Although growing fast, the young industry still lags behind those in developed countries.
San Francisco, CA (PRWEB) May 12, 2013
In 2013, revenue for the Auto Part Manufacturing industry in China is expected to total $431.6 billion. Over the five years through 2013, revenue has been increasing at an annualized rate of 20.4%, says IBISWorld. The development of the 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.
China's Auto Part Manufacturing industry is less efficient compared to those in developed countries, and faces increasing competition as the market continues to become more globalized. The production of advanced automotive parts is still very limited in China and products such as acoustic systems, automobile special-purpose ICs (integrated chips), high-end sensors, and microprocessors are imported from developed countries, says IBISWorld.
The industry has a low concentration level, which is expected to remain steady in future years. Revenue of the top four firms–Wanxiang, Hyunda Mobis, Shanghai Huizhong Automotive Manufacturing and United Automotive Electronic Systems–is expected to account for 6.8% of total industry revenue during 2013, says IBISWorld.
There are a large number of small and medium enterprises operating in the industry, and the market is highly fragmented. 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. Only some larger firms are able to manufacture a wide variety of automobile parts and accessories, says IBISWorld.
For more information, visit IBISWorld’s Auto Part Manufacturing in China industry report page.
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IBISWorld Industry Report Key Topics
Businesses in the Auto Part Manufacturing industry in China produce parts, accessories and components for motor vehicles, including motor vehicle bodies, mechanical and electronic components, and parts for electric motors. These manufacturers supply motor vehicle assembly and replacement part companies (i.e. the aftermarket).
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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