Thanks to the development of the global vehicle market, the automotive parts industry has experienced rapid growth in recent years. The automotive parts industry in developed countries has the characteristics of large scale, strong technical strength, sufficient capital strength, high industry concentration, and global synchronous matching. A group of world-renowned automotive parts enterprises represented by Bosch, ZF, Magna, Dianzi, and mainland China have emerged in the industry. These internationally renowned automotive parts enterprises have strong economic and research and development capabilities, and have formed strong competitiveness in brand, technology, and scale, leading the development direction of the global automotive parts industry;

At the same time, with the rapid economic growth of developing countries and the continuous improvement of scientific and technological levels, major global automobile manufacturers have also increased their investment in emerging markets and actively carried out industrial layout. The production center of the global automobile industry is gradually shifting from traditional markets represented by the United States, Europe, Japan and South Korea to emerging markets represented by China, Brazil, and India. Driven by this, the technical strength and manufacturing capacity of the automobile and parts industry in developing countries have been significantly improved.

In addition, after years of development, the global automotive parts industry has evolved from simple supply of scattered parts to systematic supply of whole parts and assembly systems. The industrial scale has gradually grown, the industrial chain has gradually enriched, and the industrial strength has significantly enhanced. With the further refinement of the global value chain, the automotive parts industry, as an important link in production, has become increasingly involved in the development and production process of complete vehicles. The market based supporting supply relationship between complete vehicle manufacturers and parts enterprises has gradually matured, greatly promoting the development of the parts industry.