Domestic auto parts industry development trend


Under the policy support, China's auto parts enterprises will gradually improve the level of technology and innovation capabilities, mastering the core technology of key components. China's goal in 2025 to form a number of global top ten auto parts group, the industry will increase mergers and acquisitions, resources to the head of the concentration of enterprises. At the same time, driven by the development of independent brand vehicle enterprises, domestic parts and components enterprises will gradually expand their market share.

The auto industry has become an important pillar industry in China's national economy, and parts as the upstream industry in the auto industry, is an important part of the whole auto industry chain. At present, with the rapid development of China's economy and the improvement of the income level of residents, the rapid expansion of the automotive consumer market, the rapid development of China's auto parts industry has laid the foundation. The successive introduction of supporting industrial policies for the development and growth of China's auto parts industry has created a good external environment. At the same time, the huge potential of China's auto parts market and relatively low labor costs have attracted international auto parts companies to invest in China to set up factories, further promoting the development and growth of China's auto parts manufacturing industry.
In recent years, China's auto parts industry has seen steady growth in sales revenue. According to the China Association of Automobile Manufacturers statistics, China's auto parts industry sales revenue reached 4.36 trillion yuan in 2019. Although the automotive consumer market turned cold, but China's auto parts field innovation elements have formed a certain accumulation, the overall industry long-term positive momentum remains unchanged, reaching 4.70 trillion yuan in 2020. 2018-2020 China's parts industry demand scale of 4.0, 4.28, 4.61 trillion yuan, respectively.

Post time: Dec-31-2021