This article will review the situation of China's auto parts exports in 2024, and analyze the distribution and demand of major global auto parts markets, so as to provide auto parts companies with market dynamics and development direction forecasts.
1. Overall situation of China's auto parts exports in 2024:
According to the data of the General Administration of Customs compiled by the China Association of Automobile Manufacturers, from January to October 2024, the total export of auto parts reached US$87.03 billion, a year-on-year increase of 5.7%. At the same time, the export of complete vehicles is also gratifying. During this period, the number of automobile exports reached 5.2849 million, a year-on-year increase of 24.8%; the total export volume was US$98.304 billion, a year-on-year increase of 18.6%. This growth is not accidental, but the result of the combined effect of multiple factors.
First, the continuous upgrading and technological innovation of the domestic auto parts industry have significantly improved the quality and performance of products, thereby enhancing its competitiveness in the international market. Secondly, the global automobile market is gradually recovering, especially the growing consumer demand for automobiles in emerging economies, which has created a broad market space for the export of Chinese auto parts.
2. Market distribution and growth:
In today's globalized business environment, the market distribution and growth trends of the auto parts industry show diverse characteristics. Next, we will conduct an in-depth analysis of the two major markets of North America and Europe.
1. North American market:
The United States is one of the largest automobile markets in the world, and its demand for auto parts accounts for a quarter of the global market (data source: EWTO Research Institute). At the same time, the United States is also one of the most popular overseas markets for Chinese cross-border auto parts sellers.
In 2024, the average age of passenger cars in the United States has risen to 12.6 years, a record high. Due to the high local labor costs, many car owners choose to replace auto parts and perform daily maintenance by themselves. In addition, there are a large number of car owners who are keen on personalized DIY transformation, which makes auto parts always maintain strong demand in the US market. According to a report released by eBay, the demand for auto and truck parts in the US market has increased significantly, with sales of air filter housings doubling, while sales of key parts such as brake calipers and shock absorbers have more than tripled. The rise of e-commerce shopping is also driving the growth of the US auto parts market. In recent years, online sales of auto parts in North America have grown by 12%, far higher than the offline sales of 3.8%. It is expected that in the future, online sales of auto parts will account for more than 20% of total sales.
2. European market:
The demand for auto parts in the traditional European market is not only huge, but also growing rapidly. According to the European Commission's forecast, the European auto and motorcycle parts market will reach 1.2 trillion euros in 2023, a year-on-year increase of 4.5%. This growth is mainly due to the rapid increase in car ownership and the popularity of new energy vehicles. At the same time, consumers' pursuit of car personalization, comfort and safety has greatly promoted the demand for personalized accessories.
In the UK, consumables and replacement parts account for more than 50% of auto parts demand, while engine parts account for 18%. British car owners tend to do vehicle maintenance at home, so car washing tools, cleaners, polishing and waxing products are popular. eBay data shows that due to the shortage of new car parts and supply chains, the demand in the used car modification market has surged, and the demand for products such as car and truck shock absorbers and maintenance kits has increased by more than 2.5 times.
The tire market in Germany accounts for more than 40% of the demand for auto parts. Due to strict winter tire regulations, October is the peak period for people to buy winter tires. In addition, the demand for auto parts such as fuel tanks, radiators and drive shafts in the German market in 2023 has also increased significantly (data source: eBay). In countries that are also affected by ice and snow weather, the demand for anti-skid chains and anti-skid tires also shows a significant increase from October to December each year.
3. Market category demand analysis：
In various countries, different types of products show their own unique market demand characteristics and development trends.
01. Tires:
Tires are an important category in the automotive accessories industry. The US and European markets have a large demand for Chinese tires, which is mainly attributed to the advantages of Chinese tires in terms of cost performance. However, these markets usually have strict requirements on tire models and certifications. For example, the US market has clear regulations on indicators such as wet grip and wear resistance of tires, while the European market pays more attention to the environmental protection performance and low noise characteristics of tires (data source: market research agency report). Therefore, Chinese tire companies need to pay close attention to changes in market standards and continuously improve the quality and performance of products to meet the needs of different markets.
02. Headlights and taillights:
In the automotive lighting industry, Jiangsu and Zhejiang regions have rich LED lamp manufacturing resources, making automotive headlights an important export product. With the continuous advancement of automotive intelligence and electrification, the market's requirements for headlights and taillights in terms of lighting effects, energy-saving performance and intelligent control are increasing. For example, technologies such as adaptive headlights and matrix headlights have gradually become standard configurations for high-end models (data source: industry research report). Therefore, Chinese auto parts companies need to increase R&D investment and improve the technical level of their products to adapt to market development trends.
03. Bumpers:
Zhejiang and Shandong regions are the main production bases for bumpers, providing abundant sources for export. The US market has a large demand for pickup truck bumpers, which is closely related to the usage habits and road conditions of local consumers. However, different countries and regions have different requirements for the material, strength and appearance design of bumpers. For example, the European market pays more attention to the lightweight and anti-collision performance of bumpers, while the Japanese market has higher expectations for the refinement of the appearance (data source: industry analysis report). Therefore, when enterprises produce and export bumpers, they must customize production according to the characteristics of the target market.
04. Turbochargers:
Turbocharged products sell well in the US, German and British markets, mainly in the form of modified parts. With the continuous pursuit of automotive power performance, the application of turbocharging technology in automotive engines is becoming increasingly popular (data source: International Automotive Market Research). China's turbocharged enterprises should strengthen cooperation with the international modification market, deeply understand the latest modification needs and trends, and launch personalized products that meet market demand.
05. Automotive glass:
Automotive glass is mainly exported to automobile manufacturing powers such as the United States, South Korea, Germany and Japan. These countries have high automobile production and strict requirements on the quality, optical properties and safety of automotive glass (data source: automotive glass industry research). Therefore, China's automotive glass enterprises must adopt advanced technology and equipment in the production process to ensure that the products meet international standards. At the same time, enterprises also need to continuously launch automotive glass products with innovative functions, such as heat-insulating glass and UV-proof glass.
06. Car mat interior:
China has significant resource advantages in the production of interior products such as car mats and seat covers. However, there are differences in the style, material and environmental protection standards of interior products in various markets. For example, the European market prefers environmentally friendly and simple interiors, while the US market prefers luxurious and comfortable designs (data source: interior market analysis report). Therefore, enterprises should adjust product design and production strategies according to the demand characteristics of different markets.
07. Shock absorbers:
The United States, Germany, the United Kingdom, Australia and other countries have strong demand for shock absorbers made in China. The quality and performance of shock absorbers are directly related to the driving comfort and handling of the car. Consumers in these countries have high expectations for the driving experience of cars, so the demand for high-quality shock absorbers has also increased accordingly (data source: market demand survey report). In order to meet the international market's requirements for high performance of shock absorbers, China's shock absorber companies need to continuously improve their product research and development capabilities and manufacturing processes.
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In 2024, China's auto parts exports will be very strong, with major markets concentrated in North America and Europe, and demand for diversified categories. This is both an opportunity and a challenge for auto parts factories and dealers. At the same time, we also welcome friends from all over the world to cooperate with our Chinese suppliers.
