Monday, April 11, 2011

Global Automotive Component Outsourcing Market to Reach $1.09 Trillion by 2017

Good news – I think Thailand needs to get into full bore "business development" mode.

GIA announces the release of a comprehensive global report on automotive component outsourcing market. Although the prolonged severity of the economic slowdown and depressed automotive industry have elicited decline in revenue for automotive component outsourcing in the recent years, the market nevertheless is expected to recover poise in the short to medium term period to reach $1.09 trillion by 2017. Growth in the market will be especially driven by increase in automobile production as a result of post recession resurgence in consumer demand for new cars and scheduled development and roll out of new feature-rich vehicle models. Robust growth prospects in Asia-pacific also augur well for the market.