According to the report, the global car body-in-white market is projected to cross US$ 106.35 Bn by 2031, expanding at a CAGR of 3.89% during the forecast period. Car body-in-white is the vehicle’s body structure before the engine, and other trim parts are mounted and paint job is done. It consists of a vehicle body structure, sheet metal components, and the chassis sub-assemblies welded together. The automotive body-in-white constitutes around the 27% of a vehicle’s curb weight and is primary load bearing structure in the automobile.

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The ongoing rise in per capita income of worldwide populations has led to an increase in sale of passenger vehicles, which, in turn, is driving vehicle production. This expansion of the automotive sector, in terms of sales and production, is fueling the demand of body-in-white. Changing regulations regarding vehicle emissions, safety, and end-of-life disposal are having a transformative impact on the global car body-in-white market with growing popularity of lightweight, eco-friendly, and high strength materials.

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Expansion of Global Car Body-in-White Market

Rise in disposable income of global populations has led to an increase in sale of vehicles, especially luxury vehicles. These vehicles are fitted with more number of body-in-white components and structures as compared to other type of vehicles. Financial institutions from multiple countries have slashed their interest rates on vehicle loans. For instance, in October 2021, Bank of India announced a decrease of 0.5% in the interest rates for cars and relaxation in processing fees. These benefits from banks and other financial institutions are further increasing the sales of cars, which in turn has boosted the production of vehicles. Thus, a rise in vehicle production and growing popularity of luxury vehicles is boosting the global car body-in-white market.

Automotive companies are rapidly adopting automation technologies in their production processes to increase their production, minimize the errors, and lower the costs related to labor wages. This adoption of automation has also influenced the body-in-white manufacturing. Multiple major automakers, such as Alfa Romeo and Maserati, have reported using robots at their body-in-white manufacturing lines. These automakers have reported an increase in efficiency of manufacturing body-in-white; as the processes, which were previously performed manually, such as welding and bonding, are currently being performed by robots. Consistent change in vehicle designs and government regulations, and flexibility and ease of manufacturing are vital and automation technologies provide this flexibility and also eliminate the time and money required for training of workers. Thus, a rise in adoption of automation and other advanced manufacturing technologies, such as additive manufacturing, are propelling the car body-in-white market across the globe.

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Based on the category, the body structure segment held a dominant share of the global car body-in-white market in 2020. Automakers are adopting the monocoque method for designing new cars in which the panels such as roof panels and floor panels for important load carrying elements are being manufactured from high strength novel materials. This propels the share held by the body structure segment in the global car body-in-white market.

Regional & Country Analysis of Car Body-in-White Market

In terms of region & country, the global car body-in-white market has been segregated into North America, Europe, Asia Pacific, Central & South America, and Morocco. Asia Pacific held dominant share of the global car body-in-white market in 2020 due to the expansion of the automotive sector in major economies such as China, India, and Japan. China has been the world’s largest automotive market by both annual sales and manufacturing output. According to findings of TMR, the total passenger vehicle production in China exceeded 16 million in 2020. Other countries such as India and Japan are also witnessing expansion of their automotive industry and rapid adoption of next-generation vehicles, which is estimated to drive the share held by Asia Pacific in the global car body-in-white market in the next few years.

Car Body-in-White Market Players

Prominent players operating in the global car body-in-white market include KIRCHHOFF Automotive GmbH, Gestamp Automoción, S.A., ThyssenKrupp AG, Autokiniton Global Group, LP, Magna International Inc., Martinrea International Inc., JBM Group, Benteler International, CIE Automotive, Dura Automotive Systems, Shiloh Industries, H-one Co., Ltd., Toyoda Iron Works Co. Ltd., Unipres Corporation, Metalsa SA de CV, Multimatic Inc., Astea Co., Ltd., AK Automotive d.o.o., Futaba Industrial Co., Ltd., and Aisin Corporation.