Press release
Auto Ancillary Market | An all-Inclusive Data Collection of Top Players | Amtek Auto Limited, Bosch Limited, Exide Industries Limited, Gabriel India Limited
Auto Ancillary Market
The auto ancillary market in India deals with the production and sale of intermediate equipment and automotive parts that are used in automobile manufacturing. It is a crucial part of the automotive industry in India. The market is segmented into organized and unorganized sectors. The organized sector serves original equipment manufacturers (OEMs) and deals in high-value instruments. In contrast, the unorganized sector serves the aftermarket with low-value tools and parts. The auto ancillary market in India is moving towards the production of electric vehicle parts and components. Further, it is expected that the Indian auto ancillary market would be the third-largest in the world by 2025.
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This part of the report includes detailed information of the market in different regions. Each region offers different scope to the market as each region has different government policy and other factors. The regions included in the report are North America, South America, Europe, Asia Pacific, and the Middle East.
Top leading companies of the global market are:
o Amtek Auto Limited
o Bharat Forge Limited
o Bosch Limited
o Exide Industries Limited
o Gabriel India Limited
o Mahindra CIE Automotive Limited
o Sundram Fasteners Limited
o TVS Motor Limited
o Nifco India Private Limited
o ARaymond Fasteners India Private Limited
Market insights:
Performance of the automotive industry in India largely affects the auto ancillary sector. In terms of volume, automobile sales in India increased at a compound annual growth rate (CAGR) of ~6.71% during the FY 2013-FY 2019 period, with 26.27 Mn units of vehicles being sold in FY 2019. The domestic automobile production expanded at a CAGR of ~6.96% during the FY 2013-FY 2019 period, with production volume reaching 30.92 Mn units in FY 2019.
The auto ancillary market in India was valued at INR 3,936.96 Bn in FY 2019 and is expected to reach INR 8,401.30 Bn by FY 2024, expanding at a CAGR of ~16.94% during the FY 2020-FY 2024 period. In terms of revenue contribution, the auto ancillary market in India is dominated by OEM suppliers, accounting for ~55.98% of the industry, followed by the exports and aftermarket segments. However, in terms of the number of players, the market is dominated by the aftermarket segment.
Government initiatives:
The government has formulated various policies to boost the growth of the auto ancillary market in India. Auto Policy 2002, Automotive Mission Plan 2016-2026, National Automotive Testing and R&D Infrastructure Project (NATRIP), National Electric Mobility Mission Plan 2020 (NEMMP), and Faster Adoption & Manufacturing of Electric Hybrid Vehicles (FAME) Scheme II are a few significant programs launched by the Indian government. Moreover, other initiatives include providing R&D incentives for industry and private sponsored research, granting export subsidy under the Merchandise Exports from India Scheme (MEIS) and offering incentives to players operating in Special Economic Zones (SEZs)/National Investment & Manufacturing Zones (NIMZs).
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Key Highlights points of Auto Ancillary Market:
1) Competitive study of the major Auto Ancillary market players will help in analyzing the market driving and business strategies.
2) Analysis of necessary trends impacting to build-up of the market.
3) The deep research study of market based on development opportunities, growth limiting factors and feasibility of investment will forecast the market growth.
4) Analysis of trending factors will be influencing the Market shares in next few years.
5) Establish business expansion plans by referring to substantial growth and projection of emerging markets.
6) The report elaborates on the product sales, revenue accumulated, price patterns, and gross margins.
Furthermore, the study provides a comprehensive overview of regional distribution and the overview of product types in the market. It explains how key companies and mid-level manufacturers are making a profit within the Auto Ancillary industry. In short, the report on Auto Ancillary is an esteemed source for both the individuals as well as the businesses as it provides detailed SWOT analysis and new project investments feasibility study.
Read More: https://www.supplydemandmarketresearch.com/Auto Ancillary-market-1013701
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About us:
We have a strong network of high powered and experienced global consultants who have about 10+ years of experience in the specific industry to deliver quality research and analysis. Having such an experienced network, our services not only cater to the client who wants the basic reference of market numbers and related high growth areas in the demand side, but also we provide detailed and granular information using which the client can definitely plan the strategies with respect to both supply and demand side.
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