With the global increase in automobile ownership, particularly the rising demand for new vehicles in developing countries, the auto parts market continues to expand. This report analyzes the international performance of China's auto parts industry based on export data from 2018 to 2024.

The data shows that during this period, China's auto parts exports experienced fluctuating growth, with a significant upward trend emerging after 2021. In 2021, export volume increased by 38.27% compared to 2020. Over the next two years, exports maintained strong growth momentum, reaching $53.685 billion in 2023, a year-on-year increase of 7.73%. Although export volumes for 2024 show a slight decline compared to the previous year, it is important to note that the data only covers the first nine months of the year and does not fully reflect the entire market for 2024. When compared to the same period in 2023, exports still show a year-on-year growth of 3.2%, indicating a positive growth trend.

These figures highlight that the rapid growth from 2021 to 2023 reflects the recovery of the global automobile market and the increasing demand for high-quality, cost-effective Chinese auto parts. Additionally, the rising demand for new energy vehicles (NEVs) and related components has been a key driver of growth. This growth has been further supported by national policies, such as the "Go Global" strategy, which encourages Chinese companies to expand into overseas markets, and favorable conditions created by bilateral and multilateral free trade agreements.

China's auto parts exports are distributed across multiple regions worldwide, underscoring the country's indispensable role in the global automotive supply chain. In terms of value, North America, particularly the United States, accounted for 20.82% of the total export value in 2024. Asian markets, including Japan, South Korea, and Thailand, contributed approximately 15.4% of the total, while Europe, led by Germany, accounted for 5.02%.

Additionally, the rise of emerging markets, such as Russia, the UAE, and Brazil, has provided new growth opportunities for China's auto parts exports, contributing 4.39%, 3.06%, and 2.26% of the total export value, respectively.

As vehicle ownership continues to grow in developing countries, emerging markets such as Russia and the UAE are expected to provide more opportunities for Chinese companies in the coming years. Diversifying markets also helps to mitigate risks and expand a broader customer base.

Although the future presents various uncertainties and challenges, the Chinese auto parts industry has demonstrated strong resilience and growth potential over the past few years. Leveraging its economies of scale, cost advantages, and steadily improving technology and service levels, the industry is expected to continue playing a significant role in the global market and achieve more stable and sustainable development in the future.

As China's first data company, Guomaotong provides import and export customs data from over 80 countries since 2010. It offers precise online analysis of market distribution, detailed transaction data for import and export enterprises, volume and price analysis, supply cycles, and more. This serves as a reliable source of data for foreign trade enterprises and industry consulting firms.

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