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 forecast 2026

NEW YORK, NY, UNITED STATE, October 11, 2021 /EINPresswire.com/ -- 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.

Get Free sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/2334

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.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/body-in-white-biw-market

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 a customization of the report @ 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
US
Canada
Mexico
Europe
Germany
France
UK
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

Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/2334

About us:

Reports and Data is a 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 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. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Contact us:

+1-212-710-1370

Reports and data

sales@reportsanddata.com

Read More:

Automotive Engineering Services https://www.reportsanddata.com/report-detail/automotive-engineering-services-market

Automotive AR & VR https://www.reportsanddata.com/report-detail/automotive-ar-and-vr-market

Check our upcoming research reports @ https://www.reportsanddata.com/upcoming-reports

Visit our blog for more industry updates @ https://www.reportsanddata.com/blogs

Tushar Rajput
Reports and Data
+ 12127101370
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.