Compared with the vehicle companies at the forefront, parts manufacturers in the supply chain are often less likely to be noticed. However, in the past two years, the shortage of chips and the rise in the price of raw materials such as lithium and nickel have made laymen see that the original supply chain is really important. Although the automaker is the core of the entire industrial chain, once the supply chain has a problem, the automaker will have to suffer.
Therefore, compared with the hard work of vehicle companies to build and sell cars, parts manufacturers can make a lot of money safely and safely. Like the domestic Ningde era, the market value exceeded one trillion yuan, and the revenue in 2021 was 73.362 billion yuan, equivalent to 10.6 billion euros. However, compared with the following 10 of the world's most profitable auto parts companies, the revenue of the Ningde era is only pediatric.
No.1 Robert Bosch
Even if you don't know what Bosch is made of, you should have heard of Bosch's name. As a nuclear-powered aircraft carrier in the global auto parts industry, there may not be a single vehicle manufacturer that does not use Bosch products, especially Bosch's ESP system.
Bosch is the only automotive component manufacturer in the world capable of developing and manufacturing chips on a large scale, and the Bosch Group has the world's largest market share of 22% in the field of automotive sensor chips. Bosch's flagship products such as sensors, controllers, alternators, ESP installations and safety systems are standard in almost the entire automotive industry.
Bosch Automotive & Intelligent Mobility generated sales of 45.4 billion euros in 2021, an increase of 7.5% year-on-year, and the Group's EBIT margin was 4.1%. What is the concept of 45.4 billion euros, for example: Audi's automotive division has only completed 45.5 billion euros in revenue after delivering 1.86 million complete vehicles and more than 700,000 powertrains.
The revenue of a parts manufacturing company can be comparable to that of a luxury brand that sells nearly 2 million units a year, and Bosch can be said to be quite powerful.
No.2 DENSO Denso
The Denso Group originated from Toyota's electrical parts division and became Toyota's core supplier after independence, as well as Japan's largest auto parts manufacturer. Today, DENSO has more than 200 sites in more than 30 countries and regions around the world, with 140,000 employees.
Denso Group's natural annual sales in 2021 are equivalent to 40.3 billion euros (5.2 trillion yen), and the performance is almost directly comparable to Bosch. Denso's pre-tax operating margin was 7.4%, higher than Bosch's. This is due to Denso's lean production method, which has been inherited from Toyota. This also makes Denso a world-class supplier second only to Bosch.
Denso's traditional products include electric power steering, wipers, electronic brakes, etc., most of which are supplied to Toyota. In recent years, DENSO has also begun to dabble in electric drives, motors and battery pack PACK, lidar, millimeter wave radar, cameras, autonomous driving controllers and other products.
At the beginning of this month, Denso invested 57 billion yen to become TSMC's third largest shareholder, seeking future dominance in electrification and intelligence.
No.3 ZF Friedrichshafen AG ZF
The most familiar to ZF is the gearbox. It is one of the most important professional manufacturers of transmission system products in the world today. But in fact, in addition to the field of transmission, ZF also has a wide range of products in autonomous driving and commercial vehicle chassis.
For example, 4D full-range radar, 21st generation mid-range radar, the next generation ADAS central controller Pro-AI, and a series of commercial vehicle products including chassis, brakes, suspension, transmissions, transmissions (including electric drives), etc.
ZF Group generated sales of 38.3 billion euros in 2021, of which automotive-related revenue was 35.1 billion euros, an increase of 17.5% year-on-year. In 2022, the Group's sales are expected to exceed 40 billion euros for the first time, which will compete with Denso, the world's second-ranked country.
No.4 Magna Magna
The multinational giant, which specializes in body parts, seats, interiors, chassis and powertrains, had sales of US$36.2 billion (31.5 billion euros) in 2021, up 11% from the same period, and adjusted EBIT margin was 5.7%, up 0.6 percentage points year-on-year.
After electrification became a trend, Magna also began to vigorously develop autonomous driving and electric drivetrains.
Magna is also one of the very few component manufacturers involved in the vehicle business. Magna has the ability to design and develop complete vehicles, but also can oem manufacturing. Polar Fox is a platform jointly built by BAIC and Magna, and the famous Steyr heavy truck is also a brand belonging to Magna.
