Among the World's Top 100 Auto Parts Companies, 8 Are Domestic Firms... Hyundai Mobis Ranks 7th

Top 100 Global Auto Parts Suppliers: Number of Korean Companies Increases by 2 in One Year
Hyundai Mobis Ranks 7th & 37th... Hanon and Mando Also in the 'Top 50'

Hyundai Mobis Yongin Technical Research Center (Photo by Hyundai Mobis) [Image source=Yonhap News]

[Asia Economy Reporter Kim Ji-hee] Eight domestic companies made the list of the world's top 100 automotive parts suppliers. Compared to a year ago, two additional companies entered the rankings.

According to the industry on the 1st, eight Korean companies, including Hyundai Mobis, were included in the world's top 100 automotive parts suppliers recently announced by the U.S. Automotive Data Center. The Automotive Data Center publishes rankings of global automotive parts suppliers based on the previous year's parts manufacturing and sales revenue.

In this evaluation, Hyundai Mobis ranked 7th, the only domestic company to make it into the 'Top 10.' Hyundai Mobis first entered the top 10 in 2011, and last year, it was the only company among the top 10 whose sales increased, narrowing the gap with the leading company. This is attributed to the diversification of products beyond core components to include advanced driver assistance systems (ADAS) and electrification parts.

Following closely, Hyundai Transys and Hyundai Wia, parts affiliates of the same Hyundai Motor Group, ranked 36th and 37th, respectively. Another leading domestic parts company, Hanon, jumped four places from the previous year to 42nd, and Mando ranked 49th, placing five domestic companies within the top 50. Lamp manufacturer SL (89th) and body manufacturer Seoyon E-Hwa (94th) newly entered the world's top 100 automotive parts suppliers.

Last year, the global number one was Germany's Bosch, recording sales of $46.6 billion (approximately 56 trillion KRW). It was followed by Japan's Denso, Magna, Continental, ZF, and Aisin. Hyundai Mobis ($26.1 billion) was ranked in the top 10 alongside Forecia and Lear by a narrow margin.

In particular, due to active mergers and acquisitions (M&A) in the automotive parts industry last year, there were many changes in rankings. Marelli, which was acquired by Japan's Calsonic from the Fiat Chrysler Group (FCA) and merged, immediately rose to 14th place, entering the top 100 for the first time.