Industry Report - Auto Parts Manufacturing in China.pdf
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1、CONTENTS Error! No text of specified style in document. September 2011 | 1-800-330-3772 | IBISWorld Industry Report 3725 Auto Parts Manufacturing in China September 2011 About This Industry . 2 Industry Definition . 2 Main Activities . 2 Similar Industries 2 Additional Resources 3 Industry Perform
2、ance 4 Executive Summary 4 Key External Drivers . 4 Current Performance 4 Industry Outlook 8 Industry Life Cycle 10 Products however, domestic WWW.IBISWORLD.COM.CN Auto Parts Manufacturing in China September 2011 9 manufacturers still need to strengthen their R technical expertise and knowledge; gov
3、ernment and environmental regulations; and, reputation. Investment scale The need to invest in large and efficient manufacturing facilities can discourage competitors from entering the industry. High costs associated with the construction of facilities are a significant deterrent to entry. In additi
4、on to these, the cost of developing large scale production is very high. Technical expertise and knowledge As some existing firms have technical expertise, skilled workers and advanced technology, new firms must have a significant advantage to establish the processes needed to enter the industry and
5、 start competing. Establishment of a sales network and developing distribution channels will pose additional challenges for newcomers. Government and environmental regulations Due to the hazards, materials, and waste that firms in this industry produce, national and local governments require environ
6、mental approvals to operate in the industry. Requirements to comply with environmental legislation and regulations are important legal barriers facing a new manufacturer to the industry. Establishing a good reputation As some domestic and foreign manufacturers have good reputations and well-known br
7、ands, customers may prefer to deal with these suppliers, which creates a further barrier to entry. WWW.IBISWORLD.COM.CN Auto Parts Manufacturing in China September 2011 22 Industry Globalization The level of globalization is medium and increasing. The Automobile Parts and Accessories Manufacturing i
8、ndustry in China is subject to a medium globalization level, which is expected to increase in the future. Several foreign automobile parts and accessories manufacturers have entered the China market in recent years by establishing factories and joint ventures with domestic firms. This resulted from
9、strong domestic demand for high-quality automobile parts and accessories products in China. In addition, foreign firms see strong opportunities for company expansion and development in China. Foreign enterprises were estimated to account for about 44.6% of industry revenue in 2011. In addition to th
10、ese, many domestic companies have emerged in the past decade and gradually entered the international market, which has accelerated industry globalization. China has become one of the top countries for automobile parts and accessories manufacturing in the world. Many countries now import these produc
11、ts from China. With greater levels of foreign investment in this industry in China in the future, the globalization trend is expected to increase. Revenue Shares based on Ownership - 2011 Ownership Revenue Share Percentage Enterprise Share Percentage State Owned 4.2 1.4 Collectively Owned 1.2 1.9 JE
12、CE 0.9 1.4 Shareholding 6.0 2.0 Private 28.6 54.8 Foreign 44.6 21.7 Other 14.5 16.8 SOURCE: ACMR-IBISWORLD ESTIMATE WWW.IBISWORLD.COM.CN Auto Parts Manufacturing in China September 2011 23 Major Companies Major Player Market Share Wanxiang Group 5.0% (2011) Beijing Hyundai Mobis Auto Part Co., Ltd.
13、1.1% (2011) Shanghai Huizhong Automotive Manufacturing Co., Ltd. 0.8% (2011) United Automotive Electronic Systems Co,. Ltd. 0.7% (2011) Changchun FAWAY Automobile Components Co., Ltd. 0.5% (2011) Other 91.9% (2011) Wanxiang Group Market Share: 5.0% Wanxiang Group was founded in July 1969 and is head
14、quartered in Xiaoshan city, Zhejiang province. Currently, it employs over 40,000 workers. The groups main products include universal joints, bearings, and CV joints. Wanxiang Group has a manufacturing base covering four square kilometers, and has strategic partnerships with local factories in Changc
15、hun, Hubei, Hainan, Henan, Jiangsu, Heilongjiang, and Anhui. The group has 31 companies (including 18 holding companies or other ventures) in eight countries, such as the United States, United Kingdom, Germany, and Canada. Wanxiang Group manufactures a large range of products, from spare parts to co
16、mponents and systematic template supplies. It sells to domestic and foreign markets, including to customers in over 40 countries in the world, including the United States, Canada, Latin and South America and all of Europe. The groups products have been sold to some major automobile manufacturers, in
17、cluding GM and Ford. Wanxiang America Corporation provides full-line customer service to clients in the United States, Canada, and South America. In addition to the automotive market, Wanxiang is also involved in large-scale agriculture, aquaculture, real estate development, infrastructure developme
18、nt, and other programs. Financial performance In March 2011, the first phase of an expansion project was put into operation, which increased the annual production capacity of wheel bearings by 2.5 million sets. The project is expected to be completed in 2014, which will lead to an increase of 10 mil
19、lion sets of wheel bearings in annual production capacity. Wanxiang Group is forecast to account for 5% of total industry revenue in 2011 and is now the market leader. In 2010, Chinas automobile market experienced rapid development. Both output and sales of automobiles in China had surpassed 18 mill
20、ion units. Surging downstream demand stimulated the revenue growth of the company. By the end of 2010, Wanxiang Group generated revenue of $9.77 billion, up 28.7% from 2009, with an annualized growth rate of 26.4% in the period from 2006 to 2010. In January 2008, Wanxiang Group acquired Automotive C
21、omponents Holdings (ACH) via its US subsidiary Neapco. ACH is the subsidiary of Ford engaged in auto parts manufacturing in the United States. In July 2007, Wanxiang Group acquired 30% shareholding of AI, which is the top supplier of auto parts for GE, Ford and Chrysler. Wanxiang Group enlarged the
22、foreign market share of auto parts by this acquisition. WWW.IBISWORLD.COM.CN Auto Parts Manufacturing in China September 2011 24 In 2005 and 2006, the company developed rapidly due to the expansion of the automobile industry. In 2005, company revenue increased by 90.8% to $3.08 billion and the group
23、s assets nearly doubled to $2.06 billion. In this year, Wanxiang Group merged with Hubei Tongda Automobile Parts Co., Ltd. and SP Company (US). However, net profit declined due to the increased price of raw materials, restructuring costs, and intense competition. The groups market share slightly imp
24、roved to 4.1% of total industry revenue. Financial Performance of Wanxiang Group - 2004 to 2010 Year Revenue US Million Dollars Growth % change EBIT US Million Dollars Growth % change Assets US Million Dollars Growth % change 2004 1613.6 N/C 93.5 N/C 1038.9 N/C 2005 3078.7 90.8 92.7 -0.9 2057.0 98.0
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