share, Growth, Trends And Forecast To 2033
Car Body-In-White Market
Car Body-In-White Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $87.66 billion In 2028 At A CAGR Of 3.2% :
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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Car Body-In-White Market Major Segments
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)
Key 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.
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Prominent Trend - Increasing Focus On Developing Innovative Safety Solutions To Gain A Competitive Edge
Major companies operating in the car body-in-white market are increasing their focus on introducing innovative solutions to gain a competitive edge in the market. Innovative body welding solution is an advanced approach to welding in the automotive industry that uses cutting-edge technologies and techniques to improve the efficiency, precision, and flexibility of the welding process. For instance, in April 2023, Comau, an Italy-based advanced industrial automation products and systems company, as granted flexibility to Hycan electric vehicles with its innovative Body Welding solution. This solution allows for the efficient and precise welding of the Body in White (BIW) of electric vehicles, which is the basic skeletal frame and body of an automobile, devoid of running gear and often painted white to inhibit rust. The BIW is the starting point for the assembly of a vehicle, and it is often used by car racers to build and customize vehicles for racing purposes. This solution is part of Comau's portfolio of advanced process solutions for battery cells, e-drives, and drivetrains.
Car Body-In-White Market Players
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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Largest And Fastest Growing Region In The Market
Europewas the largest region in the car body-in-white market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the car body-in-white market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Car Body-In-White Market Report Structure
3. Car Body-In-White Market Trends And Strategies
4. Car Body-In-White Market - Macro Economic Scenario
5. Car Body-In-White Market Size And Growth
…..
27. Car Body-In-White Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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