China's Drive Industry Transformation
2026-02-04 14:17:47
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Over the past decade, China's drive industry has accelerated its expansion overs
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Over the past decade, China's drive industry has accelerated its expansion overseas, shifting from low-end product exports to high value-added technology exports, forming a new export pattern centered around electromechanical products, servo systems, and industrial motors, with new energy vehicle drive systems as the engine. In 2024, China's electromechanical product exports reached US$2.13 trillion, accounting for 59.4% of total exports. Among them, exports of core components of industrial automation such as servo motors and reducers continued to grow rapidly. In the first three quarters of 2025, high-tech product exports increased by 13.2% year-on-year. With a deep restructuring of the market structure and weak exports to the United States, ASEAN, the European Union, the Middle East, and Latin America have become the main forces. In 2023, new energy vehicle exports reached 1.203 million units, with the European market accounting for nearly 50%. Leading enterprises such as Wolong Electric Drive and Inovance Technology have achieved 'capacity expansion overseas' through overseas factory establishment (with over 40 manufacturing bases worldwide), the establishment of five major research and development centers, and H-share listing. In 2024, Wolong Electric Drive's overseas revenue accounted for 40% of its total revenue. At the policy level, 'Made in China 2025' and 'the Belt and Road' collaboratively promote the export of technical standards and localized operations, driving the industry to shift from 'selling products' to 'building an ecosystem'.
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shanghai caite international trade co.,ltd
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