Global Body in White Market

Global Body in White Market by Vehicle Type, Construction (Monocoque, Frame Mounted), Manufacturing Method (Cold Stamping, Hot Stamping, Roll Forming), Material (Steel, Aluminum, Magnesium, CFRP), and Region - Global Forecast to 2027

Report Code: AT 7313 Aug, 2019, by marketsandmarkets.com

[150 Pages Report] The global body in white market for automotive is projected to reach USD 90.5 billion by 2027 from an estimated value of USD 77.0 billion in 2019, growing at a CAGR of 2.0% during the forecast period. Increasing global vehicle production of passenger cars, electric vehicles, light commercial vehicles and medium & heavy commercial vehicles along with a reduction in the vehicle weight to meet the fuel economy and emission standards are expected to boost the market. However, the high cost of manufacturing methods is considered as a restraining factor for the growth in the market.

Global Body in White Market

Electric vehicles sales segment is estimated to witness the fastest growth during the forecast period

Increasing electric vehicle sales is another driver for the BIW revenue growth, as these vehicles require lightweight solutions in the form of material as well as manufacturing methods to achieve higher mileage by the battery. Majority of the BIW component manufacturers have introduced new lightweight solutions for their customers, which are in line with the electric vehicles manufacturing safety standards.

Asia Pacific is expected to be the largest market during the forecast period

The Asia Pacific region was the largest market for body in white in the world in 2018. This market has witnessed rapid year-on-year growth, even with a slowdown in the production of passenger cars; however, the other vehicle segments have been steadily growing, and there is no adverse impact on the market revenue with the increase in the adoption of lightweight solutions.

China has been the major contributor to the BIW market in the APAC region, with approximately 25 million cars produced every year. It is the largest revenue generator for the market. However, Japan is estimated to be the fastest-growing market with the adoption of strong emission regulations and purchase of electric vehicles with lightweight solutions, which makes the region the largest revenue market for BIW globally.

Global Body in White Market

Europe market is expected to register the fastest growth during the forecast period

Europe is estimated to be the fastest-growing market during the forecast period. Germany is expected to lead the market due to the presence of large automakers and focus on R&D on new technology. The massive sales of electric vehicles in the region coupled with the projected boost in sales due to the presence of supporting regulations towards the manufacture and use of these automobiles is expected to subsequently drive the growth of the market during the forecast period.

Key Market Players

The body in white market is led by globally and regionally established players such as Gestamp Automoción (Spain), Voestalpine Group (Austria), Magna (Canada), Benteler International (Austria), CIE Automotive (Spain), Tower International (US), Martinrea International (Canada), Aisin Seiki (Japan), KIRCHHOFF Automotive (Germany), Dura Automotive (US), Thyssenkrupp (Germany), and JBM Auto (India). These companies have strong distribution networks at a global and regional level. In addition, these companies offer an extensive product range in this market. These companies adopt strategies such as new product developments, collaborations, and contracts & agreements to sustain their market position.

Scope Of The Report

Report Metric

Details

Market size available for years

2017–2027

Base year considered

2018

Forecast period

2019–2027

Forecast units

Volume (Units)

Segments covered

Vehicle Type, Construction, Manufacturing Method, Material

Geographies covered

Asia Pacific, Europe, North America and RoW (Brazil South Africa, and others)

Companies Covered

Gestamp Automoción (Spain), Voestalpine Group (Austria), Magna (Canada), Benteler International (Austria), CIE Automotive (Spain), Tower International (US), Martinrea International (Canada), Aisin Seiki (Japan), KIRCHHOFF Automotive (Germany), Dura Automotive (US), Thyssenkrupp (Germany) and JBM Auto (India).
A total of 12 major players covered

This research report categorizes the given market based on vehicle type, construction, manufacturing method, material and region

Based on vehicle type, it has been segmented as follows:

  • Passenger Cars
  • Light Commercial Vehicles
  • Medium & Heavy Commercial Vehicles
  • Electric Vehicles (BEV passenger cars)

Based on Construction Type, the given market has been segmented as follows:

  • Monocoque
  • Frame Mounted

Based on Manufacturing Method, the market has been segmented as follows:

  • Cold Stamping
  • Hot Stamping
  • Roll Forming
  • Other Methods

Based on Material Type, the market has been segmented as follows:

  • Steel
  • Aluminum
  • Magnesium
  • CFRP

Based on the region, the market has been segmented as follows:

  • Asia Pacific
  • Europe
  • North America
  • RoW (South America, and the Middle East & Africa)

