Press Release Summary = With China shifting its focus from producing essential goods to high-value industrialized goods, its Auto part market is witnessing a gradual boom.
Press Release Body = Auto part exports in China have witnessed a more than six-fold increase in the last five years from 2002 –2006, almost touching $1 billion in April 2007 and arising among the rapidly growing category of Chinese industrial product sold overseas. Over half of these auto parts are exported to US followed by Europe and Japan.
The increase in China’s auto part exports is an aspect of a broader scenario. China is shifting its focus from producing essential goods such as shoes; textiles and toys towards producing high-value industrialized goods as the production of high-value goods provide better wages.
Rising output levels at Chinese auto assembly plants are generating a huge demand for auto parts and creating the economies of large-scale production which was earlier possible only in North America, Europe and Japan. Chinese auto parts would soon find a demand in overseas markets not just in crates but also as part of fully assembled cars as several Chinese automakers are planning to export in the coming few years.
The above scenario was substantiated by RNCOS’ recent report “China Automobile Industry Forecast (2006-2010)” as per which, the Chinese auto part market would witness a good growth in the near future as global manufacturers look for local sourcing of the components. Domestic producers are looking for avenues of growth in the export market.
The report further stated the revenue generated by the Chinese auto part market in the year 2005-2006. Its auto engines, parts, tyres and other related products exports respectively generated foreign exchanges of approximately US$ 22 Billion.
The report capably addresses some further interesting issues for today’s global business environment such as demand and supply analysis of China’s auto industry, drivers for the China’s auto market as well as the opportunities for the players to exist in the market.
The report provides an extensive research and objective analysis of the Chinese automobile industry thereby helping clients in analyzing the opportunities critical to its growth.
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RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today\'s globally competitive environment.
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2022
