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 SWOT Analysis Chapter
The Auto Part Manufacturing industry in China is in the growth phase of its life cycle. Industry value added is expected to increase at an annualized rate of 10.4% between 2010 and 2020, much faster than China's average GDP (6.5% per year) over the same period.
The industry's enterprise and establishment numbers are also expected to increase during 2010 and 2020, indicating new market entrants and greater investment in sales network development.
Technological changes and innovations are relatively frequent in the industry. Several foreign manufacturers that have recently entered the market have established joint ventures with local companies and brought advanced technologies and management expertise... purchase to read more