Automotive Body in White Market

2021 Analysis and Review: Automotive Body in White Market by Product Type – Body Structure, Body Component, and Chassis for 2021 – 2031

Market Snapshot

As per a Future Market Insight (FMI) analysis, the automotive body in white demand is expected to rise at a year-on-year (YoY) growth of 3.1%, reaching US$ 59.7 billion in 2021. The increasing demand for passenger vehicles will drive the automotive body in white sales at 3.4% CAGR over the forecast period from 2021 to 2031.

Gestamp Automoción, Magna International Inc., Benteler International, ThyssenKrupp AG, and Voestalpine Group are identified as leading players in. They will collectively account for nearly 18% of global market share in 2021.

Noteworthy Points Covered

  • Market estimates and forecast 2016-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Automotive Body in White Market and How to Navigate
  • Recommendation on Key Winning Strategies

How Does 2016-2020 Automotive Body in White Sales Compare with 2021-2031 Demand Outlook

The automotive body in white market is projected to grow at 3.4% CAGR between 2021 and 2031. Body in white components are integral to automotive sector and are therefore associated with major business segments within the industry.

Despite the current slowdown in the production of passenger vehicles; demand will continue increasing amid steady surge in production in the other vehicle segments. However, with the implementation of BS-VI norms and increasing need for private means of transport post pandemic, the demand for passenger vehicles is anticipated to grow throughout the forecast period.

Another aspect contributing to the growth of the market is the incorporation of cutting edge technology and improvements in the manufacturing process. The need for environmentally sustainable technologies and products is on the rise. The automotive industry is concentrating its efforts on developing new technologies to produce vehicles that cause lesser emissions.

The introduction of lightweight and advanced components will not only reduce the overall weight of a vehicle but boost its efficiency and fuel-performance. Vehicles made from sustainable and light weight body components/structures are predicted to be more performance oriented and also provide a better fuel efficiency. This is predicted to boost the demand of the product in the global market.

What is the Impact of COVID-19 on Automotive Body in White?

Production facilities and supply chain activities slowed in 2020 as a result caused loss in the automotive sector induced by COVID-19. The industry is however predicted to rebound in terms of profitability in the coming years, as several countries have already begun to execute relaxations in production activities.

According to the research, with easing norms of lockdown, transport and travelling habits of people are expected to change. People want modes of transport that promote social distancing thus increasing opportunity for use of automotive body in white.

Country-wise Insights

Why is China Considered as a Prominent Region for Automotive Body in White?

China is predicted to remain one of the most lucrative markets during the forecast period, according to Future Market Insights. The country is expected to be the biggest manufacturer of automotive body in white in East Asia.

According to the assessment, China is anticipated to create an absolute $ opportunity of US$ 7.4 Bn from 2021 to 2031.

The availability of low cost raw materials and the increasing investment in the upgradation of manufacturing plants and facilities have increased the sales of automobiles. This factor is projected to provide ample opportunities for the automotive body in white industry to prosper in China throughout the forecast period.

What is the demand outlook of Automotive Body in White in Germany?

Europe is expected to be the one of the fastest-growing markets. Germany is predicted to lead the sales of automotive body in white in the region due to the existence of significant automakers and an emphasis on research and development activities on new technology.

High sales of passenger vehicles combined with supporting rules for the production and usage of these vehicles, is expected to propel the market forward throughout the forecast period.

Germany is projected to account for the highest sales of automotive body in white in Europe in 2021. Germany is estimated to generate sales worth of US$ 2.8 Bn in 2021.

What is driving the Market for Automotive Body in White in the U.S.?

The automotive body in white market in U.S. is anticipated to expand at a significant rate. The market is projected to grow steadily in 2021, and with key players adopting additional initiatives, the market is predicted to rise throughout the forecasted period.

Majority of the revenue is generated from passenger vehicles and light commercial vehicles sales in the country and this trend is expected to continue over the projected timeframe. The market in US is projected to register an impressive absolute $ opportunity worth US$ 4,439 Mn from 2021 to 2031.

What is Driving Sales of Automotive Body in White in India?

The India market is expected to grow at a CAGR of 3.9% from 2021 through 2031. The rise in disposable income is anticipated to create healthy conditions for the growth of the automotive body in white industry in India. The rising population and increasing urbanization in India are anticipated to fuel the demand.

Due to the availability of inexpensive labor, raw materials, and favorable government regulations, many worldwide OEMs are attempting to establish manufacturing operations in India. The cost of raw materials such as steel, aluminum, and magnesium is substantially lower than in other parts of the world. This has attracted OEMs from all around the world to establish manufacturing facilities in the South Asia & Pacific region.

What’s the outlook of Japan Automotive Body in White Market?

Although China accounts for majority of the market share in East Asia, Japan is among the leading markets for automotive body in white globally.

With the implementation of stringent emission control rules and the increasing purchase of passenger vehicles, Japan is expected to be exhibit healthy growth throughout the forecast period.

