Top 100 Global Automotive Parts Suppliers in 2023: CATL Enters the Top Five

On June 25th Beijing time, Automotive News released the 2023 Global Top 100 Automotive Parts Suppliers list. According to the latest ranking, the top four are still Bosch, Denso, ZF, and Magna International; Ningde Times (300750) ranks 5th and is the only Chinese company among the top 10; Modern Mobis maintains its 6th ranking unchanged; The ranking of Aisin Precision Machinery has slipped from 5th place to 7th place; Freya's ranking slipped 1 place to 8th place; Mainland Group's ranking has dropped by 1 place to 9th place; Lier maintains the 10th ranking unchanged.

As usual, Automotive News ranks suppliers based on their previous year's revenue (sales) in the automotive industry's supporting market. Therefore, the evaluation criteria for the 2023 Global Top 100 Component Suppliers list are based on the supplier's performance in 2022. When participating in the top 100 list selection, suppliers need to provide their company name, headquarters location, contact information, and relevant data. Therefore, some larger component suppliers did not make the list, perhaps because they did not submit relevant data.

List Overview: Multiple battery companies make the list, with 11 new faces appearing

With the booming development of the global electric vehicle market, the landscape of global automotive component suppliers is rapidly changing - battery manufacturers are constantly improving their rankings on the list. In addition, this is also the first time that multiple large electric vehicle battery manufacturers have been listed.

Among them, CATL ranks fifth on the list, with an expected global automotive revenue of approximately 33.5 billion US dollars in 2022, a year-on-year increase of 122.2%; Samsung SDI ranks 16th, with a global automotive revenue of approximately $15.62 billion in 2022, a year-on-year increase of 48.5%; SK On's ranking has risen significantly from 68th to 44th, with its global automotive business revenue of approximately 6.04 billion US dollars in 2022, a year-on-year increase of 125%.

Compared with the 2022 list, this year's list has a total of 11 new members, namely CATL, Anbofu, Samsung SDI, Ando, Junsheng Electronics (600699), STMicroelectronics, Ningbo Huaxiang (002048) Electronics, Nifco, Jingcheng Engineering Automotive Systems Co., Ltd., Autokiniton, and Outo, among which 4 are Chinese companies. It is worth mentioning that last year, two subsidiaries of Junsheng Electronics, Junsheng Automotive Safety Systems and Preh GmbH, ranked 44th and 92nd respectively on the list. This year, they were integrated into Junsheng Electronics and ranked 40th on the list.

13 Chinese companies are on the list

This year's list of companies comes from 16 countries, with Japanese companies still leading the way with 22 companies on the list, the same number as in 2022; 18 companies from the United States made the list, a decrease of 3 from 2022; Next is Germany, with a total of 15 companies on the list; There are a total of 13 Chinese companies on the list; There are 11 companies from South Korea on the list; There are four French companies on the list; Canada, Switzerland, and Spain each have three companies on the list; There are two companies from the UK on the list; Ireland, Austria, Brazil, Mexico, Sweden, and India each have one company shortlisted.

In terms of Chinese companies, there are a total of 13 companies on the list this year, which is 3 more than the list in 2022. The newly listed Chinese companies are CATL, Junsheng Electronics, Ningbo Huaxiang Electronics, and Jingcheng Engineering Automotive Systems Co., Ltd. Last year, 9 Chinese companies, including Yanfeng, Beijing Hainachuan, CITIC Dicastal, Dechang Electric, Minsheng Group, Novo Automotive Systems, Desai SV (002920), Ningbo Top Group (601689), and Anhui Zhongding Seal Co., Ltd., continued to make the list this year.

Top 10 Winners

The times make heroes. After every change, there is always a group of heroic enterprises emerging, and their secret to success lies in keeping up with industry trends and making predictions and plans. Last year, against the backdrop of a booming electrification wave and a global chip shortage, the major winners in the global automotive parts supplier industry were battery manufacturers and microchip manufacturers, as well as some related enterprises, as follows:

Top 10 losers

Last year, benefiting from the increase in global automobile production, the revenue of most automobile parts suppliers increased, but there were still some companies whose revenue declined. It is worth noting that six of the top ten losers in the chart are from Japan.

Summary:

This year's Top 100 Parts list reflects the rapid changes in the automotive supply chain in the era of electrification. Both new forces and traditional suppliers are competing for the rapidly growing electric vehicle market, and competition is intensifying. As battery manufacturers move to the forefront of the electric vehicle supply chain, traditional component companies must invest in new technologies in a timely manner in order to succeed as car manufacturers search for components for new electric vehicle models, and suppliers who are just starting to consider investing in electric vehicles have "missed the opportunity".