India Automotive Accessories & Parts Market By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, OTR, Two-Wheeler) By Component (Suspension, Anti-Braking System, Brake & Callipers, Chassis, Catalytic Convertor, Exhaust System, Piston, Spark plug, Drive Transmission & Steering Parts, Others (Wheels) By Demand Category (OEM vs Replacement) By Company and By Geography, Forecast & Opportunities, FY2027

India automotive accessories & parts market is expected to grow at significant CAGR during the forecast period. Automobile drivers are preferring automobile accessories and parts to enhance the vehicles performance in terms of sound, exhaust systems and performance which is contributing to surge in market growth. Strict regulations and policies by government to monitor the environmental impacts due to the automobile component functioning for instance the carbon dioxide emission, noise emissions and other important parameters and ensure the automobiles follow the standards set-up by the government agencies. Launch of products to stay ahead in competitive market by major platers is a major driver for high market demand in the region. Continuous research and development to upgrade the existing technology and innovate new technologies to enhance the performance and ease convenience of the automobile owners is attributing to market growth in the coming five years. Rise in disposable income among the middle-class families is increasing the expenditure capacity of consumers thereby enabling them to buy automotive accessories and parts. Installation of air bags in four wheelers and implementation of BS VI 2020 across the region is expected to accelerate the demand for products ensuring the safety of the passengers and follow the government norms.

India automotive accessories & parts market can be segregated based on vehicle type, component, demand category, regional distribution, and company. Based on demand category, market is bifurcated into OEM and replacement. Original equipment manufacturer OEM segment is expected witness growth in the forecast period. Digitization along with technological advancements in auto parts fabrication and increase in production of passenger vehicle is driving the segment demand. Development of e-commerce channels is aiding in increasing the reach of the products in the region. OEM segment generally include warranty, are of high quality and can be easily find and installed in the vehicles.

The major player operating in India automotive accessories & parts market are NGK Spark Plugs (India) Pvt. Ltd., Federal-Mogul Goetze Limited, Denso India Limited, Spark Minda, Cummins India Ltd., Asahi India Glass Ltd., Mobis India Limited, Anand Automotive Systems Limited, Bharat Forge Limited, Bridgestone India Private Limited, Exxon Mobil India Private Ltd and others.

Years considered for this report:

Historical Years: FY2017-FY2020

Base Year: FY2021

Estimated Year: FY2022

Forecast Period: FY2023–FY2027

Objective of the Study:

• To analyse and forecast the market size of automotive accessories & parts, in terms of value and volume.
• To classify and forecast India automotive accessories & parts market based on vehicle type, component, demand category, regional distribution, and company.
• To identify drivers and challenges for India automotive accessories & parts market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India automotive accessories & parts market.
• To conduct the pricing analysis for automotive accessories & parts market.
• To identify and analyse the profile of leading players involved in the manufacturing of India automotive accessories & parts market.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across India. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analysed the service offerings, distribution channels and presence of all major collaboration manufacturers across India.

TechSci Research calculated the market size of India automotive accessories & parts market using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analysing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.

Key Target Audience:

• India Automotive Accessories & Parts Manufacturers
• Automotive Powertrain Manufacturers
•  Automotive OEM’s
• Automotive Safety and Comfort System Manufacturers
• Raw material suppliers
• Dealers
• Research organizations and consulting companies.
• Research Institutes
• Industry associations
• Market research and consulting firm.

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as collaboration service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, India Automotive Accessories & Parts market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• India Automotive Accessories & Parts Market, By Vehicle Type:
• Passenger Car
• Light Commercial Vehicle
• Medium & Heavy Commercial Vehicle
• OTR
• Two-Wheeler
• India Automotive Accessories & Parts Market, By Component:
• Passenger Car
• Light Commercial Vehicle
• Medium & Heavy Commercial Vehicle
• OTR
• Two-Wheeler
• India Automotive Accessories & Parts Market, By Demand Category:
• OEM
• Replacement
• India Automotive Accessories & Parts Market, By Region:
• North
• East
• West
• South

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in automotive accessories & parts market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to the company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

• Profit margin analysis in case of direct and indirect sales channel.