India's
auto-component (ACM) sector is likely to register robust growth. The ACM
industry in India has traditionally been a substantial contributor to the
national GDP and employs over 50 lakh people. The industry’s revenue is
estimated to rise from US$ 49 billion in FY20 to US$ 67 billion in FY25. The
passenger vehicle (PV) segment receives 45% of the ACM supply, while 2W gets
20%. The overall industry accounts for 7.1% of the national GDP and contributes
49% to the manufacturing GDP of India. The market is gearing towards more
excellent localization, and players are looking to increase their presence in
used cars, aftermarket, and export segments.
The
Auto Component Industry report discusses the key trends impacting the ACM
industry, the historical growth of major segments of the auto-components
market, and strategic initiatives undertaken by some of the key players in each
segment in this report. We have also highlighted fresh demand segments and
discussed the factors that drive them. This report further underlines the need
for technology upgrades, standardization, and integration across the automotive
supply chain to help suppliers grow in the present market.