Automotive Body-in-White Market Size, Share, Growth & Statistics to 2025

Automotive Body-in-White Market to 2025 - Global Analysis and Forecast by Material Type (Aluminium, Steel, Magnesium and CFRP), Component Position (Structural, Inner and Exposed), Component Types (Fenders, Closures, Shock Towers, A-Post/ B-Post, and Others), and Body Structure (Frame Mounted Structure and Monocoque Structure)

Publication Month : Oct 2017

  • Report Code : TIPTE100000560
  • Category : Automotive and Transportation
  • Status : Published
  • No. of Pages : 156
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[Research Report] The Automotive Body-In-White Component market was valued at US$ 88.7 Bn in 2016 and is projected to reach US$ 125.6 Bn by 2025; it is expected to grow at a CAGR of 4.1% from 2017 to 2025.

The automotive BIW component market has experienced significant growth rate owing to increasing vehicle production in the region. 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. Only a handful of players dominate the global BIW component market owing to high investments, enhanced R&D capabilities, and strong supplier relationships among others. The automotive BIW component market is in line with production of automotive vehicle. Further, BIW component including chassis is estimated to register value of US$ 1,300 per vehicle globally. This number is further expected to increase in the future owing to adoption of high costs material and superior manufacturing techniques for vehicle production. Adoption of high cost material is primarily driven by stringent emission and fuel efficiency regulations globally.

Asia Pacific includes countries such as India, China, Japan, and South Korea. This region accounted for over 58% of the global automotive BIW component market owing to the presence of prominent vehicle manufacturing countries such as China, japan and South Korea. Production of passenger cars in China grew at around 15% over the previous year. Major global OEMs are in a bid to open manufacturing facilities in India and China owing to the availability of cheap labor, raw materials, and favorable government regulations. Price of raw material to produce different materials such as steel, aluminum, magnesium is much minor than other regions of the world. This has welcomed OEMs around the world to set up their manufacturing unit in the Asia Pacific region. Presence of global suppliers across these countries contributes only 1 – 15 % of the total supply with regional / specialized players sharing lion’s share. Moreover, these countries together contribute 53.1 % of the global passenger car production in 2016 and is expected to remain dominant over the forecast period. Low penetration of global suppliers in the countries combined with high vehicle production creates significant opportunity for international players to win larger pie of the market.,

Lucrative Regions for Automotive Body-In-White Component Market

Lucrative Regions for Automotive Body-In-White Component Market

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Market Insights

Robust growth in passenger car production globally is fueling the revenue growth

The global passenger car production has grown at a CAGR of 3.8% in the last five years to reach 72.1 Mn units in 2016 according to the International Organization of Motor Vehicle Manufacturers. Supported by the large, growing vehicle consumers, this growth rate is expected to be double by 2025. The BIW components account for 22-33% of the total vehicle mass and contributes to an estimated value of US$ 1,300 per vehicle. Taken together, the significant value contribution of BIW components per vehicle and robust growth in vehicle production will greatly drive the revenue growth in the global automotive BIW component market.

Material Type-Based Market Insights

The global automotive BIW component market by material type is broadly segmented into four categories steel, aluminum, magnesium and CFRP. Each of the material used in the manufacture of BIW component has its own set of advantages and disadvantages. While the steel is the favored material prevalent since quite few years, aluminum has taken up pace off late and is expected to outpace all other material because various benefits it offers over other material.

Component -Based Market Insights

The global automotive BIW market by component type is broadly segmented into three categories structural, inner, and exposed. Structural components generally form the main structure or chassis of the vehicle. These components must be rigid and strong to support the overall structure of the vehicle’s body. These components form an integral part of the chassis and generally includes crumple zones or force absorption zones for safety. It is expected that around 65% of the BIW structural components are outsourced in the Europe, North and South America region and around 25% are outsourced in the APAC and MEA region in the year 2016.

Body Structure – Based Market Insights

The global automotive BIW component market by body structure is broadly segmented into two categories monocoque and frame mounted. Monocoque body structure is likely hold the prime market share in 2016 and is expected to grow at a lightening CAGR over the forecast period as compared to frame mounted body structure. Owing to added safety and light-weightiness of monocoque structure over ladder frame structure is primarily pushing the vehicle manufacturers to adopt it over traditional ladder frame structure. Safety standards such as Euro NCAP ratings have made it mandatory to add crumple zones at the front and the back of vehicles has also encouraged OEMs to adhere the monocoque body structure.

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Automotive Body-in-White Market: Strategic Insights

automotive-body-in-white-components-market
Market Size Value inUS$ 88.7 Billion in 2016
Market Size Value byUS$ 125.6 Billion by 2025
Growth rateCAGR of 4.1% from 2017-2025
Forecast Period2017-2025
Base Year2017
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Product development is the commonly adopted strategy by companies to expand their product portfolio. Magna International, Gestamp Services, Benteler International AG, ThyssenKrupp Systems Engineering, Santec Group, Schuler Group, Orchid International, Hyundai Rotem, Aida Global, Texas Instruments Incorporated, among others are the key players implementing strategies to enlarge the customer base and gain significant share in the global Automotive Body-In-White Component market, which in turn permits them to maintain their brand name. A few of the recent key developments are:

  • In 2017, Gestamp recently opened its new R&D centre in Japan, which will be equipped with simulation resources, and advanced simulation of hot stamping process..
  • In 2017, Benteler inaugurated its new sales and service location in Coventry, England. This expansion is aimed to build strong presence in key markets and close collaboration on excellent products and services.

Automotive Body-In-White Component Market Segmentation:

By Material Type

  • Steel
    • MS
    • HSS
    • AHSS
    • UHSS
  • Aluminium
  • Magnesium
  • CFRP

By Components Position

  • Structural
  • Inner
  • Exposed

By Component Type

  • Fenders
  • Closures
  • Shock Towers
  • A-Post / B-Post
  • Others

Company Profiles

  • Magna International
  • Gestamp Services
  • Benteler International AG
  • ThyssenKrupp Systems Engineering
  • Santec Group
  • Schuler Group
  • Orchid International
  • Hyundai Rotem
  • Aida Global
  • Texas Instruments Incorporated
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Material Type , Component Position , Component Types , and Body Structure

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies

1. Gestamp Automicion SA
2. ThyssenKrupp Systems Engineering
3. Hyundai Rotem Company
4. AIDA Engineering Ltd.
5. BENTELER International AG
6. Eagle Press & Equipment Co.
7. Magna International Inc.
8. Martinrea International Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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