Taiwan's auto parts industry value could reach NTD$222.79 billion next year, a 4.8% growth compared to 2020, according to forecasts from ITRI Industrial Economics and Knowledge Center (IEK). IEK advises Taiwanese firms to maintain their market reach in the U.S. and increase expansion into emerging markets.
IEK Intelligent Vehicle System Research Department Senior Researcher James Hsiao named several factors that would be advantageous for Taiwan's auto parts industry's performance next year. The first being the release of COVID-19 vaccines, and the second being a steadier U.S. exchange rate, which helps firms price their orders. He was speaking at an IEK-hosted seminar on the future of smart vehicles.
Hsiao pointed out that yearly industry value performances will depend on firms' production volume and whether firms have developed their reach in emerging markets.
Hsiao said, looking at this year's auto parts industry trends, the pandemic crisis has upended industry expectations and forced firms to observe a more conservative approach. The peak season in the aftermarket sector is concentrated in Q4 in the northern hemisphere, he says. However, the outbreak worsening in the U.S. and Japan has also led to the depreciation of the U.S. dollar. Hsiao estimates these factors would slash this year's auto parts industry value by 3.8%.
The outlook still appears optimistic, as Taiwan's AM auto parts are concentrated in after-sales repair or maintenance. The U.S. automotive market's performance will continue to bolster Taiwan's outbound auto parts as a result; forecasts indicate outbound value from Taiwan could reach NTD$178.466 billion this year, a 5.2% increase compared to 2019. Among that, Taiwan's exports to the U.S. could see NTD$87.627 billion, approximately 49.1% growth.
Auto parts doing well in the U.S. include collision parts, such as bumpers, rearview mirrors, car lights (car headlights and taillights), door handles, and water tank caps and guards. Taiwanese firms' experiences in mold production, injection molding, and obtaining certification has given them a competitive edge.
While the U.S. remains to be Taiwan's biggest export country, and in the short-term, current American policies remain in Taiwan's favor, IEK suggests firms follow the government's policy in diversifying its market reach into Southeast Asia and South Asia.
Taiwan's machinery industry is seeing signs of recovery, said Taiwan Association of Machinery Industry (TAMI) Chairman Alex Ko, as outbound orders finally saw positive growth after six consecutive months of decline. The sector began struggling in March as pandemic restrictions came into effect globally; Ko pointed out outbound orders started to rise in September, suggesting a tentative rebound...
Demand for electronic parts, PCBs from 5G, IoT, and vehicle applications are strengthening outbound growth in the first nine months of 2020, despite a pandemic outbreak that has crippled countries' economies. Outbound electronic parts reported strong performance, increasing 22.3% in the first nine months of 2020. A strong contender in second place is the PCB field, which also saw a 5.3%-export...
As one of the harder-hit industries in Taiwan, the ITRI Industrial Economics and Knowledge Center predicts next year's machine tools to make a rebound with an annual 8% growth. The center also named growth from electric vehicle sales as a significant contributor to machine tools and models' rising demand in 2025. The center's manager Harrison Hsiung made the remarks at the 2021 IEK Machiner...
The first round of 2020 Taiwan Excellence Award selections, announced by the Ministry of Economic Affairs and Taiwan External Trade Development Council, saw 31.6% of ICT products advancing, followed by machinery and parts at 19.2%, furniture equipment hardware building materials ranked at third with 12.9%. The award committee will continue selecting the gold and silver award winners, with the ...
A majority of Taiwan's CEO expressed optimism regarding the economy, citing Taiwan's favorable pandemic response as the primary factor, revealed a survey conducted by KPMG in Taiwan. The survey suggested that CEOs felt the business models had borne innovative results in the past few years. The 56% of CEO's optimism is much higher than the regional average of Asia Pacific CEOs (47%) and global ...
Taiwan is slated to surpass forecasts in terms of economic growth for Q3. The Directorate General of Budget, Accounting, and Statistics (DGBAS) is scheduled to release Q3 growth figures on Oct. 30. The directorate general forecasted Q3 growth at 2.01%, though with Taiwan's current positive pandemic response, industry analysts expect the island's economic performance to perform better than expe...
Harley-Davidson motorcycle parts, restoration parts for classic cars, auto parts and accessories, hardware parts, and all kinds of high-quality die casting products.
Oct 28, 2020Founded in 1978, Tair Wang Enterprise Co, LTD. is a zinc die-casting manufacturer with ISO 9001 quality certified. With the excellent reputation as a professional OEM manufacturer, Tair Wang has actively expanded its businesses abroad in the past 15 years by providing high-quality products and services for the clients. Currently, Tair Wang provides the parts for the Harley-Davidson motorcycles,...
As one of Taiwan’s most competitive industries, the hand tool industry is built upon the efforts of small-and-medium enterprises (SMEs), which has elevated the sector into the top three export countries globally throughout the years. Most SMEs in the industry has been in business for over 30 years. Leveraging Taiwan’s hand tools’ success is in its location, as the island houses the entire product...
Eyes Stake in 5G Industry with Impedance Analyzer 6632 With greater demand for electronics and manufacturers' need for more precise and diverse applications than before, testing equipment that ensures the reliability, safety, and quality of parts are in hot demand. Founded in 1993, Microtest Corp. is a professional maker and developer of high precision and automatic testing and measurement ins...
■Yang Feng-Chun In a bid to assist manufacturers in Changhua County to expand their market reach overseas against severe competition in the globalized market, Changhua County Government has been an active player in pushing for a makeover and innovation of its local small and medium-sized enterprises. This is done in hopes of establishing stronger connection with international markets. An ex...
Founded in 1980, Paul Master Auto Parts Co. is headquartered in Taiwan, a professional manufacturer of chassis and engines parts for passenger cars, trucks, and industrial trucks including forklifts. General Manager Terry Liang said the company has its own professional design department, which provides customized products and specifications for global buyers, including automobile steering and...
Taiwan First brakes Technology Co., Ltd.
Sep 04, 2019Nan Hoang Traffic Instrument Co., Ltd is one of the major manufacturers of automobile friction materials in Taiwan and globally. Chairman Austin Cheng has implemented the double-arrow strategy this year - own brand of “YangPo” is adopted to focus on global channels while the “NHC brand focuses on improving market shares in global markets, such as Europe, America, Asia, Australia, and the Middle E...
The first ever physical-virtual hybrid Taipei AMPA series show wrapped up this Saturday (October 24) after four days of exhibition and events under the global automotive spotlight. Over 6,000 buyers attended the physical show, including Tesla, Toyota, Ford, and other major auto brands sending representatives to secure deals with exhibitors, and over 3,700 total viewers tuned in for forums, new pr...
As the only hardware and hand tools trade show taking place this year globally, the three-day Taiwan Hardware Show (THS) will soon kick off on 13th October at the Taichung International Exhibition Center. Positive industry outlook for the post COVID-19 era has led to over 370 companies signing up as exhibitors, in a bid to gear up for a long-awaited economic recovery and plan the next strategic m...
Driven by market prospects, domestic and international exhibitors actively prepare International Fastener Show China in Shanghai on November 3-5, 2020. Suffering from global epidemic and quarantine nearly half year, exhibitions are hot and popular in mainland China. Thousands of visitors join and visit the exhibitions with inquiries, and are eager to know new technology. Domestic and inter...
