China's auto parts export develops rapidly

Overseas, online, in order to expand a wider market, a large number of Chinese auto parts products have begun to go overseas. According to data from China Customs, in 2021, China's auto parts exports to the world will reach US$75.577 billion, a year-on-year increase of 33.76%. According to statistics company Statista, global online sales of auto parts products will increase from US$56 billion in 2020 to US$140 billion in 2027, and the market size will increase by nearly three times.

China is the world's largest auto industry country. With a strong industrial foundation, China has also become a major exporter of auto parts.

75% of a car is produced and processed by the auto parts industry. It is generally composed of four basic parts: engine, chassis, body and electrical equipment, including drive train, brake system, steering system, engine parts, The number of automotive instrumentation, fuel system accessories, driving accessories, body parts, cooling system and other accessories can reach tens of thousands. Each independent component has also driven China's rich industrial belt, forming a country with distinctive industrial clusters such as Chongqing, Wenzhou, and Taizhou, and a relatively complete industrial chain for the entire auto parts market.

The industrial chain is complete, but the complexity of auto parts means that manufacturers can only concentrate on a certain part or a certain car brand, which is why there are different industrial clusters. Yuan Xuesong also said that for manufacturers, the huge number of brands and models, and the different parameters of each model make the accessories more complicated and difficult. It is difficult for auto parts manufacturers to be large and comprehensive, and only concentrate on a certain brand Produce a variety of products, or focus on a certain category but span multiple models. "The factory includes many suppliers, which is actually the case. Take the rearview mirror as an example. A certain manufacturer can sell all the rearview mirrors of a certain series. Finished. Then tires will be made by some people, and brake pads will be made by some people. The whole car is split, and after the split, many different people are doing it.”

Whether they focus on a certain category or a certain brand, a large number of auto parts manufacturers support and intertwine with each other, supporting the market of China's auto parts. Li Jin, an expert in the operation of the auto and motorcycle parts industry at Ali International Station, said that overall, Chinese products have outstanding characteristics and a complete supply chain, which is almost a model of IWC, and parts for almost every kind of car can be found in China.