Motor Vehicle Body Market Report 2025

The motor vehicle body market size has grown strongly in recent years. It will grow from $213.56 billion in 2024 to $232.86 billion in 2025 at a compound annual growth rate (CAGR) of 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 $322.25 billion in 2029 at a compound annual growth rate (CAGR) of 8.5%. 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.

The rising production of passenger cars, light commercial vehicles, buses, and heavy trucks is expected to drive increased demand for motor vehicle bodies. For example, in November 2023, Statistics Canada reported a slight increase in the total number of registered road motor vehicles in 2022, reaching 26.3 million, which represented a 0.3% rise from the previous year, adding 78,655 vehicles to the roads. Therefore, the growth in motor vehicle production and rising investments are anticipated to fuel demand for the motor vehicle body market.

The ongoing growth of electric vehicles is set to propel the motor vehicle body market in the future. Electric vehicles (EVs) rely on electric motors for propulsion, utilizing lightweight and aerodynamically efficient motor vehicle bodies to optimize range and battery efficiency. According to the International Energy Agency, the global electric car market experienced significant growth, with sales exceeding 10 million in 2022. The percentage of electric cars in overall sales rose from around 4% in 2020 to 14% in 2022, with an anticipated sales target of 14 million by the end of 2023. This surge is driven by increased purchases in the latter half of the year, showcasing the impact of electric vehicle growth on the motor vehicle body market.

Various structural materials, including iron, steel, and metals, are utilized in the automotive industry, with aluminum gaining preference as the material of choice for advanced vehicles. The Aluminum Association highlights aluminum's cost-effectiveness and environmentally friendly attributes, contributing to improved efficiency, reduced emissions, and enhanced fuel efficiency in vehicles. Tata Technologies collaborated with NIO China to develop the first electric all-aluminum vehicle, showcasing the industry's shift towards advanced materials.

Major players in the motor vehicle body market are introducing innovative materials such as SolvaLite SF200 to meet the demand for high-quality surfacing film for luxury automotive body panels. SolvaLite SF200, developed by Solvay, is a surfacing film tailored for 'Class A' paintable automotive body panels with fast-cure technology. Solvay's launch of SolvaLite SF200 at the Composite and Advanced Materials Expo (CAMX) 2022 reflects its commitment to providing cutting-edge composite solutions. With a curing time of under 10 minutes at 150 °C, SolvaLite SF200 ensures a smooth surface essential for painting, offering improved longevity, strong adhesion to auto paints and primers, and reducing pre-painting adjustments.

In September 2022, Mullen Automotive, a US-based electric vehicle company, acquired Bollinger Motors for $148.2 million. This strategic acquisition aims to enhance Mullen's stock of medium-duty trucks and sport utility vehicles through the addition of Bollinger's designs, marking a noteworthy development in the electric vehicle sector.

Major companies operating in the motor vehicle body market include 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, Jbm Auto Limited, Volvo Group India Private Limited, Amw Motors Limited, Chongqing Zhidao Machinery Co, Ltd, Shandong Taixing Casting Co., Ltd, Suizhou Fuhua Automobile Trailer Co., Ltd, Potou Jiaohe Hongxing Machinery Factory, Aptiv Plc, Sensata Technologies Holding Plc, Tesla Motors Limited, Alliance Automotive Procurement Limited, Marelli Automotive Systems UK, Ibc Vehicles Limited, Avtotor, Moskvich, Benteler Automotive Poland Sp. O, Umicore Autocat Poland Sp. z o.o, Ford, Chrysler, Toyota, Nissan, Mazda, Honda, 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, Manufacturing Commercial Vehicles Co. S.A. E, Cania AB, Mercedes-Benz (Egypt), Innoson Vehicle Manufacturing (IVM)

Asia-Pacific was the largest region in the motor vehicle body market in 2024. 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. The countries covered in the motor vehicle body market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

A motor vehicle body refers to the outer shell of a vehicle that accommodates passengers and cargo while providing protection. It defines the vehicle's appearance and comprises components such as the roof, doors, and windows. Typically constructed from materials like steel or aluminum, the body is designed to be both strong and lightweight.

The main types of vehicles in the motor vehicle body category include passenger vehicles, light commercial vehicles, heavy trucks, buses, and coaches. Passenger vehicles are specifically designed and constructed for the transportation of people and their luggage. These vehicles are utilized both in the original equipment manufacturer (OEM) sector and the aftermarket.

The motor vehicle body market research report is one of a series of new reports that provides motor vehicle body market statistics, including motor vehicle body industry global market size, regional shares, competitors with a motor vehicle body market share, detailed motor vehicle body market segments, market trends and opportunities, and any further data you may need to thrive in the motor vehicle body industry. This motor vehicle body market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The motor vehicle body market consists of sales of fenders, bumpers, windshields, glass, seats, motors, transmissions, air conditioning condensers, and radiators. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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