Motor Vehicle Body Market Size and Forecast 2024: Key Insights and Projections

Overview and Scope
Motor vehicle body refers to the piece of the vehicle that is attached to the chassis, frame, or unibody and includes the fenders, bumpers, windshields, glass, and other similar parts.

Sizing and Forecast
The motor vehicle body market size has grown strongly in recent years. It will grow from $195.48 billion in 2023 to $212.85 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%.  The  growth in the historic period can be attributed to strong economic growth in emerging markets, favorable government initiatives, and increased investments.

The motor vehicle body market size is expected to see strong growth in the next few years. It will grow to $294.27 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.  The growth in the forecast period can be attributed to the increase in production of passenger cars, the rising urbanization and the increasing adoption of electric vehicles. Major trends in the forecast period include focus on lightweight materials, use of augmented reality, focus on autonomous vehicles, advanced lighting systems and strategic partnerships and collaborations.

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Segmentation & Regional Insights
The motor vehicle body market covered in this report is segmented –

1) By Type Of Vehicle: Passenger Vehicle, Light Commercial Vehicle, Heavy Trucks, Buses And Coaches
2) By End Use: OEM, Aftermarket

Asia-Pacific was the largest region in the motor vehicle body market in 2023. Western Europe was the second largest region in the global motor vehicle body market share. The regions covered in the motor vehicle body market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
Increasing production of passenger cars, light commercial vehicles, buses, and heavy trucks is projected to contribute to higher demand for the motor vehicle body. For instance, according to Invest India, the country’s annual production in FY 2021 was 22.7 million vehicles, and from April to October 2021, two-wheelers and passenger cars accounted for 81.2% and 14.6% of the shares, respectively. Thus, an upsurge in the production of motor vehicles and rising investments are anticipated to drive the demand for growth of the motor vehicle body market.

Key Industry Players
Major companies operating in the motor vehicle body market report are Magna International Inc, Lear Corporation, General Motors Co, Aisin Seiki Co ltd, Faurecia SA, Plastic Omnium SA, Grupo Antolín Irausa SA., Mitsubishi Motors Corporation, Autoliv Inc, Paccar Inc, Tata Motors Passenger Vehicles Limited, Ashok Leyland Limited, Eicher Motors Limited, Beml Limited, Jbm Auto Limited, Komatsu India Private Limited, Volvo Group India Private Limited, Flsmidth Private Limited, Daewoo Motors India Limited, Amw Motors Limited, Utkal Automobiles Private Limited, Chongqing Zhidao Machinery Co, Ltd, Shandong Taixing Casting Co., Ltd, Suizhou Fuhua Automobile Trailer Co., Ltd, Potou Jiaohe Hongxing Machinery Factory, Aptiv Plc, Rolls-Royce Plc, Sensata Technologies Holding Plc, Tesla Motors Limited, Perkins Engines Company Limited, Alliance Automotive Procurement Limited, Marelli Automotive Systems UK, Ibc Vehicles Limited, Avtotor, Moskvich, Benteler Automotive Poland Sp. O, Nissens coolers Poland, Umicore Autocat Poland Sp. z o.o, Ford, Chrysler, GM, Toyota, Nissan, Mazda, Honda, Bombardier Inc, Linamar Corporation, Flex-N-Gate Corporation, Martinrea International Inc, Key Safety Systems (KSS), BMW Brazil, DHB Sistemas, Chevrolet, Volkswagen, Iveco, Arabian Automobiles Co. LLC, Geely, AI shirawi LLC, Inkas, Naffco, Manufacturing Commercial Vehicles Co. S.A. E, Cania AB, Mercedes-Benz (Egypt), Innoson Vehicle Manufacturing (IVM), MAN SE

The motor vehicle body market report table of contents includes:

1. Executive Summary
2. Motor Vehicle Body Market Characteristics
3. Motor Vehicle Body Market Trends And Strategies
4. Motor Vehicle Body Market – Macro Economic Scenario
5. Global Motor Vehicle Body Market Size and Growth
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31. Global Motor Vehicle Body Market Competitive Benchmarking
32. Globa Motor Vehicle Body Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Fat Replacers Market
34. Motor Vehicle Body Market Future Outlook and Potential Analysis
35. Appendix

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