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 Machine Tool and Accessory Builders' Association Hsu Wen-hsien said on Monday that prices for international steel, nickel, copper, and other raw materials have soared, coupled with the uncertainty of the Russian-Ukrainian war, domestic machine tool factories' have seen a recent decrease of orders around 20%. The association has decided to adjust the export forecast of machine tools this ye...
Auto parts and components were affected by the COVID-prompted lockdowns in various Chinese cities, leading to expected losses in revenue and profit in the first quarter. However, after May, various regions have gradually reopened and resumed work, and auto factories have stepped up the pace of delivering orders. Laster Tech Group and Yingli-KY are among the suppliers optimistic about the performa...
Measuring instrument maker Chroma Corporation reported significant growth due to the company's increased investment in electric vehicle applications at its earnings call and estimated that combined revenue trends for turnkey applications could remake company history in the future. Chroma Corp. said that 54% of Q1 revenue came from measuring instruments and automated inspection equipment, follo...
Hotai Group has been actively developing clean energy solutions, with its subsidiary He Jun Energy as a primary focus. The capacity of solar energy installations this year is expected to reach 50,000KW, and the profit and loss are expected to be even in the second year. With carbon rights becoming the future trend, the development of the solar energy business has become at the forefront for the a...
With chip shortages still hampering the global automotive sector, major car manufacturers expect a shortage of cars, leading to significantly decreasing imported numbers. The total sales volume in the market is currently at 35,200 units, an annual decrease of 7%. The TOYOTA and LEXUS brands under Hotai Motors have reached 12,500 units, the MITSUBISHI and CMC brands of China Motor Corporation ...
The new regulations on shipping carbon emissions are set to come into effect next year, and with the number of global container ships over 20 years old will reach 8.2%, experts warn there will be a wave of elimination of old ships starting as early as this year. However, the supply and production of these ships have been hampered by China's strict zero-COVID policy and the Russian-Ukrainian wa...
OVERVIEW The spread of the novel coronavirus (SARS-CoV-2) has made a deep impact across all sectors. As health authorities and scientists around the world work towards identifying solutions to bring the situation under control, demand for Food Packaging solution has increased dramatically as consumers attempted to stay away from public gatherings. This has led to let food producers requiring m...
Founded in 1978, Tair Wang Enterprise Co., Ltd. is a zinc die-casting manufacturer with ISO 9001 quality certifications. With an excellent reputation among domestic and global buyers as a professional OEM manufacturer, Tair Wang has actively expanded its businesses abroad in the past decade by providing high-quality products and services for its clients. General Manager Lawrence Lee said that...
Air spray guns, air paint guns, airless spray gun and related accessories
Apr 06, 2022After over 20 years of devotion to developing and making air spray guns and related accessories, ALTA-PRO Co., Ltd. is well recognized as a globally prestigious supplier in Taiwan, offering HP series spray guns, HVLP (high volume low pressure) spray guns, LVLP (low volume low pressure) spray guns, airless spray guns, automatic guns, dry blow guns & air brushes, and related accessories as nozzles,...
Taiwan First brakes Technology Co., Ltd.
Mar 04, 2021Nan 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 COVID-19 pandemic has accelerated the industries' timeline for implementing digital transformation. However, the how's and what's of applying new technologies and improving the added value to existing products and services can be daunting. Three professors from the National Taiwan University College of Electrical Engineering and Computer Science founded the startup company "OmniEyes," basi...
■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...
After the opening of the Intermach-Subcon Thailand 2022 Machinery Technology and Subcontracting Industry Exhibition For the procurement of leading ASEAN parts held at the Bangkok International Trade and Exhibition Centre (BITEC) today (18 May 2022), Ms. Duangjai Asawachintachit,, Secretary General of the Thailand Board of Investment (BOI), stated that the board recognises the importance of develo...
In view of the evolving pandemic situation in China, the Government has escalated a number of COVID-19 prevention and control measures. To align with these efforts, Messe Frankfurt is rescheduling two of its Mobility & Logistics fairs in the country. CAPAS Chengdu will move to 18 – 20 August 2022, instead of the original timeslot (19 – 21 May 2022). In addition, the Auto Maintenance and Repair...
The 4-day 2022 Taipei AMPA and Autotronics Taipei physical show closed out on a high note, with visitors coming from the automotive industry, auto electronics department, as well as other branches in connection with the automobile market. Nearly 600 exhibitors came to the physical show, and over 1300 booths were occupied. Combined with nearly 190 exhibitors on the online show AMPA DigitalGo, t...
