Overview of China's automotive parts industry
Release time:
2025-03-04
By comparing the data statistics of global automotive parts suppliers in recent years, the number of Chinese companies shortlisted for the Global Top 100 list is gradually increasing. In the 2019 and 2020 Top 100 Rankings, 7 Chinese companies made it to the list. In 2021, the number of Chinese companies on the Top 100 Rankings increased to 8, and in 2022, 10 Chinese companies made it to the list. In the 2023 list, the number of Chinese enterprises has historically broken through to 13. By 2024, there will be two more Chinese companies on the list, namely Guoxuan High Tech and Sanhua Auto Parts. In addition, CATL's ranking has risen one more place, currently second only to three traditional component giants: Bosch, ZF, and Magna International. There are a total of 15 Chinese companies on the list, of which 5 are in the top 50.
At present, the revenue scale ratio of China's automobile whole vehicle and parts industry is about 1:1, which still lags behind the 1:1.7 ratio of a strong automobile country. The essence of global competition in the automotive industry is the competition of supporting systems, namely the competition of industrial chains and value chains. Therefore, optimizing the layout of upstream and downstream industries, accelerating the integration and innovation of supply chains, and building independent, safe, and controllable industrial chains are expected to continuously enhance the industry status of enterprises. In the long run, in order to reduce the risk of overseas supply disruptions, more vehicle manufacturers will include independent suppliers in their supporting systems. The automotive industry has both cyclical and growth attributes, and structural opportunities are expected in the context of limited market growth.
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