Report Description

India Automotive Components Market By Vehicle Type (PC, LCV, M&HCV, Two-Wheeler, Three-Wheeler and OTR), By Component (Engine Parts, Body & Chassis, Suspension & Brakes, Drive Transmission & Steering Parts, Electrical Parts and Equipment), By Demand Category (OEM Vs Replacement), By Region, By Company, Competition, Forecast & Opportunities, 2024

  • Publish Date: NA
  • Format : PDF
  • Pages : 70
  • Industry : Automotive

India Automotive Components Market Overview

India automotive components market is anticipated to witness double-digit growth during the forecast period, on account of increasing automotive production in the country. Growing working population and expanding middle class income, in addition to government policies such as Auto Policy 2002, Automotive Mission Plan and NATRiP are positively impacting the market growth. During the last couple of years, automotive components market in India witnesses sluggish growth in terms of value, predominantly on account of currency fluctuations that negatively impacted the country’s automotive industry. However, due to changing requirements of OEMs, technological advancements and shifting market dynamics due to changing customer demand, the market is poised to witness significant growth in the next five years. Moreover, India leads the two-wheeler, segment A car and tractor segments at the global market, which in turn is positively influencing the country’s automotive components market.

India Automotive Components Market Segments

In terms of vehicle type, automotive components market has been segmented into passenger car, light commercial vehicle, medium & heavy commercial vehicle, two-wheeler, three-wheeler and off-the-road vehicle. Passenger cars accounted for the major market share in 2018 and is anticipated to continue dominating the market during the forecast period, owing to increasing sales and expanding fleet size of passenger cars in India. Based on the component, India automotive components market has been segmented into engine parts, body & chassis, suspension & brakes, drive transmission & steering parts, electrical parts and equipment. Electrical parts segment is expected to witness high growth during the forecast period, as the demand for electric start mechanism is increasing in the automotive industry. Automotive components in India are required for replacement in old vehicles and by original equipment manufacturers for new vehicles. In terms of regional analysis, India automotive components market has been segmented into north, south, east and west. The developing economy is witnessing high demand for automotive components, on the back of growing demand for passenger cars and commercial vehicles. India is a cost-effective manufacturing base, which is further contributing to the market growth.  

India Automotive Components Market Competitive Landscape

Major companies operating in India automotive components market recorded high sale volumes in 2018 and the trend is likely to continue during the forecast period. List of major market players include Bosch Limited, NGK Spark Plugs (India) Pvt. Ltd., Federal-Mogul Goetze Limited, Denso India Limited, Spark Minda, Cummins India Ltd., Asahi India Glass Ltd., Subros LTD., Anand Automotive Systems Limited, Bharat Forge Limited, etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. Bosch is also investing in IoT in order to offer mobility solutions and connected vehicles.

Years considered for this report:

Historical Years: 2014-2017

Base Year: 2018

Estimated Year: 2019

Forecast Period: 2020-2024

Objective of the Study:

  • To analyze and forecast India automotive components market size.
  • To classify and forecast India automotive components market based on vehicle type, component, demand category and regional distribution.
  • To identify drivers and challenges for India automotive components market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India automotive components market.
  • To conduct the pricing analysis for India automotive components market.
  • To identify and analyze the profile of leading players operating in India automotive components market.

 

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Some of the leading players in India automotive components market are Bosch Limited, NGK Spark Plugs (India) Pvt. Ltd., Denso India Limited, Spark Minda, Cummins India Ltd., Asahi India Glass Ltd., Subros LTD., Anand Automotive Systems Limited, etc.

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 analyzed the product offerings, distribution channels and presence of all major manufacturers across India.

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


Key Target Audience:

  • Manufacturers and other stakeholders
  • Government bodies such as regulating authorities and policy makers
  • Organizations, forums and alliances related to automotive components market
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers, partners and end users. The study would also help them to target the growing segments over the coming years and aid them in taking investment decisions and facilitating their expansion.

Report Scope:

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

  • Market, by Vehicle Type:
    • Passenger Car
    • Light Commercial Vehicle
    • Medium & Heavy Commercial Vehicle
    • Two-Wheeler
    • Three-Wheeler
    • OTR
  • Market, by Component:
    • Engine Parts
    • Body & Chassis
    • Suspension & Brakes
    • Drive Transmission & Steering Parts
    • Electrical Parts
    • Equipments
  • Market, by Demand Category:
    • OEM
    • Replacement
  • Market, by Region:
    • North Region
    • South Region
    • East Region
    • West Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India automotive components market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a 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).

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

It is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at sales@techsciresearch.com  

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