Recent Developments

  • In July 2019, Tower International Inc. was acquired by Autokiniton Global Group at a value of USD 900 million. Autokiniton agreed to buy all outstanding shares of Tower for USD 31 per share in cash.
  • In June 2019, Gestamp inaugurated a new plant specializing in aluminum in Nitra (Slovakia). The company invested nearly EUR 130 million for the new facility that intends to serve Jaguar Land Rover who recently commenced operations in Slovakia. The plant manufactures several skin panels and structural parts for the body made mainly using aluminum together with steel.
  • In June 2019, Benteler opened a new plant in Mos, Spain. The plant is part of the company’s Automotive Division and will produce rear-axle components for a new platform for its customer PSA, a global automotive manufacturer. Additionally, the production in Mos will focus on welding, painting, and laser cutting.
  • In June 2019, CIE Automotive acquired 100% of the share capital of the companies Maquinados de Precisión de México S. de R.L de C.V. and Cortes de Precisión de Mexico S. de R.L de C.V. The facilities are located in Celaya, in the Mexican state of Guanajuato - the largest automobile corridor in Mexico - and were key suppliers of machining components to Tier I automotive companies.
  • In May 2019, Voestalpine opened a new R&D facility in Donawitz, Austria. The facility will cater to the development of steel, which will serve as the base for new concepts in mobility, energy, and infrastructure.
  • In May 2019, KIRCHHOFF Automotive opened its second plant in Piteºti, Romania. KIRCHHOFF Automotive invested around USD 10 million in the plant. The automatic servo presses with pressing forces from 250 to 630 tons are state-of-the-art for cold forming. The plant in Piteºti supplies European KIRCHHOFF Automotive locations as well as customers in Eastern Europe with stamping parts.
  • In November 2018, Matinrea opened a new commercial and engineering office in Japan. The new office assists new launch programs with Toyota and Honda and continued nurturing its relationship with Nissan, which recently recognized Martinrea’s Springfield, Tennessee, and Silao, Mexico plants as significant suppliers.
  • In May 2018, Magna opened an aluminum casting facility in Telford, England, which will supply structural castings to Jaguar Land Rover, a leading vehicle manufacturer in the UK and Magna’s long-time customer. The new facility will use Magna’s patented vacuum die-casting process. The advanced lightweight aluminum castings help maximize strength and stiffness and minimize weight, which improves fuel economy, safety, and handling.

Critical Questions:

  • Many component manufacturers are expanding the market through expansions into other markets; how will this help the market grow?
  • How will developments in passenger cars, light commercial vehicles, medium & heavy commercial vehicles by leading manufacturers will change the dynamics of this market?
  • The industry is focusing on light-weighting in electric vehicles and ICE vehicles. Which are the leading companies who are working light-weighting for electric vehicles, and what organic and inorganic strategies have been adopted by them?
  • Analysis of your competition that includes major players in this market ecosystem. The major players are Gestamp Automoción, Voestalpine Group, Magna International, Benteler International, CIE Automotive, Tower International, Martinrea International, Aisin Seiki, KIRCHHOFF Automotive, Dura Automotive, Thyssenkrupp, and JBM Auto.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered in the Report
    1.4 Currency and Pricing
    1.5 Limitations
    1.6 Stakeholders
    1.7 Assumptions

2 Research Methodology
    2.1 Secondary Data
           2.1.1 Key Secondary Sources
           2.1.2 Key Data From Secondary Sources
    2.2 Primary Data
           2.2.1 Sampling Techniques & Data Collection Methods
           2.2.2 Primary Participants
    2.3 Factor Analysis
    2.4 Market Size Estimation
    2.5 Data Triangulation
    2.6 Assumptions

3 Executive Summary

4 Premium Insights

5 Market Overview
    5.1 Introduction
    5.2 Market Segmentation
    5.3 Regulations
    5.4 Market Dynamics
           5.4.1 Drivers
           5.4.2 Restraints
           5.4.3 Opportunities
           5.4.4 Challenges

6 Industry Trends
    6.1 Vehicle Emission Regulations and Safety Standards
    6.2 Manufacturing Processes and Materials Used for Biw
    6.3 Price Optimization and Standadization
    6.4 Porters Five Forces

7 Global Body in White Market, By Vehicle Type 
    7.1 Passenger Cars
    7.2 Light Commercial Vehicles
    7.3 Medium & Heavy Commercial Vehicles
    7.4 Electric Vehicle (Passenger Cars)

8 Global Body in White Market, By Construction
    8.1 Frame Mounted 
    8.2 Monocoque

9 Global Body in White Market, By Manufacturng Method
    9.1 Cold Stamping
    9.2 Hot Stamping
    9.3 Roll Forming
    9.4 Other Methods

10 Global Body in White Market, By Material
     10.1 Steel
     10.2 Aluminum
     10.3 Magnesium
     10.4 Cfrp

11 Global Body in White Market, By Region
     11.1 Asia 
     11.2 Europe 
     11.3 North America
     11.4 RoW

12 Competitive Landscape
     12.1 Overview
     12.2 Competitive Leadership Mapping (Overall Market)
             12.2.1 Visionary Leaders
             12.2.2 Innovators
             12.2.3 Dynamic Differentiators
             12.2.4 Emerging Companies
     12.3 Strength of Product Portfolio
     12.4 Business Strategy Excellence

