Industry scale will continue to grow In the coming years, the scale of the domestic Auto Parts market will increase with the growth of the auto market. With the rapid growth of vehicle production, China's auto parts industry has also achieved spurt growth in the past 10 years. The auto parts industry has grown from over 60 billion yuan in 2000 to over one trillion yuan in 2009. According to the average growth rate of the past 10 years, the domestic spare parts market in 2010 is expected to reach 1.4 trillion yuan. From the perspective of the troika driving the growth of the auto parts industry, the domestic domestic market, aftermarket and export market will all be expected to maintain growth. The supporting market will be the most important driving factor. In recent years, the domestic automobile market has grown rapidly. The production and sales volume in the next two years will be expected to reach 15 million vehicles. Due to the factors of vehicle upgrade, it is estimated that it will bring more than double the supporting market. output value. The aftermarket will maintain growth without suspense. At present, there are more than 8 million vehicles added each year. With the large number of new vehicles purchased after 2003 entering a large number of warranty periods, the aftermarket will have a higher growth rate than the previous five years. The export market was the largest driving force for growth before 2008, and the export value soared from 15 billion yuan in 2002 to about 120 billion yuan in 2007, a net increase of more than 1,000 billion yuan. Since the financial crisis, the growth rate has declined due to factors such as the appreciation of the renminbi and international trade frictions. However, at present, the Chinese government attaches importance to the export of parts and components and has introduced relevant policies to ensure steady growth of exports. Moreover, the appreciation of the renminbi has brought certain difficulties to exports, but it is limited to countries and regions directly linked to the US dollar. In addition, the export structure of auto parts and components has also shifted from the main export aftermarket to the aftermarket and supporting markets. Therefore, the scale of future export parts will also continue. Independent research and development of core technologies is the future trend In recent years, in line with the rapid development of vehicle companies, new developments have been made in the establishment of an independent innovation system for China's auto supporting enterprises, and the ability of independent innovation of enterprises has been significantly improved. However, compared with the speed of technological progress in the automotive industry in the world today and the actual demand for the development of complete vehicle companies, the issue of independent innovation in China's auto supporting enterprises is still a bottleneck in the development of the industry. It urgently needs to be improved from the system construction. At present, independent component companies have formed a certain scale in traditional, low-value-added components, such as wheels, glass, tires, mechanical steering/braking, and seats. However, high-tech and high-value-added components, especially electronic components such as air conditioners, electric steering, electronic brakes, suspension systems, and engine control, are basically controlled by wholly foreign-owned enterprises or joint ventures. China's auto parts industry has been developed on the basis of commercial vehicle parts. Except for the development of individual companies in the expansion of the passenger car parts market, most parts and components investment has failed to give full play to its effectiveness. Even lost the opportunity to upgrade technology. In the planning for the revitalization of the automobile industry that has already been announced, "the autonomy of key component technologies has been achieved" has been repeatedly mentioned. For this purpose, the state will also invest 10 billion yuan in the next three years as a special fund for the technological transformation and technological upgrading of automotive companies. Many companies are also improving their independent R&D capabilities through overseas acquisitions, the establishment of a research and development linkage mechanism with vehicles, and the strengthening of the company’s own technical personnel. In the future, domestic parts and components companies will carry out independent research and development, and gradually mastering key technologies will be the trend of the times. Overseas mergers and acquisitions by domestic companies have become a trend Domestic foreign-owned auto parts and cross-sea acquisitions have gradually become a major hot spot in the domestic auto market. Mergers and acquisitions integration, as another kind of "going out" strategy for domestic companies in addition to exports, will become more evident in the next two years. In 2009, there has been a wave of mergers and acquisitions of domestic parts and components companies. Under the background of a wave of mergers and reorganizations in foreign markets, the good situation in the domestic auto market has caused most domestic parts and components companies not to consider selling them. Many second- and third-tier parts suppliers in foreign countries are facing bankruptcy and mergers. Therefore, the target and opportunities for M&A of domestic parts and components companies will be mainly abroad. For domestic parts and components companies, the acquisition of foreign companies in the sea can not only open up the market, but also improve the core technology and business. Especially in the context of the monopoly of high-end auto parts in the monopoly of multinational auto parts companies, which has been criticized by the Chinese people for a long time, more and more Chinese parts and components companies regard scouting overseas as the best way to obtain core technology due to the promotion of policies. According to investigations, at present, 40% of parts and components companies are willing and actively preparing for future mergers and acquisitions transactions. With the trend of internationalization of parts and components industry, more domestic parts and components companies will participate in overseas mergers and acquisitions in the future to accelerate industrial upgrading, enhance the company’s core competitiveness and autonomy of key parts and technologies.
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