India Automotive Components Market to Grow with a CAGR of 10.5% through 2031
Rising
demand for electric vehicles, advancements in lightweight and durable
materials, and increasing government support for automotive manufacturing are
key market drivers. Technological innovations and growing export opportunities
further boost growth. These are the factors driving the market in the forecast
period.
According
to TechSci Research report, “India Automotive Components Market –
By Region, Competition, Opportunities & Forecast, 2021-2031F”,
The India Automotive Components Market was valued at USD 82.7 Billion in 2025
and is expected to reach USD 136.0 Billion by 2031 with a CAGR of 10.5% during
the forecast period. The automotive components sector is witnessing robust
expansion driven by a surge in vehicle production and a heightened demand for
modern, fuel-efficient cars. Progress in electric vehicle technology combined
with tighter emission standards motivates producers to utilize lighter
materials and engineer more efficient parts. Emphasis on vehicle safety and
smart features like advanced driver-assistance systems is leading to industry
evolution. Increasing production capabilities and focused investments in
research and development are key contributors to market growth,
Emerging
trends like vehicle electrification, digital integration, and the use of
advanced composites are revolutionizing the design and manufacture of
automotive parts. There is significant potential in producing components
tailored for electric and smart mobility vehicles. Increased automation and
Industry 4.0 implementation are improving manufacturing processes. The industry
faces challenges such as volatile raw material costs, regulatory compliance,
and fast-paced technological advancements. Global competition and supply chain
vulnerabilities necessitate ongoing innovation and adaptable business
strategies,
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in-depth TOC on " India Automotive Components Market"
India Automotive Components Market Is Segmented By
Vehicle Type, By Component, By Demand Category, and By Region.
The automotive components market is segmented by vehicle
type into passenger cars and commercial vehicles, each with distinct
requirements and applications. Passenger cars demand a wide range of components
designed for comfort, safety, performance, and aesthetics. These vehicles often
incorporate advanced technologies such as infotainment systems, sophisticated
safety features, and fuel-efficient engines. Components like engine parts,
electrical systems, and suspension units are tailored to meet the needs of
passenger cars, balancing performance with ride comfort and fuel economy.
Lightweight materials and innovative manufacturing techniques are commonly
employed to enhance vehicle efficiency and reduce emissions. The focus on
enhancing driving experience, convenience, and environmental compliance drives
continuous evolution in components for passenger cars.
Commercial vehicles include trucks, buses, and vans used
primarily for transportation of goods and passengers in industrial, logistics,
and public transport sectors. The components for commercial vehicles are
engineered to withstand higher loads, longer operating hours, and demanding
conditions. Durability, reliability, and ease of maintenance are critical
factors in the design of parts such as heavy-duty engines, robust suspension
systems, braking mechanisms, and drivetrain components. Commercial vehicles also
incorporate specialized parts suited for cargo management, safety under heavy
loads, and fuel efficiency in long-haul operations. The push toward cleaner
commercial vehicles has led to the integration of alternative powertrains and
emission control systems in this segment. Electrical and electronic components
are increasingly important for meeting regulatory requirements and enhancing
vehicle performance,
The northern region is emerging as the fastest-growing
market for automotive components in 2025. This growth is supported by a rapidly
expanding industrial base and increasing investments in automotive
manufacturing and infrastructure. Several key cities in the north have
developed robust ecosystems that include original equipment manufacturers
(OEMs), component suppliers, and research and development centers. The presence
of well-established transportation networks and connectivity to major highways
facilitates efficient movement of goods and raw materials, supporting the
supply chain dynamics critical to the automotive sector.
Investment in new manufacturing facilities and technology
upgrades has enhanced production capabilities, enabling manufacturers to meet
rising demand for both traditional internal combustion engine components and
parts designed for electric vehicles. Skilled labor availability and government
initiatives aimed at boosting industrial growth are encouraging more companies
to establish or expand their operations in this region. Focus on clean energy
and emission standards is prompting suppliers to innovate and adapt their
product offerings, which contributes to the region’s rapid market expansion.
Major
Market Players Operating in India Automotive Components Market Are:
- Bosch
Limited
- Samvardhana
Motherson International Limited
- Bharat
Forge Limited
- Sundaram-Clayton
Limited
- Amara
Raja Batteries Limited
- Exide
Industries Limited
- Varroc
Engineering Limited
- UNO
Minda Limited
- Endurance
Technologies Limited
- Pricol
Limited
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India’s automotive components market is witnessing
consistent growth as the industry increasingly adopts advanced technologies
that require high-performance, reliable parts. Components are essential across
various vehicle systems, including powertrains, safety features, infotainment,
and electric mobility solutions. The rising emphasis on vehicle electrification
and intelligent technologies has spurred the development of components with
enhanced durability, efficiency, and compactness to meet evolving automotive
standards. Advances in materials and manufacturing techniques are improving the
quality and reliability of these parts, enabling them to endure demanding
operating environments and complex vehicle architectures. Increased investments
in electric vehicle manufacturing and automotive electronics continue to drive
the market’s upward momentum", said Mr. Karan Chechi, Research Director of
TechSci Research, a research-based global management consulting firm.
“India Automotive Components Market By Vehicle Type (Passenger
Cars and Commercial Vehicles), By Component (Engine Parts, Body & Chassis,
Suspension & Brakes, Drive Transmission & Steering Parts, Electrical
Parts and Equipment), By Demand Category (OEM Vs Replacement), By Region, Competition, Opportunities & Forecast, 2021-2031F”, assesses the market's future growth potential and
provides data on market size, trends, and forecasts. It aims to offer
comprehensive market insights, helping decision-makers make informed investment
choices. The report also highlights emerging trends, key drivers, challenges,
and opportunities in the India Automotive Components Market.
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