According to the research report titled ‘Global Automotive Body-in-White Market Size study by Material Type (Aluminum, Steel, Magnesium, CFRP), by Component Position (Structural, Inner, Exposed), by Component Types (Fenders, Closures, Shock Towers, A-Post/ B-Post, Others), by Body Structure (Frame Mounted Structure, Monocoque Structure) and Regional Forecasts 2020-2027’, available with Market Study Report, global automotive body-in-white market accounted for USD 77 billion in 2019 and is anticipated to showcase a y-o-y growth rate of 2% between 2020 and 2027.
 

Focus towards reducing the overall weight of the vehicle in order to improve fuel efficiency as well as to meet emission regulations is a major factor driving the growth of global automotive body-in-white market. In fact, International Organization of Motor Vehicle Manufacturers claim that worldwide production of commercial automobiles reached 24.6 million units in the year 2019, which was an increase of 1.6% from the year 2017 which accounted for over 23.8 million units.
 

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For those uninitiated, automotive body-in-white is the phase that involves simultaneous welding of metal sheets in automobiles. In plain words, body-in-white is the composition of frame in vehicles before assembly of doors, chassis, engine, glass, hood, seat, and other components. It is made up of material with high mechanical strength to sustain the weight of vehicle frame and parts, while providing a rigid and stable platform for the suspension.
 

Increasing automobile production and technological advancements in manufacturing processes are also stimulating the industry outlook. However, the emergence of COVID-19 pandemic has declined the production of commercial as well as passenger vehicles, which in turn may negatively impact the industry remuneration. Apart from this, high cost of lightweight components may also act as a restraining factor to automotive body-in-white market.
 

Regionally, Asia-Pacific automotive body-in-white industry is predicted to witness rapid expansion in the subsequent years, primarily driven by high production rate of automobiles and favorable regulatory scenario pertaining to emission mitigation.
 

Europe market on the other hand, is slated to record highest growth rate during the forecast period, primarily driven by dense concentration of major automakers and technological advancements in the region.
 

The prominent companies operating in worldwide automotive body-in-white industry are Magna International Inc., Martinrea International Inc., Benteler International AG, Eagle Press & Equipment Co. Ltd., AIDA Engineering Ltd., Hyundai Rotem Co., ThyssenKrupp Systems Engineering, and Gestamp Automocion SA among others.