Overall revenue growth for the “Top 100 in Both Parts” has slowed markedly.
Release Date:
2019-09-23
On September 18, the 2019 Dual Top 100 Automotive Parts Companies Awards Ceremony was held in Nanjing. The “Dual Top 100” refers to the “2019 China Top 100 Automotive Parts Companies” and the “2019 Global Top 100 Automotive Parts Companies,” both of which are ranked based on the 2018 revenue of parts manufacturers.
These two rankings provide a clear picture of the current landscape and trends in the global auto-components industry, highlighting the development trajectories of leading international firms and clarifying the position and performance of Chinese auto-components companies on the global stage. At present, the global automotive industry is experiencing a downturn, with domestic production and sales slowing, and these adverse effects have already begun to ripple through the components sector.
Fang Yinliang, a Global Partner at Roland Berger Strategy Consultants, noted in his analysis of the ranking that in 2018 the global automotive components market posted revenue growth of only 1%, with the industry’s average profit margin remaining at 7%. He warned that both revenue and profit margins in the components sector face ongoing downward pressure going forward. The ranking also yields three additional conclusions.
First, the top 100 global auto-parts companies have demonstrated relatively stable overall performance, with pronounced economies of scale and limited downward pressure. In 2019, the combined revenue of the world’s top 100 auto-parts firms—based on 2018 data—totaled approximately RMB 7.37 trillion, up about 12% from the previous year. Of these, 86 reported revenue growth, and 19 exceeded RMB 100 billion in revenue. Notably, eight Chinese companies made the international ranking.
Second, the “head effect” among China’s top 100 auto-parts companies has become even more pronounced, with overall growth rates declining markedly. In 2019, the combined revenue of China’s top 100 auto-parts firms (based on 2018 data) totaled approximately RMB 1.18 trillion, up 13.3% from the previous year; among them, 16 companies posted growth rates exceeding 20%. However, both the overall growth rate and the number of companies maintaining positive growth have been shrinking compared with previous years, and a significant number of firms have even recorded negative growth. Four leading firms, including Weichai Power, enjoy an overwhelming lead, collectively accounting for 38% of the total revenue of China’s top 100 auto-parts companies.
Third, growth among enterprises is concentrated in the new-energy and intelligent automotive electronics sectors. Among the 2019 Top 100 Chinese auto-parts companies, those with revenue growth exceeding 20% have largely made proactive investments in electrification-related components and smart cockpit technologies. Fang Yinliang points out that auto-parts firms should pursue development along three key axes—internal organizational transformation, continuous product upgrades, and strengthening their financial stability—to enhance their resilience in a sluggish market environment.
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