13 Company Profiles 
(Business Overview, Products Offered, Recent Developments, Swot Analysis)  
     13.1 Gestamp Automoción
     13.2 Tower International
     13.3 Martinrea International
     13.4 Benteler International
     13.5 Voestalpine Group
     13.6 Cie Automotive 
     13.7 Magna International
     13.8 Aisin Seiki
     13.9 KIRCHHOFF Automotive 
     13.1 JBM Auto
     13.11 Thyssenkrupp Group
     13.12 Dura Automotive

14 Appendix
     14.1 Key Insights From Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Available Customizations
     14.5 Related Reports
     14.6 Author Details 

The study involved four major activities in estimating the current market size of the body in white market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The top-down approach was employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as company annual reports/presentations, press releases, industry association publications [for example, publications of Automotive Component Manufacturers Association of India (ACMA), European Automobile Manufacturers Association (ACEA), Japan Automobile Manufacturers Association, Inc. (JAMA), Automotive manufacturing solutions (AMS), The international council on clean transportation (ICCT), Asociacion Mexicana De La Industria Automotriz Amia (AMIA) – Mexican Association of the Automotive Industry, Precision Metal forming Association (PMA), Material recycling association of India (MRAI), Fabricators & Manufacturers Association Intl. (FMA), Other component manufacturer associations], magazine articles, directories, technical handbooks, World Economic Outlook, trade websites, and technical articles have been used to identify and collect information useful for an extensive commercial study of the global body in white market.

Primary Research

Extensive primary research has been conducted after acquiring and understanding of the metal forming market for automotive scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand- (Maruti Suzuki, NIO, Ford, Tata Motors and others) and supply-side (Benteler, EDAG, Magna and others) players across four major regions, namely, North America, Europe, Asia Pacific, and Rest of the World (Latin America, the Middle East, and Africa). Approximately 40% and 60% of primary interviews have been conducted from the demand and supply side, respectively. Primary data has been collected through questionnaires, e-mails, and telephonic interviews. In the canvassing of primaries, we have strived to cover various departments within organizations, such as sales, operations, R&D, and administration, to provide a holistic viewpoint in our report.

After interacting with industry experts, we conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report. Following is the breakdown of primary respondents.

Global Body in White Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The top-down approach has been used to estimate and validate the size of the Global Body in white market. In this approach, the vehicle production statistics for each vehicle type (passenger car, LCV, MHCV) at the country and regional levels, respectively, have been considered.

To determine the market size, in terms of volume, by vehicle type, the vehicle production numbers have been considered. The average BIW weight for each vehicle segment has been estimated for all regions by model mapping major vehicles in each country. The value obtained is multiplied with the total vehicle production to get the total BIW weight in tons for each region. To estimate the market value, the material composition of the vehicle in each segment (obtained from primary and secondary research) is multiplied with the BIW weight, and the cost of the materials. The components which are manufactured through a method of forming are identified, and the total share in percentage is considered. The summation of the country-level market gives the regional market and further summation of the regional market provides the global metal forming market for automotive.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides. All parameters that are said to affect the markets covered in this research study have been accounted for, viewed in extensive detail, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated, enhanced with detailed inputs and analysis from MarketsandMarkets, and presented in the report. The following figure is an illustrative representation of the overall market size estimation process employed for this study.

Report Objectives

  • To segment and forecast the body in white market size in terms of value (USD million) and volume (units)
  • To define, describe, and forecast the body in white market based on vehicle type, construction, manufacturing method, material and region
  • To segment and forecast the market size by vehicle type (passenger cars, light commercial vehicles, medium & heavy commercial vehicles and electric vehicles)
  • To segment and forecast the market by construction type (monocoque and frame-mounted)
  • To segment and forecast the market by manufacturing method (cold stamping, hot stamping, roll forming and other methods)
  • to segment and forecast the market by material type (steel, aluminum, magnesium, and CFRP)
  • To forecast the market size with respect to key regions, namely, Asia Pacific, Europe, North America, and Rest of the World.
  • To provide detailed information regarding the major factors influencing the market growth (drivers, challenges, restraints, and opportunities)
  • To strategically analyze markets with respect to individual growth trends, future prospects, and contribution to the total market

Available Customizations

With the given market data, MarketsandMarkets offers customizations in accordance to the company’s specific needs.

  • Hot Stamping for BIW, by Vehicle type
  • BIW for Electric Vehicle, by Vehicle segment
  • Steel for BIW, by Type of steels
  • BIW market, by Components
  • BIW Manufacturing process, by Advanced manufacturing methods

Company Information

  • Profiling of Additional Market Players (Up to 5)
    Report Code
    AT 7313
    Published ON
    Aug, 2019
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