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San Francisco, CA (PRWEB) December 12, 2012
Revenue for the Auto Parts Stores industry in China is estimated at $31.4 billion in 2012, with annualized growth of 15.7% over the past five years, says IBISWorld. Strong growth in the Automobile Manufacturing industry has boosted the industry's development since 2009.
The combined market share the top four companies operating in this industry Jiangsu Gaoli Group, Shanghai Datang Auto Parts Chain, Lamba Auto Parts Chain and Shanghai Haimeng Auto Parts Chain Stores is about one-tenth of industry revenue. This low concentration level is mainly due to the existence of a large number of small automotive parts retailers, most of which are located in large automotive parts trade centers. Other business models for auto parts stores in China include independent stores, auto parts chain stores, auto parts supermarkets and joint purchase alliances. Industry concentration is expected to increase steadily in the future, with the expansion of chain operations and merger activity.
New automobiles in major cities will enter the secondhand automobile market in the next few years and aging automobile stock will result in increased demand for auto parts in the future across China. Further, the growing do-it-yourself (DIY) market will substantially increase demand for auto parts stores in China, says IBISWorld.