Industry Analysis & Industry Trends
The development of the Auto Parts Manufacturing industry is being driven by the fast-growing Automobile Manufacturing industry (IBISWorld industry report 3721) and strong growth in the number of automobiles in use across China. At the end of 2014, the total number of automobiles in use in China was nearly 154.5 million; this number is expected to continue increasing rapidly in future years.
China's accession to the World Trade Organization (WTO) in 2001 helped facilitate the development of the automobile parts and accessories market by encouraging an open and rational market structure. However, membership in the WTO also meant that China had to reduce its tariffs and nontariff barriers, and open up its service sector.... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Auto Part Manufacturing industry in China has a low concentration level, which is expected to remain steady in future years. Revenue of the top four firms is expected to account for 13.3% of total industry revenue during 2015. There are a large number of small and medium enterprises operating in the industry, and the market is highly fragmented.
There are many manufacturers that operate on a small scale and are privately owned. The majority of these lack substantial capital, technologies and employees, and only produce single products and spare parts.
The low concentration level also reflects the diverse nature of the industry's products. Firms tend to focus on particular parts or markets, and the majority of enterprises manufacture single products... purchase to read more