The report titled “Automotive
Aftermarket in China”, provides a
comprehensive analysis of China’s automotive aftermarket, growth
of the sector, major products, leading players new trends and future of China’s
automotive aftermarket. China is the emerging and fastest growing countries
within the automotive aftermarket industry. The country generates billions of
revenue in the automotive aftermarket industry. The growing automobile manufacturing
industry has led to the development of the aftermarket industry which also has
a strong growth due to the increasing number of automobiles that are in use
across China. The use of automobiles in China would continue increasing rapidly
in future years. China has encouraging an open and rational market structure
that has helped to facilitate the development of the automobile parts and
accessories market.
Growth of the Automotive
Aftermarket: The automotive aftermarket in China is still at a budding stage and will
witness an annualized growth. Technological changes, innovations and new
players are relatively frequent in the aftermarket industry. Several foreign
manufacturers in the joint ventures introduced advanced technologies and
management expertise in the aftermarket industry. The major factors affecting
the aftermarket industry are successful industrial relations policy, having an
extensive distribution/collection network, and undertaking technical research
and development.
China’s Aftermarket Products and Leading Players: The aftermarket industry in China comprises of spare parts,
accessories, components for motor vehicles, motor vehicle bodies, and parts for
electric motors. The major industry products in China’s aftermarket are
mechanical parts and accessories, electric motor parts and accessories, electronic
parts and accessories, engine parts and accessories, chassis parts and
accessories, automobile body parts and accessories, electric components and
parts, other parts and accessories. Majors leading aftermarket dealers in China
are PANGDA Automobile Trade Group Co., Ltd., Sinomach Automobile Co., Ltd.,
Zhongsheng Group Holdings Limited, Dah Chong Hong Holdings Limited, China Grand
Automotive Services Co., Ltd., China ZhengTong Auto Services Holdings Limited,
China Yongda Automobile Services Holdings Limited, Wuxi Commercial Mansion
Grand Orient Co., Ltd., Baoxin Auto Group, Harmony Auto, Yaxia Automobile,
Materials Industry Zhongda Group Co., Ltd., Lei Shing Hong, and Hengxin
Automotive.
The
aftermarket in China also consists of used car sales, automotive finance, car
repair, car interiors and automotive insurance markets. There is a demand for
used cars in China due to the frequent mergers and acquisitions in car industry
and the vast networking of automotive distribution. It was observed that the
sale of new and used cars in China has been rising drastically over the recent
years. China’s automotive distribution and aftermarket are diversified due to 4S
store mode which was replaced by business modes like automobile e-commerce and
automobile supermarket.
Future of Automotive Aftermarket in China: Chinese government decisions regarding regulations and incentives
also influence the direction and development of aftermarket services. The lifetime
of automobiles in China has reach 5 years by the year 2018and the Chinese
automotive aftermarket will experience a boom in the next few years. The
automotive aftermarket in China will surely generate some opportunities and
challenges that automotive companies, auto part makers and aftersales service
providers encounter when looking to secure high performance. This boom is meant
for a dramatic growth in passenger vehicle sales because of the large
population providing vast potential for aftermarket which will continue to increases
in the future. Aftermarket growth is connected with the growth in related
industries, such as repairs, maintenance, auto finance, car beauty, modification,
and second hand sales. Chinese automotive aftermarket is on the verge of
massive expansion due to the faster growth rate than the car industry will experience.
Key Topics Covered in this Report:
China Automotive Aftermarket Research ReportChina Automotive Industry Analysis
China Automotive Aftermarket Volume Sales
China Automotive Aftermarket Revenue
China Automotive Aftermarket Analysis
China Automotive Aftermarket Sector Forecast
China Automotive Aftermarket Industry Competition
China Automotive Aftermarket Industry Future Outlook
China Automotive Aftermarket companies
China automotive Aftermarket Industry Trends
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Ankur Gupta, Head Marketing &
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