Building the Future: Automotive Body in White Market Set to Reach US$ 89.4 Billion by 2033 with a CAGR of 3.5%

Nov 06, 2023

The automotive body in the white market is expected to be worth US$ 61.5 Billion in 2022. The market is anticipated to surpass US$ 89.4 Billion in 2033 from US$ 63.5 Billion in 2023. The demand for the automotive body in white is predicted to grow at a 3.5% CAGR during the forecast period.

The market for the automotive body in white products is being driven by an increase in motorization rates caused by rising disposable income levels among populations globally. The desire for the unique body in white solutions is being driven by the ongoing development of electric and autonomous vehicles, which drives creativity in vehicle structure design to accommodate enormous battery packs and new crash testing criteria.

During the forecast period, the worldwide automotive body in white market is anticipated to grow as a result of the changing specifications of the body in white solutions brought on by the introduction of next-generation automobiles. The market for the automotive body in white is primarily driven by three factors: rising vehicle demand, demand for lighter, more fuel-efficient automobiles, and demand for stronger, more durable vehicles. The market for automotive body in white is primarily driven by three factors: rising vehicle demand, demand for lighter, more fuel-efficient automobiles, and demand for stronger, more durable vehicles

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The necessity for transportation, economic growth, and population increases all influence the demand for automobiles. To cut greenhouse gas emissions and save money on gasoline, automobiles must become lighter and more fuel-efficient. To increase safety and lower repair costs, cars must become stronger and more resilient.

According to figures from the American Trucking Association, trucks carried 72% of the domestic freight in the United States in 2019. The fleet of active Class 8 trucks climbed by 2% in 2019 to a total of 3.91 million units, according to the report. Consequently, the global automotive body in the white market is being driven by the growth of the automotive industry.

Key Takeaways from Automotive Body in White Market –

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Who is Winning?

Due to the existence of prominent regional and international competitors, the vehicle body-in-white market is a relatively consolidated one. These businesses have robust regional and international distribution networks and are implementing plans to provide a wide choice of products in this market. To maintain their market position, they are entering into partnerships, contracts, and collaborations.

Kirchhoff Automotive GmbH, Benteler International, ThyssenKrupp AG, Voestalpine AG, Martinrea International Inc., Gestamp Automocion, Magna International Inc., CIE Automotive, Autokiniton Global Group, H-One Co., Ltd., JBM Auto, Dura Automotive Systems, Futaba Industrial Co., Ltd., Shiloh Industries, and Multimatic Inc. are a few of the leading businesses operating in the market.

Automotive Body in White Market by Category

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Recent Developments –

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