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 Products Chapter
Mechanical parts and accessories
Mechanical parts and accessories make up the main product segment of the industry, contributing 52% of total industry revenue in 2015. The majority of automobile components are mechanical parts, including bearings, filters, covers, brakes and clutches. The price of mechanical parts has increased in the past few years due to the rising price of raw materials.
Electric motor parts and accessories
The second-largest industry segment is parts and accessories for electric motors, accounting for an estimated 24.5% of total industry revenue in 2015. This segment includes starting motors, alternators, control units for electronic systems, and mechanical and electronic drivers... purchase to read more