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Demand for aftermarket parts and electric cars increases; Taiwan's auto parts exports grow

2022-08-14
Ministry of Economic Affairs
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Demand for aftermarket parts and electric cars increases; Taiwan's auto parts exports grow
Demand for aftermarket parts and electric cars increases; Taiwan's auto parts exports grow

1.Auto parts exports continue to grow: Taiwan's auto parts industry is dominated by exports and aftermarket. In addition, from 2021 to the first half of 2022, the rise of electric vehicles has driven the demand for electronic automotive parts, which grew 26.3%, while vehicle accessory exports grew 46.3%.

2.U.S. and Europe are the main export markets: In 2021, these two markets accounted for 68.4% of Taiwan's total auto parts exports, which rose to 77.5% in first half of 2022. Of these two, the U.S. is the largest export market of auto parts.

3.The booming development of electric vehicles creates opportunities for the auto parts industry: While continuing to cultivate the traditional AM market, the auto parts industry is also gradually transforming in line with the global trend of net zero carbon emissions. Integrating our ICT advantages with smart and electronic auto parts will inject more export momentum and create more opportunities for related auto parts industries.

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