TechNavio recognizes the following companies as the key players in the Auto Parts Manufacturing Industry in China: Wanxiang Group Corp., Beijing Hyundai Mobis Automotive Parts Co. Ltd., Shanghai Huizhong Automotive Manufacturing Co. Ltd., and United Automotive Electronic System Co. Ltd.
Commenting on the report, an analyst from TechNavio’s Automotive team said: ”As a result of the rising industry challenges, domestic players in the Auto Parts Manufacturing industry in China are moving toward globalization and are entering new untapped and growing automobile markets across the globe. Globalization offers Chinese auto parts manufacturers benefits such as high economies of scale, new growth opportunities, and greater flexibility in terms of operations. It also minimizes cultural and communication barriers, and thus increases efficiency. Furthermore, globalization helps manufacturers remain highly competitive by reducing various operational and process costs.”
According to the report, one of the main drivers in this market is the growth of the Passenger Vehicle market in China. The increasing demand for passenger vehicles has a direct positive influence on the demand for auto parts.
Further, the report states that one of the main challenges in this market is the increasing raw material prices and wages in China, which affects the financial status of manufacturers.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Changchun Faway Automobile Components Co. Ltd., Dongfeng Motor Suspension Spring Co. Ltd.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/auto-parts-manufacturing-industry-china…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our Automotive market research, please visit https://www.technavio.com/automotive
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TechNavio Announces the Publication of its Research Report – Auto Parts Manufacturing Industry in China 2012-2016
