Leading South Korean auto parts suppliers in global top 100 rankings 2021, by sales
Hyundai Mobis and eight other South Korean auto parts manufacturers were ranked in the top 100 automobile parts suppliers in the world, by sales value. Hyundai Mobis was in 7th place, the highest ranking of all the Korean companies, and made over 25 billion U.S. dollars in sales in 2021. Three of the others are also members of the Hyundai Motor Group conglomerate.
Hyundai Mobis
Hyundai Mobis is not only one of the world’s leading auto parts manufacturers, but it is also one of Korea’s largest companies, ranking 2nd in 2021. A major reason behind its success as the leading Korean auto parts manufacturer is due to the companies it supplies. Hyundai Mobis is the primary supplier of auto parts for the Hyundai Motor Company and Kia Motors, the two leading automobile manufacturers in Korea. It effectively makes everything but the powertrain and related parts. The majority of Hyundai Mobis’ sales revenue came from producing modules and parts for use in Korea.
The auto parts industry in Korea
The Korean auto parts industry is rated as one of the world’s top auto parts producers, with its output making up around five percent of the global output as of 2017. Even as Mexico and India overtook Korea as leading producers of finished cars, Korean companies have remained competitive in the global auto parts market with eco-friendly parts, advanced features and modularization. As demand has become sluggish around the globe, automakers are resorting to innovative strategies such as electric vehicles or autonomous driving to achieve growth. Korea’s position as an IT powerhouse is expected to benefit local auto parts manufacturers in this regard. The Hyundai Motor Group, of which Hyundai Mobis is a member, accounted for around 6.5 percent of the global electric vehicle market in 2019.
Hyundai Mobis
Hyundai Mobis is not only one of the world’s leading auto parts manufacturers, but it is also one of Korea’s largest companies, ranking 2nd in 2021. A major reason behind its success as the leading Korean auto parts manufacturer is due to the companies it supplies. Hyundai Mobis is the primary supplier of auto parts for the Hyundai Motor Company and Kia Motors, the two leading automobile manufacturers in Korea. It effectively makes everything but the powertrain and related parts. The majority of Hyundai Mobis’ sales revenue came from producing modules and parts for use in Korea.
The auto parts industry in Korea
The Korean auto parts industry is rated as one of the world’s top auto parts producers, with its output making up around five percent of the global output as of 2017. Even as Mexico and India overtook Korea as leading producers of finished cars, Korean companies have remained competitive in the global auto parts market with eco-friendly parts, advanced features and modularization. As demand has become sluggish around the globe, automakers are resorting to innovative strategies such as electric vehicles or autonomous driving to achieve growth. Korea’s position as an IT powerhouse is expected to benefit local auto parts manufacturers in this regard. The Hyundai Motor Group, of which Hyundai Mobis is a member, accounted for around 6.5 percent of the global electric vehicle market in 2019.
