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Analysis of China's automotive wiring harness market scale and competitive landscape, lightweight is the main tone of future development

Time of issue：2021-12-28

1. Industrial chain of automotive wiring harness industry

The automobile wiring harness is the main body of the automobile circuit. , mainly composed of wires, terminals, connectors and sheaths. Automotive wiring harness products are customized products, and different vehicle manufacturers and their different models have different design schemes and quality standards.

Automobile wiring harness products belong to auto parts and are in the middle of the entire automobile industry chain. The upstream industries are copper, rubber, plastic, wire and wire, etc., and the downstream is mainly automobile manufacturers and some parts and components supporting suppliers.

2. Production and sales of automobiles and new energy vehicles in China

After the reform and opening up, China's auto industry has developed rapidly and has now become the world's largest auto producer and new car consumer market. The auto industry has also become a pillar industry in China. According to statistics, my country's automobile production and sales in 2020 will be 25.225 million and 25.311 million respectively, a year-on-year decrease of 2.0% and 1.9%, and a decrease of 5.5 percentage points and 6.3 percentage points respectively compared with the previous year.

In recent years, my country's new energy vehicle market has continuously ushered in favorable policies. In the "Suggestions of the Central Committee of the Communist Party of China on Formulating the Fourteenth Five-Year Plan for National Economic and Social Development and Long-term Goals for 2035" issued in November 2020, the development of strategic emerging industries was mentioned, among which new energy vehicles It is one of the key industries that has received attention. According to statistics, in 2020, the output of new energy vehicles in my country will reach 366,000, a year-on-year increase of 9.99%, and the sales volume will reach 1.367 million, a year-on-year increase of 13.35%.

Related report: "2021-2026 China Automotive Wiring Harness Tape Industry Development Prospect Forecast and Investment Strategy Research Report" released by Huajing Industry Research Institute

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Analysis of China's automotive wiring harness market scale and competitive landscape, lightweight is the main tone of future development

Analysis of China's automotive wiring harness market scale and competitive landscape, lightweight is the main tone of future development

The automobile wiring harness is the main body of the automobile circuit. , mainly composed of wires, terminals, connectors and sheaths. Automotive wiring harness products are customized products, and different vehicle manufacturers and their different models have different design schemes and quality standards.
The auto parts sector has set off a rising tide, and the market will be more certain next year

The auto parts sector has set off a rising tide, and the market will be more certain next year

The auto parts sector has been active repeatedly, with Huguang Co., Ltd., Junda Co., Ltd., Kabeiyi, Kaizhong Co., Ltd., Shanghai Yanpu Co., Ltd., Tianlong Co., Ltd., and Changshu Auto Decoration. Logically, the sales of new energy vehicles continued to rise this year, bringing growth to auto parts companies. In addition to the popularity of the auto market this year, next year will also be a period for domestic passenger car replacement, and auto sales will continue to grow. In addition, Tesla and other new car-making forces have brought technological innovation, creating new development opportunities for the industry chain, such as air suspension, CTC and integrated chassis technology innovation, lightweight and integrated die-casting, and 800V high-voltage system penetration rate improvement Bringing connector growth, etc.
It is expected that the demand of the automobile industry will grow steadily next year, and the penetration rate of new energy will increase rapidly

It is expected that the demand of the automobile industry will grow steadily next year, and the penetration rate of new energy will increase rapidly

Looking forward to 2022, CICC expects steady growth in industry demand, rapid increase in the penetration rate of new energy, accelerated advancement of intelligence, and industrial transformation has arrived. Under the background of major changes, car companies and even the industry chain are facing subversion and reshaping. Rapid iteration of technology and product innovation is an important starting point, and it is also the core driving force for the explosion of company performance valuation. We suggest to continue to dig deeper into the structural growth track and individual stock opportunities. The current valuation is attractive under the continued high performance growth.