No.5 Hyundai MOBIS Hyundai Mobis
Similar to the relationship between Denso and Toyota, Mobis is also the largest auto parts manufacturer in South Korea that grew up behind the Hyundai Group.
Mobis' business scope in the field of auto parts is breathtaking, including electric drive, lighting, automatic driving, internet of vehicles, airbags, brakes, chassis suspension, dashboards, etc., basically realizing the no dead angle coverage of the core components of the car.
In 2021, Mobis sales increased by 14% year-on-year to 30.9 billion euros (42 trillion won); the operating margin was 4.9%, unchanged from the previous year. Unfortunately, with the gradual loss of Korean cars in the Chinese market, Mobis's business in China has also shrunk year by year and continued to lose money.
No.6 AISIN Aisin Group
If ZF's gearbox is the first choice for luxury brands, aisin's gearbox is a popular favorite of the general public.
As the world's largest transmission manufacturer, AISIN Group's automotive-related business generated organic annual sales of 28.9 billion euros (3.8 trillion yen) in 2021, up 4.1% year-on-year. Pretax operating margin was 7%, up 6.1 percentage points from the same period.
In addition to the most famous gearboxes, Aisin's business also covers almost all the parts that make up the car.
No.7 Continental
Continental, once the world's second-largest auto parts manufacturer, seems to be a bit overwhelmed.
In 2021, Continental's sales were 33.8 billion euros, of which the sales revenue of automobile-related autonomous driving + car networking + tires was 27.2 billion euros, an increase of 5.9% over the same period. The EBIT margin for automotive-related businesses was 4.9%.
Domestic users should be most familiar with Mainland China's products should be Horse Brand Tire, which is also one of the few profitable sectors in Continental's automotive business. In many areas of software and hardware such as ADAS and intelligent cockpit, Continental is still in a continuous loss.
No.8 Valeo Group
Valeo is also a very comprehensive supplier of automotive components, not only manufacturing a wide range of parts, but also having a leading edge in many fields.
Valeo ranks first in the world in the field of electric drives (+ Valeo Siemens), ranks first in the world in the wiper system, ranks first in the world in the lighting system to suppress competitors such as Magneti Marelli, and ranks second in the world in thermal management systems.
A few ordinary users may be more familiar. Are you familiar with the 360° panoramic reversing image system? This was first developed by Valeo in 2007; Volvo, known for its safety, developed blind spot monitoring and lane departure warning;
The automatic parking of Volkswagen and Mercedes-Benz is also written by Valeo.
Valeo generated sales of 17.3 billion euros in 2021, an increase of 5% year-on-year. The operating margin was 2.6%, an increase of 6.6% over the same period.
No.9 Lear Group Lear
This may not be familiar to friends in China.
The Lear Group, an American manufacturer of automotive seats and electronic systems, has a seat share of 25% in the global market, ranking first in the world.
In terms of electrical and electronic systems, core products such as Lear Group's DC/DC converters, online chargers, battery management systems and high-voltage wiring harnesses have also appeared in large quantities on high-end brands such as BMW, Mercedes-Benz, and Tesla.
Lear's results in 2021 are very impressive: sales of 16.7 billion euros, an increase of 13% year-on-year. Adjusted operating margin was 4.3%, an increase of 0.7 percentage points.
No.10 Faurecia Faurecia
French manufacturer of seating, interiors and exhaust systems Faurecia Group generated sales of 15.6 billion euros in 2021, up 8.1% year-on-year. Operating margin of 5.5%.
Faurecia is a world-renowned supplier of automotive components, and once one in every four vehicles used spare parts produced by Faurecia. In particular, Faurecia is the industry leader in the four business areas of automotive seats, emission control technology systems, automotive interiors and exteriors.
Write at the end:
These top ten auto parts manufacturers have been behind the scenes for many years, but their earning power is no less than that of vehicle manufacturers. And among them, there are many rich and powerful people, and even have already had the ability to manufacture the whole vehicle, perhaps one day in the future, they will launch their own brand of vehicles are not known, we may wish to guess, who is the most likely? (Text/UVIS Auto Old Cannon)
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