With the rapid development of the automobile industry, the auto accessories market in China is booming. At the annual meeting of the China Automobile Dealers Association, Chunbo LI, Executive Director of the Research Department at CITIC Securities, estimated that the value of the Chinese aftermarket would reach 1.5 trillion in the near future.
Many well-known international brands such as Bosch, 3M, Yellow Hat, and Wurth among others have accelerated the development of Chinese market. In this way, they have positioned China as the main market for overseas businesses to explore. At present, Bosch has developed 1,000 automotive service stations, and Japan’s largest dealer of auto accessories intends to expand the number of franchises to 500 by the year of 2015. 3M would like to explore 8,000 products including 700 car care companies, 6,000 auto garages as well as 4S shops, while Wurth also aims to set up a network in more than 100 cities in China with profits reaching RMB 500 million. Thus, many auto accessories enterprises have turned their eyes to the Chinese market, and all industry eyes are on the CIAACE 2012 to be held in Beijing.
The CIAACE 2012 is a stellar platform to showcase products and techniques with hundreds of participating overseas companies from Europe, the Americas, South Africa, and East Asia; all have decided to expand their markets to China through the CIAACE. Furthermore, Japanese, Korean and Taiwanese businesses covering 3,000 products including auto electronics, car care products, auto cushions, tuning and outdoor supplies will be included in the groups. It is easier to find business opportunities for overseas visitors by competing with well-known domestic companies like Coagent Steel Mate, OWA, Modifier, Skyworth, Newsmy, Cnlight, Biaobang, and Botny among others.
In sum, the CIAACE 2012 is becoming the foremost platform to connect domestic enterprises with overseas ones. The expo also enables the transfer of domestic products abroad in addition to introducing international brands as well as techniques to the Chinese market.