The report of global Body in White (BIW) market by Material Type (Steel Material, Aluminum Material, CFRP, and Others), By Manufacturing Process (Hot stamping, Cold stamping and Others), By Structure Type (Monocoque and Body-on-frame and Others), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ XX Mn. by 2027, at a CAGR of xx% during a forecast period. Body in white (BIW) is the stage in the automobile where body shell structure sheet metal components are welded together just before painting. In the early stages, car shell structures were kept in white color before assembling suspension, engine. It is kept white to give a color choice to the customer. The BIW design is driven by the factors such as by aesthetic, aerodynamic, and cost criteria. The BIW structure supports all interior parts like dashboard, trims, seats, etc. and all exterior components like the front bumper, rear bumper, fenders, mirrors, etc. mounted on the structure in means of mounting brackets and nuts on the BIW.
The steel materials segment is expected grow at a CAGR of xx% during the forecast period.
By material type, in 2019, the global steel material segment was xx% and it is estimated to reach xx% by 2027. The steel material segment is dominating as there is a drastic rise in oil & gas prices besides, fluctuation in gallons of petrol & diesel prices have put pressure on the automobile industries to find an alternative, reduce the consumption of fuel. Thus manufacturing is more focusing on materials that are cheap, safe, and lightweight. In 2020, steel holds the largest share of xx% in the global automotive body-in-white component market and it is expected to remain dominant over the forecast period. The market is driven by the factors such as its material strength and low cost.
Asia pacific is expected to grow at a CAGR of xx% during the forecast period and is expected to reach xx% market share by 2027
In the Asia Pacific, the growth of the market is driven by the growth in the automotive industry, in countries like India, China, Malaysia, and Vietnam the automobile industry is expected to grow at a CAGR of xx% during the forecast period. Increasing production of automobiles and FDI investment in the automobile industry has created a favorable business environment thus, the manufacturers are more focusing on these regions. In 2020, the market has witnessed a positive growth in the sales of the vehicles besides, the introduction of new hybrid and electric vehicles have fuelled the body-in-white market growth in these regions.
Key players operating in the Global Body in White (BIW) Market are Gestamp Automicion SA, ArcelorMittal, ThyssenKrupp Systems Engineering, Hyundai Rotem Company, AIDA Engineering Ltd., BENTELER International AG, Eagle Press & Equipment Co., Magna International Inc., Martinrea International Inc., Roland Berger, Gestamp, and Norsk Hydro ASA among others.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Body in White (BIW) Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Body in White (BIW) Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explains Global Body in White (BIW) Market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Body in White (BIW) Market.”
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