global demand for the Body in White (BIW) market (Automobiles & Vehicles - Auto Insurance)

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Item ID 1077092 in Category: Automobiles & Vehicles - Auto Insurance

global demand for the Body in White (BIW) market

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The global demand for the Body in White (BIW) market is expected to grow at a CAGR of xx%, xx% xx%, and xx% respectively in Europe, North America, APAC, and the Middle East. The Body in White (BIW) market was valued at US$ xx Mn in 2019 is expected to reach US$ xx Mn by the end of 2027 at a CAGR of 4.7% from 2019 to 2027. Body in white (BIW) it is the stage in the automobile where body shell structure sheet metal components are welded together just before painting. In the early stages, car shell structures were kept in white color before assembling suspension, engine. It is kept white to give a color choice to the customer. The BIW design is driven by the factors such as aesthetic, aerodynamic, and cost criteria. The BIW structure supports all interior parts like dashboard, trims, seats, etc. and all exterior components like the front bumper, rear bumper, fenders, mirrors, etc. mounted on the structure in means of mounting brackets and nuts on the BIW.

Market Dynamics:

The automobile sector is driven by light weighting key to next-generation product development using cost-effective alternative material like aluminum, composite materials, global positioning systems (GPS) in high-end cars due to their several advantages. It has become popular in low-end vehicles as well in coming years BIW accounts for 50% weight of the vehicle, having a scope to reduce the weight by means of alternative materials. Steel is always favored by automobile industries due to its simplicity in fabrication, but in the last several year's fuel prices are rising and recycling regulations are coming into force, therefore, it becomes need to reduce the weight of vehicles. The primary materials used in the BIW structure are steel, aluminum, and CFRP (Carbon fiber reinforced plastic). However, factors such as the high initial cost required for different types of manufacturing methods may restrict the market growth.

As the governments are more focused on the alternative for nonrenewable energy resources as the drastic climatic change, as a result, led to global warming, thus, the demand for environmentally friendly technologies and products are increasing. The automotive industry is focusing on the innovation and technologies on the vehicles whose primary propulsion systems are not based upon fossil fuels. For example, a Low Carbon Vehicle Technology Project (LCVTP), partly funded by the European Regional Development Fund (ERDF), has taken an initiative to reduce the consumption of fuel and save renewable energy resources this has built many lucrative opportunities for the key players operating in the body-in-white market. The project included designing a lightweight Body-In-White (BIW), specifically tailored to suit the drive train and general packaging requirements associated with a Hybrid Electric Vehicle (HEV). The future opportunities for optimizing the new lightweight vehicle architecture has been investigated using a technique entitled topology optimization, which extracts the idealized load paths for a given set of load cases, followed by a shape and size optimization in order to provide local areas of the vehicle with more advanced features.
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This Report Is Submitted By : Maximize Market Research Company
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Target Nation: All Nations
Target City : pune
Last Update : 19 February 2021 4:57 AM
Number of Views: 118
Item  Owner  : aarti
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2021-10-22 (0.402 sec)