Harrisburg, NC -- (SBWIRE) -- 10/14/2020 -- Motor Vehicle Body Global Market Report 2020-30: Covid 19 Impact and Recovery

The motor vehicle body market consists of sales of motor vehicle body and related services. Motor vehicle body industry establishments primarily engaged in manufacturing of automobile bodies such as truck, bus and coaches bodies.

The automotive industry uses various structural materials including iron, steel, and other metals. Recently aluminum has been the most preferred metal in the automotive industry as a material of choice for next-gen and advanced vehicles. According to The Aluminum Association, aluminum is used predominately in the automotive industry attributing to its cost-effective, and environment-friendly way to improve efficiency and performance, reduce emissions, boost fuel efficiency while improving and maintaining durability and safety. For instance, in April 2018, Tata Technologies announced the collaboration with NIO China to develop NIOs range of electric vehicles. This partnership was aimed towards the production of the first electric all-aluminum vehicle of NIO. Tata Technologies, a Tata Group company, is engaged in providing services in engineering & design, manufacturing, management, and IT services to the automotive original equipment manufacturers and their suppliers.

The global motor vehicle body market was worth $398.58 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 10.76% and reach $599.87 billion by 2023.

Top Leading Companies mentioned are

Motor Coach Industries International, Blue Bird Global Corporation, Gillig, Mickey Truck Bodies, Utilimaster Corporation, Morgan Truck Body, Morgan Olson, McNeilus Companies, Truck Bodies & Equipment International, Reading Truck Body.

News and Latest Development:

In September 2019, Spartan Motors Inc., a North America based company, a leader in specialty vehicle manufacturing and assembly for the commercial and retail vehicle industries, acquired Royal Truck Body (Royal) for an undisclosed amount. Through this acquisition, the Spartan Motors Inc. expands its manufacturing operations into Southern California, Northern California, and additional West Coast markets, advancing its U.S. footprint strategy with six additional operating facilities located in California, Arizona, and Texas. Royal Truck Body, a California based company, designer, manufacturer and installer of service truck bodies and accessories.

Increasing production of passenger cars, light commercial vehicles, buses, and heavy trucks is projected to contribute to higher demand for the motor vehicle body. According to the International Organization of Motor Vehicle Manufacturers (OICA), the global production of motor vehicles increased from 94.9 million in 2016 to 95.6 million in 2018. Also, rising investments in the automotive industry have provided ample growth opportunities for players dealing in automotive manufacturing. According to India Brand Equity Foundation (IBEF), the Indian automotive industry has attracted Foreign Direct Investment (FDI) worth US$ 22.35 billion from April 2000 to June 2019. Thus, upsurge in the production of motor vehicles and rising investments anticipated driving the demand for motor vehicles body favoring the markets growth.

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The motor vehicle market covered in this report is segmented by type of vehicle into passenger vehicle, light commercial vehicle, heavy trucks, buses, coaches.

Fluctuating prices of metals such as steel, iron, and aluminum is projected to limit the growth of the motor vehicle body market. According to Trade Economics, the prices of steel increased from US$ 425.0 per million ton in January 2017 to US$ 568.0 per million ton in January 2019. Moreover, the prices of aluminum increased from US$ 1670.8 million per ton in January 2017 to US$ 1803.0 million per ton in January 2019. Therefore, the fluctuations in the prices of metal is anticipated to hinder the growth of the motor vehicle body market in the forecast period.                                                                                                                     

This report provides a detailed analysis of the Motor Vehicle Body market with description of market sizing and growth, segmentation of market by products & services and major markets, top market players etc. The report recapitulates the factors that will be responsible for the growth in the market in the forecasted period.  

Essential points covered in Global Motor Vehicle Body Market2020 Research are:-

What will the market size and the growth rate be in 2020?
What are the key factors driving the global Motor Vehicle Body market?
What are the key markets trends impacting the growth of the global Motor Vehicle Body market?
What are the challenges to market growth?
Who are the key vendors in the global Motor Vehicle Body market?
What are the market opportunities and threats faced by the vendors in the global Motor Vehicle Body market?
What are the key outcomes of the five forces analysis of the global Motor Vehicle Body market?

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This independent 300 pages report guarantees you will remain better informed than your competition. With over figures examining the Motor Vehicle Body market, the report gives you a visual, one-stop breakdown of the leading products, submarket and market leader's market revenue forecasts as well as analysis to 2020.

Geographically, this report is segmented into several key Regions, with Sales, revenue, Market Share (%) and Growth Rate (%) of Motor Vehicle Body in these regions, from 2014 to 2020(forecast), covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Furthermore, the report provides a detailed analysis of the global Motor Vehicle Body market with analysis of market size by value and volume. Along with this, an analysis of penetration rate and the average revenue generated per user (ARPU) in the market has also been done. The report also includes a detailed analysis of the global Motor Vehicle Body market by countries, comprising of its market by value, volume, and ARPU and penetration rate.

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Identify growth segments for Motor Vehicle Body.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market research findings.
Benchmark performance against key competitors.
Utilize the relationships between key data sets for superior strategizing.
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The research includes historic data from 2014 to 2020 and forecasts until 2020 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs. The report will make detailed analysis mainly on above questions and in-depth research on the development environment, market size, development trend, operation situation and future development trend of Motor Vehicle Body on the basis of stating current situation of the industry in 2020 so as to make comprehensive organization and judgment on the competition situation and development trend of Motor Vehicle Body Market and assist manufacturers and Motor Vehicle Body organization to better grasp the development course of Motor Vehicle Body Market.

Note: All the reports that we list have been tracking the impact of COVID-19 . Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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