Development Status and Import and Export Market Analysis of the Automotive Parts Industry in 2025

In recent years, with the steady growth of global automobile sales, the size of the automotive parts market has continued to expand. Automotive components refer to various units and components that make up the entire car and serve the car. These components are an indispensable part of the automotive manufacturing and maintenance process, covering multiple aspects from the engine, transmission system, braking system, steering system, driving system to electrical system, body and accessories. They together constitute the entirety of a car and determine its performance, safety, comfort, and environmental friendliness.

There are many types of automotive components, ranging from large components such as engines, transmissions, and body frames to small parts such as bolts, nuts, sensors, wires, etc., all of which belong to the category of automotive components. The quality and performance of these components directly affect the overall quality and performance of the car, so car manufacturers and component suppliers attach great importance to the research and development, manufacturing, and quality control of components.

Development Status and Import/Export Market Analysis of the Automotive Parts Industry

The automotive parts industry chain consists of upstream raw material supply, midstream parts manufacturing, downstream vehicle assembly, and after-sales market. The quality and price of upstream raw materials directly affect the cost and quality of components; Midstream manufacturers need to continuously improve their processing technology and quality control capabilities; Downstream demands quick response to market changes and efficient after-sales service.

According to statistics, the global automotive parts market is expected to reach approximately RMB 1.34004 trillion in 2023 and is projected to reach RMB 1.57426 trillion by 2030, with a compound annual growth rate (CAGR) of 2.3% from 2024 to 2030. Among them, the scale of China's automotive parts market is also constantly expanding. In 2023, China's automotive parts exports reached 88.4 billion US dollars, a year-on-year increase of 9.1%. This growth momentum is due to the continuous improvement of domestic automotive parts enterprises' technological level and product quality, as well as the global procurement trend.

According to the '2024-2029 Development Trends and Investment Strategy Forecast Report of China's Automotive Parts Industry' released by China Research Institute Puhua Industry Research Institute, it shows that:

The export volume of China's automotive parts products has maintained a stable growth trend in recent years and is expected to continue to grow in the future. According to data, the export volume of automotive parts increased from 145 million in 2020 to 246 million in 2023. Due to the impact of the epidemic, the growth rate of China's automotive parts export volume gradually increased from 2021 to 2023.

Chart: Analysis of China's Automotive Parts Export Volume from 2020 to 2023

Data source: Calculated by the General Administration of Customs of China and Zhongyan Puhua

From recent years' data, it can be seen that the export value of Chinese automotive parts has continued to grow, indicating that the competitiveness of China's automotive industry in the global market is constantly improving. In 2020, China's automobile parts exports amounted to 390.932 billion yuan, a year-on-year decrease of 5.8%. By 2021, China's automobile parts exports had significantly increased, with a growth rate of 25.0%. Although the growth rate showed a significant decline in 2022, the growth rate of China's automotive parts continued to rebound in 2023, with exports reaching 616.586 billion yuan.

Chart: Analysis of China's Automotive Parts Export Value and Growth Rate from 2019 to 2023

Data source: Compiled by the General Administration of Customs of China and Zhongyan Puhua

The rapid development of new energy vehicles has brought new growth points to the automotive parts industry. With the continuous increase in the penetration rate of new energy vehicles, the demand for related components such as batteries, motors, and electronic controls continues to grow. New technologies such as intelligence, lightweighting, energy conservation, and environmental protection have become important directions for industry development, providing new opportunities for the automotive parts industry. Under the wave of global component procurement, the international competitiveness of China's automotive component industry continues to grow, and the export volume continues to rise.

Problems such as insufficient strategic planning, pressure to improve quality, and unreasonable production management still exist. The intensification of market competition requires enterprises to continuously improve their technological level and product quality to cope with market changes. Fluctuations in raw material prices, international trade frictions, and other factors may also have a certain impact on the automotive parts industry.

Prediction of Future Development Trends in the Automotive Parts Industry

With the rapid development of new energy vehicles and intelligent driving technology, the automotive parts industry is undergoing profound changes. In terms of electrification, the popularity of new energy vehicles has driven an increase in demand for key components such as batteries, motors, and electronic controls; In terms of intelligence, the popularization of intelligent driving technology has promoted the penetration rate of high-end components such as sensors, LiDAR, and cameras.

The trend of automobile lightweighting and electrification will drive the rapid growth of related components, and there is still significant development space for lightweight material components such as aluminum alloy. At the same time, with the increasing global awareness of environmental protection and the transformation of energy structure, the automotive parts industry also needs to pay more attention to environmental protection and sustainable development. Under the wave of global component procurement, the international competitiveness of China's automotive component industry continues to grow. Meanwhile, with the increasing demand for automobiles in emerging markets and sufficient labor supply, the global automotive industry chain is gradually shifting towards Asia, especially China.

In summary, the current market situation of the automotive parts industry presents the characteristics of continuous expansion of market size, perfect industrial chain structure, diversified competitive landscape, and coexistence of opportunities and challenges. In the future, with the development of trends such as electrification, intelligence, and lightweighting, as well as the advancement of global procurement and industrial transfer, the automotive parts industry will usher in more development opportunities and challenges.

Zhongyan Puhua collects, organizes, processes, analyzes, and transmits massive market data to provide customers with a comprehensive set of information solutions and consulting services, helping them minimize investment risks and operating costs, seize investment opportunities, and enhance their competitiveness. To learn more about the latest professional analysis, please click on the '2024-2029 Development Trends and Investment Strategy Forecast Report of China's Automotive Parts Industry' by Zhongyan Puhua Industry Research Institute.