Innovation and Breakthrough in China's Automotive Parts Industry

The market size of China's automotive parts industry continues to grow, and it is expected to exceed 4.8 trillion yuan by 2028

This growth is driven by technological innovation, especially in the fields of new energy vehicles and intelligent connected vehicles. New energy vehicle technology, including battery technology, electric drive technology, and fuel cell technology, is committed to improving energy efficiency and reducing environmental pollution

The global automotive parts market is expected to reach $453 billion by 2026, with revenue reaching $1513.09 billion in 2021, demonstrating the enormous potential of the industry and the continuous expansion of market space.

The integration of intelligent and networked technologies, including autonomous driving, connected vehicles, artificial intelligence, and big data, is redefining the way cars drive. Autonomous driving technology relies on sensors such as LiDAR and cameras, as well as advanced algorithms, to achieve autonomous driving of cars, effectively reducing human operational errors and improving road safety.

Lightweight and environmental protection technology focuses on the use of lightweight materials such as high-strength steel, aluminum alloy, carbon fiber, as well as engine energy-saving and emission reduction technologies, exhaust gas recirculation technologies, etc., aiming to reduce vehicle weight, lower fuel consumption and emissions, and enhance the environmental performance of vehicles.

Intelligent manufacturing technology, relying on 5G, industrial Internet, artificial intelligence, big data and other advanced technologies, is promoting the intellectualization and automation of the automobile manufacturing process. The introduction of intelligent production lines has improved production efficiency and flexibility, meeting the increasingly diverse needs of consumers.

The export performance of Chinese automotive parts is remarkable, with an export value of 88.4 billion US dollars in 2023, a year-on-year increase of 9.1%

This fully demonstrates China's competitiveness and influence in the global automotive parts market.

The challenges faced by the automotive parts industry include rapid technological innovation, stricter environmental regulations, and supply chain restructuring. The response strategies include green transformation, optimizing supply chain management, strengthening brand building, and talent cultivation.