Increasing adoption of high cost material combined with rise in overall consumption to drive the adoptions of BIW whose market is forecasted to grow at a CAGR of 4.1%Published Date: Oct 2017
According to a new market research study titled ‘Automotive BIW Component Market to 2025 – Global Analysis and Forecasts by material type, component position, component types, and body structure’, the global BIW market was valued at US$ 88.7 Bn in 2016 and is estimated to reach US$ 125.6 Bn by 2025. The report highlights the trends prevalent in the global BIW market and the factors driving the market along with those that act as deterrents to its growth.
The BIW components accounts for 20 – 33 % of curb weight of the vehicle and therefore represents high revenue potential for component suppliers across the automotive value chain. Despite disruptions in the automotive sector such as evolution of electric / hybrid vehicle, development of driverless and connected vehicles, BIW components is invariable segment of automotive sector and therefore associated as the major business segment in overall automotive industry. With wide variety of material availed for vehicle production, selection of material depends on economic effectiveness, lightweight, safety characteristics, volume production and life cycle considerations.
The global Automotive BIW market has been segmented on the basis of material type into Aluminum, Steel, Magnesium and CFRP. On the basis of component position, the BIW market is categorized into structural, inner and exposed. On the basis of component types, BIW has been segmented into fenders, closures, shock towers, A-post/ B-post, and others. Apart from these, BIW have been segmented on the basis of body structure into frame mounted structure and monocoque structure. Geographically, the global BIW market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
The automotive industry is expected to witness a rapid growth and drive the growth of BIW market. Players having a good hold over the BIW market can look to venture into providing materials for the vehicle manufacturing industry. The key players profiled in the report are Gestamp Automicion SA, ThyssenKrupp Systems Engineering, Hyundai Rotem Company, AIDA Engineering Ltd., BENTELER International AG, Eagle Press & Equipment Co., Magna International Inc., and Martinrea International Inc.
The report segments the global Automotive Body-in-White Component market as follows:
Global Automotive Body-in-White Component Market – By Material Type
Global Automotive Body-in-White Component Market – By Component Position
Global Automotive Body-in-White Component Market – Component Types
Global Automotive Body-in-White Component Market – Body Structure
Frame Mounted Structure
Global Automotive Body-in-White Component Market – By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
South America (SAM)