Global Body in White Market Worth $90.5 Billion by 2027 - Exclusive Market Report by M&M - Seite 2

Electric vehicle passenger car sales have witnessed high growth over the last few years. The construction of the electric vehicle BIW structure is primarily dependent on light-weighting to attain the required mileage without compromising the structural integrity and safety. The vehicle curb weight of fully electric passenger car has been reduced to approximately 160 kilos by using lightweight materials to attain maximum mileage per charge which increases the manufacturing cost of BIW components, thus increasing the market value of the body in white components. With the increase in the number of electric vehicles, the BIW market is expected to grow.

Europe: Germany is expected to lead the Europe market

Europe is estimated to be the fastest-growing market during the forecast period. Germany is expected to lead the market due to the presence of large automakers and focus on R&D on new technology. The massive sales of electric vehicles in the region coupled with the projected boost in sales due to the presence of supporting regulations towards the manufacture and use of these automobiles is expected to subsequently drive the growth of the market during the forecast period.

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The Body in White Market is led by globally and regionally established players such as Gestamp Automoción (Spain), Voestalpine Group (Austria), Magna (Canada), Benteler International (Austria), CIE Automotive (Spain), Tower International (US), Martinrea International (Canada), Aisin Seiki (Japan), KIRCHHOFF Automotive (Germany), Dura Automotive (US), Thyssenkrupp (Germany), and JBM Auto (India). These companies have strong distribution networks at a global and regional level.

In addition, these companies offer an extensive product range in this market. These companies adopt strategies such as new product developments, collaborations, and contracts & agreements to sustain their market position.

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