TAIPEI, Nov. 28, 2024 /PRNewswire/ -- As the US faces a shortage in auto parts, Taiwan External Trade Development Council (TAITRA) is unveiling several case studies to illustrate how Taiwan's auto parts industry is well-positioned to further expand its role in global automotive supply chains.
Taiwan's adaptable manufacturing, high-quality accredited products, and competitive pricing have driven significant growth in its auto parts industry, with the US accounting for 56% of export value.
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Taiwan fills the gap for auto parts in the US
Apart from the chip shortage, the US and other countries are still recovering from shortages of non-electrical auto parts, causing car owners, dealerships, and repair shops to increasingly turn to aftermarket parts. This shift has driven growth in Taiwan's auto parts industry, which is mainly small and medium-sized enterprises specializing in the aftermarket segment. This recent growth is largely due to adaptable manufacturing practices, quality products accredited by multiple countries, and competitive pricing on the global stage. The US represents 56% of its auto part export value, and growth has greatly accelerated since 2022 when the largest insurer in the US expanded use of aftermarket parts.
Growing role of Taiwan in automotive supply chains
Such shifts and challenges present an opportunity for Taiwan's auto parts makers to evolve from aftermarket parts to increasingly making OEM auto parts for car brands. Taiwan's auto parts industry offers a unique combination of:
Taiwan's leading innovators in auto parts
Known for high-compatibility suspension and steering parts, Great Auto Parts stands out for its rack end component. This enhances vehicle safety with its high-tensile strength, durability, and longevity from a proprietary heat treatment, offering 4 to 8 tons of average pull strength—greater than the OEM standard of 3.5 tons.
With over 30 years of CNC machining experience, Great Auto Parts has Taiwan's first dedicated test lab for steering and suspension parts, develops over 150 new products annually, and has fully integrated production.
For bearings essential to auto parts, ISK Bearings under the JOTA Group is also a leading innovator, standing out for:
A key partner worldwide
Across its industries, Taiwan's business community has several advantages to offer:
Helping international buyers access the best of Taiwan
When searching for a supplier or partner overseas, companies often struggle with finding a suitable company that is trustworthy and reliable, and then communication can pose additional challenges. To accelerate this process and foster impactful synergies, TAITRA serves as a resource and facilitates collaborating with the island's most unique, forward-looking startups and enterprises.
The organization solves the pain points of international buyers with the following services:
To ensure buyers collaborate with high-integrity businesses, TAITRA has established real-time, borderless services through a comprehensive trade network of over 60 overseas offices in more than 40 countries worldwide, and the organization holds cooperation agreements with over 500 international trade-related sister organizations.
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