Automechanika Ho Chi Minh City 2024 was grandly held from June 20 to 22, 024 at Halls A and B of Saigon Exhibition and Convention Center (SECC) in Vietnam.
With 482 exhibitors from 23 countries and regions and a total exhibition area of 22,600 square meters, and more than 200 Chinese exhibitors, the exhibition promoted communication and cooperation in the industry.
Exhibitors came from the United Arab Emirates, Brazil, Poland, Germany, Georgia, Korea, Canada, Malaysia, the United States, Peru, Japan, Thailand, Turkey, Spain, Singapore, Italy, India, Indonesia, the United Kingdom, Vietnam, China, Taiwan and Hong Kong. Among them, this year’s show welcomes exhibitors from Brazil, Georgia and Peru for the first time.
Vietnam is located in the eastern part of the Central South Peninsula, bordering China in the north, Laos and Cambodia in the west, and facing the South China Sea in the east and south, with a land area of 329,556 square kilometers. Vietnam’s automobile industry is developing well.
Vietnam is the only country in Asia that has signed a free trade agreement with the European Union, with huge market potential. Vietnam is also a signatory to the TPP, which has resulted in significant tariff reductions, greatly contributing to the development of the country’s automotive industry. In addition, Vietnam is the second most favored country for foreign direct investment in the Asia-Pacific region.
Market size: Vietnam’s auto parts market size has shown a growing trend in the past few years. With the increase in car ownership and the development of the automobile manufacturing industry in Vietnam, the demand for auto parts products is also rising gradually.
Competitive landscape of the market: Vietnam’s auto parts market is highly competitive with a large number of suppliers. Major competitors in the market include international auto parts brands, local auto parts manufacturers and distributors. International brands usually have high reputation and quality assurance, but the price is relatively high. Local suppliers, on the other hand, have certain advantages in terms of price and localized services.
Electrification and Intelligence: As the global automotive industry moves towards electrification and intelligence, Vietnam’s auto parts market will gradually follow this trend. Demand for electric vehicle parts and intelligent driving systems is likely to increase.
Aftermarket growth: Vietnam has a large number of cars and aftermarket demand continues to grow. Auto parts suppliers will focus on providing high-quality repair and maintenance parts to meet consumer demand.
Rise of online sales: With the development of e-commerce, more and more auto parts consumers are purchasing auto parts products through online channels. Auto parts suppliers need to strengthen online sales and marketing to adapt to this trend.
Government support: The Vietnamese government is committed to promoting the development of the automotive industry and is likely to provide relevant policies and support, creating opportunities for the auto parts market.
Infrastructure development: Vietnam is increasing investment in infrastructure development, which will drive demand for commercial and construction vehicles, providing growth opportunities for the auto parts market.
Regional market expansion: Vietnam, as the economic center of Southeast Asia, can radiate the market of neighboring countries. Auto parts suppliers have the opportunity to expand their business in the regional market.
In order to seize the market opportunity, we, Honesty Company, also arranged to participate in this exhibition to provide customers with professional product introduction in engine parts, connecting rods, cylinder liners, camshafts, and other automotive parts, and to learn about the most competitive products in the current market. This participation far exceeded our expectations. And met a lot of potential customers.
