Indian Auto Components Market May Set New Growth Story | Varroc Engineering, WABCO India, Endurance Technologies

HTF MI introduce new research on Indian Auto Components covering micro level of analysis by competitors and key business segments. The Global Long Term Food Storage explores comprehensive study on various segments like opportunities, size, development, innovation, sales and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists both qualitative and quantitative detailing. Some of the Major Key players profiled in the study are Minda Industries Ltd., Craftsman Automation and Rolex Rings Ltd., WABCO India Ltd., Endurance Technologies Ltd., Bosch Ltd., Varroc Engineering Ltd., Sundaram Clayton Ltd., Motherson Sumi Systems Limited (MSSL), Bharat Forge, Toyota Kirloskar Motors etc.

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Summary
During 2020, the Indian auto component industry witnessed a decline in sales by 11.7% to US$ 49.3 billion, compared to US$ 57.0 billion in 2019. However, the overall automotive sector is expected to witness steady growth post 2021 period on account of reopening of the market post Covid-19 pandemic, rising investment from the OEMs and increasing demand for Indian manufactured products in the overseas market. Under the auto component market passenger vehicle segment dominated the market, followed by 2-wheeler and Medium and heavy commercial vehicles, light commercial vehicle, tractors, 3-wheelers and earth moving equipment. Domestic OEM supplies in the Indian auto component sector contributed more than 55% of the industry sales, followed by exports (25%) and domestic aftermarket sales (20%) in the FY2021.
Based on product, the Indian Auto Component Market is segmented into Drive Transmission & Steering, Engine Components, Suspension & Braking, Electrical and Electronic Components, Consumables, Cooling System, Rubber Components. In 2020, Drive Transmission and Steering segment dominated the market accounting for more than 1/5th of the market. Engine Components and Electrical and Electronic Components were the other major revenue generating segment in 2020.

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Based on vehicle type, the Indian Auto Component Market is divided into Passenger Vehicles, 2-Wheeler, Medium and Heavy Commercial Vehicles, Light Commercial Vehicles, Tractors, 3-Wheeler, Earth Moving Equipment. Currently Passenger Vehicles dominated the market with more than 45% share, followed by 2-wheeler and Medium and Heavy Commercial Vehicles.
Based on market type, the market is bifurcated into Supplies to OEMs, Aftermarket, Export. In 2020, auto component was majorly driven by the increased demand from the automotive OEMs. Aftermarket sales of auto component accounted for more than 20% share in 2020.
For a better understanding of the market of the auto component sales in India, the report is analyzed based on different Indian regions including India (Northern India, Southern India, Eastern India, Western India, Central India). Currently Northern India dominated the market for auto component in India.
Some of the major players operating in the market include Minda Industries Ltd., Craftsman Automation and Rolex Rings Ltd., WABCO India Ltd., Endurance Technologies Ltd., Bosch Ltd., Varroc Engineering Ltd., Sundaram Clayton Ltd., Motherson Sumi Systems Limited (MSSL), Bharat Forge, Toyota Kirloskar Motors etc. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.

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1 MARKET INTRODUCTION
1.1. Market Definitions
1.2. Limitation
1.3. Stake Holders
1.4. Currency used in Report
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1. Research Process of the Indian Auto Component Market
2.2. Research Methodology of the Indian Auto Component Market
2.3. Forecasting Method
2.4. Respondent Profile
2.5. Main

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