Development prospect of automobile inspection tool industry

In recent years, the vigorous development of China's automobile industry has driven the emerging automobile production supporting industry of automobile inspection fixture into a stable growth period, and the future development of automobile inspection fixture market is also very promising. It is estimated that the market demand of China's automobile inspection tool industry will reach about 12.3 billion yuan by 2021. The main reasons are as follows:

(1) the upgrading speed of passenger car models is accelerating

The development of the automobile inspection tool industry is very close to the development of the downstream automobile industry, and the upgrading speed of the downstream automobile is the main driving force for the development of the automobile inspection tool industry. Take the U.S. domestic market as an example, the launch and forecast of new models in the U.S. market from 1997 to 2020 are as follows: unit: Models
 

Data source: collation of public information

The United States, as one of the countries with the fastest car model updating in the world, has an average of 39 new cars launched every year from 2013 to 2016, and it is expected that there will be an average of 58 new cars launched every year from 2017 to 2020. At home, China's automobile manufacturers are more than the United States, and the competition is more intense. In the past five years, the domestic market has launched an average of about 150 brand-new models every year. In addition to the models that are changed and upgraded every year, nearly 500 new models are launched every year.

Update trend of vehicle types by category from 2012 to 2017 (unit: model)
 

Since 2012, from the perspective of new models, SUV models have shown an explosive growth trend, and domestic independent automobile brand manufacturers have entered the ranks of SUV model production. Since the two-child policy was fully liberalized, many automobile manufacturers have focused on "7-seat" (SUV, MPV), family station wagon and other models. From this, we can see that the speed of model updating is also accelerating with the change of consumer demand. Generally speaking, the change of models is also consistent with the change cycle of consumers, which is about 5 to 8 years. In the world, the renewal cycle of mainstream models is 3-7 years. The renewal time of American and German models is relatively long, with an average of 6.6 years, while that of Japanese and Korean models is relatively short, with an average of 3-4 years. However, as the younger generation of consumers, especially the young female consumers, become the mainstream of the automobile consumer market, they will more frequently ask for model updating. In order to meet the needs of customers, automobile manufacturers must reduce the development cost, shorten the development cycle, improve product quality, and constantly increase product varieties to meet different needs of consumers. From the perspective of domestic automobile main engine plants, there are more than 100 domestic enterprises that have obtained automobile production license, including more than 10 backbone enterprises, such as joint venture brands of SAIC Group, FAW Group, Dongfeng Group, Chang'an group, BAIC group, GAC group, etc. According to the average number of well-known brands under each group, each automobile factory produces 1-2 new models every year, plus dozens of domestic automobile brands, at least 150 new models will appear every year. In addition, a car is usually upgraded slightly two or three years after it is launched to improve the user experience and maintain the competitiveness of the product. For example, small-scale changes of bumper, grille, lamp and other parts also need automobile inspection tools to test. It can be seen that the rapid upgrading of automobile models and the continuous upgrading demand of new cars after they come into the market have laid a huge space for the future development of the automobile inspection tool market


② New energy vehicles

Since 2014, the sales growth rate of new energy vehicles in China has exceeded 300% for two consecutive years, showing an explosive growth trend; in 2016, the total sales of new energy vehicles reached 507000, nearly six times higher than that in 2014. In 2017, the total sales volume of new energy vehicles reached 777000, an increase of 53.3% over the previous year, and it is predicted that the sales volume in 2018 will exceed 8 million. In order to promote green consumption, China has introduced a series of preferential policies to support the purchase of new energy vehicles, such as exemption of vehicle purchase tax and vehicle and vessel tax for the purchase of qualified new energy vehicles, one-time subsidy for the purchase of new energy vehicles, etc. In May 2015, the State Council issued the "made in China 2025" outline, which listed new energy vehicles as one of the ten key breakthrough development areas; in April 2017, the three ministries and commissions of the state issued the "medium and long term development plan of automobile industry", which proposed to increase the promotion and application of new energy vehicles, and gradually increase the proportion of new energy vehicles in public service. In March 2018, the 2018 State Council government work report proposed to promote the development of integrated circuits, the fifth generation mobile communications, aircraft engines, new energy vehicles, new materials and other industries, and create a "made in China 2025" demonstration zone. In the long run, there is a vast space for the development of new energy vehicles in China.

③ The application market potential of other inspection tools is huge

In addition to the above-mentioned passenger car market, inspection tools can also be used in aircraft manufacturing, military equipment manufacturing, high-end equipment manufacturing, truck manufacturing, etc. On the one hand, the development of high-end equipment manufacturing needs the synchronous development of the inspection tool industry. For example, aircraft manufacturing, the current domestic passenger aircraft manufacturing technology is not mature enough, most of the aircraft parts are not produced in China, so the aircraft parts inspection tool in the domestic market is still in the blank stage. On the other hand, the improvement of the quality of the existing equipment depends on the development of the inspection tool industry. Taking trucks as an example, there is a big gap between the quality of domestic trucks and that of foreign trucks in terms of appearance design, safety and comfort. The reason for this gap is that in addition to some of the core production technology is not mastered, the main engine plants of domestic truck production use automobile inspection tools at a low level, which makes it difficult to control the precision of domestic truck production. With the continuous expansion of the application categories of domestic inspection tools, the precision of assembly of inspection tools will be more widely used in China's truck and other equipment market, which will help to improve the quality of China's equipment manufacturing products, and also bring huge market opportunities for the inspection tool industry. From the perspective of national policy, the "made in China 2025" plan released in May 2015 has clearly defined the goal of becoming a manufacturing power; the "standardization and quality improvement plan for equipment manufacturing industry" released in August 2016 is mainly for docking with the "made in China 2025", which points out that by 2020, the "made in China 2025" plan will become a manufacturing power In 2005, the industrial foundation, intelligent manufacturing, green manufacturing and other standard systems were basically improved