Press release
๏ปฟIndia Automotive Aftermarket are expected to increase by approximately 7.2 percentage from 2024 to 2030
India Automotive Aftermarket
India Automotive Aftermarket size was valued at USD 10.3 billion in 2023 and the total India Automotive Aftermarket revenue is expected to grow at a CAGR of 7.2% from 2024 to 2030, reaching nearly USD 16.76 Billion.
India Automotive Aftermarket Overview:
The Indian automotive aftermarket is witnessing robust growth, driven by a vehicle population that has reached 340 million and is projected to expand steadily at a compound annual growth rate (CAGR) exceeding 8% over the next five years. Significant growth is anticipated in the Two-Wheelers and Passenger Vehicles sectors, with unit projections increasing from 257 million to 365 million and from approximately 47 million to over 72 million, respectively, in the coming years. Additionally, the booming pre-owned car sales market is significantly contributing to this expansion, expected to grow at an impressive CAGR of around 17.5% by FY2030, fueled by organized businesses and online sales platforms.
๐๐ฅ๐ข๐๐ค ๐ก๐๐ซ๐ ๐๐จ๐ซ ๐๐ซ๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ + ๐ซ๐๐ฅ๐๐ญ๐๐ ๐ ๐ซ๐๐ฉ๐ก๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ @ https://www.maximizemarketresearch.com/request-sample/29939/
Drivers in the India Automotive Aftermarket:
The Indian automotive aftermarket is poised for substantial growth due to a recent uptick in vehicle sales. According to a report from MMR in January 2024, overall vehicle sales increased by 15%, jumping from 1.849 million units in January 2023 to 2.127 million units in January 2024. Notably, two-wheeler sales saw a robust 15% growth, with three-wheelers surging by an impressive 37%, while passenger vehicles recorded a commendable 13% rise. Two-wheeler sales alone rose to 1,458,849 units in January 2024, reflecting steady demand, particularly in rural areas supported by favorable agricultural conditions and government initiatives.
India Automotive Aftermarket Trends:
India's automotive aftermarket is undergoing a significant transformation in its business models and revenue streams. Traditionally reliant on a sequential sales model, there is now a marked shift toward direct distribution channels facilitated by e-commerce platforms. Partnerships between Original Equipment Manufacturers (OEMs) and leading online retailers like Amazon and eBay are becoming increasingly common. For example, Robert Bosch's collaboration with TMall generated an impressive Gross Merchandise Volume (GMV) of $290 million in 2015-2016. Historically, the market has been dominated by demand for wear-and-tear parts; however, as part quality improves, this demand is expected to decline. Instead, growth is projected to stem from innovative offerings in diagnostics and services, particularly those leveraging digital technology and vehicle data.
๐๐๐ง๐ญ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐ซ๐: https://www.maximizemarketresearch.com/inquiry-before-buying/29939/
India Automotive Aftermarket Opportunities:
Technological advancements in the automotive sector are unlocking numerous growth opportunities for the Indian automotive aftermarket. Innovations such as connected vehicles, electric vehicles (EVs), and advanced driver assistance systems (ADAS) are enabling aftermarket businesses to develop and offer a variety of compatible products and services, including diagnostic tools, software updates, and specialized components. The adoption of connected vehicle technology allows for enhanced remote diagnostics, predictive maintenance, and fleet management, which can significantly improve operational efficiency and reduce downtime for vehicle owners. The shift toward electric vehicles opens avenues for aftermarket providers to establish charging infrastructure, battery management solutions, and retrofitting services for existing vehicles.
What is India Automotive Aftermarket Regional Insight?
In 2023, the Northern region emerged as the leader in the Indian automotive aftermarket, comprising states such as Delhi, Uttar Pradesh, Punjab, and Haryana, which collectively account for a significant share of aftermarket demand. This demand is bolstered by high vehicle density in urban areas like Delhi-NCR and agricultural activities in rural regions. Additionally, states like Maharashtra, Gujarat, and Rajasthan also play a crucial role in the aftermarket, with major cities like Mumbai and Pune driving demand for aftermarket products and services across passenger and commercial vehicle segments. Gujarat's industrial hubs specifically enhance the need for commercial vehicle parts, while the presence of automotive manufacturing clusters in these states stimulates demand for aftermarket offerings.
๐ ๐๐๐ |๐๐๐ญ ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ! @ https://www.maximizemarketresearch.com/request-sample/29939/
Segmentation Analysis of the India Automotive Aftermarket:
by Replacement Parts
Tire
Battery
Brake Parts
Filters
Body parts
Lighting & Electronic Components
Wheels
Exhaust components
Turbochargers
Others
by Certification
Genuine Parts
Certified Parts
Uncertified Parts
by Service Channel
DIY (Do it Yourself)
DIFM (Do it for Me)
OE (Delegating to OEM's)
by Distribution Channel
OEMs
Repair Shops
Wholesalers & Distributors
Who is the largest manufacturers of India Automotive Aftermarket worldwide?
1. Bosch India
2. TVS Group
3. Mahindra & Mahindra
4. Exide Industries
5. Tata Motors
6. Minda Industries
7. Amara Raja Batteries
8. Ashok Leyland
9. Hero MotoCorp
10. Maruti Suzuki
11. Motherson Sumi Systems
12. JK Tyre & Industries
13. Lumax Industries
14. Sundram Fasteners
15. WABCO India
16. Gabriel India
17. Ceat Ltd.
18. SKF India
19. MRF Limited
20. Apollo Tyres
๐ ๐จ๐ซ ๐๐จ๐ซ๐ ๐๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง ๐๐๐จ๐ฎ๐ญ ๐๐ก๐ข๐ฌ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐ฅ๐๐๐ฌ๐ ๐๐ข๐ฌ๐ข๐ญ: https://www.maximizemarketresearch.com/market-report/india-automotive-aftermarket/29939/
Key Offerings:
Past Market Size and Competitive Landscape
India Automotive Aftermarket Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
India Automotive Aftermarket Segmentation - A detailed analysis by Product
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
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐จ๐ฎ๐ซ ๐๐จ๐ฉ-๐๐๐ซ๐๐จ๐ซ๐ฆ๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐จ๐ง ๐ญ๐ก๐ ๐๐๐ญ๐๐ฌ๐ญ ๐๐ซ๐๐ง๐๐ฌ:
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โฆ Warehouse Automation System Market https://www.maximizemarketresearch.com/market-report/warehouse-automation-system-market/167432/
โฆ Global Healthcare Chatbot Market https://www.maximizemarketresearch.com/market-report/global-healthcare-chatbots-market/240/
โฆ Rhodium Market https://www.maximizemarketresearch.com/market-report/rhodium-market/191678/
โฆ Global Frozen Pizza Market https://www.maximizemarketresearch.com/market-report/global-frozen-pizza-market/22053/
โฆ Plastic Additives Market https://www.maximizemarketresearch.com/market-report/global-plastic-additives-market/21769/
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