Research Report On The Development Status And Investment Strategy Of China's Automobile Stamping Industry
Automobile stamping parts mainly refer to metal stamping parts that constitute automobile parts.
1、 Market development status
Automobile stamping parts belong to automobile parts industry. In recent years, with the rapid development of China's automobile industry, China's automobile parts industry has also been developing rapidly, and the overall growth rate is higher than that of China's entire vehicle industry. In the past two years, due to the COVID-19 epidemic, lack of core and other factors, the growth rate of market development has declined slightly. However, with the gradual easing of the epidemic situation and chip supply, the industry has gradually ushered in a recovery. The data shows that the sales revenue of China's auto parts increased from 3.74 trillion yuan in 2017 to 4.57 trillion yuan in 2020, with a compound annual growth rate of 6.9%. In 2021, China's auto parts sales revenue will be 4.9 trillion yuan.
Data source: Research Report on Development Status and Investment Strategy of China's Automobile Stamping Industry (2022-2029)
As an important auto part, the auto stamping industry has also developed rapidly with the rapid development of the auto industry in recent years. At present, about 60% - 70% of the metal parts in the automobile manufacturing process need to be formed by stamping. Therefore, the automobile stamping parts are widely used in automobiles, and can be used as parts such as interior supports, structural reinforcements and various body panels. If there are more than 1500 stamping parts on each vehicle and the value of a single vehicle is more than 10000 yuan, the sales volume of automobiles in China will reach 26.28 million in 2021, and the automobile stamping parts market in China will exceed 260 billion in 2021.
2、 Market demand analysis
The market demand for automotive stamping parts mainly comes from the automotive industry. It is understood that automobile stamping parts are indispensable in automobile manufacturing. In recent years, with the acceleration of automobile upgrading, the continuous improvement of automation and intelligence, and the continuous expansion of the production scale of new energy vehicles, their demand is growing.
1. Automobile production and marketing
Automobile is the most important modern means of transportation. Automobiles are also the means of transportation with the largest number, the most popular, the widest range of activities and the largest transportation volume. Since the "cold weather" began in 2018, the main consumption force has decreased, and in recent years, the improvement of urban public transport, the proliferation of high-speed rail network, urban traffic restrictions and other impacts have led to the low sales of cars. Although the overall automotive market performance is low, the overall level remains high. Especially in recent years, with the development of environmental protection and greening becoming the mainstream trend, the new energy vehicle market is active. With the further promotion of new energy vehicles, the production and sales of vehicles have also increased. At the same time, there is still a gap between China's per capita car ownership and that of European and American countries. There is still room for growth in the future car market. As an important part of the car industry, auto stamping parts have a good prospect for industry development.
The data shows that in 2021, China's car ownership will be 302 million, with a year-on-year growth of 7.5%; The output of automobiles was 26.082 million, up 3.4% year on year; The sales volume of automobiles was 26.275 million, up 3.8% year on year. At the beginning of 2022, due to the multiple distribution of the epidemic and other factors, the production and sales of automobiles have declined. Then in June, with the effectiveness of epidemic prevention and control and the effect of consumption promotion policies, China's automobile production fully recovered to the normal level, and the consumer market recovered rapidly. Data shows that from January to April 2022, China's auto production and sales will reach 7.690 million and 7.691 million respectively, down 10.5% and 12.1% year on year respectively. From January to June 2022, the production and sales of automobiles in China will reach 12.117 million and 12.057 million, down 3.7% and 6.6% year on year, respectively, 5.9 percentage points and 5.6 percentage points lower than that from January to May.
Data source: Research Report on Development Status and Investment Strategy of China's Automobile Stamping Industry (2022-2029)
2. New energy vehicle market
In recent years, thanks to the continuous policy support of the state, China's new energy vehicles have made continuous progress in technology, significantly improved product performance, and ranked first in the world in terms of production and sales scale for six consecutive years. The data shows that in 2021, the output of new energy vehicles in China will be 3.545 million and the sales volume will be 3.521 million. From January to June 2022, the production and sales of new energy vehicles in China will reach 2.661 million and 2.60 million respectively, with a year-on-year growth of 1.2 times and a market penetration rate of 21.6%.
Data source: Research Report on Development Status and Investment Strategy of China's Automobile Stamping Industry (2022-2029)
The rapid development of new energy vehicles is driving the development of vehicle lightweight. According to the released Technical Roadmap for Energy Saving and New Energy Vehicles, by 2030, the weight reduction rate of the whole vehicle will reach 35%, the aluminum consumption will exceed 350kg, and the magnesium consumption will reach 45kg. High strength steel and aluminum alloy castings generally need die-casting, and die-casting process is an important means to realize automobile lightweight.
Therefore, the rapid penetration of new energy vehicles is also increasing the demand for stamping parts. For example, compared with traditional models, new energy vehicles are on the one hand an active practitioner of body lightweight, on the other hand, because of the new energy power system model, they have brought incremental growth to the industrial chain. At present, the demand for stamping parts in the new energy vehicle industry chain is mainly concentrated in three aspects: automobile body structural parts, power battery structural parts, and charging pile chassis structural parts. In terms of auto body structural parts, lightweight is more about the requirements of product material replacement, technology update and iteration, replacing the original traditional steel sheet stamping parts with aluminum alloy/high-strength steel stamping parts.
Source: Research Report on Development Status and Investment Strategy of China's Automobile Stamping Industry (2022-2029)
3、 Market competition
Benefiting from the favorable market, capital has successively entered the market in recent years. Up to now, there are many players in China's automobile stamping parts market, and the competition pattern is relatively scattered. The competitiveness of domestic brands needs to be further improved. It is expected that in the future, large manufacturers can use their scale effect and technical advantages to gradually improve product yield and production efficiency to reduce costs, and market concentration will continue to increase.
At present, China's automobile stamping parts market enterprises are mainly divided into four echelons. The first echelon is dominated by joint ventures of foreign auto giants in China. The enterprises in this echelon have advanced technology and stable downstream demand; The second echelon is a large domestic private s
