The auto parts market has expanded
With the rapid development of China's auto industry, the increase of car ownership and the expansion of auto parts market, China's auto parts industry has developed rapidly, the growth rate is higher than China's vehicle industry. Data show that the sales revenue of Auto parts in China increased from 3.46 trillion yuan in 2016 to 4.57 trillion yuan in 2020, with a compound annual growth rate of 7.2%. It is expected that the sales revenue of auto parts in China will reach 4.9 trillion yuan in 2021 and 5.2 trillion yuan in 2022.
Auto parts trade surplus increased
In recent years, the import and export amount of Auto parts in China has shown an increasing trend. In 2021, China imported 37.644 billion US dollars of auto parts, up 15.9% year on year. The value of exports reached us $75.568 billion, up 33.7% year on year. The trade surplus was US $37.924 billion, an increase of US $13.853 billion year-on-year.
Auto parts companies increased
In recent years, the number of auto parts related enterprises registered in China continues to grow, and the number of auto parts related enterprises registered in 2020-2021 exceeded 100,000 units. In 2021, 165,000 auto parts-related enterprises were registered, up 64.8% year on year. It is expected that the number of registrations of Chinese auto parts related enterprises will exceed 200,000 in 2022.
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