Car Body-in-White Market to Exceed US$ 106.35 Bn by 2031; Surge in Sales of Premium Vehicles to Boost Product Demand, Notes TMR Study

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Transparency Market Research

07 Dec, 2021, 11:30 GMT

- Major automakers are collaborating with researchers in order to create 3D CAD data in an effort to decrease the development cost of vehicles

- Improving spending power of populace and increasing rate of employment are playing a prominent role in the expansion of the global car body-in-white market

ALBANY, N.Y., Dec. 7, 2021 /PRNewswire/ --

Car Body-in-white Market: Overview

Government bodies of many countries have imposed stringent vehicle regulations. Furthermore, considering the growing customer needs and New Car Assessment Program (NCAP) ratings, several automakers across the globe are focused on minimizing the development cost and time of vehicles. Thus, players operating in the car body-in-white market are investing in R&D projects for different custom services that are related to passenger car body-in-white (BiW). These researches are particularly focused on the development of lightweight designs of car BiW.

Several market players are taking help of engineers and researchers to produce 3-dimensional Computer Aided Design (3D CAD) data for a BiW using automotive 3D scanning and reverse engineering, which assist in crash worthiness assessment of car BiW.

A study by Transparency Market Research (TMR) states that the global car body-in-white market is expected to expand at a CAGR of 3.89% during the forecast period of 2021 to 2031.

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Car Body-in-white Market: Key Findings

  • Digital Factories Help Players Offer Superlative and Timely Services

Companies in the car body-in-white market are improving their overall services and incorporating technologically advanced tools. In order to achieve this goal, they are focused on giving quick response to demands of clients, customers, and partners. A case in point here is the Automotive Technology by thyssenkrupp. The firm is being publicized for its digital factory that provides top-shelf software solutions for a wide range of activities, including designing complete systems and digital process planning. Moreover, several enterprises are offering multi-flexible lines and single-model solutions for a wide range of vehicle models.

  • Car BiW Enterprises Incorporating Ready-to-build Aluminum Solutions

Aluminum is gaining impetus as an ideal solution for car BiW, as it offers tensile strength, excellent energy absorption, and is lightweight. The integration of aluminum parts can help in reducing the weight and assembly cost of car BiW. With the growing knowledge on these advantages of aluminum, several companies such as Norsk Hydro ASA are providing topnotch aluminum solutions for players operating in the global car body-in-white market.

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Car Body-in-white Market: Growth Boosters

  • Improving economic conditions, growing number of industries, and surging employment opportunities across the globe are resulting in the expansion of the automobile sector, which, in turn, is accelerating the demand prospects in the car body-in-white market
  • Many countries have implemented new regulations or made amendments in the existing transportation and vehicles laws pertaining to fuel economy and occupant safety. This factor is fueling market expansion.

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Car Body-in-white Market: Key Developments

Companies are focused on offering several features such as high tensile strength, stiffness against bending, static, torsional, and dynamic forces in their products. Owing to these features, there is a noteworthy growth in the use of high strength materials in the manufacturing process of BiW. However, their less formability is resulting into problems in the manufacturing procedures. Thus, several players are adopting the multi-material approach in order to combine non-ferrous and ferrous materials in cars.

Car Body-in-White Market: Key Players

Some of the key players in the market include:

  • Gestamp Automoción, S.A
  • KIRCHHOFF Automotive GmbH
  • Autokiniton Global Group, LP
  • ThyssenKrupp AG
  • Martinrea International Inc.
  • Magna International Inc.
  • Benteler International
  • JBM Group
  • Dura Automotive Systems
  • CIE Automotive
  • H-one Co., Ltd.
  • Shiloh Industries
  • Unipres Corporation
  • Toyoda Iron Works Co. Ltd.
  • Multimatic Inc.
  • Metalsa SA de CV
  • AK Automotive d.o.o.
  • Astea Co., Ltd.
  • Aisin Corporation
  • Futaba Industrial Co., Ltd.

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Car Body-in-White Market Segmentation

Category     

  • Body Structure
  • Body Components
  • Chassis

Car Type      

  • Compact
  • Mid-size
  • Luxury
  • SUV

Region & Country

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Morocco

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