Chan Ye Xin Xi Wang·2025-11-06 01:32Core Viewpoint - The rapid growth of the new energy vehicle (NEV) market is driving the demand for aluminum alloy components in the automotive industry, leading to significant market expansion in China's aluminum alloy automotive parts sector, projected to reach 697.84 billion yuan in 2024, a year-on-year increase of 22.46% [1][8]. Market Overview - Aluminum alloy automotive parts are defined as components made from aluminum-based alloys, which are processed through various methods to achieve lightweight, high strength, corrosion resistance, and recyclability, contributing to vehicle weight reduction and energy efficiency [2]. - The application of aluminum alloy parts spans the entire vehicle, categorized into powertrain, chassis, body, electronic systems, and decorative components [2]. Market Policies - The Chinese government has implemented various policies to support the development of the automotive parts industry, including initiatives aimed at enhancing manufacturing reliability and promoting high-quality development in the NEV sector [2]. Industry Chain - The aluminum alloy automotive parts industry consists of upstream suppliers of aluminum materials and production equipment, midstream manufacturers of aluminum parts, and downstream automotive manufacturers and aftermarket services [4]. Market Growth - China's automotive market has seen substantial growth, with production and sales reaching 21.05 million and 21.12 million vehicles respectively from January to August 2025, marking a year-on-year increase of 12.7% and 12.6% [6]. Competitive Landscape - The aluminum alloy automotive parts market in China is characterized by a large number of companies, leading to a fragmented market structure. Key players include He Sheng Co., Ltd., Xusheng Group, and Wan Feng Ao Wei, among others [9][10]. - In 2024, Lichung Group led the industry with a revenue of 27.25 billion yuan, followed by Top Group and Minshi Group with revenues of 26.6 billion yuan and 23.15 billion yuan respectively [10]. Company Analysis - Lichung Group specializes in lightweight aluminum alloy products and has a complete industrial chain, with 54.5% of its revenue coming from casting aluminum alloys [11]. - Wan Feng Ao Wei focuses on lightweight metal components, achieving 80.81% of its revenue from automotive lightweight parts, totaling 6.056 billion yuan in the first half of 2025 [11]. Development Trends - The industry is expected to adopt smart factory and digital twin technologies, enhancing production efficiency and quality control. The use of recycled aluminum is anticipated to rise, aligning with sustainability goals and reducing production costs [12].