The 21st Taipei International Auto/Motorcycle Parts & Accessories Show started yesterday with a record 890 exhibitors opening 2,150 booths to attract an expected record number of visitors to the venue.
The Taipei exhibition is Asia's largest auto-parts and accessories exhibition and also the third-largest automotive aftermarket industry expo in the world, trailing the Automotive Aftermarket Products Expo (AAPEX) in Las Vegas and Automechanika Frankfurt, said Chao Yung-chuan (趙永全), secretary-general of the Taiwan External Trade Development Council (TAITRA), organizer of the trade show.
TAITRA estimates the four-day exhibition will draw 5,500 overseas buyers, up from 5,018 last year, and 25,000 local buyers.
"With Taiwan's auto industry having seen robust growth over the past few years, we expect to further push it up to become one of the nation's major sectors," Chao said.
Driven by strong demand from the US and Europe, Taiwan exported NT$127.4 billion (US$3.98 billion) worth of auto and motorcycle parts last year, representing 18.18 percent growth from the previous year, Lee Tai-an (李台安), an official with the Industrial Development Bureau, said last month.
The figure is expected to hit NT$150 billion this year, he added at the time.
The government aims to increase the nation's output value of auto parts to NT$378.4 billion by 2008, and the output value for the whole auto industry to NT$605.6 billion in the meantime.
As the euro's rise against the US dollar has forced many European auto-parts suppliers out of the market, orders have been shifting to Asian suppliers. Local manufacturer Tong Yang Industry Co (東陽實業) is reportedly expanding its capacity in Italy, and Taiwan Kai Yih Industrial Co (開億工業) is planning to establish a factory there.
Minister of Economic Affairs Ho Mei-yueh (何美玥) previously estimated that the auto market in China will reach at least 10 million units in the next 10 years, and the ministry has mapped out a project to help local manufacturers tap the huge market, aiming to increase exports of auto parts to NT$300 billion in the next four years.
The advantage Taiwan has in the sector is its ability to integrate advanced technology into automotive devices, which has attracted a lot of interest among foreign buyers, Chen said.
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