Japan also hosts large number of automotive car manufacturers, some of which are considered among the global market leaders. The market for automotive body in white in Japan is predicted to grow at a CAGR of 3.7% from 2021 through 2031.

Category-wise Insights

Which Vehicle Type Drives most Demand for Automotive Body in White?

Passenger vehicles are anticipated to hold close to 74.3% of the global market share in 2021. Passenger vehicles have gained significance especially in the developing regions such as India, Brazil, Mexico and ASEAN countries. Passenger vehicles, especially small and mid-sized cars are compact, cost-efficient and provide a good fuel mileage owing to which its demand is expected to rise significantly in the coming years.

The rising disposable income in developing regions and the availability of lucrative offers provided by car retailers and manufacturers is further expected to spur the sales of passenger vehicles worldwide, which in turn is projected to bolster the growth of the automotive body in white in the global market.

Which Product Type is Anticipated to Remain the Top-choice?

A chassis forms an integral part of an automobile. It is the main supporting framework of a vehicle to which all other components are attached. The chassis segment is anticipated to hold a major chunk of the global market share comprising nearly 53% of the total market share.

The chassis provides the rigidity and stiffness required to sustain the various vehicle components as well as the payload. The various research and development activities aimed at improving the quality and reducing the weight of the chassis to provide optimum performance has led to introduction of advanced chassis made from sustainable material.

Competitive Landscape

Companies operating in automotive body in white market are aiming at technological innovations and improving the manufacturing procedures in order to deliver light weight and performance oriented body structures and components.  Many manufacturers are also entering into strategic partnership with leading automotive OEMs and tier 1 suppliers to expand their reach and global presence.

Some of the major companies operating in the market are:  Kirchhoff Automotive GmbH, Benteler International, ThyssenKrupp AG, Voestalpine AG, Martinrea International Inc., Gestamp Automocion, Magna International Inc., CIE Automotive, Autokiniton Global Group, H-One Co., Ltd, JBM Auto, Dura Automotive Systems, Futaba Industrial Co., Ltd., Shiloh Industries and Multimatic Inc.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa

Key Countries Covered

US, Canada, Mexico, Brazil, Germany, U.K., France, Italy, Spain, Russia, Poland, China, Japan, South Korea, India, ASEAN, Turkey and South Africa

Key Segments Covered

Product Type, Vehicle Type and Region

Key Companies Profiled

  • Kirchhoff Automotive GmbH
  • Voestalpine AG
  • Benteler International
  • CIE Automotive
  • JBM Auto
  • ThyssenKrupp AG
  • Gestamp Automocion
  • Magna International Inc.
  • Dura Automotive Systems
  • Martinrea International Inc.
  • Autokiniton Global Group Multimatic Inc.
  • Futaba Industrial Co., Ltd.
  • H-One Co., Ltd
  • Shiloh Industries

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Questions Answered in Automotive Body in White Market Study

  • What is the automotive body in while market valuation?

    FMI has forecast the overall valuation of the automotive body in white market to surpass US$ 59.7 Bn by 2021.

  • What is the demand outlook for automotive body in white market?

    The demand for automotive body in white is expected to increase at a CAGR of 3.4% between 2021 and 2031. The market is expected to reach a valuation of US$ 83.6 Bn by 2031

  • What are the key trends shaping the automotive body in white market?

    The automotive body in white sales will grow as leading manufacturers focus on using cost-effective and lightweight materials. This trend is expected to continue through the course of the report’s assessment period.

  • What is the North America automotive body in white market outlook?

    The demand for automotive body in white will increase at 3.3% CAGR in North America between 2021 and 2031.

  • What is the Europe automotive body in white market outlook?

    The demand for automotive body in white will increase at a steady pace in Europe. FMI has forecast Germany to emerge as a strong market, exhibiting a CAGR of 3.6% through the assessment period.

  • Which are the top five countries driving the automotive body in white demand?

    The demand for automotive body in white is considerably high in China, US, India, Japan, Germany.

  • What are the key factors fuelling the demand for automotive body in white?

    Infrastructure development and adoption of advanced manufacturing procedure, besides the increasing automotive production and sales will fuel the demand in the market.

  • Who are the leading players and what is their cumulative share in the automotive body in white market?

    Gestamp Automoción, Magna International Inc., Benteler International, ThyssenKrupp AG, and Voestalpine Group are the leading players and they account for a share of nearly 18% in the automotive body in white market.

  • How will the automotive body in white market perform in Japan and South Korea?

    Japan and South Korea are expected to exhibit high demand for automotive body in white. Both nations together will account for 9.1% of the global market share in 2021.  

Automotive Body in White Market by Category

By Product Type:

  • Body Structure
    • Bumper Beam
    • Crossmember
    • Roof Frame
    • Cross Car Beam
    • Others
  • Body Component
    • Quarter Panel
    • Floor Panel
    • Rocker Panel
  • Chassis

By Vehicle Type:

  • Passenger Vehicles
  • Light Commercial Vehicles (LCVs)
  • Heavy Commercial Vehicles (HCVs)

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

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