A major shakeup is looming in the ranking of the global automotive suppliers as an increasing number of auto makers and suppliers are going for M&As to get the upper hand in the next-generation car market, including self-driving vehicles and connected cars.
ZF of Germany, which ranked fifth last year, jumped to the No. 2 spot, while Denso of Japan which ranked second last year slipped to No. 4.
Hyundai Mobis of Korea, which maintained No. 6 spot for three straight years, fell by one notch to No. 7 this year.
The U.S.-based Automotive News recently announced the list of the world’s top-100 automotive suppliers for 2017 on the basis of their 2016 revenues. Bosch remained unchanged at No. 1 with sales of US$46.5 billion, sustaining its leadership for seven consecutive years.
Following Bosch was ZF which enjoyed a 30.3-percent growth in sales last year to $38.4 billion. ZF’s acquisition of an American vehicle electronic supplier TRW in 2014 is now paying off, creating viable synergies. Denso slipped from No. 2 to No. 4 with its sales estimated at $36.1 billion, up 0.4 year on year.