India Automotive After Market | Expected to Reach US$ 32 Bn by 2027 with 14% CAGR Tata Auto Component Systems, Minda Industries Limited, Continental AG, 3M, Delphi Automotive PLC

The India Automotive Aftermarket is poised for significant growth, projected to reach a worth of US$ 32 Bn by 2027, exhibiting a robust CAGR of 14% during the forecast period. Several factors contribute to this anticipated growth, including the country's expanding automotive industry, increasing vehicle parc, and a rising demand for automotive components and accessories. As the Indian automotive market continues to mature, vehicle owners are placing greater emphasis on vehicle maintenance, repair, and customization, driving the demand for aftermarket products and services. Additionally, the proliferation of e-commerce platforms and digitalization has made aftermarket products more accessible to consumers, further fueling market growth.

India Automotive After Market Report Scope and Research Methodology:

The India Automotive Aftermarket Report offers a comprehensive analysis of the automotive aftermarket in India, providing insights into key market trends, drivers, challenges, and opportunities. The report covers various aspects of the aftermarket, including segmentation by product type, vehicle type, distribution channel, and geography. It also includes a detailed examination of the competitive landscape, profiling key players and their strategies. The research methodology includes primary and secondary research, data triangulation, and validation techniques to ensure the accuracy and reliability of the findings. The report aims to provide valuable insights to stakeholders, including manufacturers, suppliers, distributors, and investors, to help them make informed decisions and formulate effective strategies for growth in the India Automotive Aftermarket.

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What are India Automotive After Market Dynamics:

The dynamics of the India Automotive Aftermarket are driven by several key factors. Firstly, the increasing vehicle parc in India, fueled by rising disposable incomes and urbanization, is leading to higher demand for aftermarket products and services. Vehicle owners are increasingly opting for aftermarket components and accessories for maintenance and customization purposes. Additionally, the growing preference for online purchasing of automotive parts and accessories is reshaping the aftermarket landscape, with e-commerce platforms offering a wide range of products at competitive prices. Moreover, the government's focus on promoting electric vehicles (EVs) is expected to create new opportunities in the aftermarket sector, particularly for EV components and accessories.

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India Automotive After Market Regional Insights:

Regional insights into the India Automotive Aftermarket reveal varying trends and opportunities across different parts of the country. In metropolitan cities like Delhi, Mumbai, Bangalore, and Chennai, there is a higher demand for premium aftermarket products and services due to the presence of a large number of affluent vehicle owners. These cities also have a well-established network of aftermarket service providers, including authorized dealerships and independent garages, catering to the diverse needs of vehicle owners.

In contrast, rural areas and smaller towns exhibit a different aftermarket landscape, characterized by a higher demand for cost-effective and locally sourced aftermarket products. Here, local garages and workshops play a significant role in meeting the maintenance and repair needs of vehicle owners. Additionally, the availability of genuine aftermarket parts and accessories is a key concern in these regions, with consumers often relying on local suppliers for their automotive needs.

Overall, the India Automotive Aftermarket is a dynamic and evolving sector, shaped by the unique regional characteristics and preferences of vehicle owners across the country. As the automotive industry continues to grow and evolve, the aftermarket sector is expected to witness further expansion, driven by the increasing demand for aftermarket products and services in both urban and rural areas.

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What is India Automotive After Market Segmentation:

The India Automotive Aftermarket is segmented based on various factors, including the type of products and the distribution channels. One of the significant challenges facing the sector is the proliferation of counterfeit goods, which not only causes financial losses to reputed brands but also poses a threat to the Indian economy. The transition to electronic powertrains is another crucial challenge for the Indian auto aftermarket, particularly for small players who may struggle to adapt technologically for electric vehicles (EVs). Additionally, with the implementation of BS IV and BS VI standards, auto aftermarket manufacturers face the challenge of upgrading their technology to comply with these standards.

In terms of product types, tires account for the majority share (80%), followed by lighting & electronic components and brake parts. Tires are crucial for vehicle safety, performance, and fuel efficiency. The passenger vehicle (PV) segment, in particular, has shown a greater willingness to adopt new tire technology despite higher costs, driven by increased consumer awareness.

The distribution channels in the India Automotive Aftermarket are evolving, with the offline segment traditionally leading the market. However, e-retailing of auto components is gaining popularity due to factors such as freedom of choice, price comparison, convenience, and 24/7 service. Currently, online retailing is dominated by accessories, but the overall online aftermarket in India was estimated at around $130 million in 2019 and is expected to grow at a CAGR of 7%. The B2B segment also presents significant opportunities, driven by the rapid growth of organized and independent workshops and customers' positive perception towards them.


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Who are India Automotive After Market Key Players:

• Tata Auto Component Systems
• Minda Industries Limited
• Continental AG
• 3M
• Delphi Automotive PLC
• Denso Corporation
• Federal-Mogul Corporation
• Magneti Marelli S.p.A.
• Goodyear Tire & Rubber Company
• ZF Friedrichshafen AG
• COOPER TIRE & RUBBER COMPANY
• Robert Bosch GmbH.
• thyssenkrupp
• Volkswagen India
• Daimler AG
• Genpact
Table of content for the India Automotive After Market includes:

1. Global India Automotive After Market: Research Methodology

2. Global India Automotive After Market: Executive Summary

● Market Overview and Definitions
● Introduction to the Global Market
● Summary
● Key Findings
● Recommendations for Investors
● Recommendations for Market Leaders
● Recommendations for New Market Entry

3.Global India Automotive After Market: Competitive Analysis

● MMR Competition Matrix
● Market Structure by region
● Competitive Benchmarking of Key Players
● Consolidation in the Market
● M&A by region
● Key Developments by Companies
● Market Drivers
● Market Restraints
● Market Opportunities
● Market Challenges
● Market Dynamics
● PORTERS Five Forces Analysis
● PESTLE
● Regulatory Landscape by region
● North America
● Europe
● Asia Pacific
● Middle East and Africa
● South America
● COVID-19 Impact

4 . Company Profile: Key players

● Company Overview
● Financial Overview
● Global Presence
● Capacity Portfolio
● Business Strategy
● Recent Developments

Key Offerings:

● Past Market Size and Competitive Landscape (2023 to 2027)
● Past Pricing and price curve by region (2023 to 2027)
● Market Size, Share, Size and Forecast by different segment | 2023-2027
● Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
● Market Segmentation - A detailed analysis by growth and trend
● Competitive Landscape - Profiles of selected key players by region from a strategic perspective
● Competitive landscape - Market Leaders, Market Followers, Regional player
● Competitive benchmarking of key players by region
● PESTLE Analysis
● PORTER's analysis
● Value chain and supply chain analysis
● Legal Aspects of business by region
● Lucrative business opportunities with SWOT analysis
● Recommendations

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