This report provides an overview of China’s auto parts industry, including market trends through H2 2013 and an analysis of the sector’s outlook for the coming year. The report also profiles leading players including Huayu Automotive, Fuyao Glass, Changchun FAWAY, Weifu, and Zhongding Group.
China’s auto parts industry revenue expanded at a CAGR of 27.3% between 2005 and 2012. Profit margins, however, have continued to decline since 2010. The industry recorded a 6.5% profit margin out of RMB 1.9tn of sales revenue in the first nine months of 2013. Total industry assets surpassed RMB 1.5tn in 2012 and grew to over RMB 1.8tn in the first three quarters of 2013. During the same period, imports and exports of auto parts, accessories, and bodies reached USD 20.1bn and USD 23.2bn, respectively. Gearboxes are the single largest import category and accounted for over 30% of the total value of imports in the first three quarters of 2013.
Local auto parts makers lag behind international competitors in automotive electronic control systems. The new China IV emission standards would create new demand for exhaust after-treatment systems and expand the existing production output of the fuel injection market. The movement toward modular architecture among automakers might drive consolidation among auto parts manufacturers.
• Stock performance information and financial indicators are included for firms including Huayu Automotive Systems Co. Ltd., Fuyao Glass Industry Group Co. Ltd., Changchun FAWAY Automobile Components Co. Ltd., Weifu High-Technology Group Company Limited, and Anhui Zhongding Sealing Parts Co. Ltd.
• The Chinese auto parts industry has started to see more steelmakers investing and expanding into the industry.
• The majority of local parts manufacturers do not possess core technologies due to limited resources and R&D capabilities.
• Joint venture has become the preferred way for foreign auto parts makers to establish and expand operations in China.
Table of Contents
1. Industry Profile
1.1 Market Size and Value
1.2 Domestic Auto Parts Makers
1.3 Foreign Auto Parts Makers
1.4 Imports and Exports
2. Market Trends and Outlook
2.1 China IV Emission Standards
2.2 The Entry of Steelmakers
2.3 Alternate Fuel Vehicles
2.4 Automakers’ Modular Platforms Strategy
3. Leading Players and Comparative Matrix
3.1 Leading Players
3.1.1 Huayu Automotive Systems Co. Ltd.
3.1.2 Fuyao Glass Industry Group Co. Ltd.
3.1.3 Changchun FAWAY Automobile Components Co. Ltd.
3.1.4 Weifu High-Technology Group Co. Ltd.
3.1.5 Anhui Zhongding Sealing Parts Co. Ltd.
3.2 Comparative Matrix
3.3 SWOT Analysis
4. Tables and charts
Table 1: Timetable of Emission Standards Enforcement
Table 2: Huayu Automotive Financial Highlights
Table 3: Fuyao Glass Financial Highlights
Table 4: Changchun FAWAY Financial Highlights
Table 5: Weifu High-Tech Financial Highlights
Table 6: Anhui Zhongding Financial Highlights
Table 7: Selected Peer Comparison of Key Financial Ratios
Chart 1: Total Number of Motor Vehicles in China
Chart 2: Automobile Production in China
Chart 3: Auto Parts Industry Revenue and Profit Margin
Chart 4: Total Assets of Auto Parts Industry
Chart 5: Number of Enterprises in Auto Parts Industry
Chart 6: Auto Parts Industry Workforce
Chart 7: Trades of Auto Parts, Accessories and Bodies
Chart 8: Gearbox Imports and Exports
Chart 9: Sales of Commercial Vehicles
Chart 10: Huayu Automotive Segment Revenue 2012
Chart 11: Fuyao Glass Segment Revenue 2012
Chart 12: Changchun FAWAY Segment Revenue 2012
Chart 13: Weifu High-Tech Segment Revenue 2012
Chart 14: Anhui Zhongding Segment Revenue 2012
Release Date: Fri, 20 Dec 2013