When talking about an industry that has dominated the United States and the world over the past 50 years and has spread to every corner of the globe, and you’d think immediately of the automobile industry.
Perhaps no industry is under greater pressure to change, but this is a case of creative change and destruction. Auto and auto parts companies who embrace change will live to see another century.
The International Trade Administration’s (ITA) 58-page “2016 Top Markets Report: Automotive Parts” is a market assessment tool for use by US exporters. Parts include:
- bodies and parts
- chassis and drivetrain parts
- electrical and electric components (fans, compressors, storage batteries, signaling equipment, etc.)
- engines and parts
- miscellaneous parts (brake fluid, antifreeze, lifting machinery, etc.)
- automotive tires and parts
The report provides country case studies for US exporters who are looking for opportunities abroad. And the opportunities are as diverse as they are challenging and potentially lucrative:
- Saudi Arabia
The Emergence of New Technologies in the Automobile Parts Industry
One just needs to know what Elon Musk has been up to at Tesla to see that robotic manufacturing is more mainstream than ever before. New technologies include new advanced drivetrains, engines, and vehicle construction.There are also new fuels and the emergence of electric vehicles as many seek to meet more stringent carbon emissions regulations.
With all this, the ITA sees the following areas as top opportunities for US exporters:
- Weight reduction technologies
- Advanced engine control technologies
- Advanced transmissions
- Vehicle accessory electrification technologies
- Advanced batteries and battery inputs
- Advanced electronics
The following video shows “Canada’s Largest Junkyard with Free Auto Parts.”