Industry Analysis & Industry Trends
The development of the Auto Part 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. In 2009, the Chinese government launched a series of measures to boost automobile sector growth. These measures included reduced automobile sales taxes, direct subsidies to rural households purchasing automobiles, and the indirect effects of the government's $500 billion stimulus package. At the end of 2012, the total number of automobiles in use in China was nearly 121 million; this number is expected to continue increasing rapidly in future years.... purchase to read more
Industry Report - Industry Analysis Chapter
Revenue for the Auto Part Manufacturing industry in China has been growing at an annualized rate of 19.7% in the five years to 2013. In 2013, industry revenue is expected to increase 14.9% to total $420.2 billion.
Strong growth in the downstream Automobile Manufacturing industry (IBISWorld industry report 3721) drove a significant proportion of revenue growth in the Auto Part Manufacturing industry in the five years through 2013. The number of automobiles manufactured in China increased at an annualized rate of 17.6% between 2006 and 2012 to 19.3 million units.Strong domestic demand for cars, as well as increased foreign demand for the industry's products, will continue to drive industry growth... purchase to read more