Connect with us

Research Reports

Body in White (BIW) Market Size is To Reach USD 88.9 Billion By 2026 Says Reports And Data

According to the current analysis of Reports and Data, The global body in white (BIW) market was valued at USD 74.5 billion in 2018 and is expected to reach USD 88.9 billion by year 2026, at a CAGR of 2.2% CAGR during the forecast period (from 2018 – 2026). The major drivers of the growths are – robust…

The post Body in White (BIW) Market Size is To Reach USD 88.9 Billion By 2026 Says Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

gbaf1news

According to the current analysis of Reports and Data, The global body in white (BIW) market was valued at USD 74.5 billion in 2018 and is expected to reach USD 88.9 billion by year 2026, at a CAGR of 2.2% CAGR during the forecast period (from 2018 – 2026). The major drivers of the growths are – robust growth in commercial car production globally, increasing usage of high cost material, reduction in the vehicle weight to reduce the fuel economy and meet the emission standards; however, the market is expected to face headwind due to the high cost of manufacturing methods is considered as a restraining factor for the growth in the market.

Body in white (BIW) refers to the stage in automotive manufacturing in which the body component of sheet metal of an vehicle have been welded/ joined together. In other words, body in white (BIW) is the frame structure of the vehicle before painting and assembly of chassis, engine, seat, glass, hood, doors, and other such sub-assemblies.

The conventional metallic materials of body in white (BIW) structural components are getting replaced by lightweight materials such as light weight steels, fiber reinforced plastics, and aluminium and magnesium alloys for all types of automobile vehicles, ranging from passenger cars to commercial trucks and from gasoline powered vehicles to electric vehicles. The primary driving force behind this improvement is the rising demand for fuel efficient vehicles along with the stringent emission and safety regulations.

In 2018, Asia Pacific region was the largest market share in the global body in white (BIW) market. This region has witnessed rapid year-on-year growth, even with a slowdown in the production of passenger cars. With ~25 million cars produced every year, China has been the major contributor to the body in white (BIW) market in the APAC region. It is the major revenue generator for the body in white (BIW) market. However, Japan is expected to be the fastest-growing market during the forecast period with the adoption of stringent emission regulations and adoption of light weight electric vehicles, which makes the region the largest revenue market for BIW globally.

Companies Considered and Profiled

  • Gestamp Automoción (Spain)
  • Voestalpine Group (Austria)
  • Magna (Canada)s
  • Benteler International (Austria)
  • CIE Automotive (Spain)s
  • Tower International (US)
  • Martinrea International (Canada)
  • Aisin Seiki (Japan)
  • KIRCHHOFF Automotive (Germany)
  • Dura Automotive (US)
  • Thyssenkrupp (Germany)
  • and JBM Auto (India) and others.

Request for sample [email protected] https://www.reportsanddata.com/sample-enquiry-form/2334

Further key findings from the report suggest-

  • Automobile manufacturers are more focusing on upgrading their services to accommodate advanced materials which are high in cost and require diverse manufacturing process and production techniques like roll forming, hot stamping, and other methods
  • The commonly used metallic materials of body in white (BIW) structural components are getting replaced by lightweight materials such as light weight steel, fiber reinforced plastics, and alloys of aluminium and magnesium for all types of vehicles, ranging from commercial trucks to passenger vehicles
    • The main driving force behind this advancement is the increasing demand for fuel economy along with meeting the stringent emission regulations, safety and crashworthiness legislations.
  • Steel is majorly used material for body in white (BIW) component production and it held for the largest share in the global body-in-white component market in 2018.
  • By material type, Aluminium sub-segment of automotive body-in-white component market is expected to gain dominant during the forecast period due to its low cost and higher strength of the material. However, steel may not be used in its conventional form but is widely used under several grades categorised based on the strength of the material.
  • Improving sales of electric vehicle is another major driver for the body in white (BIW) revenue growth, as electric vehicles require lightweight solutions in the form of material as well as manufacturing methods to achieve higher battery efficeincy.
    • Majority of the body in white (BIW) component manufacturers have proposed new lightweight solutions for their customers, which are in line with the safety standard of the electric vehicles manufacturers
  • Growing demand for light weight vehicles to improve the overall vehicle mileage is expected to fuel the body in white (BIW) market. Further, considering the historical trends and anti-corrosion and light weight functionalities, it is expected that aluminum cast metal will be the major revenue generator in the body in white (BIW) market in the near future.

