Special Vehicle Body Market

The global market for bodies for special purpose motor vehicles is projected to see steady growth in both volume and value over the next eight years, with a forecasted CAGR of +3.7% and +5.5% respectively. China leads in both consumption and production, followed by India and the US. Brazil, Indonesia, and the UK are also key players in the market. Import and export prices vary by country, with Belgium and the Netherlands standing out for their high export prices and Myanmar and India for their lower import prices.

Market Forecast

Driven by increasing demand for bodies for special purpose motor vehicles worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.7% for the period from 2022 to 2030, which is projected to bring the market volume to 8.3M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.5% for the period from 2022 to 2030, which is projected to bring the market value to $54.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Bodies For Special Purpose Motor Vehicles

In 2022, consumption of bodies for special purpose motor vehicles decreased by less than 0.1% to 6.2M units, falling for the fourth consecutive year after four years of growth. Overall, consumption, however, continues to indicate a perceptible increase. As a result, consumption reached the peak volume of 16M units. From 2014 to 2022, the growth of the global consumption remained at a lower figure.

The global special vehicle body market size shrank to $35.4B in 2022, declining by -2.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, posted pronounced growth. As a result, consumption attained the peak level of $114.8B. From 2014 to 2022, the growth of the global market failed to regain momentum.

Consumption By Country

China (1.3M units) constituted the country with the largest volume of special vehicle body consumption, accounting for 20% of total volume. Moreover, special vehicle body consumption in China exceeded the figures recorded by the second-largest consumer, India (447K units), threefold. The third position in this ranking was held by the United States (445K units), with a 7.1% share.

In China, special vehicle body consumption expanded at an average annual rate of +6.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+5.6% per year) and the United States (-0.3% per year).

In value terms, the largest special vehicle body markets worldwide were Brazil ($5.7B), Indonesia ($3.2B) and the United States ($3.1B), with a combined 34% share of the global market. Japan, China, Russia, Mexico, India, France, Thailand, the UK, Italy and the Czech Republic lagged somewhat behind, together comprising a further 29%.

The Czech Republic, with a CAGR of +22.7%, saw the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of special vehicle body per capita consumption was registered in the Czech Republic (16 units per 1000 persons), followed by the UK (6 units per 1000 persons), Thailand (4.7 units per 1000 persons) and France (3.1 units per 1000 persons), while the world average per capita consumption of special vehicle body was estimated at less than 0.1 units per 1000 persons.

From 2012 to 2022, the average annual rate of growth in terms of the special vehicle body per capita consumption in the Czech Republic totaled +26.4%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the UK (+2.6% per year) and Thailand (+8.3% per year).

Production

World Production of Bodies For Special Purpose Motor Vehicles

In 2022, production of bodies for special purpose motor vehicles decreased by -1.1% to 5.9M units, falling for the third year in a row after six years of growth. The total output volume increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the production volume increased by 12% against the previous year. Over the period under review, global production attained the maximum volume at 6.2M units in 2019; however, from 2020 to 2022, production failed to regain momentum.

In value terms, special vehicle body production dropped modestly to $42B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 16%. Global production peaked at $49.2B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

China (1.4M units) constituted the country with the largest volume of special vehicle body production, comprising approx. 23% of total volume. Moreover, special vehicle body production in China exceeded the figures recorded by the second-largest producer, India (513K units), threefold. The third position in this ranking was taken by Thailand (487K units), with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +6.5%. The remaining producing countries recorded the following average annual rates of production growth: India (+6.9% per year) and Thailand (-4.0% per year).

Imports

World Imports of Bodies For Special Purpose Motor Vehicles

In 2022, overseas purchases of bodies for special purpose motor vehicles increased by 15% to 1.8M units, rising for the second consecutive year after two years of decline. In general, imports posted perceptible growth. The most prominent rate of growth was recorded in 2013 with an increase of 996% against the previous year. As a result, imports reached the peak of 13M units. From 2014 to 2022, the growth of global imports failed to regain momentum.

In value terms, special vehicle body imports expanded markedly to $5.4B in 2022. The total import value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 20% against the previous year. Over the period under review, global imports attained the maximum at $5.8B in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports By Country

In 2022, the UK (316K units), followed by the Czech Republic (197K units), France (99K units), the Netherlands (96K units), Canada (89K units), Myanmar (87K units), the Philippines (84K units) and Belgium (81K units) represented the key importers of bodies for special purpose motor vehicles, together mixing up 60% of total imports. The United States (75K units), Italy (68K units), Greece (47K units), Hungary (34K units) and Ireland (30K units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +43.0%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the Netherlands ($1.4B) constitutes the largest market for imported bodies for special purpose motor vehicles worldwide, comprising 26% of global imports. The second position in the ranking was taken by the United States ($695M), with a 13% share of global imports. It was followed by France, with a 7.8% share.

In the Netherlands, special vehicle body imports expanded at an average annual rate of +3.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (-3.3% per year) and France (+8.3% per year).

Import Prices By Country

The average special vehicle body import price stood at $3,088 per unit in 2022, with a decrease of -4% against the previous year. Overall, the import price recorded a mild decrease. The pace of growth was the most pronounced in 2014 when the average import price increased by 893% against the previous year. Over the period under review, average import prices hit record highs at $3,713 per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Netherlands ($14,465 per unit), while Myanmar ($29 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+9.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Bodies For Special Purpose Motor Vehicles

In 2022, global exports of bodies for special purpose motor vehicles expanded notably to 1.5M units, increasing by 13% on 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 39% against the previous year. The global exports peaked at 1.6M units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, special vehicle body exports expanded notably to $6B in 2022. The total export value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 29% against the previous year. Over the period under review, the global exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports By Country

Italy (171K units) and Thailand (166K units) represented roughly 23% of total exports in 2022. China (101K units) held the next position in the ranking, followed by France (100K units), Sweden (100K units), India (83K units), Belgium (82K units) and Germany (72K units). All these countries together took approx. 37% share of total exports. The following exporters - Hungary (59K units), Spain (58K units), Slovakia (56K units), the Netherlands (46K units) and the United States (31K units) - together made up 17% of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +23.2%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest special vehicle body supplying countries worldwide were Belgium ($1.1B), Sweden ($886M) and Germany ($835M), with a combined 46% share of global exports. France, Italy, China, the United States, the Netherlands, Spain, Thailand, Slovakia, Hungary and India lagged somewhat behind, together comprising a further 22%.

The Netherlands, with a CAGR of +21.2%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average special vehicle body export price amounted to $4,151 per unit, waning by -4.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2013 when the average export price increased by 44%. The global export price peaked at $4,901 per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($12,781 per unit), while India ($166 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+26.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform