Apart from the chip shortage, the U.S. and other countries are still recovering from shortages of non-electrical auto parts
Taipei—As the U.S. faces a shortage in auto parts, the Taiwan External Trade Development Council (TAITRA) has stated that Taiwan’s auto parts industry is well-positioned to further expand its role in global automotive supply chains.
Apart from the chip shortage, the U.S. 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, products and competitive pricing on the global stage. The U.S. represents 56% of its auto part export value, and growth has greatly accelerated since 2022 when the largest insurer in the U.S. expanded use of aftermarket parts.
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