Development status and market size analysis of China's auto parts industry in 2021

Development characteristics of China's auto parts industry

China's auto parts industry started from the production of parts for trucks.
Since the reform and opening up, through the introduction and transformation of technology for parts enterprises supporting cars, as well as the establishment of a number of joint ventures and wholly-owned enterprises, it has gradually realized.
From the main production of truck parts to car parts, from simple imitation to introduction, digestion and absorption and re-innovation, equivalent substitution, independent design and development, and the rapid change from facing the domestic market to facing both domestic and foreign markets
.

On the one hand, the overall strength of domestic auto parts companies, which are the basis for the development of China's auto industry, is still weak, and there is still a big gap compared with mature foreign companies
.
On the other hand, after years of independent development and accumulation of experience, China's auto parts industry has greatly improved its product development and technological innovation capabilities compared with the past, and cultivated a group of large-scale parts enterprises with development and design capabilities
.
At present, China's auto parts companies have basically been able to meet the growing market demand of the vehicle supporting market and after-sales service market, and gradually have the parts development and product matching capabilities for commercial vehicles, medium and low-end passenger vehicles, and some high-end passenger vehicles.
The ability to introduce and digest cutting-edge technologies for parts and components
.
With the continuous improvement of the layout of China's auto industry, China's auto parts industry has continuously improved its overall competitiveness, exerted its comparative advantages, and deeply participated in the international division of labor
.
As the global auto industry begins to implement the strategy of "global procurement" of parts and components, China has gradually become a key area for the layout of parts giants, and the export value of auto parts has increased year by year
.
At the same time, domestic auto parts enterprises with high technology content, good benefits and large scale have gradually grown up, and their design and production capacity and product quality have been recognized by foreign customers and dealers
.

At present, in the domestic market, some engine parts with low technical content, low added value, and high transportation costs have basically achieved localized matching; but for hydraulic tappets, hydraulic tensioners, rocker arms and variable In order to ensure the successful development and reliable quality of the core components of the engine such as the valve system, well-known OEMs generally adopt the principle of careful localization
.
With the current improvement of product quality and technical level of domestic local enterprises, they have gradually begun to purchase from domestic local enterprises
.

Market size of China's auto parts industry

In recent years, the development speed of the market scale of China's auto parts industry has stabilized.
Driven by the steady growth of the auto industry, the overall development of the parts market has tended to be good.
However, due to the epidemic in 2020, China's auto parts industry in 2020.
The market size of China has declined to 4.
12 trillion yuan, a year-on-year decrease of 3.
7%
.

Chart: Market Scale of China's Auto Parts Industry in 2018-2020