Request for Custom Research @ https://www.reportsanddata.com/request-customization-form/2334

For the purpose of this study, Reports and Data have segmented the industry by Material, by Manufacturing process, by structure, by Propulsion type, by Vehicle type and by Region:

Body in White by Material (Revenue, USD Million; 2016–2026)

  • Aluminium
  • Steel
    • Advanced high strength steel
    • Ultra high strength steel
    • Others
  • Composites
  • CFRP (Carbon fiber reinforced polymer)
  • Magnesium
  • Other

Body in White by Manufacturing Process (Revenue, USD Million; 2016–2026)

  • Hot Stamping
  • Cold Stamping
  • Hydroforming
  • Roll Forming
  • Others

Body in White by Structure (Revenue, USD Million; 2016–2026)

  • Monocoque
  • Frame Mounted

Body in White by Propulsion Type (Revenue, USD Million; 2016–2026)

  • Gasoline Powered
  • Electric Vehicle

Body in White by Vehicle Type (Revenue, USD Million; 2016–2026)

  • Passenger vehicles
    • Luxury Cars
    • Non-Luxury Cars
  • Commercial vehicles
    • LCV
    • M&HCV

Body in White by Region (Revenue, USD Million; 2016–2026)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Spain
    • Italy
    • Benelux
    • Rest of the Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Singapore
    • Rest of Asia-Pacific
  • Middle East and Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

Buy now your Exclusive copy of Report @ https://www.reportsanddata.com/checkout-form/2334

Explore Reports and Data’s Prime Analysis of the global Materials and Chemicals Industry:

Drug Blister Packaging Market Size, Share & Analysis, By Product Type (Clamshell, Carded), By Material (Plastic, Aluminum, Paper & Paperboard), By Technology (Cold Forming, Thermoforming), By Application (Tablets, Capsules, Others), And By Region, Forecast To 2027

Honeycomb Activated Carbon Market Size, Share & Analysis, By Type (Water-Resistant, Ordinary, Other), By Application (Indoor Air Purification, Catering Fume Exhaust Gas Treatment, Factory Organic Waste Gas Treatment, Organic Solvent Adsorption And Recovery Catalyst Carrier, Others) and Regional Forecast over 2017-2027

Fumed Silica Market Size, Share & Analysis, By Type (BET 100–160, BET 160–210, BET 210–300, Others), By Application (Silicone Rubber, Adhesives & Sealants, Polyester, Paints, Inks, Others), And By Region, Forecast To 2027

Tetramethylammonium Hydroxide (TMAH) Market By Type (Industrial Grade, Electrical Grade, Solar Grade), By Application Type (Semiconductor, Zeolites, Polymers, Energy), Region-Global Forecast To 2027

Vinyl Ester Resins Market Size, Share & Analysis, By Product Type (Bisphenol A, Novolac, Flame Retardant Epoxy, Phenolic Epoxy, High Crosslinking Density Epoxy, Flexible Epoxy, Others), By Application (Pipes & Tanks, Binders, FRP Products, Anti-corrosion Coatings, Marine, Buildings & Construction, Automotive, Wind Energy, Others), By Region, Forecast To 2027

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Contact Us:

John W

Head of Business Development

Reports and Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: [email protected]

Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs

Read Full Press Releasehttps://www.reportsanddata.com/press-release/global-body-in-white-biw-market

The post Body in White (BIW) Market Size is To Reach USD 88.9 Billion By 2026 Says Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

Editorial & Advertiser disclosure
Our website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Recommended

Newsletters with Secrets & Analysis. Subscribe Now