1. Electrification and intelligence: With the rapid development of new energy vehicles, the auto parts industry is expanding in the direction of electrification and intelligence. The increasing penetration rate of new energy vehicles has driven the growth in demand for electrified components. At the same time, intelligent technologies such as autonomous driving and Internet of Vehicles are also developing continuously.
2. Lightweight: In order to improve fuel efficiency and performance, the auto parts industry is developing in the direction of lightweight, which involves the application of new materials and innovation in manufacturing processes.
3. Global competition: The competitiveness of Chinese auto parts companies in the global market is gradually increasing. They not only perform well in the domestic market, but also show strong vitality in the international market. Through product exports and production capacity overseas, Chinese auto parts manufacturers have successfully expanded customers such as local international car companies and domestic car companies going overseas with their leading electric smart technology and rich mass production experience.
4. Technological innovation and R&D: The auto parts industry is shifting from "cost advantage" to "R&D, integration, innovation" and other high-quality development paths. Technological innovation has become the key for enterprises to improve their competitiveness.
5. Supply chain optimization: With the reshaping of the global supply chain, the auto parts industry needs to optimize supply chain management to cope with the challenges of global competition and cost pressure.
6. Market size growth: The global auto parts market continues to grow. Global auto parts revenue will be US$1.51 trillion in 2021. The compound growth rate of the global auto parts market from 2016 to 2021 will exceed 3%.
7. Environmental protection and sustainable development: The strengthening of environmental protection regulations has promoted the development of the auto parts industry in a more environmentally friendly and sustainable direction, which includes the use of recyclable materials and reducing pollution during the production process.
8. Policy support: The Chinese government’s support for new energy vehicles is an important factor in promoting the development of the auto parts industry. Strong support at the policy level has laid a solid foundation for the development of the parts industry.
9. Export growth: The export of China's auto parts industry is developing well. The export markets are other regions in Asia excluding China, North America and Europe. The export Products are mainly key parts and spare parts.
In the next five years, lang ju will focus on technological innovation, electrification, intelligence, lightweight, global competition, supply chain optimization, market scale growth, environmental protection and sustainable development.