In 2023, the import value of parts and accessories for motor vehicles to China stood at 34.372 billion USD. The forecast data reveals steady growth in the upcoming years, with the value projected to increase to 35.477 billion USD in 2024, 36.604 billion USD in 2025, 37.709 billion USD in 2026, 38.791 billion USD in 2027, and reaching 39.852 billion USD by 2028. This represents a year-on-year increase of approximately 3.0% to 3.1%. Over the five-year forecast period, the compounded annual growth rate (CAGR) is around 3.1%.
Future trends to watch for include advancements in electric vehicle technology and the evolution of autonomous driving which could significantly impact the demand for specific parts and accessories. Trade policies and geopolitical factors may also influence import dynamics, alongside shifts in consumer preferences towards more sustainable and efficient vehicles.
