China's auto parts market analysis and forecast: 2018 turnover will exceed 400 billion yuan (chart)
Auto parts are the units that make up the whole of auto parts processing and the products that serve the processing of auto parts. The auto parts industry is the premise and foundation for supporting the sustained and steady development of the auto industry. With the advancement of economic and global market integration, the position of the auto parts industry in the auto industry system has been continuously improved. In recent years, the production and operation of multinational automobile companies has gradually shifted from the traditional vertical integrated production model to the development of specialized production models focusing on complete vehicle projects. With the rapid rise of auto consumption in emerging markets, the world's leading component production giants have poured into emerging markets and actively implement localization strategies. It is worth noting that in recent years, China has contributed a lot in the global auto parts market, and China has become an increasingly important global exporter of auto parts. In 2015, the sales revenue of China's auto parts manufacturing enterprises was 3211.7 billion yuan, a year-on-year increase of 10.47%. According to the “Report on China's Auto Parts Market Prospects and Investment Opportunities for 2018-2023†issued by the China Industry and Business Research Institute, it is predicted that in 2018, the growth rate of China’s auto parts market will reach 7.1%, and the turnover is expected to reach 4004.7 billion yuan. yuan. Source: China Association of Automobile Manufacturers, China Chamber of Commerce On the export side, benefiting from the support of industrial policies and the global integration of auto parts procurement, the export of auto parts and components in China has grown rapidly, and the major export countries and regions are developed industries such as the United States, Japan, and the European Union. The auto parts export market has developed steadily. It is estimated that the export volume will reach USD 65.5 billion in 2018. Source: China Association of Automobile Manufacturers, China Chamber of Commerce
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